According to the Social Security Administration, more than 3 out of 5 retired workers lean on America's most important social program to provide at least half of their monthly income. What's more, 34% rely on Social Security for practically all of their income (90% to 100%). Suffice it to say, Social Security's guaranteed monthly payout has played a critical role for decades in keeping elderly poverty rates low.
Report: Social Security's COLA Would Need to Double to Provide Adequate Benefits to Seniors
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