Many Americans have questions about their future Social Security Benefits and this section hopes to address many of them. There are sections devoted to learning more about your Social Security benefits and a calculator that helps you determine what your benefits will actually be. For both of these sections, we provide a direct link to the official Social Security website.
The term “Social Security” refers to the federal Old-Age, Survivors, and Disability Insurance (OASDI) program. Since its creation in 1935, it has been often been referred to as an important leg of the “three legged stool” of retirement savings- the other two being a worker’s pension plan and personal savings.
Questions about the long-term sustainability of the Social Security program are not new. The past several presidents have supported initiatives to reform the system and proposals to privatize Social Security became part of the debate during the Bill Clinton and George W. Bush presidencies. Most recently, President Obama issued an executive order mandating the creation of the bipartisan National Commission on Fiscal Responsibility and Reform, which made ten specific recommendations to ensure the sustainability of Social Security.
Learn More About Your Social Security Benefits
For most Americans, Social Security is an important component of their retirement income. The Social Security Administration provides a website and other resources to help inform you about your benefits options. Learn more about your Social Security benefits.
Social Security Retirement Planner
A secure, comfortable retirement is every worker’s dream. And now because we’re living longer, healthier lives, we can expect to spend more time in retirement than our parents and grandparents did. Achieving the dream of a secure, comfortable retirement is much easier when you plan your finances.
This planner provides detailed information about your Social Security retirement benefits under current law. It also points out things you may want to consider as you prepare for the future. Explore the Social Security Retirement Planner.
Social Security Claiming Guide
The Center for Retirement Research at Boston College produces this helpful guide. If you’re approaching retirement, when you claim benefits is the most important financial decision you’ll likely make. The Social Security Claiming Guide sorts through all the options, spells out how much you can get, and answers frequently asked questions – all in a clear, easy-to-read, and colorful format. The companion brochure offers highlights of the Claiming Guide.
Social Security Fix-it Book
The Center for Retirement Research at Boston College also produces this booklet that details everything the earnest but overburdened citizen needs to know about the Social Security financing shortfall and the leading proposals for addressing the problem.