News and perspective on public policy issues affecting Washington's economy and quality of life, brought to you by the Economic Opportunity Institute.
The beauty of Social Security is its simplicity. Social Security is a self-financing system that workers and employers pay into, and upon retirement (or in the case of disability or death), workers and their families receive benefits commensurate with average wages. Pretty simple, and critical for millions of Americans. So when someone tries to distort the [...]
Since the 1980s, Social Security statements have been mailed annually to all workers 25 and older. So if you’re a worker – and over the age of 25 – maybe you’ve been wondering where your Social Security benefit statement is. Thanks to budget cuts, the Social Security Administration (SSA) stopped mailing out statements last year. But [...]
Part 1 | Part Two Social Security is one of the great achievements of American democracy. It represents the best of our values – honoring our parents, respecting hard work, and supporting families. It provides stable income to 56 million people in one in four American households – in both good economic times and bad. For the [...]
Part 1 | Part Two Working Americans and their employers each pay 6.2% on the first $110,100 of earnings into Social Security. Those payments insure 159 million workers and their families from loss of income due to disability, premature death, or retirement. They also fund benefits averaging $1,125 monthly for 56 million Americans, including:[i] Retirees age 62+. [...]
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