Individuals receiving Social Security benefits for 2020 are seeing an increase in their benefit amount. The Cost of Living Adjustment (COLA) for Retirement and Disability benefits increased by 1.6% for this year due to the rise in GDP in 2019.
Additionally, income thresholds for reviewing a person's eligibility for benefits increased and are as follows:
A person applying for disability can be working and earn up to $1,260.00 ($2,110.00 if blind) in gross monthly income. This threshold is called Substantial Gainful Activity (SGA). A person who is currently receiving benefits and is attempting to work, can earn $910.00 in gross income per month without affecting their benefits. Under the "Trial Work Period" rule, a person can receive both benefits and work, but if their gross income exceeds this threshold in 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 330.929.9700 to speak with an attorney today.