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Social Security Benefits

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Social Security benefits
Monthly government payments to retired workers or their families who have paid Social Security taxes for a total of 40 quarters or 10 years.

Social Security Benefits
In the United States, a social program providing, among other things, disability insurance, the national pension, unemployment insurance, Temporary Assistance for Needy Families, and Supplemental Security Income. In common parlance, however, Social Security benefits refer to the monthly check received by pensioners starting generally after retirement. All U.S. citizens who have paid the Social Security tax for a certain number of years are eligible for Social Security benefits at age 65 (or 62 for reduced benefits). Widows (or widowers) are also eligible for benefits even if they were never employed, so long as their deceased spouses paid into the system.


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The 2009 Social Security Trustees Report forecasts that Social Security benefits paid to retirees will exceed Social Security taxes paid in by workers (and earnings on the funds in the trust) beginning in 2016.
Hispanics receive better returns on the taxes they contribute to the Social Security system in greater numbers than other workers, and elderly Hispanics rely on Social Security benefits for a greater share of their income than the rest of the population (by ethnicity).
The volume contains Social Security benefit tables and tax tables and provides information on the Social Security system, hospital insurance taxes, federal income taxability of benefits, general and self-employed coverage, and Social Security benefits.
 
 
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