Low-income seniors rely on Social Security benefits for a major share of their retirement income
April 01, 2010
SOURCE: Data from the Social Security Administration, Income of the Population 55 or Older, 2010, March 2012. Compiled by PGPF.NOTE: A quintile is one fifth of the distribution. (The lowest quintile is the 20% of the 65+ population with the lowest income.
Social Security provides benefits to retired and disabled workers, their spouses, and survivors. The benefits are progressive. The program currently accounts for 80 percent of income among people in the bottom 40 percent of the beneficiary population. Considering the importance of Social Security benefits to so many Americans, it is essential that any reforms to the program balance long-term solvency with the need to provide income security for the most vulnerable beneficiaries.
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