Social Security Basics

The Social Security Act is the law that created the Social Security program in 1935.

Social Security benefits are available to people who have worked and paid Social Security taxes, people who are disabled, and people who are retired.

The full retirement age for Social Security benefits is 67 for people born in 1960 or later.

You can start receiving Social Security benefits as early as age 62, but your benefits will be reduced if you do so.

The maximum amount of Social Security benefits that you can receive is $4,000 per month.

Social Security benefits are calculated based on your earnings history, your age, and your marital status.

The Social Security tax rate is 12.4%.

Both employees and employers pay Social Security taxes.

The Social Security Trust Fund is a fund that holds the money that is collected from Social Security taxes and pays Social Security benefits.

The projected date of Social Security insolvency is 2033.

Some of the proposed solutions to the Social Security insolvency problem include raising the Social Security tax rate, increasing the full retirement age, and reducing Social Security benefits.

The Social Security Disability Insurance (SSDI) program is a program that provides benefits to people who are disabled.

SSDI benefits are available to people who have worked and paid Social Security taxes, people who are disabled, and people who are retired.

The maximum amount of SSDI benefits that you can receive is $3,000 per month.

SSDI benefits are calculated based on your earnings history, your age, and your disability.