[Jobs] Is there a Penalty when you Retire?

Sarah A. Clark sarah at sarahaclark.com
Fri Aug 24 01:29:59 UTC 2018


This was certainly true as of 2017.

Sarah


----- Original Message ----- 
From: "Daniel Frye via Jobs" <jobs at nfbnet.org>
To: "Jobs for the Blind" <jobs at nfbnet.org>
Cc: "Daniel Frye" <dbfrye0468 at gmail.com>
Sent: Thursday, August 23, 2018 6:15 PM
Subject: Re: [Jobs] Is there a Penalty when you Retire?


> Steve:
>
>
> Unless the law has changed, and I am confident that it has not changed 
> with respect to this issue, you will not receive a diminished check when 
> you turn full retirement age. The only thing that will happen is that the 
> characterization of the benefits that you will receive from the government 
> will change from disability to retirement. As I tried to explain in my 
> previous posting, The payment of title to disability insurance represents 
> the amount that you are determined eligible to receive at full retirement 
> age, at that point when you become deemed disabled and eligible for 
> benefits. So, in short, you will receive a letter from Social Security at 
> that point when you reach full retirement age (which varies for most of us 
> now) and you will learn that you have been transitioned from one program 
> to another, but your benefit amount should not be diminished. The only 
> disadvantage in terms of your retirement benefits, should you receive 
> disability benefits, relate to the fact that you are receiving your full 
> retirement benefit amount at an age in your life significantly earlier 
> than ordinary; had you not received disability, and had you continued 
> working, your benefits might have been higher when you retired. But, what 
> you are receiving now on disability benefits will not diminish when you 
> turn retirement age. Of course, all of this is also dependent on whether 
> the Social Security program continues to be funded at its current rate and 
> under The existing formula. This is the bigger question that conscientious 
> consumers should be mindful of as we move forward. I urge you not to allow 
> inaccurate press accounts to frighten you about the prospect of the 
> program becoming entirely unfunded; this is unlikely, but there is some 
> substantial likelihood that there may be a fractional, across-the-board 
> reduction for everybody. In this case, it will not be fairly attributable 
> to blindness.
>
> I hope this explanation offers you some sense of consolation as to your 
> question. If people have other questions about Social Security, and 
> assuming that I am not overwhelmed, I invite you to reach out to me for 
> private consultation through my small, consulting firm.
>
>
>
> Dan Frye
> (410) 241-7006 (personal mobile)
>
> Please forgive brevity and any typographical errors.
> Sent from my iPhone
>
>> On 23 Aug 2018, at 9:01 pm, Steven Atkinson via Jobs <jobs at nfbnet.org> 
>> wrote:
>>
>> Dave, I am forty-nine years old now and I have been receiving S.S.D.I.
>> payments since 2001 because I am blind.   I worked right up till I lost 
>> my
>> eyesight when I was thirty one years old.  I am not going to lose my
>> S.S.D.I. benefits when I am at retirement age, am I?  I will still be 
>> blind
>> and disabled and I believe my S.S.D.I. benefits should and will continue. 
>> I
>> appreciate someone confirming this with me.  If my income suddenly goes 
>> down
>> when I turn sixty-five, I am in big trouble!
>>
>> Steve
>> -----Original Message-----
>> From: Jobs [mailto:jobs-bounces at nfbnet.org] On Behalf Of Dave via Jobs
>> Sent: Thursday, August 23, 2018 3:48 PM
>> To: jobs at nfbnet.org
>> Cc: Dave
>> Subject: [Jobs] Is there a Penalty when you Retire?
>>
>> \Hello,
>>
>> This question is for those of you receiving Social Security Disability,
>> or if you are an Expert in the methods and Practises of the Social
>> Security Agency.
>>
>>
>> Some of you worked actual jobs, at least long enough to build up enough
>> credit to be able to apply and receive Social Security Disability
>> payments.
>>
>> Do you know if receiving these SSD payments if it will affect the amount
>> of Social Security Retirement payments when you actually Retire?
>>
>>
>> The Retirement payment is calculated by some formula run against the
>> income you earned as a employee, or Business owner.  However, if you once
>> made $3500 a month, then could not find further work, and you end up on
>> SSD, and now you get $1400 each month as a Disability payment, does
>> Social Security now look at that $1400 each month as income?  And if
>> they do, the $1400 each month is way less than the $3500, and so will it
>> change what you may receive each month when you retire?
>>
>>
>> Applying for and receiving SSD could be detrimental to the amount you
>> eventually receive once you retire.
>>
>>
>> <Slight laugh>  I was reading some Social Security info yesterday, and
>> was stunned to see the typical amount people receive as a Retirement
>> benefit was only around $1100 per month.
>>
>> I am not sure how people are living on such a small amount.
>>
>> So, thought I would ask a question or two.
>>
>> Grumpy Dave
>>
>>
>>
>>
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>
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