TERRE HAUTE —
When you think of Social Security, you probably think about a monthly payment for retired and disabled workers. But Social Security has a rich history full of interesting facts.
The program has been around for almost 75 years, so there has been ample time to put together a list of fun facts and figures. Here are a few.
Social Security paid benefits to about 55.8 million people in 2008. Fifty-six percent of adult beneficiaries were women.
Here is some trivia about wages over the past few years. In 2007, the average annual wage was $40,405. In 2008, it went up to $41,679 (estimated). Looking at the average wages, it’s plain to see how easy it is to reach your full Social Security credit each year.
For example, in 2009, a wage-earner needed to earn and pay taxes on $4,360 of wages to earn the full four credits of Social Security coverage for the year.
How useful can Social Security be? In 2008, 88 percent of married couples and 86 percent of single people aged 65 or older received Social Security benefits. Social Security was the major source of income (providing at least 50 percent of total income) for 53 percent of aged beneficiary couples and 73 percent of aged single beneficiaries.
Social Security made up 90 percent or more of income for 21 percent of aged beneficiary couples and 44 percent of aged single beneficiaries.
New benefits were approved for about 5.1 million people in 2008. Of these new beneficiaries, 44 percent were retired workers and 17 percent were disabled workers.
The remaining 39 percent were survivors or the spouses and children of retired or disabled workers.
Then there’s Supplemental Security Income, a program that provides income to needy people aged 65 or older, or who are blind or disabled. Payments under SSI began in January 1974, with 3.2 million people receiving federally administered payments.
As of December 2008, the number of recipients was 7.5 million. Of this total, 4.3 million were between the ages of 18 and 64, 2 million were aged 65 or older, and 1.2 million were under age 18.
To learn more, read our online publication “Fast Facts & Figures About Social Security, 2009” at www.socialsecurity.gov/policy/docs/chartbooks/fast_facts.
50 Years Later, Underground Fire Still Burning
Police: Gunman Has Hostages in Realty Office
Raw Video: Dragon Arrives at Space Station
Raw Video: Unruly Passenger Restrained in Miami
Dragon Arrives at Space Station in Historic 1st
Beer Here!: An Historic Exhibit
Raw Video: SpaceX Capsule's Docking Delayed
Calif.'s Coronado Named Nation's Best Beach
Fugitive Penguin Caught, Returned to Aquarium
Passenger Restrained on Flight to Miami Arrested
Light Show Transforms Sydney Opera House
Raw Video: Robber Uses Drive-thru Window
Texan Ranchers Remain Wary of Drought
CEO Salaries Become Sore Issue in Labor Disputes
Sudden Storm Topples Wisconsin Trees
Raw Video: Soldiers Plant Flags at Arlington
Raw Video: Toddler Trapped in Washing Machine
Raw Video: Wildfire Burns 110 Square Miles
Raw Video: Fight Erupts in Ukrainian Parliament
Police: Man Arrested in Etan Patz Disappearance
Kristen Stewart Is Red Hot
Shark Attacks Australian Fishing Boat
Bradley out for playoffs
Kayaker Survives Trip Over Washington Waterfall
Alison Brie Likes To Jog Naked
Heidi Klum Goes Sheer
Alton's Best Burger Ever
Ellie Kemper's Stripper Surprise on 'Ellen'
Maddie the Balancing Dog On Cross-Country Trip
Crawford's Sexy Leather Look
Boys eyes 'removed with spoon'
"Twilight" Stars Caught Kissing
Etan Patz Case: Suspect Arrested
Britney's Hot Pink Mini-Dress
Wrongfully accused rapist exonerated after 5 years in jail
Actress to Play Casey Anthony
Hurricane Forecast: 15 Named Storms Expected
Prince William on The Queen: 'Woman in Man's World'
