Treasury Announces Schedule for $250 Economic Recovery Payments
Payments to begin in early May
Washington, D.C. - (April 9, 2009) - In early May, the Financial Management Service (FMS), a bureau of the U.S. Department of the Treasury, will begin to issue more than 64 million one-time $250 payments to benefit recipients. FMS has worked closely with benefits agencies-the Social Security Administration (SSA), the Railroad Retirement Board (RRB), and the Department of Veterans Affairs (VA)-to develop an aggressive schedule to make these payments.
The disbursements will begin in early May, with the first payments going to those receiving Social Security benefits and Supplemental Security Income (SSI). These payments will continue throughout the month of May. The next payments will be in late May to recipients of RRB benefits, and in June to recipients of Veterans Compensation and Pension benefits. If you have not received your payment by the end of July, you should call your paying agency to file a non-receipt claim. Benefit recipients should be aware that if they are eligible for more than one government benefit, they will only receive one $250 Economic Recovery payment.
The American Recovery and Reinvestment Act, which President Obama signed into law on Feb. 17, 2009, requires the payments to begin within 120 days of enactment.