Social Security is a U.S. government program funded through payroll taxes on employees, employers, and self-employed individuals. The taxes are collected under authority of the Federal Insurance Contribution Act (FICA) and support Social Security programs—including Old-Age, Survivors, and Disability Insurance.

Social Security provides a worker with a source of income during retirement or if the worker is unable to work due to a disability. It can also support a worker’s legal dependents (spouse, children, or parents) with benefits in the event of the worker’s death.

The Social Security program is administered by the Social Security Administration (SSA). The SSA keeps track of a worker’s earnings throughout their working life. When a worker retires, the amount of the worker’s monthly Social Security benefit depends on the worker’s earnings and the age at which the worker retires. Workers who retire earlier (beginning at age 62) typically receive lower benefit payments than they would if they postpone retirement.

In Massachusetts, as in all states, Social Security is a federal program managed by the Social Security Administration (SSA). It is funded through payroll taxes collected under the Federal Insurance Contributions Act (FICA). These taxes are paid by employees, employers, and self-employed individuals. Social Security provides benefits for retirees, disabled workers, and the dependents of deceased workers. The amount of retirement benefits a worker receives is based on their earnings history and the age at which they choose to retire. Early retirement can begin at age 62, but taking benefits at this age results in lower monthly payments compared to postponing retirement. The SSA is responsible for tracking earnings and calculating benefits. While the program is federal, Massachusetts residents who need assistance or have issues with their Social Security benefits can seek help from local SSA offices or consult with an attorney specializing in Social Security law.