A national insurance program that provides income to workers when they retire or are disabled and to dependent survivors when a worker dies. Retirement payments are based on worker's earning during employment.
Financial support provided by the government for people without other forms of income• De Facto Relationships• Social Security
is sometimes used as a substitute for the term social welfare or income security. It is generally an American term, but has been also used by Canadian governments. For example, "Social Security in Canada", published in 1994 by the federal government uses the term to refer to both income security and social services. In Canada when the term is used, it usually does refer to both income security and social services. But, the term social welfare is more widely accepted.
The social security system in Germany has a long tradition that stretches back into the 19th century and is built on five pillars: pension, health, nursing care, accident and unemployment insurance. All members enjoy solidarity-based security against major risks and in old age.
The comprehensive federal program of benefits providing workers and their dependents with retirement income, disability income, and other payments. see also backup withholding, security, self-employment tax, tax identification number, transfer payments.
a Federal safety-net system which provides disability payments in addition to retirement benefits.
government program that provides economic assistance to the elderly, financed by assessment of employers and employees.
The old age, survivors and disability insurance section of the Federal Social Security Act.
A term used to describe an agency, a card, and two types of tax. The Social Security Administration (SSA) is an agency of the U.S. Department of Health and Human Services. The card bears a unique nine-digit identification number and is issued to qualified individuals primarily to determine eligibility for social benefits earned through various forms of employment. The number on the card is also used by the IRS for data collection and record keeping. The taxes, known as FICA (Federal Insurance Contribution Act) and Medicare, are withheld by employers from workers wages and paid to the federal government for redistribution to workers after their retirement. The FICA amount withheld from wages is 7.65 percent of total earnings up to a certain salary level.
Laws designed to protect vulnerable members of society from problems resulting from old age, sickness and unemployment.
A federal government program established in 1935 to provide old-age and survivors insurance, contributions to state unemployment insurance and old-age assistance.
social welfare program in the U.S.; includes old-age and survivors insurance and some unemployment insurance and old-age assistance
an international concept and a mandatory benefit in most countries, giving coverage to and thereby automatically taxing any worker earning income in that country
A state department which works through the Department of Work and Pensions (DWP) to organise financial aid and assistance in the form of State benefits
A federal program of old age and related benefits covering most workers in the country.
A program of the United States federal government that provides retirement income, health care for the aged, and disability coverage for eligible workers and their dependents.
The government-sponsored program we hear so much about which is designed to provide basic pensions and disability income for U.S. citizens.
A federal program, which provides benefits to all working Americans in the form of disability, retirement or survivor benefits. Disability is strictly and narrowly defined and benefits begin in the sixth month of a disability that has an expectation of lasting at least 12 months or will result in the individual's death.
The national system providing federal old-age, disability and unemployment benefits paid out of a trust fund to which employers and employees are required by law to contribute.
Social Security is the government program designed primarily to provide minimum retirement benefits for taxpayers. The amount of your benefit varies based on your age at retirement and your income levels during your working years.
A social insurance program that covers most of the Nation's work force. It is often the basic retirement plan to which other benefits are added. It provides retirement, disability, survivor, and Medicare benefits.
Federal government program that provides retirement and disability benefits to workers and their dependents. Workers pay for Social Security through payroll taxes. Specific information about Social Security benefits and criteria for eligibility can be found at www.ssa.gov.
The government program which provides medical benefits, disability benefits, death benefits and retirement benefits to most workers. Both an employer and an employee contribute a percentage of the employee's salary to Social Security. Social Security often appears on an employee's pay stub and form W-2 under the heading FICA.
A tax paid by employers and employees that provides poverty insurance for those who need it. It is a safety net to protect the country from a sudden rise in poverty which would drain our economy and slow down recovery from an economic downturn.
The programs first created by Congress in 1935 and now composed of Old Age, Survivors and Disability Insurance (OASDI), Medicare, Medicaid and various grants-in-aid, which provide economic security to nearly all employed people.
The Old Age, Survivors, and Disability Insurance (OASDI) component of FICA.
