Another name for Social Security is:

Question

Quizplus · Accepted Answer

Social Security is commonly referred to as FICA (Federal Insurance Contributions Act) because it is funded through payroll taxes that are withheld from employees' paychecks and matched by their employers. Social Security provides retirement, disability, and survivor benefits to eligible individuals. Option B, withholding, refers to the process of deducting taxes from an employee's paycheck, but it is not specific to Social Security. Option C, retirement, is a benefit provided by Social Security, but it does not encompass all of the program's offerings. Option D, employee savings, is not an accurate description of Social Security because the program is funded through contributions from current workers and their employers, not individual savings accounts.

Another Name for Social Security Is