- Social Security
- What is Social Security?
- Who Pays for Social Security?
- Who Gets Social Security?
- What is the Social Security Retirement Age?
- How Do Benefits Compare to Earnings?
- The Role of Benefits in Income and Poverty
- Where Do Social Security Taxes Go?
- Social Security's Future Finances
- Public Opinions on Social Security
- How Will Boomers Affect Social Security?
- Social Security as a Share of the Economy
- Options to Balance Social Security Finances
- Proposals for Private Accounts
- How Would Money Be Paid Out of Individual Accounts?
- Children's Stake in Social Security
- Social Security and People of Color
- Women's Stake in Social Security
- Social Security, Marriage, and Divorce
- Social Security for Widowed Spouses in Retirement
- What is Social Security Disability Insurance?
- Key Dates in the History of Social Security
- About the Social Security Section of this Sourcebook
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The Role of Benefits in Income and Poverty
Social Security is the major source of income for older Americans. About nine in 10 Americans aged 65 and older received Social Security in 2009. For two out of three of those beneficiaries (64 percent), Social Security was more than half their total income. Social Security is a large share of income because many Americans age 65 and older lack significant income from other sources. Pensions (from private or government employment) were received by about half of married couples (from either the husband's or the wife's career). Among the unmarried, 40 percent of men and 35 percent of women had pensions.
Social Security is the sole source of income for about one in five (19 percent) people aged 65 and older. Certain subgroups are particularly reliant on Social Security. Of those age 65 and older, Social Security is the sole source of income for 43 percent of Hispanics, 40 percent of African Americans, 21 percent of unmarried women and 33 percent of Asian and Pacific Islanders.
Social Security plays an important role in keeping older Americans out of poverty. The poverty threshold was $10,289 for an aged individual and $12,984 for a aged couple in 2009. About one in 10 Americans age 65 and older is poor, by this measure. If they had to rely only on their income other than Social Security, nearly half would be poor. (Source: Van de Water, Paul N. and Arloc Sherman. "Social Security Keeps 20 Million Americans Out of Poverty, A State-By-State Analysis." Center on Budget and Policy Priorities, 2010).
- Social Security Benefits, Finances, and Policy Options: A Primer
- Social Security: An Essential Asset and Insurance Protection for All
- Children's Stake in Social Security, Social Security Brief No. 27
- Building on Social Security's Success, A Briefing Paper
- Social Security and Retirement Income Adequacy, Social Security Brief No. 25
- Survivor Benefits for Families of Deceased Servicemembers and Overseas Contract Workers, Social Security Brief No. 23
- Strengthening Social Security for the Long Run
, Social Security Brief No. 35 - Can We Afford Social Security When Baby Boomers Retire?, Social Security Brief No. 22
- Uncharted Waters: Paying Benefits from Individual Accounts in Federal Retirement Policy; Study Panel Report (Chapter Two)
- Widows, Poverty, and Social Security Policy Options, Social Security Brief No. 9
- The Economic Status of the Elderly, Medicare Brief No. 4
Read what some NASI members think:*
- Wilhelmina Leigh: "Happy 70th Birthday to the Social Security program, and many happy returns!!" (8/8/05)
- Dwight K. Bartlett: "Social Security Reform" (4/20/05)
* The views of NASI members are their own and not an official position of the National Academy of Social Insurance or its funders.
