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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 13228
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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If I start receiving a monthly company pension benefit of $6,000

Resolved Question:

If I start receiving a monthly company pension benefit of $6,000 in 2014, will my monthly social security disability payment be reduced or eliminated?
Submitted: 12 months ago.
Category: Social Security
Expert:  Megan C replied 12 months ago.

MyVirtualCPA :

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

MyVirtualCPA :

So long as your pension is from work that you performed while paying into social security, it will not have any impact on your benefit

MyVirtualCPA :

So your disability will not be reduced or eliminated

MyVirtualCPA :

Do you have any further questions?

MyVirtualCPA :

If not, please rate my response as "excellent" so that I may receive credit for assisting you today

Customer:

No, thank you.

Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 13228
Experience: Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
Megan C and other Social Security Specialists are ready to help you
Expert:  Megan C replied 12 months ago.
Thanks, XXXXX XXXXX your positive rating. Please come back and visit MyVirtualCPA for any of your tax, finance, or social security needs. It was a pleasure working with you today.

In a couple of days you may receive a short survey. Please fill out the survey favorably as this will assist me with my rankings on the site.

Thanks again for being a valued JA customer.
Customer: replied 8 months ago.

Social Security Disability notified me that my Medicare Part B premium will double next year due to my income reported on 2012 Tax Return. What is the maximum increase and the formula for arriving at the increased premium rate? I made significant withdrawals from my 401K and Traditional IRA. I thought unearned income and pension income were exempt from their calculations. I have no earned income.

Expert:  Megan C replied 8 months ago.
Thanks for your follow up. Your unearned income counts as income for Medicare. You can read all about this in this publication


http://www.ssa.gov/pubs/EN-05-10536.pdf

For married filing joint it's 170,000.

Please let me know if you need anything else. If not please rate positive so that I may receive credit for assisting you today.
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 13228
Experience: Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
Megan C and other Social Security Specialists are ready to help you

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