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If person received lump sum settlement from work comp in NY…

if person received lump sum...
if person received lump sum settlement from work comp in NY and then apply for ssd, does she have to tell about this to them
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Answered in 12 minutes by:
11/20/2017
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,894
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified

Hi - Lane here. Yes, if you don't what can happen is you'll end up with one of those huge (depending on the offset and the amounts) overpayment bills from Social Security.

...

In most situations, Social Security requires that SSDI benefits be reduced so that the total monthly amount that a disabled worker receives is no more than 80% of the amount she earned when she was fully employed. The process of Social Security reducing disability benefits to account for worker’s compensation is called a worker’s compensation “offset.”

...

To calculate the amount of the offset for a particular recipient, Social Security first determines what it calls the “applicable limit,” or the maximum total monthly amount of combined benefits that the recipient is allowed to get under federal law.

When a claimant receives more money than the applicable limit in any given month, then Social Security offsets SSDI in the amount required to bring the total back down to the applicable limit.

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Customer reply replied 9 months ago
there are no any monthly payments by work comp now,she got lump sum and spent it all and now she does not have any money

SO sorry to hear. But yes she either has to tell them OR wait until they pick up on it and ask for a pay-back. Again, sorry to be the messenger here.

...

But yes, the SSA system checks with all monthly state workers comp systems in order to perform the offset calculations

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Customer reply replied 9 months ago
what mean pay back

make her pay back the portion of Social Security that would have been offset becasue of the Workers comp offset

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Customer reply replied 9 months ago
she does not have any thing now

The payback, if one is determined, would only come after receiving Social Security benefits and SSA determining that the amount of SSDI is too much becasue of the WC offset.

...

To answer the question, again, yes she needs to tell them, so that won't happen, and so that whatever she gets from SSDI will not be reduced.

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Please let me know if you have ANY questions at all, before rating me.

If this has helped, and you DON’T have other questions … I'd appreciate a positive rating, using the stars on your screen, and then clicking “submit" – That’s the only way I’ll be credited for the work.

I hope you’ll rate me based on my accuracy and thoroughness (as opposed to any good news/bad news content). Thank you!

...

But again, if you need more on this, please let me know.

Lane

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Customer reply replied 9 months ago
rating yes. so simply her ssdi will not be reduced in said situation...?

There COULD be an offset. This will be dependent on state law. Here's an overview of how that all works:

...

https://www.disabilitysecrets.com/resources/disability/how-workers-compensation-benefits-offset-socia

...

But telling them now will make sure that some huge bill doesn't come later for months and months of a small offset. What she gets will continue until such time as she is no longer disabled, (without any surprises).

Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,894
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified
Lane and 87 other Social Security Specialists are ready to help you
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Customer reply replied 9 months ago
thank you very much, rated
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Lane
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,894
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Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986

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