A Word About Early Retirement
Speak with an SSDI lawyer if you plan to take Social Security retirement benefits at age 62 and also apply for SSD benefits. You may be entitled to take advantage of a disability freeze that allows Social Security to ignore low-earning years of your work history when determining the amount that you should be paid in benefits.
A disability freeze may be an option provided it can be proven that the onset date of the disability was prior to when you applied for early retirement. Talk to an SSDI lawyer to learn more about the disability freeze.
Take advantage of our experience
Answers to all of your questions about your SSDI and SSI benefits along with skilled and trusted assistance with applications and benefits is available from an SSD lawyer at Liner Legal Disability Lawyers. Call today for a free consultation.
If You Get Medicare For Disability And Then Return To Work
If you get Medicare due to disability and then decide to go back to work, you can keep your Medicare coverage for as long as youre medically disabled.3 And, if you do go back to work, you wont have to pay the Part A premium for the first 8.5 years.
Part A is premium-free for those with a disability and under 65 only if you get Social Security or Railroad Retirement Board benefits for 24 months or have ESRD and meet certain requirements.4
If youre 65 or older, Part A is premium-free if you or your spouse worked and paid Medicare taxes for at least 10 years, you already get retirement benefits from Social Security or the Railroad Retirement Board, or youre eligible for these benefits but havent filed for them yet.5
An Exception To The Rule
While most people will see little or no difference in the amount of monthly payment they receive after their disability benefits convert to retirement benefits, there is one important exception. If you are currently receiving worker’s compensation or public disability benefits from a federal job, you may not have paid Social Security taxes for these benefits. As a result, your SSDI payment may be reduced to account for these additional funds.
When your SSDI benefits convert to regular Social Security retirement benefits, your payments will no longer be reduced. In these instances, you may see a small to significant increase in the amount of your monthly benefits when you officially transition from disability to retirement benefits from the SSA.
When Does Social Security Disability Convert To Retirement Benefits
If you are collecting Social Security Disability benefits, they will automatically convert to regular Social Security retirement benefits upon reaching the age when you qualify for full retirement benefits. Full retirement age depends upon the year in which you were born. For example, someone born in 1954 reached full retirement at 66 years of age, but anyone born after 1960 must wait until they are 67 years old.
You have the option to take early retirement and collect Social Security retirement benefits at age 62. However, your retirement benefit will be less than it would have been had you waited until reaching the age of full retirement. A better option than retiring early for someone who is disabled is to file for disability and collect it until your benefits from Social Security Disability convert to regular Social Security when you reach full retirement age. Doing it that way, instead of taking early retirement, does not cause a reduction in the amount of your benefits.
Convicted Santa Clara County Sheriff Keeps Retirement Benefits
The former Santa Clara County sheriff is still eligible to receive her retirement benefits, despite being convicted of several felony-equivalent charges in a civil trial last month. Some local leaders say she doesnt deserve it.
Last month, a civil jury found Sheriff Laurie Smith guilty of six counts of corruption and willful misconduct for her part in a pay-to-play scheme. Smith was convicted of doling out concealed carry permits to campaign donors and members of her inner circle, as well as failing to report gifts in exchange for permits. Smith stepped down as the countys top law enforcement officer three days before her conviction. She served in the department for about 50 years.
Due to the unusual circumstances of her conviction, shes eligible for hundreds of thousands of dollars in pension and health care benefitssome of which will be paid by taxpayers. This is because a civil grand jury brought forth Smiths charges, which meant that while the charges and trial were structured like a criminal case, there were no criminal consequences when she was convicted.
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How Can I Increase My Social Security Disability Payments
You can increase Social Security Disability payments by working at least 35 years before retiring, understanding the benefits of working past retirement age, and avoiding Social Securitys tax consequences. If you are married, married applicants can maximize their disability payments by claiming their spousal benefits.
Can You Do Any Other Type Of Work
If you cant do the work you did in the past, we look to see if there is other work you could do despite your medical impairment.
We consider your medical conditions, age, education, past work experience, and any transferable skills you may have. If you cant do other work, well decide you qualify for disability benefits. If you can do other work, well decide that you dont have a qualifying disability and your claim will be denied.
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What Happens To Ssd Benefits At Retirement Age
When you receive disability benefits through the SSDI program, they continue for as long as you continue to be disabled and meet the qualifying criteria set by federal regulations until you reach the age of full retirement. At that point, the monthly SSDI benefits automatically convert to retirement benefits.
There is nothing that you need to do in the way of notifying Social Security as you approach retirement age. It happens automatically and generally does not result in any change in the monthly amount that you receive. However, you may actually receive more money through retirement benefits if you were also receiving workers compensation payments that offset your SSDI payments.
When you receive workers compensation and some other types of public benefit payments in addition to SSDI, they may reduce what you get from SSDI. This offset ends when the payments from SSDI become retirement benefits because the offset no longer applies, so you receive your full retirement payment in addition to the other public benefit payments.
