Useful Facts About Social Security

10 Social Security facts to know shares ten basic facts to know about Social Security. Here they are:

1. Workers contribute 6.2% of earned income and employers contibute 6.2%.  
2. Benefits are based on 35 highest earning years.
3. Full retirement age depends on the year of birth.
4. Delaying benefits increases the benefit amount.
5. Married couples have options to increase total benefits received.
6. Payments are adjusted for inflation.
7. Insurance (death and disability) are provided prior to retirement age.
8. Benefits are paid electronically.
9. Contribution history can be viewed online.
10. The Social Security trust fund is projected to run out of money in 2033.

For more details, check out the article.

For more on Reaping the Rewards, check back every Friday for a new segment.

This is not financial or retirement advice. Please consult a professional advisor.

Copyright © 2013 Achievement Catalyst, LLC