Children's SSI and Retirement

[Maine04401]

What is the name of your state (only U.S. law)? Maine
I have two children who are disabled and receive SSI. Right now, I don't have a retirement plan because my company doesn't offer one. If I were to find a suitable retirement plan option, would the amount of money I put in the retirement account affect my children's benefits? Here's the best way I can ask my real question: you know how the more income you make, the less money your children get in SSI? If I was putting a certain amount into a retirement fund for myself, would that money (untaxed at this point, if I understand it) count as income? For example, if I put $200 in a retirement account, would my children receive more in SSI because that $200 wasn't counted as income? This might be a silly question, but I figured I might as well ask.

 

[Kit Cat]

What is the name of your state (only U.S. law)? Maine
I have two children who are disabled and receive SSI. Right now, I don't have a retirement plan because my company doesn't offer one. If I were to find a suitable retirement plan option, would the amount of money I put in the retirement account affect my children's benefits? Here's the best way I can ask my real question: you know how the more income you make, the less money your children get in SSI? If I was putting a certain amount into a retirement fund for myself, would that money (untaxed at this point, if I understand it) count as income? For example, if I put $200 in a retirement account, would my children receive more in SSI because that $200 wasn't counted as income? This might be a silly question, but I figured I might as well ask.

I do not think they will count it as income, but they will count it is as an asset.

the formula is complex, I don't know it off the top of my head. Just be careful about saving too much money, past a certain point, your kids can get cut off.