If your only income is SSI and the money you make from your job, we don't count the first $85 of your monthly gross earnings. Each month, we reduce your SSI benefits 50 cents for every dollar that you earn over $85.
We only look at Substantial gainful activity (SGA) when you first apply for SSI. If you are receiving SSI and go to work, SGA is not an issue. However, we do have to figure your countable income. For more information, see the SSI Spotlight on Impairment–Related Work Expense.
Yes. If you receive SSI, income from work performed each month will be deducted from your monthly SSI benefits.
SSI is generally for individuals who don't earn more than $1,971 from work each month. The income limit increases for couples and when parents apply for children.
Substantial Gainful Activity (SGA)
The SGA amount for persons with disabilities other than blindness is $1,470 per month in 2023. For persons who are blind, the amount of earnings that indicate SGA is $2,460 per month in 2023.
If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2024, that limit is $22,320. In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit.
That's one of the bonuses of waiting: You can earn as much as you want without the penalty of having your Social Security income withheld. If you're under the full retirement age, however, the annual earnings limit is $21,240 for 2023.
If the recipient requests a waiver or reconsideration and the amount of the original overpayment (not the outstanding overpayment balance) is $1,000.00 or less, we administratively discontinue waiver development unless, from the facts apparent on the face of the waiver or reconsideration request, we believe there is an ...
Unlike what most people believe, lottery winnings do not affect your social security disability benefits (SSDI). But it can reduce or totally cut your Supplemental Security Income (SSI). That's because SSDI is an earned benefit.
Suppose you were born on Jan. 1, 1960, and had an average annual income of $50,000. As of May 2023, you would get a monthly benefit of $1,386 if you filed for Social Security at 62; $1,980 at full retirement age (in this case, 67); or $2,455 at 70.
You may work and continue to receive all or part of your cash benefit until you start making an amount of money, which, in addition to your other income, reduces your cash benefit to $0. Typically income must be a little more than double your full SSI benefit before you stop receiving your cash benefit.
The amount of earnings that we consider substantial changes each year. Benefits will end if work and earnings are above the substantial level after the 36-month re-entitlement period. If we decide that your medical condition has improved and you no longer have a disability.
When you work for yourself, you can work hours without receiving an hourly wage. In that case, the SSA will look at how many hours you've worked, plus your monthly income. Social Security typically allows up to 45 hours of work per month if you're self-employed and on SSDI. That comes out to around 10 hours per week.
Many individuals are eligible for benefits under both the SSDI and SSI programs at the same time. We use the term “concurrent” when individuals are eligible for benefits under both programs. Below we describe how a return to work may affect a person's concurrent benefits.
Many people who are eligible for Supplemental Security Income (SSI) may also be entitled to receive Social Security benefits. In fact, the application for SSI benefits is also an application for Social Security benefits.
Some of what you make or own won't count toward SSI limits. For SSI, income is money you get, such as wages, Social Security benefits, and pensions. Income can also include food and housing.
SSI considers “income” anything a person receives that can be used for food or shelter. Income includes but isn't limited to cash, checks, and “gift” items received, such as food and shelter. SSI divides income into 2 categories — earned and unearned.
The amount a person receives in Social Security benefits is not directly affected by their current income or wealth. Therefore, even if someone is a millionaire or billionaire, they can still receive Social Security benefits if they have a qualifying work history.
Current beneficiaries who exceed the limits are suspended and then terminated from program participation if their savings remain above the limits, and they must repay any benefits paid while they are over the limit. SSI beneficiaries are limited to only $2,000 in assets of any kind.
The SSI keeps your bank account in check because they need to monitor the money you carry inside of it constantly. Doing this is necessary because the money in your account can determine your eligibility.
You can get Social Security retirement benefits and work at the same time. However, if you are younger than full retirement age and make more than the yearly earnings limit, we will reduce your benefits. Starting with the month you reach full retirement age, we will not reduce your benefits no matter how much you earn.
Have you heard about the Social Security $16,728 yearly bonus? There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.
In 2024, you can earn up to $22,320 without having your Social Security benefits withheld. But beyond that point, you'll have $1 in benefits withheld per $2 of earnings. The limit is much higher if you'll be reaching FRA in 2024. In that case, you can earn up to $59,520 without having benefits impacted.