Social Security supports retirees, the disabled, and survivors

The Social Security Administration (SSA) accounted for 22.4% of all federal spending in 2024

The SSA is an independent executive branch agency that is primarily responsible for administering Social Security benefits. In fiscal year 2024, The SSA, ranking second among federal agencies in terms of total spending, behind only the Department of Health and Human Services.

Social Security’s financial operations are handled through two federal trust funds

One is called the Old-Age and Survivors Insurance trust fund, and the other is called the Disability Insurance trust fund. Combined, these two trust funds were valued at roughly $2.7T as of the end of 2024.

Social Security’s financial operations are handled through two federal trust funds

One is called the Old-Age and Survivors Insurance trust fund, and the other is called the Disability Insurance trust fund. Combined, these two trust funds were valued at roughly $2.7T as of the end of 2024.

Before Social Security, elderly Americans relied on family support, limited state pensions, or company-sponsored pensions

Before Social Security benefits were available to American retirees, they had to find other ways to get by. Pensions were only available to roughly 15% of workers, and most elderly Americans went without meaningful economic security.

The Depression-era Social Security program assigned every US citizen an account number

Many of the Social Security functions we know today are the result of multiple amendments to the Social Security Act that have been passed in the years since the act’s initial creation in 1935. As Social Security as we know it today was being conceptualized, Democrats opted to make it an insurance program rather than a welfare one to assuage Republicans.

The Social Security Act was formed to protect retired workers amid the Great Depression

President Franklin Delano Roosevelt’s New Deal created new government agencies and programs in the wake of the Great Depression, including the Social Security Act.

Social Security is one of the most popular government programs

In a recent Pew Research Center survey of US adults, 79% said Social Security benefits shouldn’t be reduced in any way. This view is broadly shared across ages, races, political affiliations, and income brackets.

The Social Security System was created to protect Americans from economic disasters like the Great Depression

President Franklin Delano Roosevelt’s New Deal created new government agencies and programs in the wake of the Great Depression.

Roughly 70.5 million Americans were enrolled in Social Security benefits as of December 2025.

See a poster that was created to help publicize the Social Security Act.

Consumers reported losing more than $126M to Social Security scams in 2023

This article includes tips on how to spot a Social Security scam, including information about what the real Social Security Administration will and will not do. For instance, the Social Security Administration will never threaten someone with benefits suspension or bank account seizure if they do not comply with a request.

The maximum Social Security benefit is $5,181 per month as of 2026

A worker who has earned at or above the Social Security taxable maximum for at least 35 years and delays claiming until 70 can receive up to $5,181 in monthly benefits. Delaying claiming Social Security until 70 (rather than 62, the earliest age one can receive benefits) results in a higher monthly benefit.

Social Security's model assumes more people are paying than receiving, but that's no longer true

As more Baby Boomers start collecting Social Security for more years than the system anticipated—and, simultaneously, birth rates trend down—the Social Security system is feeling the squeeze. When fewer workers pay into Social Security, there's less money overall for retirees to collect. Learn more about what's next for Social Security in this video.

Workers need 40 ‘credits’ to qualify for Social Security retirement benefits

Forty credits are equal to about 10 years of full-time work. If someone has never worked, they won’t be eligible for benefits on their own, but they could qualify via a spouse, ex-spouse, or dependent.

Social Security trust funds are expected to be unable to pay full benefits by 2035

Most US workers have 6.2% of their gross paycheck taken out for Social Security. The government requires employers to match that 6.2% as well, for a total of 12.4%. This video dives into the specifics of how Social Security functions from a financial perspective.

Some politicians have argued that Social Security should be privatized

Specifically, some assert that diverting funds into self-directed retirement accounts should replace Social Security taxes and benefits to some extent in a privatized retirement savings system. This article details the pros and cons of privatizing Social Security.

The 2025 Social Security Trustees Reports reaffirmed that beneficiaries will be paid 100% of total scheduled benefits until 2033

Specifically, it noted that the Old-Age and Survivors Insurance Trust Fund will be able to pay 100 percent of total scheduled benefits until 2033, which was unchanged from the previous year’s report.

The 1935 Social Security Act drew inspiration from European social insurance models

Many of these, such as German Chancellor Otto von Bismarck's 1889 retirement system, emerged decades before America adopted them. This article dives into the modern history of economic security and the key legislation that created Social Security.

Calculate your Social Security full retirement age

The year you were born determines when you become eligible for your Social Security full retirement age benefit. Spoiler alert, that age is no longer always 65. If you want to use this calculator to determine your full retirement age—and learn more about the drawbacks of claiming Social Security early—click here.

Social Security funding is mandated by law, not budgeted each year by Congress

Unless Congress acts before the Social Security trust fund becomes depleted in 2034, its current revenues would cover 81% of Social Security benefits. However, that share would decline to 72% by 2099.

Roughly 22% of US tax dollars go to Social Security

Social security is the US government’s largest expense. You can see other government expenses in a visual breakdown of what one US tax dollar actually pays for. Total spending amounts were converted to cents on the dollar and percentages.

Estimate your Social Security benefits

To calculate your Social Security benefit, the government uses information such as your birthday, current earnings, future retirement date, and more. Calculate an estimation for your future Social Security monthly benefit here.

Social Security beneficiaries have received cost-of-living adjustments almost every year since 1975

Until 1975, Congress had to act each time Social Security benefits were increased. The 1970s saw particularly high inflation rates that eroded the purchasing power benefits, leading to the change.

Does Social Security contribute to the national debt?

Social Security operates through a trust fund built from payroll taxes. When costs outpace revenue, as they have since 2021, the program redeems Treasury bonds to cover the gap. To repay these bonds, the government often borrows more money, indirectly adding to the national debt and impacting fiscal policy.

