As May begins, millions of Americans relying on Social Security benefits are looking forward to their monthly payments. But if you’re expecting a deposit on Wednesday, May 7, you’ll be disappointed. There will be no Social Security payment issued on that day—and the reason lies in the official SSA payment schedule.

Social Security payments for May will soon be distributed to approximately 69 million Americans, including retirees and those with qualifying disabilities. See the schedule.

During his final days in office, President Joe Biden signed the Social Security Fairness Act, which increased the federal retirement benefits of 3.2 million U.S. seniors. If you're among them, you've probably eagerly awaited the adjustment to your checks, which may amount to as much as $1,100 more per month for some retirees.