i am 69 myears old.i receive social secuity. iI also coleect worker comp disabailty.If i take alum sum settlement with workers comp.Will that money effect ss benfits
Hi. No. Since you are over full retirement age (FRA), Workers Compensation (WC) benefits wouldn't affect your Social Security benefits regardless of whether the WC is paid periodically or in a lump sum.
However, receiving a lump sum WC payment could potentially affect how much, if any, of your Social Security benefits are subject to income taxes (https://www.ssa.gov/benefits/retirement/planner/taxes.html).
Best, Jerry
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Posted:
May 6 2022 - 12:49pm