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Old 05-12-2011, 11:34 AM   #16
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

Quote:
•Example 1 - if you are age 45 and earning around $50,000 annually, your disability insurance benefits would be $1,494 per month, with a maximum family benefit of $2,767 per month.
•Example 2 - if you are age 45 and earning around $25,000 annually, your disability insurance benefits would be $965 per month, with a maximum family benefit of $1,472 per month.
•Example 3 - if you are age 35 and earning around $50,000 annually, your disability insurance benefits would be $1,577 per month, with a maximum family benefit of $2,901 per month.
•Example 4 - if you are age 35 and earning around $25,000 annually, your disability insurance benefits would be $1,007 per month, with a maximum family benefit of $1,609 per month.
•Example 5 - if you are earning around $95,000 or more, you probably qualify for the maximum disability benefits under the Social Security system. In that situation, the maximum individual benefits are $2,224 each month with a maximum family benefit of $3,945 monthly.
I don't think these examples take into account how long the person has actually worked tho.

Last edited by BlueSkies14; 05-12-2011 at 11:39 AM.

 
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Old 05-12-2011, 12:04 PM   #17
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

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Originally Posted by BlueSkies14 View Post
I don't think these examples take into account how long the person has actually worked tho.
so if your 45 and making $50,000 you would get $1,494 with a max of $2,767 a year
how many years would you have to work would you have to make $50,000 from the get go at age 21 ?

 
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Old 05-12-2011, 02:03 PM   #18
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

SS uses a formula that uses your age, number of credits as required at a certain age, and then your earnings history. Two people age 50 who earned $45,000 in the year prior to becoming disabled may have vastly different SSDI benefit amounts.

Person A never earned more than $45,000/yr and over the 30 yr prior to date of disability started at $25,000 and gradually increased to $45,000/yr just prior to date of disability. But also has years of $0 earnings.

Person B also has a 30 yr work history, but a history of higer earnings and years that never went below $45,000 and some years at $90,000.

So each persons formula comes out differently for award amount. www.ssa.gov under Disability has some answers to how the SSDI benefit is calculated.
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Last edited by SpineAZ; 05-12-2011 at 02:04 PM.

 
Old 05-12-2011, 02:17 PM   #19
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

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Originally Posted by SpineAZ View Post
SS uses a formula that uses your age, number of credits as required at a certain age, and then your earnings history. Two people age 50 who earned $45,000 in the year prior to becoming disabled may have vastly different SSDI benefit amounts.

Person A never earned more than $45,000/yr and over the 30 yr prior to date of disability started at $25,000 and gradually increased to $45,000/yr just prior to date of disability. But also has years of $0 earnings.

Person B also has a 30 yr work history, but a history of higer earnings and years that never went below $45,000 and some years at $90,000.

So each persons formula comes out differently for award amount. www.ssa.gov under Disability has some answers to how the SSDI benefit is calculated.
Thanks spineaz the way that they figure it out is stupid my lawyer told me that they do some weird calculations there so I was surprised to receive the amount I'm getting so was the person at SSa when she told me because I was only 54 at that time

 
Old 05-12-2011, 03:20 PM   #20
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

Remember the max is around $2200/mo and to get that the person would have to have a consistent work history of probably at least $75,000 - $100,000/yr for many years in their history. (High earners only pay SS tax on the first $106,000 of annual earnings thus even if making $750,000/yr their SSDI is only $2200).
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Old 05-13-2011, 08:25 AM   #21
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

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Originally Posted by SpineAZ View Post
Remember the max is around $2200/mo and to get that the person would have to have a consistent work history of probably at least $75,000 - $100,000/yr for many years in their history. (High earners only pay SS tax on the first $106,000 of annual earnings thus even if making $750,000/yr their SSDI is only $2200).
Get this Spine. This is the main msg board I post on but I also post on two different boards. I met a guy who was approved for SSDI. He is only 29 years old. He had worked for only 8 years but the last 6 were with raytheon where he was making approx.
$75K per year. He did not start off making that amount either and his earnings prior to raytheon were considerably less>>>under $25K per year. He applied for SSDI for panic/anxiety just like me. I asked him how much his monthly benefit was thinking this guy will be lucky to get even $1K even tho he was making 75 grand @ the end. I was literally floored when he told me he was getting $1950 per month. I could not believe it. I hope they did not screw up the calculation and come back later telling him we overpaid you. LOL>>>>That would be their screw-up, not his IMO. I thought $1950 was a little high for someone his age tho. Weird!

 
Old 05-13-2011, 10:50 AM   #22
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

When someone goes out of work at age 50, there are many more years to use in the formula to compute SSDI benefit. If at age 29 all 10-12 work years are relatively high earning years then a high benefit is possible. Think of an attorney who gets out of law school at 23, works for 10 yr at $80,000 yr PLUS taxable annual bonuses. Even only in early 30's his benefit will be high. But the 50 yr old who worked for total compensation of $35,000 and gradually peaking at $75,000 may have a lower benefit.

