Which of the following statements is correct regarding Social Security?
a. Retirement benefits under Social Security are intended to provide at least a 50% wage replacement ratio for everyone except for the very highest earners.
b. Non-working spouses of retirees receiving Social Security benefits are entitled to a 50% benefit regardless of the non-working spouse’s age.
c. More than 35 percent of retirees rely on Social Security for more than 90% of their retirement income.
d. All employees in the United States are covered by Social Security and are required to contribute FICA taxes.
e. None of the above are true.