1. TRUE
2. FALSE

Your Social Security benefits depend on your lifetime earnings, as calculated by the Social Security Administration. You can find the SSA's online benefits calculator with a quick online search.

1. 401k
   Social Security
2. IRA

A 401k or IRA is a personal investment account into which you pay money and can then reclaim it for retirement. Social Security is a tax-funded, government-run program that's currently under considerable financial strain due to increasing numbers of retirees.

1. 401k
   Social Security
2. IRA

A 401k is an employer-sponsored retirement account, and Social Security taxes are withheld from workers' paychecks. Only an IRA is a fully personal account.

1. the stock market
   government securities
2. a bank account

Though lawmakers have suggested "privatizing" Social Security so that any overpayments could be invested in the stock market, excess Social Security monies are currently used to buy government securities.

1. $500
   $1,000
2. $1,500

The Social Security Administration's published data shows that in November 2010, the average monthly retirement benefit was $1,174 per month.

1. 401k
   Social Security
2. IRA

A 401k is an employer-sponsored account. Some employers will match employee contributions to 401k accounts.

1. TRUE
2. FALSE

No matter what additional savings accounts you have, law dictates that every worker must contribute to Social Security.

1. TRUE
2. FALSE

The law dictates paycheck withholding only for Social Security. Contributing to a 401k or IRA account is an individual's choice (though the government provides incentives in the form of tax breaks for doing so).

1. Social Security benefits will increase.
   Social Security benefits will decrease.
2. The estate tax will be repealed.

This is a highly contentious issue with no real answer. But with fewer workers paying into the system and more retirees claiming benefits, less money will be split more ways. Will benefits decrease? Will the government dip into defecit spending? Will withholding increase? Only time will tell.

1. Social Security and 401k
   Social Security and IRA
2. 401k and IRA

Contributions to 401k and IRA accounts are voluntary, so while it's not recommended by most experts, you could skip contributions to use that money for other purposes.

1. 401k
   Social Security
2. IRA

While you could theoretically contribute as much as you like to Social Security, there's not much logic in it. In 2010, the maximum contribution to an IRA was $5,000 and to a 401k was $16,500.

1. 2021
   2037
2. 2046

According to the Social Security Administration, the fund may expire by 2037. Visit www.ssa.gov for more details.

1. 33%
   50%
2. 66%

According to the Social Security Administration, in 2004, Social Security benefits provided more than half the annual income for more than two-thirds of retired Americans.

1. Social Security payments are mandatory for all American workers.
   Both were illegal under the original U.S. Constitution.
2. Offering benefits at existing rates depends on increasing workers paying into the system.

A Ponzi scheme uses contributions from new members to pay benefits for the (fewer) members cashing out. As long as increasing numbers pay into the system, it functions, but the system doesn't hold enough money to pay all participants.

1. raising the retirement age
   lowering withholding
2. adding benefits

The current age for collection of any Social Security benefits is 62. Some lawmakers propose raising this age.