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 Nebraska, 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 Contribution 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 benefits a worker or their dependents receive is based on the worker's lifetime earnings and the age at which the worker chooses to retire. Early retirement, available from age 62, results in lower monthly benefits compared to retiring at full retirement age or later. Nebraska state law does not alter the federal Social Security program, but residents of Nebraska are subject to the same rules and regulations governing eligibility and benefits as residents of other states.