Social Security payments depend on an individual's wages,but the benefits formula is progressive.

Question

Quizplus · Accepted Answer

The Social Security benefits formula is progressive, which means it's designed to provide a higher replacement rate of income for lower-wage earners compared to higher-wage earners. The formula takes into account an individual's earnings history, but also includes factors that benefit lower earners, such as a progressive benefit formula and a minimum benefit.

Social Security Payments Depend on an Individual's Wages,but the Benefits