United States Social Security system

E9559

federal government program social insurance program

The United States Social Security system is a federal program that provides retirement, disability, and survivors’ benefits funded primarily through payroll taxes to offer income security for eligible workers and their families.

Aliases (7)

Social Security ×4
Old-Age and Survivors Insurance ×3
Old-Age, Survivors, and Disability Insurance ×2
Social Security program ×2
Old-Age and Survivors Insurance program ×1
Social Security retirement insurance ×1
United States social insurance system ×1

Statements (51)

Predicate	Object
instanceOf	federal government program → social insurance program →
administeredBy	Social Security Administration → U.S. federal government →
benefitFormulaBasis	age at claiming → earnings history → number of covered work credits →
benefitIndexation	cost-of-living adjustments →
COLABasis	Consumer Price Index →
componentProgram	Disability Insurance → Old-Age and Survivors Insurance →
contributionType	mandatory for covered employment →
country	United States →
coverageScope	many self-employed workers in the United States → most wage and salary workers in the United States →
disabilityDefinition	inability to engage in substantial gainful activity →
enactedInYear	1935 →
excludesProgram	Supplemental Security Income →
financingMechanism	pay-as-you-go →
fullRetirementAgeRange	65 to 67 →
geographicCoverage	District of Columbia → all U.S. states → certain U.S. territories →
hasIdentificationNumber	Social Security number →
hasTrustFund	Disability Insurance Trust Fund → Old-Age and Survivors Insurance Trust Fund →
legalBasis	Social Security Act of 1935 →
managingAgencyHeadTitle	Commissioner of Social Security →
policyGoal	provide basic income floor → reduce poverty among the elderly →
primaryFundingSource	payroll taxes →
providesBenefitType	dependent benefits → disability benefits → lump-sum death benefit → retirement benefits → spousal benefits → survivors benefits →
purpose	income security for survivors → income security in case of disability → income security in old age →
relatedProgram	Medicare → Supplemental Security Income →
signedIntoLawBy	Franklin D. Roosevelt →
targetPopulation	disabled workers → eligible workers → retirees → surviving family members →
taxName	Federal Insurance Contributions Act tax → Self-Employment Contributions Act tax →
taxType	regressive payroll tax with wage cap →
typicalEligibilityAge	62 →

Referenced by (16)

Subject (surface form when different)	Predicate
Old-Age Reserve Account → SSA ("United States social insurance system") → Social Security Disability Insurance →	partOf
SSA ("Social Security retirement insurance") →	administers
Social Security Act amendments ("Old-Age and Survivors Insurance") →	affects
Social Security Amendments of 1972 ("Old-Age, Survivors, and Disability Insurance") →	affectsProgram
2000 United States presidential election ("Social Security") →	campaignIssue
United States Social Security system ("Old-Age and Survivors Insurance") →	componentProgram
Social Security Amendments of 1939 ("Old-Age and Survivors Insurance program") →	creates
Federal Insurance Contributions Act taxes ("Old-Age, Survivors, and Disability Insurance") →	funds
Social Security Amendments of 1950 ("Social Security") →	legalSubject
Medicare ("Social Security") →	linkedTo
Eisenhower administration ("Social Security program") →	maintained
Social Security Amendments of 1972 ("Social Security") →	relatedProgram
Old-Age Reserve Account ("Old-Age and Survivors Insurance") →	relatedTo
SSA ("Social Security program") →	responsibleFor