Social Security in the United States

URI: https://gptkb.org/entity/Social_Security_in_the_United_States
GPTKB entity
Statements (51)
Predicate Object
gptkbp:instanceOf social insurance
gptkbp:administeredBy gptkb:Social_Security_Administration
gptkbp:age 62 (early retirement)
gptkbp:annualCostOfLivingAdjustment yes
gptkbp:annualReport gptkb:Social_Security_Trustees_Report
gptkbp:benefit disabled individuals
over 65 million (2023)
retirees
surviving spouses
children of deceased workers
gptkbp:contributionsRequired yes
gptkbp:country gptkb:United_States
gptkbp:criticizedFor benefit adequacy
long-term solvency concerns
regressive payroll tax
gptkbp:disabilityProgram gptkb:Social_Security_Disability_Insurance
gptkbp:employerContribution 6.2%
gptkbp:establishedBy gptkb:Social_Security_Act_of_1935
gptkbp:firstPaymentYear 1940
gptkbp:fullRetirementAge 66-67
gptkbp:fundedBy payroll taxes
gptkbp:headquarters gptkb:Woodlawn,_Maryland
https://www.w3.org/2000/01/rdf-schema#label Social Security in the United States
gptkbp:largestFederalProgram yes
gptkbp:mainLegalCode gptkb:Social_Security_Act
gptkbp:medicareConnection Medicare payroll tax collected together
gptkbp:monthlyPayments yes
gptkbp:notablePerson gptkb:Frances_Perkins
gptkb:Franklin_D._Roosevelt
gptkbp:payrollTaxLimit $160,200 (2023)
gptkbp:payrollTaxRate 6.2%
gptkbp:purpose provide retirement benefits
provide disability benefits
provide supplemental income
provide survivors benefits
gptkbp:reformProposals gptkb:government
means testing
increase payroll tax cap
raise retirement age
gptkbp:relatedTo gptkb:Medicare
gptkb:Railroad_Retirement_Board
gptkb:Supplemental_Security_Income
gptkb:Unemployment_Insurance
gptkbp:selfEmployedContribution 12.4%
gptkbp:supplementalProgram gptkb:Supplemental_Security_Income
gptkbp:taxableBenefits yes
gptkbp:trust gptkb:Disability_Insurance_Trust_Fund
gptkb:Old-Age_and_Survivors_Insurance_Trust_Fund
gptkbp:website https://www.ssa.gov/
gptkbp:bfsParent gptkb:Social_Security_Trust_Funds
gptkbp:bfsLayer 6