Final answer:
Social Security is the government-administered retirement program designed to provide retirement, disability, and survivors benefits to the eligible population. Workers contribute a percentage of their income into Social Security and Medicare, which then provides financial support and health benefits, mostly to the elderly.
Step-by-step explanation:
The government-administered retirement program in question is Social Security. Social Security is a comprehensive federal program that provides retirement, disability, and survivors benefits. Workers pay a percentage of their income into this program, which in turn provides financial support to the elderly, disabled individuals, and survivors of deceased workers. Medicare is also related to retirement but is specifically a federal health insurance plan that provides benefits primarily to individuals over 65 years old or to those who meet other specific qualifications.
Furthermore, programs like Medicaid, the Supplemental Nutrition Assistance Program (SNAP, formerly known as food stamps), and unemployment insurance are designed to offer assistance to various segments of the population, including the low-income individuals, families in need, and those temporarily out of work. Each of these programs has specific eligibility requirements and serves different purposes in the social safety net. While Medicare and Medicaid are health-related programs and do provide benefits to certain demographics, Social Security is the primary program dedicated to retirement income support.