Social Security in Four Parts

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Part 3: Benefit Categories

The Social Security Act of 1935 and its amendments created four categories of benefits, each based on the earnings records of a covered worker, and each designed to provide a basic level of economic security. In the third segment of our four-part series, we’ll focus on retirement benefits that are linked to the earnings of an individual worker. Continue reading

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Social Security in four parts

Social Security ImagePart 2: Eligibility and benefits

In part two of our summary of the Social Security program, we’ll discuss the qualification requirements for retirement benefits, how they are calculated and adjusted, the point at which beneficiaries attain their full retirement age (FRA), and important rules for early or delayed filing. Our final segments will provide a summary of the types of benefits available, and some simple strategies that can help readers maximize their benefits. Continue reading