Tags: social | security | benefits | recipients

Social Security Recipients Rivaling Full-Time Workers

Tuesday, 13 Sep 2011 12:21 PM

Government data reveal that there were just 1.75 full-time employees working in the private sector in the United States in 2010 for each recipient of Social Security benefits, reports CNSNews.com.
 
Money paid toward Social Security in 2010 was almost $33 billion short of covering the $577.4 billion in benefits paid out that year, according to the latest report from the Social Security board of trustees.
 
The board also found that there were 2.9 “covered workers” paying into Social Security for every beneficiary (compared to a staggering 41.9 workers per beneficiary in 1945). CNS News found, though, that the board had included part-time workers as well as public-sector employees in its data, which skewed results unrealistically because of the way money is deducted from public payroll checks to cover Social Security.
 
Data from the Bureau of Labor Statistics that looked at just full-time private-sector workers show that 93.6 million worked full time in the private sector in 2010, from which the 1.75 figure was calculated.

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