[Ohio-Talk] Social Security Work Incentives And More

Wed Dec 23 12:54:08 UTC 2020

I feel quite certain that the January 11 Zoom meeting is at 5:00 p.m. Eastern Standard Time, not Daylight time. If you are going to spread word of this meeting, please make sure that you get people there at the correct time.

Barbara Pierce, President Emerita
National Federation of the Blind of Ohio
Barbara.pierce9366 at gmail.com
440-774-8077

The National Federation of the Blind knows that blindness is not the characteristic that defines you or your future. Every day we raise expectations for blind people because low expectations create obstacles between blind people and their dreams. You can live the life you want; blindness is not what holds you back.

> On Dec 22, 2020, at 3:02 PM, Suzanne Turner via Ohio-Talk <ohio-talk at nfbnet.org> wrote:
> 
> Ohio, Members and Friends,
> 
> 
> 
> On January 11, 2021 at 5:00 PM EDT. There will be a Zoom Conference call on
> three key benefits, The Social Security Cost Of Living, Work Incentives and
> the Personal Care Assistance Program.
> 
> 
> 
> Please share the information with anyone to whom you think will benefit from
> learning about these programs.
> 
> 
> 
> If you are currently working, seeking employment or interested in work, than
> this vital information is for you.
> 
> 
> 
> Also, I have inserted below for your review, the Social Security Fact Sheet
> on the Cost Of Living Adjustment amounts for 2020 and 2021 at the bottom of
> this email.
> 
> 
> 
> The top number in the fact sheet displays the 2020 adjustment and the bottom
> is the upcoming 2021 adjustment amounts. If you have questions, please email
> me at SMTurner.234 at gmail.com <mailto:SMTurner.234 at gmail.com> .
> 
> 
> 
> Our speakers will be Brandon Smith, who is the Public Affairs Specialist at
> the Social Security Administration and Katie Scheetz, who is the Program
> Specialist for PCA Program & Deaf Services at the Bureau of Services for the
> Visually Impaired (BSVI).
> 
> 
> 
> These professionals are quite knowledgeable and will take your questions.
> 
> 
> 
> So, set this valuable meeting in your calendar. 
> 
> 
> 
> I will send out a reminder one week prior to the event.
> 
> 
> 
> ///
> 
> 
> 
> Cost Of Living Adjustment: COLA facts2021
> 
> Social Security logo
> 
> 2021 SOCIAL SECURITY CHANGES 
> 
> Cost-of-Living Adjustment (COLA): 
> 
> Based on the increase in the Consumer Price Index (CPI-W) from the third
> quarter of 2019 through the third quarter of 2020, Social Security and
> Supplemental Security Income (SSI) beneficiaries will receive a 1.3 percent
> COLA for 2021. Other important 2021 Social Security information is as
> follows: 
> 
> 
> 
> table with 3 columns and 3 rows
> 
> Tax Rate 
> 
> 2020 
> 
> 2021  
> 
> Employee 
> 
> 7.65% 
> 
> 7.65%  
> 
> Self-Employed 
> 
> 15.30% 
> 
> 15.30% 
> 
> table end
> 
> 
> 
> NOTE: The 7.65% tax rate is the combined rate for Social Security and
> Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the
> applicable
> 
> taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on
> all earnings. Also, as of January 2013, individuals with earned income of
> more
> 
> than $200,000 ($250,000 for married couples filing jointly) pay an
> additional 0.9 percent in Medicare taxes. The tax rates shown above do not
> include the
> 
> 0.9 percent. 
> 
> 
> 