3 types of people who should claim Social Security at 62

Popular wisdom suggests people should wait as long as possible to claim their Social Security benefits. This article argues there are three types of people who would benefit from claiming sooner rather than later—such as people with short life expectancies. To see the other two groups of people who might want to claim as soon as possible, read the article here.

Debunk common myths about Social Security

Myths include the pervasive ideas that undocumented immigrants drain Social Security, members of Congress don't pay into Social Security, the program itself is “going broke,” and more.

The US government is legally allowed to borrow money from the Social Security Trust Fund surpluses as long as it issues Treasury bonds to the Trust Fund in return and repays those bonds with interest when Social Security needs the money to pay benefits.

A rising number of Social Security beneficiaries are taxed on their Social Security income

That’s because while Social Security benefits increase with wages and inflation, the income limits for taxing those benefits stay the same and don’t adjust over time.

New Yorker John D. Sweeney Jr. was the first to receive a Social Security number

However, Sweeney died in 1974 having never received any benefits. Social Security numbers were first created to help track workers' earnings so Social Security benefits could be correctly administered.

Special needs trusts help financially care for dependents with disabilities.

Who has retirement accounts?

Though every worker wants to retire, only some have retirement accounts. Data from the Census Bureau shows those who currently own such accounts are disproportionately white and Asian men in the Baby Boomer generation, suggesting access to these crucial retirement plans is not equal. Dive into the numbers and get a sense of who has retirement accounts here.

Dependent care flexible spending accounts allow people who care for someone incapable of self-care to use pretax dollars to support the dependent person.

Medicare vs. Medicaid explained in 60 seconds

Medicare and Medicaid both provide government-funded healthcare but serve different groups. Medicare, launched in 1965, covers those 65 and over and has three parts: hospital stays (A), outpatient care (B), and prescriptions (D). Medicaid, funded by federal and state governments, supports low-income individuals, with eligibility varying by state.

Most popular baby names in the US by year

The Social Security is one of the most authoritative sources for data on baby names each year. Here's the list of last year's top ten baby names among those children born in the US.

In 2019, Congress passed the Secure Act to reform key aspects of the US tax code

Key Secure Act provisions included raising the age at which mandatory distributions take effect (to increase saving), allowing larger catch-up contributions for older individuals, and allowing employers to directly match contributions in a Roth 401(k).

When a pension holder dies, payments are sometimes passed on to a relative

Those relatives are often the pension holder’s surviving spouses or dependents. This article offers tips from a financial expert on how to make sure your spouse is taken care of during retirement, including navigating a pension’s ultimate destination.

Use this calculator to find out the programs and services your federal income taxes fund.

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Annuities are financial products typically used by retirees looking for guaranteed income streams.

How many Americans receive government assistance?

In 2022, nearly half of all American children—and roughly one in three Americans overall—were enrolled in at least one government assistance program. Those programs provide support for people who cannot afford healthcare, food, housing, or other needs. Find out more about the number of Americans receiving government assistance here.

Roughly 10% of the world has SSAD—SAD’s milder, nonclinical cousin

Subsyndromal affective disorder is diagnosed when someone exhibits two of the nine major criteria for depression (but not more than five) as a result of seasonal changes. While it is milder than primary SAD, SSAD is still significant and impacts millions.

State governments have public pensions for their employees

In many US states, these pensions are set aside for teachers, firefighters, and/or other state government workers. However, many of these pensions are currently underfunded. This map provides a visual representation of how strong each US states’ public pensions are.

Certain government assistance programs are available to green-card holders

Federal programs such as Medicaid and SNAP are often available to US green-card holders, but that's not typically the case for people with other immigration statuses in the US, like DACA recipients, asylum applicants, and unauthorized immigrants.

The Department of Homeland Security manages America's border and immigration enforcement

DHS serves as the umbrella agency managing immigration enforcement, border security, and related public safety responsibilities. Learn more about the department's budget, strategic initiatives, organizational history, and coordination of multiple agencies.

Trump's 2025 'One Big Beautiful Bill Act' expanded access to health savings accounts

After the "One Big Beautiful Bill" took effect, Medicare users with bronze or catastrophic level health plans, as well as certain medical care membership models and telehealth users, became eligible for HSAs. Supporters of HSAs say expanding access to this savings program is more effective in alleviating high consumer costs than subsidizing healthcare plans or direct treatments.

8 key milestone ages in retirement

At age 50, you can make catch-up contributions to retirement accounts. At age 65, you become eligible for Medicare.

Annuities can help protect investors from outliving their retirement savings

While an annuity is also a contract between an individual and an insurance company, a life insurance policy differs in that it protects the beneficiaries in the event of the policyholder’s death.

A spousal IRA allows a working spouse to contribute to an IRA on behalf of their nonworking partner

This ensures both people can build financial security for the future. While it's not a separate account type, this provision requires couples to file a joint tax return to qualify, helping nonearning spouses save for retirement independently.

A work-free retirement is a relatively recent development in human history

Though it looks different in other countries, economic historians trace retirement's rise in the US to a growth in personal income through pensions, GDP, and Social Security.

A 'designated survivor' stays away from the State of the Union to ensure continuity of government

During major events like the State of the Union, one Cabinet member is kept at a secure location. This "designated survivor" would assume the presidency if a catastrophe eliminated those higher in the line of succession.

As healthcare costs have increased post-COVID, critics have been skeptical about the real impact HSAs/FSAs have had in alleviating medical expenses

Health savings accounts and flexible spending accounts are designed to be tax-advantaged ways for people to save money on healthcare and medical expenses. But one recent study found that HSAs can increase families' total out-of-pocket spending on healthcare by more than $500 per year.