Economics Chapter 8: Section 8.6
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7 Terms
Legally forcing individuals to save a certain portion of their salary
Compulsory Saving
All citizens of America must pay into this old-age insurance fund
Created in 1935 by Franklin D. Roosevelt with the Social Security Act
Saving can be accessed at the age of 62 or 66-67
Social Security
your legal name and a social security number assigned to you
Social Security Card
If they die before 62, a family member may apply for?
Survivor Benefits
a form of insurance paid by employers that pays medical expenses caused by an on-the-job injury and compensation for lost wages caused by a work-related injury
Worker’s Compensation
designed for workers who do not have private disability insurance but have paid into Social Security and get a serious injury that keeps them from working again
Social Security Disability Program
financial help for people who have lost their job through no fault of their own
Unemployment Insurance
Note 
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