Facts and figures about the Social Security program:

Facts and figures about the Social Security program:
In 2003, nearly 47 million Americans will receive about $470 billion in Social Security benefits. They include retired workers, disabled workers, dependents and survivors.
Nine out of 10 people 65 and older receive Social Security benefits, the major source of income for most retirees.
Social Security benefits represent 38 percent of income of the elderly.
About two-thirds of aged Social Security beneficiaries receive 50 percent or more of their income from Social Security.
Social Security is the only source of income for about 20 percent of the elderly.
Retired workers and their dependents account for 70 percent of total benefits paid.
Disabled workers and their dependents account for 15 percent of total benefits paid.
About 90 percent of workers age 21 to 64 in covered employment and their families have protection in the event of a long-term disability.
75 percent of the private sector work force has no long-term disability insurance.
An estimated 155 million workers, 96 percent of all workers, are covered under Social Security.
55 percent of the work force has no private pension coverage.
33 percent of the work force has no savings set aside specifically for retirement.
By 2030, there will be twice as many older Americans as today -- from 35 million today to 70 million.
There are currently 3.4 workers for each Social Security beneficiary. By 2030, there will be 2.1 workers for each beneficiary.
2003 vs. 2004
Average monthly Social Security benefits payable in 2003, compared with projected increased benefit in January 2004:
All retired workers: 2003 -- $903; 2004 -- $922.
Aged couple, both receiving benefits: $1,492; $1,523.
Widowed mother and two children: $1,865; $1,904.
Aged widow(er) alone: $870; $888.
Disabled worker, spouse and one or more children: $1,412; $1,442.
All disabled workers: $844; $862.
Source: Social Security Administration