Social Security Flashcards
1
Q
Age to get full benefit
A
66 yrs, 4 months
2
Q
Increased benefit when waiting until age 70 to withdraw
A
+ $600/month
3
Q
Is Social Security taxable?
A
Yes (it may be possible to have tax withheld up front, both for SS and for pension)
4
Q
Does Social Security benefit increase each year (is it adjusted for inflation?)
A
Yes
5
Q
How is Social Security paid?
A
Directly deposited to your account
6
Q
Is there a beneficiary for Social Security?
A
Only if married
