“Employees who use split deposit, or split their pay among various accounts using direct deposit via automated clearinghouse, are more likely than non-split deposit users to contribute to savings each month,” it said. **** READ MORE: Survey shows split-deposit promotes saving NAFCU
Social Studies Social Security 101 The US Social Security system is best known for providing income to the nation’s elderly population based on the amount of money they earned during their working years. The Social Security Act of 1935 established the program amid the worsening poverty crisis that older Americans faced during the Great Depression. By 1934, more than half of those aged 65 and older lacked sufficient income to cover their basic living expenses. Today, most US workers are familiar with seeing a percentage of their pretax income deducted from their paychecks and contributed to the nation’s Social Security trust funds. Starting a...
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