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Sunday, August 21, 2011

A look at Social Security's Disability Program

Some interesting statistics thanks to an article from the Washington Post's website, August 21, 2011 edition. 

By Associated Press, Updated: Sunday, August 21, 10:31 AM

WASHINGTON — A look at Social Security’s disability program:
About 13.6 million people receive federal disability benefits.
—7.6 million receive Social Security disability.
—4.4 million receive Supplemental Security Income.
—1.6 million receive both.

Social Security Disability:
—Reserved for people with a substantial work history.
—Average monthly payment: $927
—Financing: A portion of Social Security payroll taxes (the rest goes to the retirement fund).
—Payroll taxes collected for disability program in 2010: $93 billion.
—Total benefits paid in 2010: $124 billion.
—Assets in Social Security disability trust fund at end of 2010: $180 billion.
—Year when trust fund projected to be exhausted: 2017.

Supplemental Security Income:
—Reserved for the very poor.
—Average monthly payment: $500.
—Maximum monthly payment: $674 for individuals, $1,011 for couples.
—Many states provide additional payments.
—Financing: General revenue funds.
—Total benefits paid in 2010: $48 billion.

All rights reserved. For assistance with your Long Term Disability claim, ERISA Disability benefit claim, Social Security Disability claim in Florida, or Veterans Disability compensation or pension claim, call Disability Lawyer John Tucker at (866) 282-5260.

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