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dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3441
Experience:  37 plus years of SSD practice
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A friend of mine just received s Social Security in

Customer Question

A friend of mine just received his Social Security for Disability in September 2015. He received 16K in back pay. How long can he keep that 16 K or rebuild it, since he paid all his bills off as soon as he got it. Does he have one year from when he received the money to re-build his bank account to that amount, or less time. He's worried that he wants to save back as much as he can but doesn't want to lose any of his monthy pension by doing so.
Submitted: 1 year ago.
Category: Social Security
Expert:  CGCPA replied 1 year ago.

There is no rebuilding for SS Disability. He received a retroactive benefit to the date of his application. It is his to use as he needs. He will also receive a regular monthly benefit payment. His benefit will not be based on or reduced by savings; that only applies to SSI which has asset restrictions. Hopefully he was able to get current on his bills and will be able to remain so. Please let him know he can rest, no rebuilding is required.

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