Industry News

On May 7, 2019, the Congressional Research Service (CRS) published its updated report, Social Security Primer. The CRS report provides an overview of Social Security financing and benefits under current law. According to CRS, there were about 63.3 million Social Security beneficiaries. Of those, 47.2 million (75%) were retired workers and family members, 10.1 million (16%) were disabled workers and family members, and 6.0 million (9%) were survivors of deceased workers as of March 2019.

The report also includes information regarding: 1) the origins and a brief history of the program; 2) Social Security financing and the taxation of benefits; 3) status of the trust funds; 4) Social Security reform debate; 5) Social Security benefit rules and how benefits are computed; and 6) information about Social Security beneficiaries.

The report is available here.