Question

The purpose of the Social Security retirement program is to:

A) Increase the retirement income to 75 percent of the pre-retirement income.
B) Pay for health care costs.
C) Replace defunct pension fund plans
D) Provide a basic and adequate income to eligible retirees.
E) Levy tax on the retirement funds of federal civilian employees.

Answer 1

The purpose of the Social Security retirement program is to provide a basic and adequate income to eligible retirees.

Step-by-step explanation:

The purpose of the Social Security retirement program is to provide a basic and adequate income to eligible retirees. It is not intended to fully replace other forms of income, as it typically provides benefits equivalent to 42% of individuals' previous wages. Social Security benefits are based on wages earned while working and are designed to help individuals save for retirement.