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Majority of Americans flunk Social Security quiz

(By – Mary Beth Franklin, www.investmentnews.com)

Seventy-one percent falsely believe that full retirement age is still 65

How much do Americans know about their Social Security benefits? Not much, it turns out. And that could have serious implications for their future retirement income.

Only 28% of more than 1,500 adults received a passing grade when asked basic questions about Social Security benefits in a true/false quiz developed by Massachusetts Mutual Life Insurance Company. And only one person who participated in the online survey conducted by KRC Research on behalf of MassMutual from Feb. 26 to March 2, answered all 10 questions correctly.  Read more…

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