A new bill introduced in Congress would allow people on
Supplementary Security Income (SSI) to save at least $5,000 and not be taken
out of the program. Currently,
individuals are dropped from the program if they save $2,000+. They wouldn’t lose benefits if this bill were
passed.
The legislation was introduced earlier this year. It would be more than double the current
numbers if passed. Under the new bill,
married couples could also save $7,500 and not lose SSI benefits.
“The asset limits and savings restrictions faced by many
disabled Americans present a difficult choice between work and the loss of
benefits. The SSI Savers Act would ease these restrictions and remove many of
the disincentives that keep disabled citizens from greater participation in our
economic life,” said Rep. Tom Petri, R-Wis., who introduced the bill along with
Rep. Niki Tsongas, D-Mass.
Activists behind the bill say allowing people with physical/mental
challenges to save more would be a stronger encouragement for them to look for
employment. It would also assist in a
smoother transition off of SSI benefits.
The current guidelines of the SSI program were started in 1989.
Higher benefits: http://www.disabilityscoop.com/2011/06/14/bill-ssi-save-more/13322/
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