Ssi Retirement Benefits Calculator

SSI Eligibility & Benefit Estimator (Aged)

Use this calculator to estimate your potential Supplemental Security Income (SSI) benefit if you are aged 65 or older. SSI is a needs-based program for low-income individuals who are aged, blind, or disabled, and is not based on your work history.

Single Married

(e.g., bank accounts, investments – generally excludes primary home, one vehicle)

Understanding Supplemental Security Income (SSI)

Supplemental Security Income (SSI) is a federal program administered by the Social Security Administration (SSA) that provides monthly payments to adults and children with a disability or blindness who have income and resources below specific financial limits. It also provides payments to people aged 65 and older without disabilities who meet the financial limits.

Key Differences from Social Security Retirement Benefits:

• SSI: Needs-based, funded by general tax revenues, requires low income and limited resources. Eligibility for aged individuals is primarily based on being 65 or older and meeting financial criteria.
• Social Security Retirement Benefits: Earned benefit, funded by payroll taxes, based on your work history and contributions to Social Security.

How SSI Eligibility and Benefits Are Determined:

The calculation for SSI involves several factors:

1. Age, Blindness, or Disability: You must meet one of these criteria. This calculator focuses on the "aged" (65 or older) criterion.
2. Income Limits: Your countable income must be below the Federal Benefit Rate (FBR). Not all income counts; certain exclusions apply.
3. Resource Limits: Your countable resources (assets) must not exceed $2,000 for an individual or $3,000 for a couple (2024 limits).
4. Living Arrangement: Your living situation can affect your benefit amount, though this calculator uses a simplified approach assuming a standard living arrangement.

Income Exclusions (Simplified for this Calculator – 2024 Rules):

• General Income Exclusion: The first $20 of most unearned income (e.g., pensions, interest) is not counted.
• Earned Income Exclusion: The first $65 of earned income (e.g., wages from a job) plus half of the remaining earned income is not counted.

The Federal Benefit Rate (FBR) for 2024 is $943 per month for an individual and $1,415 per month for an eligible couple.

Examples:

Here are a few examples to illustrate how SSI benefits might be calculated:

1. Eligible Individual:
   • Age: 68
   • Marital Status: Single
   • Monthly Earned Income: $100
   • Monthly Unearned Income: $50
   • Countable Resources: $1,500
   • Calculation:
     • Countable Unearned Income: $50 – $20 (general exclusion) = $30
     • Countable Earned Income: ($100 – $65) / 2 = $35 / 2 = $17.50
     • Total Countable Income: $30 + $17.50 = $47.50
     • Estimated SSI Benefit: $943 (FBR) – $47.50 = $895.50 per month
2. Ineligible Due to Income:
   • Age: 70
   • Marital Status: Single
   • Monthly Earned Income: $800
   • Monthly Unearned Income: $200
   • Countable Resources: $1,000
   • Calculation:
     • Countable Unearned Income: $200 – $20 = $180
     • Countable Earned Income: ($800 – $65) / 2 = $735 / 2 = $367.50
     • Total Countable Income: $180 + $367.50 = $547.50
     • Estimated SSI Benefit: $943 (FBR) – $547.50 = $395.50
     • (Note: If the total countable income exceeds the FBR, the benefit would be $0, but in this case, it's still positive, so the individual would be eligible for a reduced benefit.)
3. Ineligible Due to Resources:
   • Age: 66
   • Marital Status: Married
   • Monthly Earned Income: $0
   • Monthly Unearned Income: $0
   • Countable Resources: $4,000
   • Result: Ineligible because countable resources ($4,000) exceed the married limit of $3,000.

This calculator provides an estimate based on current (2024) FBR and general rules. Your actual eligibility and benefit amount may vary based on specific state supplements, living arrangements, and other factors. Always consult with the Social Security Administration for a precise determination.

Ineligible:

Ineligible:

Ineligible:

Estimated SSI Benefit:

NOT ELIGIBLE

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POTENTIALLY ELIGIBLE

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Income Breakdown:

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• Monthly Earned Income: $' + monthlyEarnedIncome.toFixed(2) + '
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• Monthly Unearned Income: $' + monthlyUnearnedIncome.toFixed(2) + '
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• General Income Exclusion: $' + generalIncomeExclusion.toFixed(2) + '
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• Earned Income Exclusion: $' + earnedIncomeExclusion.toFixed(2) + '
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• Countable Unearned Income: $' + countableUnearnedIncome.toFixed(2) + '
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• Countable Earned Income: $' + countableEarnedIncome.toFixed(2) + '
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• Total Countable Income: $' + totalCountableIncome.toFixed(2) + '
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Eligibility Criteria Summary:

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• Your Age: ' + currentAge + ' (Must be 65+ for aged SSI)
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• Marital Status: ' + maritalStatus.charAt(0).toUpperCase() + maritalStatus.slice(1) + '
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• Countable Resources: $' + countableResources.toFixed(2) + ' (Limit: $' + applicableResourceLimit.toFixed(2) + ' for ' + maritalStatus + ')
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• Federal Benefit Rate (FBR) for ' + maritalStatus + ': $' + applicableFBR.toFixed(2) + '
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This is an estimate based on 2024 Federal Benefit Rates and general rules. Your actual eligibility and benefit amount may vary. Always consult the Social Security Administration for a precise determination.