This step ensures that you are informed about any benefits you might be entitled to, including a one-time lump sum payment of $255. This payment can be a small but significant help during ...

6. Con: Risk of poor financial management A lump sum puts a lot of financial power in your hands all at once. And for some people, that may lead to impulsive spending or poor investment choices.

If your loved one dies, Social Security will give you a one-time lump sum payment of $255 — an amount that’s remained the same since 1954. But if it were adjusted for inflation, that benefit ...

The Social Security Administration has now processed about 91% of cases related to a new law that is prompting higher benefits and lump-sum retroactive payments for nearly 3 million people ...