Here is the synopsis of our sample research paper on Understanding Social Security. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
8 pages in length. Explains the Social Security program, why it is likened to a pyramid scheme and the future of Social Security. A person who retired in 1940 earned a return on his contributions of approximately one hundred thirty five percent. Those type rates did not last too long, but the returns were still very good. The rate of return was twenty-four percent for those who retired in 1950, fifteen percent in 1960, and ten percent in 1970. This paper also tells 'the rest of the story'. Includes 2 charts. Bibliography lists 7 sources.
Page Count:
8 pages (~225 words per page)
File: D0_JGAsosec.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
She need not worry about retirement since, after all, the government was taking Social Security out of her paycheck every week. How Social Security Works
In order to understand the Social Security retirement benefits we must remember several things. A worker may retire earlier or later than his or her normal
retirement age of sixty-five. However, early retirement occurs from age sixty-two through age sixty-four, and late retirement of course occurs after the sixty-fifth birthday. The primary insurance amount
would therefore be the monthly retirement amount that is received by a worker who retires at age sixty-five. A spouse receives benefits after age sixty-five. The Primary Insurance
Amount for early retirees is reduced by .56% for each month of entitlement before normal retirement age and the maximum reduction is twenty percent, for retirement at age sixty-two. A
spouses benefits are reduced .69% for each month of entitlement before sixty-five to a maximum of twenty-five percent at age sixty-two. The Primary Insurance Amount for late retirement is increased
by .29% for each month of delay (Sprohge 53). The decision of when to actually retire becomes more a question of whether a worker is better off taking eighty percent
of the Primary Insurance Amount at age sixty-two or waiting to get one hundred percent at age sixty-five. Normally the future value of full retirement payments begun at sixty-five
will not equal the future value of reduced retirement benefits begun at age sixty-two until many years into the future. Sprohge (53) gives as an example the case of
the Bowman twins, "Mike and David, born in 1930. The earnings of both since 1951 were subject to the maximum Social Security tax. Mike takes reduced benefits at age sixty-two,
...