The Social Security System in the U.S.is best described as a:

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The Social Security System in the U.S. is best described as a pay-as-you-go system, where current workers' payroll taxes fund benefits for current retirees. It's not a defined benefits plan (where specific retirement benefits are guaranteed) or a defined contribution plan (where workers contribute to individual retirement accounts). Additionally, while employers do contribute to the Social Security fund through payroll taxes, it's primarily funded by workers.