The Social Security law says that the Social Security Administration is supposed to pay out benefits from the taxes it collects.
This past year the Social Security Administration informed me that my retirement age was sixty-six.
The American system for distributing old age and disability pensions from the federal government. Initiated through the Social Security Act of 1935, Social Security pensions are financed by contributions from workers and employers. Benefits are also available to the survivors of workers covered under Social Security.