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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
March 15, 2021
Category:
Do I Have To Report It To SSDI & SSI If I Get A Settlement?
If I get a settlement from a class action suit from a company I never worked for, do I have to report it to ssdi and ssi?
Hi. Yes, if you're getting Supplemental Security Income (SSI) then you should definitely report to Social Security if you receive a settlement payment. A settlement like you describe wouldn't affect your Social Security disability (SSDI) benefits, but it might affect your SSI eligibility or your payment amount. SSI is a needs based benefit, so just about any new income or assets you receive can potentially affect your SSI benefits.
Best, Jerry