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2019 Social Security Benefits

February 20, 2019

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 our office today.

 

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