I am receiving Social Security Disability. If I take a lump sum settlement from Workers Compensation, how will my Social Security benefit be affected?
A. Depending on how the Workers’ Compensation Board structures your lump sum settlement, the Social Security Administration may prorate the amount of your settlement over a specified length of time. Your SSD benefit would then be adjusted as if you were still receiving weekly Workers’ Compensation benefits until the specified length of time expires. If you are in the process of structuring a Workers’ Compensation lump-sum settlement and you are also applying for SSD, consult your attorney about your situation before deciding on the terms of your Workers’ Compensation settlement.
Related Questions
- I am currently receiving workers compensation benefits. Can I file a claim for Social Security disability benefits now or should I wait until after I settle my case?
- I am receiving Social Security Disability. If I take a lump sum settlement from Workers Compensation, how will my Social Security benefit be affected?
- I am a disability retiree. Can I also receive disability benefits from the Social Security Administration or workers compensation?
