Explaining Social Security in 8 Steps

by Calyn Ehid

Social Security Benefits

There are three types of benefits available under the program: retiree, disability, and survivors. The benefit is designed to replace some earnings when a worker retires, can no longer work, or dies. Low earners have a higher share of their income replaced by their benefit than high earners. All benefits paid to survivors, retirees, and disabled adults come from mandatory tax withheld from workers' paychecks. On average, retired workers and widows or widowers receive a benefit of $1,391 per month. Disabled workers receive an average of $1,172 per month. The maximum benefit for someone retiring in 2017 at full retirement age (FSA) is $2,687.Next