Calculating Your Disability Benefits Payment: Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI) provide individuals with physical or mental disabilities who are unable to work with an essential financial lifeline.
Your mean earnings before the onset of your disability will determine your eligibility for Social Security Disability Insurance (SSDI) benefits.
High-taxed workers earn larger insurance payments. Your household income and disability severity do not affect your benefits under this scheme.
Individuals must earn less than $1,350 per month to qualify for SSDI. Candidates must be full-time unemployed, have been jobless for 12 months, and have worked for five of the past 10 years.
The Primary Insurance Amount (PIA) and Average Indexed Monthly Earnings (AIME) determine your SSDI benefit each month.
SSDI Recipients Await First COLA Increase in January 2024
How does one determine the SSDI benefit?
Your AIME is computed with a maximum of 35 years of work experience. The Social Security Administration (SSA) then divides the total number of months in that particular year by the sum of the years with the highest indexed earnings. Following this, the mean value is decremented by one to obtain the AIME.
This constitutes the PIA or the minimum benefit. It’s calculated by averaging three annual percentage changes of three fixed AIME and bend points components adjusted to the national average pay index. You get 90% of earnings before the first bend point, 32% after the second, and 15% after the third.
The maximum monthly SSDI benefit disbursed in 2020 was $1,258; the highest-earning category of individuals received $3,011. To determine your benefit amount, please visit the Social Security website and utilize the calculator to determine your anticipated payment.
When applying for Social Security disability benefits, consult a Social Security and disability-specialized attorney to maximize your eligibility.
