Social Security
What is it? The U.S. federal governments retirement safety net. If you are employed, you probably contribute to the Social Security system through payroll taxes. Normally, your first chance to get a Social Security retirement check is at age 62. Starting this early, however, will reduce your benefits by 20% to 30% for the rest of your life. The current age for full retirement benefits -- as well as Medicare health care insurance -- is 65. The retirement age is gradually going up, however, for people born in 1938 and later. Anyone born after 1959 will have to work another two years until age 67.Added By: Arianna
The Social Security definition has been viewed 301 Time(s)!
Send To Friends!
If you'd like to send the Social Security definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Social Security. If you need any more information on this term, please don't hesitate to contact us.