Social Security: What's in It for Younger People?

  1. Most people think of seniors when they think of Social Security. Which of these younger people may be eligible for Social Security?
    Disabled workers
    Dependents of disabled workers
    Children and some grandchildren of deceased workers
    All of the above

  2. Many young people don't realize that Social Security is a life insurance policy. Take a 30-year-old couple working at average wages, who have two small children. What is the approximate value of the life insurance they would they have to purchase in order to get the protection that Social Security gives them?

  3. What is the approximate value of Social Security disability insurance for that same couple and their children?

  4. What was the average, annual Social Security benefit paid last year to a family with a widowed mother or father and two or more children?

  5. Do workers have to pass a medical examination in order to be covered by Social Security?

  6. These disability and survivor benefits are direct benefits for individuals. What are some other benefits of Social Security?
    People on Social Security have more money to spend, and that stimulates the economy and creates jobs.
    Young and middle-aged people don't have to worry about being without any income when they grow old or become disabled
    Older people have more independence and dignity
    Children are less likely to have to support their elderly parents
    Because their own parents are less likely to need financial support, parents can provide more for their children when they are growing up and being educated.
    All of the above.

  7. There's talk of privatizing Social Security. What are the differences between Social Security and private accounts in the stock market?
    Social Security protects against inflation
    Social Security is a defined benefit -- meaning, you know what you'll get at retirement.
    Social Security retirement benefits are for life; you cannot outlive them.
    Social Security benefits are not cut if the stock market plunges when you retire.
    Social Security protects a very wide range of people.
    Lower-wage workers get a higher return for their contributions than better-paid workers.
    All of the above

  8. Social Security is doing a great job for millions of Americans. But its opponents say Social Security is going broke. Just when will it go broke?
    In 2027
    In 2037
    In 2047
    In 2057
    It won't go broke.

  9. How many times has Social Security failed to provide monthly benefits?
    Only once
    Twice during World War II when the government was severely pressed for funds.
    Three times, during recessions

    Submit the quiz to find out the answer!

Quiz Prepared for the National Jobs for All Coalition | |

by Helen Lachs Ginsburg, Professor Emerita of Economics, Brooklyn College, CUNY,

Gertrude Schaffner Goldberg, Professor and Director, Ph.D. Program in Social Work, Adelphi University

and June Zaccone, Asst. Prof. Emerita of Economics, Hofstra University

Converted to Web by Dan Berger                                ©2010