Changes Take Effect in 2020 for Social Security
Feb 20, 2020
Tampa, FL (Law Firm Newswire) January 20, 2020 – Each year the Social Security Administration (SSA) makes changes to the program. Changes for 2020 include the annual cost-of-living adjustment for Social Security benefits and a boost in the amount someone can earn without forfeiting any benefits.
Here are some changes taking effect in 2020:
Cost of living adjustment: Recipients of Social Security benefits received a 1.6 percent increase for 2020. The increase started on December 31, 2019, for Supplemental Security Income beneficiaries.
Social Security Disability Insurance (SSDI) and Social Security Retirement recipients can look for the raise in their January 2020 payments.
SSDI eligibility: To be eligible for SSDI, a disabled person must show that they are unable to earn a certain amount of money.
Substantial Gainful Activity (SGA) — due to the limitation caused by their disability. In 2020, the SGA level is $1,260 for non-blind individuals and $2,110 for blind individuals.
Full retirement age: Initially, Social Security recipients could claim full retirement benefits at age 65. Over the years, the eligibility age for full retirement has gone up. For people who turn 62 in 2020, the full retirement age is 66 years and two months. For survival benefits, the full retirement age is 66.
Earnings limits: Two sets of earnings limits apply to early retirees. If a person is younger than full retirement age throughout 2020, they can earn up to $18,240 during the year before having to give up any Social Security benefits. If the person makes more than the limit, they lose $1 in annual benefits for every $2 of earnings over the limit. For example, if the person earns $20,240, $2,000 over the limit, they give up $1,000 in benefits. The $18,240 is $600 more than the amount set in 2019. If a person reaches full retirement age during 2020, they can earn up to $48,600, and they only lose $1 of benefits for every $3 in earnings over the limit. Earnings after the person reaches full retirement age do not count.
Trial work period for SSDI recipients: During a trial work period, SSDI recipients can work for nine months over 60 months without losing benefits. For 2020, the SSA considers a month during which the SSDI recipient receives $910 per month a trial work month
.
Learn more at http://www.floridasocialsecurity.com/.
David W. Magann, P.A.
Main Office:
156 W. Robertson St.
Brandon, FL 33511
Call: (813) 657-9175
Tampa Office:
4012 Gunn Highway #165
Tampa, Florida 33618
View Larger Map
- Be Aware of How You Could Lose Your Social Security Benefits
1.Cessation of Disability: Usually a “cessation of benefits” occurs when you are not seeking regular and continuing treatment for the medical problems in the original determination for the grant of benefits. Also, if you are able to make enough money to pass above a certain threshold earnings amount, then you’ll stop getting disability benefits. For […] - NEW IMPAIRMENT LISTING IN FULL EFFECT & APPLICABLE TO ALL ADMINISTRATIVE PROCEEDINGS IMMEDIATELY
NEW MENTAL LISTINGS Effective: January 17, 2017 After a revision of the Diagnostic and Statistical Manual (DSM), and thousands of public comments later, the Social Security Administration (SSA) has published significant revisions to its mental impairment listings. SSA had issued a Notice of Proposed Rule Making in August 2010, proposing what at the time appeared to be […] - SSA is Heading For Delays Again After Recent Cutbacks & Years of Improvement
Service Cuts, Computer Problems Cloud Social Security’s 79th Birthday: The Social Security Administration should have reason to celebrate. After all, August 14, 2014, marked the 79th anniversary of the day when President Franklin Roosevelt signed the Social Security Act, which ushered in the landmark entitlement program. However, the agency’s birthday was a less than cheerful […] - SSA is Ramping Up Disability Reviews in 2014
The Social Security Disability Benefits Reform Act of 1984 (“DBRA 1984”) was passed by a unanimous, bipartisan vote in the House and Senate (99-0) in September 1984. President Reagan signed the law on October 9, 1984, when it became Pub. L. No. 98-460. One of the main provisions required “medical improvement” before benefits could be terminated where […] - Never Allow A Non-Attorney to Represent You At Your Social Security Hearing!
You should NOT have a non-attorney clerk at your hearing? This seems obvious, but several Florida law firms and any company identifying themselves as “Experts”, some who are advertising on TV, are sending non-attorney clerks to Social Security Hearings simply because its cheaper for them to do so rather than have an actual attorney appear. How in […]
