What is Social Security?

Disability, Retirement, and More: Unpacking the Layers of Social Security

Social Security is a government-run program that provides financial benefits to retired, disabled, and dependent workers. It is funded by payroll taxes paid by employers and employees.

What are the different types of Social Security benefits?

  • Retirement benefits: These benefits are paid to retired workers who have worked at least 40 quarters (10 years) in Social Security-covered employment. You can start receiving benefits as early as age 62, but your benefits will be reduced if you retire before your full retirement age.
  • Disability benefits: These benefits are paid to workers who are disabled and unable to work for at least 12 months.
  • Survivors benefits: These benefits are paid to the spouses, children, and dependent parents of deceased workers.

What are some things to keep in mind about Social Security?

  • Social Security benefits are taxable income.
  • You may be able to receive Social Security benefits while you are still working, but your benefits may be reduced if you earn more than a certain amount.
  • If you are married, you may be eligible for spousal benefits based on your spouse’s earnings.
  • If you have a disability, you may be eligible for benefits even if you have not worked in Social Security-covered employment for 40 quarters.

For more information about Social Security, please visit the Social Security Administration’s website at https://www.ssa.gov/.

This article is for general informational purposes only and is not legal advice. Contact us today to discuss your specific situation.

Frequently Asked Questions About Social Security:

  1. When am I eligible for Social Security benefits
  2. How much will I get in Social Security benefits?
  3. How do I apply for Social Security benefits?
  4. Can I work and collect Social Security benefits?
  5. What is Social Security disability insurance?
  6. What is Social Security survivors insurance?
  7. How do I appeal a Social Security decision?
  8. Where can I find more information about Social Security?
  9. How can I find a Social Security lawyer?
  10. How do I file a complaint about a Social Security office?