A system of federal old-age pensions for employed persons begun in 1935. A portion of the payment is deducted from the employee's salary and an equal portion is contributed by the employer.
A federal program of retirement or disability payments created by taxing employees' income.
A U.S. government pension program that provides benefits to retirees based on their own and their employers' contributions to the program while they were working.
An insurance plan, relating to life insurance and old age pensions, offered/required by the Federal government to specified groups of the population, on a contributory basis.
A term used to describe an agency, a card, and two types of tax. The Social Security Administration (SSA) is a government agency housed in the Department of Health and Human Services. The card contains a unique nine-digit identification number issued to qualified individuals primarily to determine eligibility for social benefits through various forms of employment. The number on the card is also used for tax record keeping. The taxes, known as FICA (Federal Insurance Contribution Act) and Medicare, are withheld from employment income to provide for retirement later. The actual amount withheld from a paycheck for FICA and Medicare is 7.65 percent of total earnings to a certain salary level. Information on applying for a Social Security number is below.
The sum of measures taken by a government to protect the individual against shortfalls in income and to provide help at times of special need. One measure commonly employed is social insurance (q.v.).
Refers to federal assistance administered by the Social Security Administration. Phone: 800-772-1213 (voice); 800-325-0778 (TTY). Website: www.ssa.gov.
Federal government income plan payable to retied workers, survivors, and indi- viduals with disabilities, who qualify.
Social Security is based on a simple concept: While you work, you pay taxes into the Social Security system, and when you retire or become disabled; you, your spouse and your dependent children receive monthly benefits that are based on your reported earnings. Also, your survivors can collect benefits if you die.
Comprehensive federal benefit program providing workers and their depen- dents with retirement and disability income.
A program of the federal government that provides workers and their dependents with retirement, disability , and other payments. The money for Social Security payments comes from a tax, usually labeled " FICA" on your paycheck, that employees and employers pay equally. Learn more about what you'll get out of Social Security here.
Social Security is a government-funded program to provide people who are unable to work with compensation so that they are able to live. Social security disability can be difficult to apply for and receive without the aid of a social security disability lawyer.
The disability or retirement programs established under the federal Social Security Act of the Railroad Retirement Act.
In the United States, a federal program that provides specified benefits, including a monthly retirement income benefit to people who have contributed to the plan during their income-earning years. The program also provides a benefit to qualified disabled individuals, as well as to the widows, widowers, and surviving dependent children of qualified deceased workers.
(1) The programs provided under the United States Social Security Act of 1935, plus amendments and additions thereto. It is now called Old Age, Survivors, Disability, and Health Insurance. (2) Any government program which provides economic security for portions of the public, e.g., Social Insurance, Public Assistance, Family Allowances, and Grants-in-Aid.
A federal program under the Social Security Act which provides for retirement, disability and other related benefits for workers and their eligible dependents.
In the United States, a federal program that provides monthly income benefits to qualified workers who retire or become disabled and to the surviving spouses and dependent children of covered workers who have died.
Retirement Changing Your Name Parenting & Adoption Marriage & Living Together Divorce & Child Custody Health Care & Elder Care Immigration & Green CardsRenters’ Rights Employee Rights Consumer Rights Go to Court or Mediate Personal Injury Criminal Law Traffic TicketshomeGLOSSARY Social Security The general term that describes a number of related programs, including retirement, disability, dependents and survivors benefits. These programs provide workers and their families with some monthly income when their normal flow of income shrinks because of retirement, disability, or death.
transfer payments underfunded pension plan
The term includes a lot of programs like retirement, disability, dependents and survivors benefits, etc that provide workers and their families with some monthy income in certain cases.
Social Security, in the United States, refers to the Federal Old-Age, Survivors, and Disability Insurance (OASDI) program. The original Social Security ActSocial Security Act of 1935 and the current version of the Act, as amended[42 USC 7] encompass several social welfare or social insurance programs.
Sweden's economic formula of a capitalist system interlarded with substantial welfare elements was challenged in the early 1990s by high unemployment. However, fiscal discipline over the past several years has allowed the country to weather economic challenges.