12 Facts About Social Security You Didn't Know
Social Security is the major source of income for many elderly Americans, as well as for millions of dependents, disabled workers, and survivors. Despite the enormity of the program, there is a lot about Social Security that isn't well understood by many Americans, especially by those who aren't yet collecting benefits. With that in mind, here are 12 facts about the Social Security program that all American workers and retirees should be aware of.
When many Americans think of Social Security, they only think of the retirement benefits that are paid to most senior citizens. However, there's a lot more to Social Security, and retirement benefits account for less than three-fourths of benefits paid. In addition to retirement benefits, Social Security also pays disability benefits, benefits to dependents of retired or disabled workers, and benefits to survivors of deceased workers.
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Source: Fool.com