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Friday, August 05, 2005

Remember, It’s Social Insurance

In the debate over Social Security reform, we often forget that Social Security is not a retirement savings program, it is a social insurance program designed to reduce economic risks faced by our citizens.  The program does things such as:

Social Security's Series of Nationwide Events Gives Individuals with Disabilities a Ticket to Work, Forbes:  Social Security Associate Commissioner Sue Suter joined Social Security District Manager … Steven Helms ... to host the ninth in a series of 10 nationwide employment Conferences and Expos … A component of the Ticket to Work program, the Conference and Expos are educational employment career events from Social Security specifically created for individuals with disabilities. … Ticket to Work is a free, voluntary program that helps Social Security disability beneficiaries navigate the employment process and overcome the barriers to finding fulfilling careers. Ticket to Work connects Social Security disability beneficiaries to various programs -- from employment to vocational rehabilitation -- so they have the tools, assistance, and guidance they need to find the right job. …

In June, 2005 retired workers received 62.9% of Social Security benefits.  The remaining 37.1% is distributed among disability insurance (16.9%), survivors insurance (14.0%), and spouses and children in the retirement benefits category (6.3%).  Social Security is an important social safety net that is far more encompassing than just retired workers, and any discussion of reform must keep this in mind.

    Posted by on Friday, August 5, 2005 at 12:33 AM in Economics, Social Security | Permalink  TrackBack (0)  Comments (2)

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