Question

question 1/1
which statement best describes what social security is and how it works?
a. social security is a mandatory payroll deduction for current workers who then receive the retirement benefit on an annual basis,

b. social security is an optional program to allow retirees to continue contributing to their individual retirement accounts.

c. social security is a government program that pools contributions from current workers to then provide retirement support benefits to those who are eligible.

d. social security is a federal health insurance program for retired workers.
select an answer

Explanation:

• Option A: Social Security benefits are typically paid monthly, not annually, so A is incorrect.
• Option B: Social Security is mandatory (not optional) and is not about individual retirement accounts contributions from retirees, so B is incorrect.
• Option C: Social Security is a government program that collects payroll taxes from current workers (via FICA) and uses those funds to provide retirement (and other) benefits to eligible individuals (including retirees, disabled, survivors), so this matches how it works.
• Option D: Social Security is not a health insurance program (Medicare is the federal health insurance for seniors, etc.), so D is incorrect.

Answer:

C. Social Security is a government program that pools contributions from current workers to then provide retirement support benefits to those who are eligible.