SS uses a formula, based on age and years in which you earned enough credits, and takes the average of X amount of highest earning years. Someone may have a 25 yr work history with some years at $0 (unemployment isn't taxed for SS - FICA taxes though may be subject to state and/or federal taxes). Also years of minimal earnings may not count if not enough in a quarter (or multiple quarters) to earn SS credits.

Also keep in mind some people forget to count any taxable bonuses or commissions. So maybe they think they earned $42,000 but forgot about the bonuses that were paid separately. That's why it's important to review your SS statement annually.
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C5-C7 foraminotomy 08

Last edited by SpineAZ; 05-13-2011 at 10:53 AM.

 
Old 05-13-2011, 08:28 PM   #23
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

Quote:
Originally Posted by SpineAZ View Post
When someone goes out of work at age 50, there are many more years to use in the formula to compute SSDI benefit. If at age 29 all 10-12 work years are relatively high earning years then a high benefit is possible. Think of an attorney who gets out of law school at 23, works for 10 yr at $80,000 yr PLUS taxable annual bonuses. Even only in early 30's his benefit will be high. But the 50 yr old who worked for total compensation of $35,000 and gradually peaking at $75,000 may have a lower benefit.

SS uses a formula, based on age and years in which you earned enough credits, and takes the average of X amount of highest earning years. Someone may have a 25 yr work history with some years at $0 (unemployment isn't taxed for SS - FICA taxes though may be subject to state and/or federal taxes). Also years of minimal earnings may not count if not enough in a quarter (or multiple quarters) to earn SS credits.

Also keep in mind some people forget to count any taxable bonuses or commissions. So maybe they think they earned $42,000 but forgot about the bonuses that were paid separately. That's why it's important to review your SS statement annually.
All I can say more power to him it's his money so if ss did mke a mistake they will discover it and will get it back

 
Old 05-13-2011, 09:40 PM   #24
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

And it's common to get more than your SS statement says. My birthday is in August. So if still working I would get my SS statement around now, 3-4 mo before my birthday,. And it would cover wages thru end of 2010. If I become disabled in Feb 2012 then SS also factors in all of my 2011 income whereas my SS statement received in 2011 only reflects wages thru end of 2010.
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Old 05-14-2011, 06:22 AM   #25
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

SpineAZ, I think I heard they weren"t sending those out anymore but you can look it up on their website. Have A Good Day

Last edited by jgrangran; 05-14-2011 at 06:22 AM.

 
Old 05-14-2011, 07:03 AM   #26
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

It appears you are right. SS recently announced suspending the statements due to budget limitations. Hopefully they'll start sending them out again. Luckily there is a wealth of information and benefit calculators on www.ssa.gov
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Fusions: L5-S1 (87), L4-S1 (93), C5-C7 ('06), L3-S1 ('10)
C5-C7 foraminotomy 08

Last edited by SpineAZ; 05-14-2011 at 07:04 AM.

 
Old 05-14-2011, 07:26 AM   #27
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

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Originally Posted by SpineAZ View Post
It appears you are right. SS recently announced suspending the statements due to budget limitations. Hopefully they'll start sending them out again. Luckily there is a wealth of information and benefit calculators on www.ssa.gov
They are also stopping paper checks you have to have direct deposit or you will have to have get there debit card I think it is from Comerica bank but they charge you for the transaction fee not SSa the bank dose I think they call it a convenience fee

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Old 05-14-2011, 07:29 AM   #28
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

Thanks that helps other to make sure they do direct desposits

 
Old 05-14-2011, 07:34 AM   #29
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

i get an extra 640.00$ for my 15 y/o son.
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Old 05-14-2011, 09:42 AM   #30
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Re: SSDI / Has anyone received more money than what it stated on your SS statement?

They've gradually phased out paper checks which is a good idea. Many banks give free checking or savings with direct deposit, though some have some fees. Thus the card, direct deposit and paper checks ca all involve fees (those without bank accounts often cash the check and pay a fee to at places like check cashing facilities, grocery stores, Walmart, etc.

Direct deposit is the most reliable and safest as there is no check to get lost or stolen! And it doesn't matter if you are out of town, in the hospital, or stuck at home due to a snowstorm as the money is safely deposited no matter where you are or if you're unable to get to the bank.
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Rt&Lt thumb arthroplasty 2012 ; RT TKR & Bilat CTS 2011
Fusions: L5-S1 (87), L4-S1 (93), C5-C7 ('06), L3-S1 ('10)
C5-C7 foraminotomy 08

Last edited by SpineAZ; 05-14-2011 at 09:45 AM.

 
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