Faculty Publications

Title

Social Security Could Be In Worse Shape Than We Thought

Document Type

Article

Publication Date

2-18-2015

Abstract

Social Security is the backbone of retirement planning in the United States. Nearly one-third of retirees receive almost all of their retirement income from the system and nearly two-thirds receive more than half of their retirement income from Social Security. In short, America’s retirees need Social Security. However, it is not only retirees that rely upon Social Security. The Social Security Disability Insurance Trust Fund provides benefits to disabled workers, their spouses, and children. In December 2014, nearly 11 million people received Disability Insurance from Social Security, with an average benefit of roughly $1,000 per month.