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Image source: Getty Images. 1. Spousal benefits. Social Security doesn't just take care of older Americans who paid into the system. It also takes care of their spouses, or ex-spouses.
The Windfall Elimination Provision affects people who qualify for Social Security benefits through their job but also receive a pension from another job where they didn't pay into Social Security.
The WEP reduces Social Security benefits for individuals who get a pension from a job that didn’t require them to pay taxes into the program (despite having worked other jobs that did), while ...
The average gig worker is likely just clearing enough money to pay bills, or perhaps supplementing a day job. As such, they may not be paying enough (if anything) in Social Security taxes toward ...
Social Security is an earned benefit and has strict qualifying rules. To receive Social Security payments in retirement, a recipient must have worked and paid into the SSA system for at least 10 ...
Image source: Getty Images. How Social Security taxes work. Social Security payroll taxes are collected under the Federal Insurance Contributions Act ().This tax is 12.4%, split evenly between ...
As it comes closer to being signed into law, these discussions serve as a reminder of the importance retirees should place on savings outside Social Security. For one thing, without government ...
A recent survey from SeniorLiving.org found that a significant number of Americans feel Social Security should be an optional program, with workers able to make the choice to pay into the program ...