The Social Security Administration will adjust the different amounts of its benefit programs starting in 2024. Among these adjustments is the income limit to obtain disability benefits. What will these limits be?
In principle, the SSA establishes that to access Social Security Disability Income (SSDI), a person must be unable to engage in substantial gainful activity (SGA).
If the potential beneficiary exceeds that income limit, the SSA considers them involved in SGA. However, the monthly income amounts considered as SGA vary depending on the person’s type of disability.
Income limits to receive SSDI
Non-blind beneficiaries may earn up to $1,550 monthly to be eligible for the benefit. In turn, statutorily blind people must earn less than $2,590 monthly to be eligible.
Sometimes, after a person becomes eligible for SSDI, they also seek to return to work. In these cases, the SSA contemplates a trial period in which you can enroll in SGA and still receive the benefit.
The maximum income amounts allowed in these cases are the same as the amounts contemplated for the rest of the beneficiaries.
Earnings subject to the Social Security tax
Likewise, the maximum earnings subject to Social Security tax will increase to $168,600.
The income limit for workers under the “full” retirement age will increase to $22,320 annually, with income above the limit having $1 deducted from benefits for every $2 earned above $22,320.
The income limit for people reaching their “full” retirement age in 2024 will increase to $59,520 annually. Similarly, $1 will be deducted from benefits for every $3 earned over $59,520 until the month in which the worker reaches “full” retirement age.
There is no income limit for workers of “full” retirement age or older throughout the year.
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