How Are My Monthly SSD Benefits Calculated?
Social Security Disability (SSD) benefits are calculated based upon prior earnings and how much you have paid into the SSD program through taxes.
The Social Security Administration (SSA) will calculate your Average Indexed Monthly Earnings (AIME) and then apply a formula to your AIME to come up with your Primary Insurance Amount (PIA). This is the base figure that SSA will use to set your monthly benefit amount.
Deductions may be taken from your PIA if you are receiving disability payments from other sources, such as workers’ compensation. Notably, disability benefits from the Veterans Administration do not affect SSD payments. Further, unlike Supplemental Security Income (SSI), your SSD benefits will not be reduced based upon resources, such as property you own or money you have in a bank account.
The maximum disability payment that someone can receive in 2018 is $2,788 per month.
You can use SSA’s website to see exactly how much your monthly benefits would be if you became disabled today by creating an account.
If you have questions about SSD, SSI, and the benefits to which you may be entitled, contact Herdman Yeager, LLC for a free consultation.
Disclaimer: This blog provides general information on legal issues and is not a substitute for legal advice. Each individual claim is unique. To seek legal guidance, you should contact an attorney.