2007 Social Security Consumer Math

Introduction ,[object Object],[object Object],[object Object]

WHAT IS SOCIAL SECURITY AND HOW DOES IT WORK? ,[object Object],[object Object]

Program Details ,[object Object],[object Object],[object Object]

How Does Social Security Work Over Time? ,[object Object],[object Object],[object Object],[object Object]

How Does Social Security Work Over Time? ,[object Object],[object Object],[object Object]

How Many People Get Social Security? ,[object Object],[object Object],[object Object],National Academy of Social Insurance, Social Security Finances: A Primer (2005)

Welfare System Who Gets Social Security? ,[object Object],[object Object],[object Object],[object Object],[object Object],National Academy of Social Insurance, Social Security Finances: A Primer (2005)

How Much Does Social Security Pay? www.ssa.gov/OACT/COLA/colaeffect.html Type of Beneficiary Average Monthly Benefit All Retired Workers $1,044 Aged widow(er), non-disabled $1,008 Disabled worker $979 Aged couple-both receiving $1,713 Widowed mother and two children $2,167

Social Security and Poverty ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Financing Social Security ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Worker Benefits ,[object Object],[object Object],[object Object],[object Object],[object Object]

Average Indexed Monthly Earnings (AIME) ,[object Object]

How do benefits compare to earnings? Retired worker age 65, 2005

How many people rely on Social Security for most of their income? ,[object Object],[object Object],[object Object],National Academy of Social Insurance, Social Security Finances: A Primer (2005)

Family Benefits ,[object Object],[object Object],[object Object]

How do actuaries estimate the future? ,[object Object],[object Object],National Academy of Social Insurance, Social Security Finances: A Primer (2005)

What is that non-taxable income? ,[object Object],[object Object],National Academy of Social Insurance, Social Security Finances: A Primer (2005)

2007 Social Security Consumer Math

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