> table with 4 columns and 9 rows
> 
> 
> 
> 
> 
> 2020 
> 
> 2021  
> 
> Maximum Taxable Earnings 
> 
> Social Security (OASDI only) 
> 
> $137,700 
> 
> $142,800  
> 
> Maximum Taxable Earnings  
> 
> Medicare (HI only) 
> 
> No Limit  
> 
> Quarter of Coverage 
> 
> 
> 
> $1,410 
> 
> $1,470  
> 
> Retirement Earnings Test Exempt Amounts 
> 
> Under full retirement age 
> 
> $18,240/yr. ($1,520/mo.) 
> 
> $18,960/yr. ($1,580/mo.)   
> 
> Retirement Earnings Test Exempt Amounts  
> 
> NOTE: One dollar in benefits will be withheld for every $2 in earnings above
> the limit. 
> 
> Retirement Earnings Test Exempt Amounts  
> 
> The year an individual reaches full retirement age 
> 
> $48,600/yr. ($4,050/mo.) 
> 
> $50,520/yr. ($4,210/mo.)   
> 
> Retirement Earnings Test Exempt Amounts  
> 
> NOTE: Applies only to earnings for months prior to attaining full retirement
> age. One dollar in benefits will be withheld for every $3 in earnings above
> the limit. 
> 
> Retirement Earnings Test Exempt Amounts  
> 
> Beginning the month an individual attains full retirement age 
> 
> None 
> 
> table end
> 
> 
> 
> table with 5 columns and 18 rows
> 
> 
> 
> 
> 
> 2020 
> 
> 2021  
> 
> Social Security Disability Thresholds 
> 
> Substantial Gainful Activity (SGA) 
> 
> Non-Blind 
> 
> $1,260/mo. 
> 
> $1,310/mo.  
> 
> Social Security Disability Thresholds  Substantial Gainful Activity (SGA)  
> 
> Blind 
> 
> $2,110/mo. 
> 
> $2,190/mo.  
> 
> Social Security Disability Thresholds  Substantial Gainful Activity (SGA)  
> 
> Trial Work Period (TWP) 
> 
> $ 910/mo. 
> 
> $ 940/mo.  
> 
> Social Security Disability Thresholds  
> 
> Maximum Social Security Benefit: Worker Retiring at Full Retirement Age 
> 
> $3,011/mo. 
> 
> $3,148/mo.  
> 
> SSI Federal Payment Standard 
> 
> Individual 
> 
> $ 783/mo. 
> 
> $ 794/mo.  
> 
> SSI Federal Payment Standard  
> 
> Couple 
> 
> $1,175/mo. 
> 
> $1,191/mo.  
> 
> SSI Resource Limits 
> 
> Individual 
> 
> $2,000 
> 
> $2,000  
> 
> SSI Resource Limits  
> 
> Couple 
> 
> $3,000 
> 
> $3,000  
> 
> SSI Student Exclusion 
> 
> Monthly limit 
> 
> $1,900 
> 
> $1,930  
> 
> SSI Student Exclusion  
> 
> Annual limit 
> 
> $7,670 
> 
> $7,770  
> 
> Estimated Average Monthly Social Security Benefits Payable in January 2021 
> 
> 
> 
> Before 1.3% COLA 
> 
> After 1.3% COLA  
> 
> Estimated Average Monthly Social Security Benefits Payable in January 2021  
> 
> All Retired Workers 
> 
> $1,523 
> 
> $1,543  
> 
> Estimated Average Monthly Social Security Benefits Payable in January 2021  
> 
> Aged Couple, Both Receiving Benefits 
> 
> $2,563 
> 
> $2,596  
> 
> Estimated Average Monthly Social Security Benefits Payable in January 2021  
> 
> Widowed Mother and Two Children 
> 
> $2,962 
> 
> $3,001  
> 
> Estimated Average Monthly Social Security Benefits Payable in January 2021  
> 
> Aged Widow(er) Alone 
> 
> $1,434 
> 
> $1,453  
> 
> Estimated Average Monthly Social Security Benefits Payable in January 2021  
> 
> Disabled Worker, Spouse and One or More Children 
> 
> $2,195 
> 
> $2,224  
> 
> Estimated Average Monthly Social Security Benefits Payable in January 2021  
> 
> All Disabled Workers 
> 
> $1,261 
> 
> $1,277 
> 
> table end
> 
> 
> 
> Suzanne Turner, Ohio Affiliate Vice President
> 
> (216) 990-6199 
> 
> 
> 
> 
> 
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