Social Security

Introduction
Social Security retirement benefits can be considered an inflation-adjusted life annuity. Therefore it has a close connection to withdrawal strategies during retirement, as well as immediate annuities.

The best source of information about Social Security can be found at the site social security on-line. The site has convenient links to the primary concerns of the average citizen which include:


 * 1) Your Social Security records
 * 2) Retirement
 * 3) Medicare
 * 4) Disability & SSI
 * 5) Widows, widowers & other survivors
 * 6) Get help with your situation

Details on how the retirement benefit is computed can be found at Your Retirement Benefit: How It Is Figured.

Other source materials from the Social Security Administration include:


 * The Social Security Handbook (Table of Contents)
 * A Glossary of Social Security Terms

Vanguard has a Plain Talk Publication on Social Security:Understanding your social security benefits.

Here are some additional links to information on the Social Security Administration website.

The Program Operations Manual System

Planning Social Security Benefits
Bud Hebeler's site analyzenow contains excellent resources on planning social security benefits. The Articles section contains a segment on Social Security where the timing of taking Social Security benefits is considered. The Free Programs section provides Social Security Spreadsheets.

The following papers examine the planning of social security retirement benefits:


 * Estimating the Value of Social Security Retirement Benefits by William W. Jennings and William Reichenstein, August 20, 2001
 * Rethinking Social Security Claiming in a 401(k) World by James I. Mahaney and Peter C. Carlson, PRC WP 2007-18 Pension Research Council Working Paper (August 2007)
 * The Effect of Retirement Under Social Security at Age 62 by Robert Muksian, Ph.D. Journal fo Financial Planning, (January 2004)
 * Calculating Break-Even Ages for Delaying Social Security Beyond Normal Retirement Age by Robert Muksian, Ph.D. Journal fo Financial Planning, (March 2006)
 * When Should Women Claim Social Security Benefits? by Alicia H. Munnell and Mauricio Soto, Journal of Financial Planning (June 2007)
 * Estimating the Social Security Windfall Elimination Provision's Impact on Clients by Richard Mason, Ph.D., J.D.; John R. Mills, Ph.D., CPA; and Brian Ferrell, CPA, Journal of Financial Planning, (December 2005)
 * Where can a 70-year-old buy the least expensive life annuity by John P. Greaney

Taxation
The tax aspects of Social Security benefits are laid out in IRS Publication 915 (2006), Social Security and Equivalent Railroad Retirement Benefits.

Regulations
The Code of Federal Regulations (Social Security Section) (see section 404)

The Social Security Law [42 USC Chapter 7] (Also here)