What is the difference between Social Security Disability, Social Security Income and Social Security Retirement?
. Social Security Disability Insurance Benefits (DIB) are like insurance. While you are employed, you are putting money into a trust fund by FICA taxes deducted from your paycheck. When you become disabled, the amount of your benefit will usually be computed using the highest level of contribution for 5 of the last 10 years. Supplemental Security Income (SSI) is not dependent upon having paid in from wages, and is reduced by the amount of income and assets an individual may have including income in the household. Retirement is a program you receive when you are old enough to stop working-ages vary.
A. Social Security Disability Insurance Benefits (DIB) are like insurance. While you are employed, you are putting money into a trust fund by FICA taxes deducted from your paycheck. When you become disabled, the amount of your benefit will usually be computed using the highest level of contribution for 5 of the last 10 years. Supplemental Security Income (SSI) is not dependent upon having paid in from wages, and is reduced by the amount of income and assets an individual may have including income in the household. Retirement is a program you receive when you are old enough to stop working-ages vary.
