retirement

What is Social Security?

 

What is Social Security?

The Bankrate.com financial term of the day is: "Social Security."

Social Security is the government program that's designed to help keep older folks out of poverty. The benefits are paid for with payroll tax money that comes from workers and employers. Social Security was launched in 1935 as part of President Franklin Roosevelt's New Deal.

Social Security is Uncle Sam's retirement safety net.

For answers to all of your retirement questions, visit the Retirement section at Bankrate.com.

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