As previously mentioned, SSI payments do not convert to retirement payments when beneficiaries reach retirement age. You may see a change in your SSI payment if you qualify for and start to receive Social Security retirement payments. Retirement benefits must be reported to SSI as a source of income that may reduce your monthly SSI benefit. Discuss this further with an SSI lawyer if it applies to your situation.
Very Importantthe Information On This Page Is For People Going Through A Divorce Or Attorneys Helping Their Clientsdo Not Call Qdrodesk For Retirement Account Information Unless It Is In Regards To A Divorce Qdrodesk Is A Private Company That Only Helps With The Divorce Process It Is Not Related Or Connected To The Retirement Account Listed On This Page This Page Is Provided For Informational Purposes Only
SANTA CLARA COUNTY MACHINE SHOP EMPLOYERS-IAM PENSION PLAN
SANTA CLARA COUNTY MACHINE SHOP EMPLOYERS-IAM PENSION PLAN is a Defined Benefit Plan providing retirees with a predetermined monthly retirement benefit upon reaching a specific age. The retirement benefit paid to a retiree is typically calculated using a formula which often employs years of credited service under the plan and salary information. The retirement benefit is typically payable to the employee upon attainment of their normal retirement age for the remainder of his/her lifetime. Benefits under this type of plan are often referred to as accrued benefits. This type of plan does not maintain individual accounts for employees.
It is important to remember that under this type of plan, the Alternate Payee is typically not awarded a lump sum cash payment from the Plan. It is usually a requirement of the Plan that the amount awarded to the Alternate Payee be expressed in terms of a monthly benefit payable for either the lifetime of the Participant or the Alternate Payee.
Plan & Company Information:BOARD OF TRUSTEES SANTA CLARA COUNTY MACHINE SHOP EMPLOYERS â IAM
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Do I Have To Take Part B
You are not required to take Part B, and some people choose to delay. Deciding to opt out of Part B at this time is a personal choice and depends on your unique situation. about whether or not you should take Part B when you qualify for Medicare with a disability. Some people who qualify for Medicare under age 65 due to disability but are covered under an employers plan or a spouses employer plan, may opt to delay.2
Number Of Credits Needed For Survivors Benefits
The number of credits needed for family members to be eligible for survivors benefits depends on your age when you die. The younger you are, the fewer credits needed. Nobody needs more than 40 credits.
Under a special rule, we can pay benefits to your children and your spouse caring for your children, even if your record doesn’t have the number of credits needed. They can get benefits if you have credits for one and one-half year’s work in the three years before your death.
If you are receiving retirement or disability benefits at the time of your death, we will pay your survivors based on that entitlement. We will not have to determine your credits again.
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At What Age Does Social Security Disability Turn Into Regular Social Security
Your Social Security Disability benefits will automatically convert into regular Social Security retirement benefits when you reach your full retirement age.
The Social Security Administration says that when a person reaches full retirement age, their Social Security Disability will turn into regular Social Security retirement benefits. This rule applies to both Social Security Disability Insurance payments and Supplemental Security Income .
The SSA manages both the SSDI and SSI programs, but they have different eligibility requirements. Also, SSDI usually pays higher monthly cash benefits than SSI.
According to the SSA retirement benefits planner, a persons full retirement age can range between 65 and 67 years of age, depending on the month and year of your birth. People born after 1942 have a full retirement age of 66 years or older. Those born in 1960 or later must wait until they are 67 years old to start collecting full retirement benefits.
The benefit amount does not change when it converts into Social Security retirement benefits, except for cost-of-living adjustments . The AARP says that your SSDI benefits are the same as your retirement benefits would be at full retirement age, no matter how young or old you were when you became disabled.
Benefits For Widows Or Widowers With Disabilities
If something happens to a worker, benefits may be payable to their widow, widower, or surviving divorced spouse with a disability if the following conditions are met:
- The widow, widower, or surviving divorced spouse is between ages 50 and 60.
- The widow, widower, or surviving divorced spouse has a medical condition that meets our definition of disability for adults and the disability started before or within seven years of the worker’s death.
Widows, widowers, and surviving divorced spouses cannot apply online for survivors benefits. If they want to apply for these benefits, they should contact Social Security immediately at 1-800-772-1213 to request an appointment
To speed up the application process, complete an Adult Disability Report and have it available at the time of your appointment.
We use the same definition of disability for widows and widowers as we do for workers.
Can I Increase Or Decrease My Contribution
Yes. You just need to complete an Enrollment/Change Form to increase or decrease your deduction from your paycheck. Your change will take effect the first of the month following receipt of the form by the VTA Human Resources Department, unless you specify a later date. The Enrollment/Change Form can be obtained from the VTA Human Resources Department, or from your division.
