-A government pays money regularly to provide these
facilities to others people.
-People who are sick.
-People who are sick.
-Who are unemployed.
-Or those who have no other income.
What are the 3 major parts of the Social Security Act?
-Or those who have no other income.
-Public Assistance.
-Unemployment Compensation.
-Old-Age Insurance.
What are main purposes of Social Security?
-Unemployment Compensation.
-Old-Age Insurance.
a) function as a social safety device.
b) Redistribution of income.
b) Redistribution of income.
c) Diversification of risks.
d) Social stability and economic stability and growth on income rules.
What are the two types of Social Security system?
d) Social stability and economic stability and growth on income rules.
-Compulsory
- And Voluntary.
What are social security benefits?
- And Voluntary.
-To provide partial replacement income for retired
adults.
-Help to disabilities people as well as for their spouses, children, and survivors.
-Social Security program works for 40 credits in order to qualify for benefits.
What is the maximum Social Security benefit?
-Help to disabilities people as well as for their spouses, children, and survivors.
-Social Security program works for 40 credits in order to qualify for benefits.
-Good benefits requires with 10 years of work/40 work
credits.
-Monthly benefit is $3,822 for full retirement age in
2024.
-Increase the benefits until age 70 of benefit is $4,873.
How is social security calculated?
-Increase the benefits until age 70 of benefit is $4,873.
-As a calculated "average indexed monthly
earnings."
-This average summarizes up to 35 years with working indexed earnings.
How much is Social Security in the US?
-This average summarizes up to 35 years with working indexed earnings.
-Average benefit for September 2023 was $1,706.
What is Social Security money in USA?
-To provides a source of income.
-Also if you cannot work due to a disability.
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-Also if you cannot work due to a disability.
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