NAME: ______
Social Security Internet Scavenger Hunt
Search the internet and find the answers to these questions about Social Security:
What is Social Security?
When & why was Social Security Established?
What are the three main groups who benefit from this program?
-
-
-
Where does the money come from?
Two groups pay in, you and your employer.
- What % of your income is taxed for Social Security in 2010?
o Social Security?____ Medicare?____Total of the two? _____
- What % of your income is normally taxed for Social Security?
o Social Security?____ Medicare?____Total of the two? _____
- What % of your income does your employer pay in?
o Social Security?____ Medicare?____Total of the two? _____
- What does “Pay as you earn” mean with the Social Security tax??
- At what point in your earnings, if any, will you no longer pay Social Security?
- What is FICA?
What are the Problems associated with Social Security?
What year will problems start? (Note that the date will vary depending on the source?)
What year will Social Security pay out more than it takes in?
What are some of the main issues?
What are some SOLUTIONS?
How much will you get?
How is the amount you get paid determined?
How long do you have to work to get the full amount?
Should you plan on Social Security to retire?
What can you do to supplement a lack of Social Security in your old age?