Social Security
Federal pension system
Social Security is the U.S. federal program providing retirement benefits, disability insurance, and survivor benefits, funded through payroll taxes.
Americans become eligible for retirement benefits at age 62, with full benefits available later.
She started collecting Social Security at 67.
A Social Security number is the nine-digit identifier assigned to U.S. citizens and residents. (Lowercase social security refers to such programs generally.)
Retiree's ongoing benefit
- benefitsGains or helpful effects
- MedicareFederal senior health program
- early retirementExiting career before standard age
- spousal benefitsRights through marriage
survivor benefits · old age · retiree · senior · golden years · fixed income
Withholding from worker wages
- FICAFederal wage withholding law
- trust fundAssets held for another
- solvencyCapacity to pay debts
- SSAFederal retirement benefits agency
Payments for those unable to work
- impairmentDiminished function or capacity
- claimStatement of ownership or truth
- eligibilityState of meeting criteria
- appealFormal review request
pension
Retiree's ongoing benefit
- benefitsGains or helpful effects
- MedicareFederal senior health program
- early retirementExiting career before standard age
spousal benefits · survivor benefits · old age · retiree · senior · golden years · fixed income
payroll tax
Withholding from worker wages
- FICAFederal wage withholding law
- trust fundAssets held for another
- solvencyCapacity to pay debts
disability benefits
Payments for those unable to work
- impairmentDiminished function or capacity
- claimStatement of ownership or truth
- eligibilityState of meeting criteria
SSN
Federal identification number
- federal servicesMedicare, IRS, USPS, postal service, FBI
- Depression EraGreat Depression, Hooverville, breadline, dust storms, soup kitchen
- Federal ProgramsMedicare, Medicaid, food stamps, SNAP, Pell Grant
- government benefitsfood stamps, unemployment insurance, disability benefits, public assistance, veterans benefits
- Government Programswelfare program, Great Society, healthcare reform, Medicare, Medicaid
- paycheck deductionsincome tax, federal tax, state tax, withholding, health premium
Social Securitypersonal savings
Individually accumulated wealth
401(k) · private pension · individual responsibility · private investment · self-reliance
Social Securityrugged individualism
Philosophy of personal independence
privatization · self-reliance · bootstrapping · laissez-faire economics · sink or swim
Social Securitydestitution
Extreme poverty, lacking necessities
poverty · indigence · financial ruin · precarity · financial instability
association, sociable, secured, insecurity, securing, antisocial, socialize, securely, socially