Examine the fundamental workings of the Social Security system and the system’s effects on retirement planning.

Examination should include

• the purpose of Social Security
• factors affecting benefits (e.g., the amount of the contributions made to the system, age of recipient)
• types of benefits (disability, survivor, retirement, hospital, and medical).

Examination should consider Social Security’s effects on retirement planning, to include a determination of

• which jobs provide Social Security benefits, which jobs require payment into the system when income tax is paid, and which jobs do not have Social Security benefits
• when retirement will occur and whether there is an interim period that is not covered by Social Security
• what potential benefits may be received and whether the recipient’s lifestyle will require a supplemental retirement plan.