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lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 28090
Experience:  Taxes, Immigration, Labor Relations
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SOCIAL SECURITY DISABILITY BENEFITS AND HAVE RECEIVED NEWS

Customer Question

I AM RECEIVING SOCIAL SECURITY DISABILITY BENEFITS AND HAVE RECEIVED NEWS THAT MY LAST EMPLOYER IS TERMINATING ITS PENSION PLAN . THEY ARE OFFERING ME A LUMP SUM PAYMENT OF WHAT I HAVE ACCRUED. WILL I LOOSE MY BENEFITS OR WILL IT AFFECT ME SSDI IF I RECEIVE THIS PAYMENT?
Submitted: 1 year ago.
Category: Social Security
Customer: replied 1 year ago.
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Expert:  lev-tax replied 1 year ago.

Your retirement pay - either as periodic benefits or as a lump sum - will NOT affect your social security benefits that are based on your earning record.
ONLY earnings - wages or self-employment income - may affect your social security disability benefits
However - large lump sum retirement distribution will likely push your taxable income into higher tax brackets and that in turn might result that a part of your social security benefits becomes taxable as well.