Social Security also includes disability pay

[spidey07]

Got my SS statement (I'm 37) and reviewed it. It says I'm fully qualified for disability payments. I never knew this as I thought that was a state thing or the responsibility of you to get disability insurance.

It's a pretty hefty chunk of change, about 2300/mo and coupled with individual disability insurance you would be A-OK if something happened.

http://www.ssa.gov/dibplan/index.htm

 

[kranky]

I thought there was some rule where Social Security disability was reduced by the amount of any individual disability payment.

 

[spidey07]

Originally posted by: kranky
I thought there was some rule where Social Security disability was reduced by the amount of any individual disability payment.

Don't ruin my buzz!!! That sucks.

 

[techs]

Originally posted by: kranky
I thought there was some rule where Social Security disability was reduced by the amount of any individual disability payment.

No, there isn't. You could possibly have a private disability plan that reduced its payments based on what Social Security pays you, but not the other way round.
State disability plans are short term plans, often designed to bridge the gap between the time you become disabled and the time you could receive Social Security disablility payments.
btw and fyi, your Social Security payments are pretty sacrosanct and cannot be garnished by almost anyone, except by Social Security if they made an over payment to you.

 

[nineball9]

Originally posted by: kranky
I thought there was some rule where Social Security disability was reduced by the amount of any individual disability payment.

It's not. SSDI, as well as retirement Social Security income is subject to Federal income tax however. The amount which is taxed, if any, depends on one's total taxable income. Determining the tax is one of the 1040 worksheets.

 

[bobdole369]

This is after all the point of social security:

1. To provide income to the elderly/retired folks after they finish working, thus keeping them off welfare when they reach retirement.
2. To provide income to those who cannot work for health reasons (i.e. disability) - thus keeping them off welfare when they are enfeebled.

 

[jagec]

Originally posted by: bobdole369
This is after all the point of social security:

1. To provide gambling money to the elderly/retired folks after they finish working, thus keeping Las Vegas bigwigs rich in perpetuity.