Term of the Day: Social Security

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	INVESTOPEDIA Term Of The Day July 5, 2015 Social Security A United States federal program of social insurance and benefits developed in 1935. The Social Security program's benefits include retirement income, disability income, Medicare and Medicaid, and death and survivorship benefits. Social Security is one of the largest government programs in the world, paying out hundreds of billions of dollars per year. Based on the year someone was born, retirement benefits may begin as early as age 62 and as late as age 67. The amount of income received is based on the average wages earned over the worker's lifetime, with a maximum calculable amount of $102,000 as of 2008. Spouses are also eligible to receive Social Security benefits, even if they have limited or non-existent work histories. Investopedia Explains: The original program was part of President Franklin D. Roosevelt's New Deal plan to lift the U.S. out of... Read More Related to "Social Security" 4 Unusual Ways To Boost Social Security Benefits For many retirees, Social Security retirement benefits are their only source of fixed income once they stop working. As retirement approaches... Read More Create Your Own Social Security Fund Are you not sure how much money to put aside for retirement? Start a personal Social Security fund. Social Security was originally designed to get... Read More Avoid The Social Security Tax Trap In the good old days Social Security was tax free. But times have changed, and now many taxpayers can expect to see at least a portion of... Read More Recently Added Definitions Roll Rate The percentage of credit card users who become increasingly delinquent on their accounts. Roll rate refers to the percentage of card users... Read More Furnisher A company that provides information about a consumer, including credit history, to a credit bureau. Furnishers are typically organizations that... Read More Related Definitions Social Security Number - SSN Social Security Administration - SSA Disability-Income (DI) Insurance Pension Plan Federal Unemployment Tax Act - FUTA Past Terms of the Day American Dream Multicurrency Note Facility National Currency Treasury Yield Grexit You are currently subscribed as: mondemand.forex@blogger.com Unsubscribe | Unsubscribe From All | Manage Profile Investopedia US, A Division of IAC. Copyright © 2015, Investopedia, LLC. All Rights Reserved Follow Us: