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Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16559
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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When I filed for my early retirement benefits, in 2006, fior

Customer Question

When I filed for my early retirement benefits, in 2006, fior whatever reason I forgot to mention some Worker's Comp problems that I have had from Thrifty Drug. I have a disablilty rating on each arm(15%X2) both requiring surgery and a chronic back problem that I am still taking medication for after more then thirty years and it is rated at 30%. I am wondering if I screwed up by not mentioning this to the representative at the time
Submitted: 3 years ago.
Category: Social Security
Expert:  Megan C replied 3 years ago.

MyVirtualCPA :

I realize you have a question about social security. My goal is to help you better understand your options.

MyVirtualCPA :

Thanks for your question. I wouldn't say you "screwed up" but I would say that you need to tell social security about your worker's compensation benefits.

MyVirtualCPA :

The combination of your social security disability and your worker's compensation pay cannot exceed 80% of what you drew pre-retirement, so it is possible that you may have been overpaid. If your workers comp is only medical reimbursement and you don't get a check - don't worry this shouldn't impact you.

MyVirtualCPA :

I meant to say the combination of your early social security retirement and worker's compensation can't exceed 80% of your pre-disability income. However, once you reach full retirement age (66) none of this will matter

MyVirtualCPA :

So, I suggest that you call social security and let them know about the worker's compensation. It's always better to be upfront with them, rather than they find out through other means

MyVirtualCPA :

Is there anything else I can assist you with today? If not, please rate as "excellent" so that I may receive credit for assisting you today