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dylatess, Attorney
Category: Legal
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Experience:  36 plus years representing clients with their legal issues
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Hello I am 56 yrs old disabled and collecting social security

Resolved Question:

Hello I am 56 yrs old disabled and collecting social security disability. I am living in an affordable housing unit (not Hudd) so my rent is at the 35%. I just found out my company I worked for for 27 yrs has offered me a one time offer settlement on my pension of about 30,000 dollars before taxes come out. I am about 16,200.00 in debt and would love to be able to pay everyone from this money. My monthly income is only 1200 dollars and there is never anything left out of this check after I pay my bills to the point that my daughter has to buy my food. My question is if I accept this one time pension offer will it hurt my social security disabilty income check or my affordable housing living? Also I have not filed an income tax since I became disabled will that affect me as well? Thank you, Janet
Submitted: 1 year ago.
Category: Legal
Expert:  dylatess replied 1 year ago.
Hello and thank you for your question. For over 34 years I have answered questions just like yours. And I look forward to assisting you.

Please note that SSD benefits are not income based. That is, your eligibility to continue benefits is only affected if you are working. And the money you receive from a pension payout is not considered as wages. Therefore it will not affect your SSD if you accept the payout. the same applies for your affordable housing. However, the pension money will be reported as income to the IRS and you will owe taxes on this money. I wish you well.
Customer: replied 1 year ago.

Thankyou very much for your answer I pray it is the correct answer...Janet

Expert:  dylatess replied 1 year ago.
Please be so kind as to rate my answer ok or better. otherwise I am not compensated.

note, you should be in really good shape once you pay off your bills.
dylatess, Attorney
Category: Legal
Satisfied Customers: 4702
Experience: 36 plus years representing clients with their legal issues
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Expert:  dylatess replied 1 year ago.
Please be so kind as to rate my answer as ok or better. Otherwise, I am not compensated and the site keeps your deposit.

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