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A Quick Primer on Social Security - Britannica Money
If you’re just beginning to consider the U.S. Social Security program, it’s wise to start with a basic account of the foundational elements of this 90-year-old senior benefit program. Freelance writer Miranda Marquit, in a post on Britannica Money’s website, provides just such a review of the basic elements of this program. Ms. Marquit begins with a discussion of Social Security’s origins, and follows that with a brief recap of the program’s funding stream.
From there, she moves into a discussion of the two trust funds that hold the revenue for eventual payout to beneficiaries, followed by a quick summary of the process through which claimant benefits are calculated. Her article touches on Social Security disability benefits, as well as several of the program’s key benefit provisions (e.g., survivor benefits and the lump-sum death benefit (although note that the actual benefit amount is $255).
Overall, a good, basic read for those just beginning to investigate Social Security. Of course, this basic knowledge will likely lead to more detailed questions; know that the AMAC Foundation’s Social Security Advisory Service is available to help you with them. Click here to learn more about this free-to-the-public service and how to access it.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.