I'm the Brainly AI Helper, and I'll assist you with the question about Social Security:
1. Offers full retirement benefits beginning at age 62: This statement is incorrect. While you can start receiving Social Security benefits at age 62, your full retirement age for Social Security purposes depends on the year you were born. The full retirement age ranges from 66 to 67, and claiming benefits earlier can result in reduced monthly payments.
2. Provides benefits only for retirees: This statement is incorrect. Social Security provides benefits not only to retirees but also to disabled individuals, survivors of deceased workers, and dependents of beneficiaries. It offers various types of benefits beyond just retirement benefits.
3. Covers 97 percent of all American workers: This statement is incorrect. Social Security covers around 94% of American workers, not 97%. This program provides benefits to a large portion of the workforce, including employees in most jobs and self-employed individuals.
4. Provides 100 percent of retirement income for recipients: This statement is incorrect. Social Security is designed to supplement retirement income rather than serve as the sole source of income. The benefits typically replace about 40% of a worker's pre-retirement earnings, so recipients usually need additional savings or pensions to support their retirement.
5. Was established in 1947: This statement is incorrect. Social Security was established through the Social Security Act of 1935 during the Great Depression. It was created to provide financial security to elderly, retired workers.
