A few brief facts about Social Security
The following tidbits of information were derived from an article written by Madonna Meyer and Pamela Herd of the Russell
Sage Foundation.
1. Social Security Retirement actually makes up about forty percent of the income for older persons in the U.S.
2. The poverty rate among the elderly currently stands at 10 percent. However, in 1959, it was as high as thirty-five percent.
3. Social Security retirement funds are derived entirely from FICA tax.
4. The cost of administering the social security retirement program is less than one percent of FICA tax collected.
5. Women, on average, will collect social security retirement benefits five years longer than men.
6. The social security retirement program may be viable until the year 2041; however, this is something that is highly debated and the system may be prone to shortfalls as soon as 2017.
Additional Entries
What to do when Social Security Retirement isn't enough
Disability and Poverty
Blog Archives
Social Security Disability Answers
Why does social security send you to a medical examination?
SSI cases - who usually wins
Disability Decision - What happens if you win or lose?
1. Social Security Retirement actually makes up about forty percent of the income for older persons in the U.S.
2. The poverty rate among the elderly currently stands at 10 percent. However, in 1959, it was as high as thirty-five percent.
3. Social Security retirement funds are derived entirely from FICA tax.
4. The cost of administering the social security retirement program is less than one percent of FICA tax collected.
5. Women, on average, will collect social security retirement benefits five years longer than men.
6. The social security retirement program may be viable until the year 2041; however, this is something that is highly debated and the system may be prone to shortfalls as soon as 2017.
Additional Entries
What to do when Social Security Retirement isn't enough
Disability and Poverty
Blog Archives
Social Security Disability Answers
Why does social security send you to a medical examination?
SSI cases - who usually wins
Disability Decision - What happens if you win or lose?
