2019 Social Security Benefits
Individuals receiving Social Security benefits for 2019 are seeing a significant increase in their benefit amount. Due to the improved economy and GDP in 2018, the Cost of Living Adjustment (COLA) for Retirement and Disability benefits increased by 2.8% for this year. Additionally, income thresholds for reviewing a person's eligibility for benefits increased and are as follows: A person applying for disability can earn up to $1,220.00 ($2,040.00 if blind) in gross monthly income and still be eligible to apply. This threshold is called Substantial Gainful Activity (SGA). Did you know that a rule exists to allow individuals who are currently receiving benefits to work without immediately affecting their benefits? The rule, called "Trial Work Period," allows a person to both receive benefits and work if their gross income is below $880.00 per month. If earnings exceed $880.00 for 9 months during a 5 year period, eligibility will cease. If you have questions about your benefit amount or your eligibility in applying for disability, call The Law Office of Malyuk McDaniel Kasper LLC at 330.929.9700 today.
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