Additional Benefits Available To Ihss Independent Care Providers:
Santa Clara County Federal Credit Union IHSS Homecare Providers are also eligible to join the Santa Clara County Federal Credit Union. For more information and branch locations, providers should contact the Credit Union directly at: 282-0700 or www.sccfcu.org
The CalSavers Retirement Savings Program is available for IHSS ProvidersCalSavers is an optional retirement program offered by the State ofCalifornia. The program is designed for all Californiaindividuals, including IHSS providers, which allows you to set upautomatic contributions from your bank account into a retirement plan.Enrollment into the program is easily done by phone oronline. Multilingual support and materials are available. To learn moreabout the CalSavers program, download the CalSavers Informational Flyer or visit the CalSavers website.
IHSSIndependent Care Providers are considered self-employed individuals. When applying toCalSavers, you will register as an individual by clicking the âGet Startedâ button and choosing the I want to signmyself up option. Self-employed individuals will not have an employer accesscode.
CalSaversis administered by the State of California. Santa Clara County IHSS and PublicAuthority Services are unable to assist with account setup. If you needassistance, contact the CalSaversHelp Desk at 650-6918 and mention that you are a self-employedindividual.
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You Must Meet Eligibility Requirements To Receive Ssi Payments
According to Benefit.gov, the SSI benefits program has different criteria than the SSDI program for determining eligibility. Because the funding for SSI benefits comes from the federal governments general funds instead of Social Security taxes, you do not need work credits to qualify for SSI.
You do have to meet the same level of disability as with SSDI. In other words, you must have a severe, long-term medical condition that prevents you from working. The SSA does not count all of your assets or income toward the program limits.
For example, the SSA does include your wages, pensions, and Social Security benefits as income. However, it does not count assistance from the Supplemental Nutrition Assistance Program , previously called food stamps, the majority of home energy assistance program benefits, and shelter you receive from private and nonprofit organizations. Your countable income will reduce your SSI benefits.
Individuals cannot own more than $2,000 in countable resources. The limit for couples is a total of $3,000. The SSA does not count your residence, your car , term life insurance, and burial plots.
Learn More About Ssdi And Ssi
A free consultation with an SSD lawyer at Liner Legal Disability Lawyers gets you all of the advice, guidance and experienced representation you need for all matters related to SSDI and SSI. From filing applications for benefits to handling appeals of benefit denials, Liner Legal helps you to obtain the benefits you deserve.
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Continuing Benefits & Deductions
If you’re currently a member of the CalPERS Health Program, you must meet specific requirements to continue your health insurance coverage into retirement, or maintain the right to re-enroll in the future after retirement.
To continue your CalPERS health benefit coverage after retirement, you must meet both of the criteria below:
- Be enrolled in a CalPERS health plan upon separation from employment, either in your own name or as a dependent
- Retire within 120 days of your separation from employment
If you don’t meet both requirements before you retire, you’ll lose all future rights to be in the CalPERS Health Program. If your family members are included in your CalPERS health plan at the time of your death, their enrollment will continue automatically if they’re eligible for and receive a monthly allowance.
Public Agency or School Members
If your employer doesn’t contract with CalPERS for health benefits, contact your employer to determine if your benefits will continue.
To continue dental coverage into retirement, you must:
- Be enrolled in a state-sponsored dental plan on the date of your separation from employment
- Retire within 120 days of your separation
If you’re enrolled in CalPERS Long-Term Care and have premiums deducted from your paycheck, you’ll need to call 982-1775 before you retire to find out how to continue your premium deductions.
Other Deduction Payments
Whats The Difference Between Disability And Retirement
First up, lets talk about the difference between disability and retirement benefits. Both are administered by the Social Security Administration , and both are programs designed to provide financial assistance to Americans who can no longer work. Both programs also have specific requirements beneficiaries must meet in order to qualify for benefits.
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Iv: What Financing Issues Does Ssdi Face
SSDI costs have leveled off, but the program faces a long-run funding gap. SSDI costs have stabilized as the baby boomers move from their peak disability-prone years to their peak retirement years. But SSDIs costs will still exceed its revenues. Over the next 75 years, its shortfall is projected to be about 6 percent of the programs costs or income.
SSDI has financial challenges but doesnt face bankruptcy. The payroll taxes that workers contribute out of every paycheck fund most of SSDIs costs. In addition, SSDI has built up trust fund reserves, which Social Securitys trustees estimate will last until 2065. At that point, tax revenues will be enough to pay for 92 percent of benefits even if policymakers do nothing to strengthen Social Securitys financing .
Though the SSDI trust fund has enough funding for more than three decades, policymakers must address overall Social Security financing before then.Overall, Social Security can pay full benefits for 16 more years, the trustees annual report shows, but then faces a significant, though manageable, funding shortfall. Policymakers should address Social Securitys long-term shortfall primarily by increasing Social Securitys tax revenues. Social Security will necessarily require an increasing share of our nations resources as the population ages, and polls show a widespread willingness to pay more to strengthen the program.