Disability Law

Social Security Benefit: Why It’s So Valuable

Critics of Social Security and some of its friends often ask why its return on our investment, the years of payroll deductions, is so small. That would be a fair question if Social Security were an investment program, but it’s not. It’s more than that, much more.

A unique new report was released last month by the nonpartisan, nonprofit National Academy of Social Insurance titled “Social Security: An Essential Asset and Insurance Protection for All.” As far as I know, it’s the first close look at the monetary value of Social Security for all beneficiaries. Social Security is a life insurance policy with survivor benefits, disability insurance and, most important, it’s one of the nation’s few remaining guaranteed defined-benefit pension plans. And it’s worth thousands more than most retirement savings plans or annuities. See Full Newsday Article Here:

Full post as published by Social Security Disability Law Blog on March 08, 2008 (boomark / email).