SSI question

[Liahona]

It is my understanding that we can only have $2000 in an account. husband insists on putting money in a 401k that his employer will match his contribution. When this gets up past 2000 will this be a problem for us? I asked the ssi office and she said to not worry about it, but I don't trust them.

 

[AnnieO]

What are you getting the SSI for? This can make a difference.

 

[DDD]

I am NOT an expert but I do know that SSI reduced the monthly income check for easy child/difficult child for this coming month because he was receiving a "back pay" check which would take him over the allowed amount. The woman I spoke to seemed to be very experienced and quite bright....I could not grasp all the explanations that she gave me. Sigh! Finally I ended up just reiterating the simpliest facts. "So..the April check will be reduced to XXX because somehow with the backpay you all gave him more money than he is allowed so you're taking it back in April?" She said "that's right".

I would not anticipate that it is possible to stash funds into a money making or interest generating account. Maybe someone in our family "knows" for sure. Good luck. DDD

 

[confuzzled]

i think you should call back and speak to someone different...of course its a resource.

http://www.socialsecurity.gov/ssi/text-resources-ussi.htm

 

[Liahona]

The SSI is for difficult child 1's disability.

 

[InsaneCdn]

I'm not US but... this is difficult child 1's step-dad's 401k?
The nature of the relationship may be part of the picture.

 

[DDD]

I don't know if this helps or hurts...really with over fifty years as an experienced business woman and Mother, I don't "get SSI". Today I received yet another letter indicating yet another change. Sigh!

This is quoted: Contact your local Social Security office to report any of the following changes:
* You move
* Your bank account balance goes over $2000.00
* Anyone moves into or out of your household

There are alot of other things listed but considering your circumstances the above three seem relevant. DDD

 

[DammitJanet]

Lia.....Im thinking that 401 wont hurt because Im assuming this is step dad right? They dont count his income do they? Even if they do, he must make a low enough income considering all your kids that difficult child 1 gets ssi even if not the full amount. I had SSI for Cory when I worked for DSS and I had a 401K worth quite a bit. Never was a problem.