tag:blogger.com,1999:blog-19246708.post3518172361434277701..comments2024-03-29T02:05:50.350-04:00Comments on Social Security News: Updated Disability Insurance Trust Fund NumbersUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-19246708.post-82724392226210477962016-01-20T05:17:38.489-05:002016-01-20T05:17:38.489-05:00These national insurance schemes are put in place ...These national insurance schemes are put in place to benefit people and I don't think that there's anything wrong in that. Perhaps they just need to be a bit more stringent on how money leaks out of the fund?WebbRowanhttp://financesmarter.com.au/noreply@blogger.comtag:blogger.com,1999:blog-19246708.post-6978800934298571242015-04-29T23:02:12.414-04:002015-04-29T23:02:12.414-04:00If you need to pay your rent now, then you don'...If you need to pay your rent now, then you don't have the luxury of waiting til you hit full retirement age. Plus, if your early retirement amount is greater than your insolvent-trustfund DI amount, you may be switched automatically (and then moved to the full amount at full retirement? we've never had that situation so I don't know). <br /><br />Also, waiting until full retirement age, or even age 70, is a good idea for people who are going to live a long time. People in their early/mid 60s who get DI are not all in this category. 1 in 5 men and almost 1 in 6 women who start getting DI die in the first 5 years of eligibility, and many die within a couple months or even within the 5-month wait for benefits (think stroke, stage 4 cancer, bad car accident, etc.). Taking early retirement rather than skimping with a 19% benefit reduction may make good sense for some DI recipients.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-82333124373319835772015-04-28T22:43:07.227-04:002015-04-28T22:43:07.227-04:00@ 10:16
Even if they would qualify...it wouldn...@ 10:16<br /><br />Even if they would qualify...it wouldn't make sense for a lot of them. Rather, they would be better off waiting until 65/66 for full retirement age benefits.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-45838599695664946022015-04-28T22:16:11.064-04:002015-04-28T22:16:11.064-04:00It wouldn't be higher than retirement if DI ha...It wouldn't be higher than retirement if DI had a 19% benefit cut.<br /><br />Let's say you're 65 years old when the trust fund becomes insolvent. You'd been getting $1000 a month in DI but now you're getting $810. If you switched to early retirement, you'd get $933 instead. It would come from the OAS trust fund, which wouldn't be insolvent and would pay full benefits. <br /><br />over 30% of SSDI recipients are over age 60. Not all of them will qualify for this switch, but some will.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-45430584555140424832015-04-28T17:59:05.487-04:002015-04-28T17:59:05.487-04:00Charles, I don't understand the comment "...Charles, I don't understand the comment "Some older beneficiaries would be shifted into retirement benefits". Right now, when a person getting social security disability attains Full Retirement Age, the check is re-named "retirement" by SSA. Most likely, it then is paid from the retirement funds.<br /><br />A disability check would always be higher than a retirement check for the same person, assuming no earnings after Established Onset Date (EOD), because it is figured as if the person suddenly became Full Retirement Age. The EOD puts an end-point to the calculation period -- so when SSA calculates the benefit, fewer years are used in figuring the Average Monthly Wage for the PIA. And, the years of zero earnings after EOD aren't counted -- but they would be if SSA were doing a retirement calculation (minus 5 low years, of course).Anonymousnoreply@blogger.com