ich relieves families of financial burdens from supporting other family members.
             Social Security has made an enormous difference in the lives of older Americans. American workers can retire as early as age 62. At this age, wage earners are eligible to get reduced benefits from Social Security. Wage earners may wait for full retirement age to be eligible for full retirement benefits. Currently, full retirement age is 65, but will be moved up gradually starting in 2003. The new retirement age will be 67 for people born in 1960 or later.
             Social benefits payments are paid out to more than 9 in 10 retirees. In America, only 11 percent of senior citizens live in poverty. Without Social Security benefits, the percentage of seniors living in poverty would be much higher. Social Security is the major source of income for about two-thirds of elderly Americans, and for abut a third Social Security is virtually their only source of income. Retired Americans are given a dependable monthly income from Social Security. Automatic increases are tied to increases in the cost of living. Social Security gives retired American citizens a measure of deserved financial independence (and that measure is becoming lower every year).
             Social Security is more than a retirement program. It is also a protection plan for American citizens. Valuable disability and survivors' insurance protection are given to younger wage earners and their families. There are about 1 in 3 workers who are Social Security beneficiaries that are not retired. Monthly survivors' benefits are given to about 7.5 million people and more than 6 million workers and family members receive disability benefits.
             Social Security provides a foundation on which to build retirement security. Social Security, pensions and savings is a three-legged financial stool for a comfortable retirement. Unfortunately, there is only a little more than half of all workers w...