Social Security
social security 
The definition of Social Security is a federal program funded by U.S. employees and employers to provide funds to retired, unemployed and disabled workers.
An example of Social Security is a monthly check received by a retired worker which is based on the age of the worker and the amount of money the worker has earned over their work history.
social security
⌂
- any system by which a society or community provides for those of its members who may be in need
- in the U.S., a federal system of social-insurance and welfare programs, including Medicare and Medicaid, paying benefits to eligible persons who are retired, unemployed, disabled, indigent, etc.
- benefits paid by this system, esp., the monthly check issued to eligible retirees
social security
noun
- often Social Security Abbr. SS A government program that provides economic assistance to persons faced with unemployment, disability, or agedness, financed by assessment of employers and employees.
- The economic assistance provided by social security.
social-security
Noun
(uncountable)
- A system whereby the state either through general or specific taxation provides various benefits to help ensure the wellbeing of its citizens.
- Those benefits paid under such a system.
- (US) A specific such social benefit providing income in retirement or disability.
social security - Investment & Finance Definition
A federal program, created under the Social Security Act of 1935, that is designed to provide some financial support to retirees. The program is paid for from a Social Security tax that is deducted from employees’ paychecks as well as from contributions made by employers. The paycheck deductions show up as FICA, which stands for the Federal Insurance Contributors Act.
social security - Legal Definition
n
A
federal program established by the Social Security Act in 1935 in response to
the Great Depression, it is a form of universal insurance contributed to by all
workers and administered by the Social Security Administration that distributes
benefits to retired workers when they be come eligible, by virtue of age or
disability, and to survivors. The act also gives assistance in the form of aid
to families with dependent children.
