Millennials need Social Security the most, but a recent Treasury report anticipates it will run out in 2034.

The facts: As long as workers and employers pay payroll taxes, Social Security will not run out of money. Even then, Social Security won’t be broke. It will still collect tax revenue and pay benefits. But it will only bring in enough to pay 78 percent of scheduled benefits, according to the latest estimate.

Critics charge Social Security, as the primary retirement savings tool and biggest tax for many Americans, is a bad deal because payments are puny. It provides an average annual payment of some $17,000. The average recipient receives $1,461 a month, although most seniors pay a tax on these payments.

In the context of Social Security, insolvency means the trust-fund financial cushion is expected to be exhausted by 2033.

Unfortunately, Social Security payments are not guaranteed, and laws can be changed at any time that impact what you’ll receive in benefits. Some of the other myths on this list seem… well, a little ridiculous.

The right to social security is recognized as a human right and establishes the right to social security assistance for those unable to work due to sickness, disability, maternity, employment injury, unemployment or old age.

Generation Z Your benefit amount is based on your 35 highest-earning years. The calculation always uses 35 years, so if you work fewer years than that — you’ll qualify for Social Security as long as you work at least 40 quarters (10 years) — your benefit calculation will have $0 factored in for your non-working years.

The survey found that Generation Z — those born after 1997 — and millennials — born between 1981 and 1996 — expect to retire before age 60 as compared to the average expected retirement age of 62.6.

Myths and misstatements of fact frequently circulate on the Internet, in email and on websites, and are repeated in endless loops of misinformation. One common set of such misinformation involves the history of the Social Security system. One Common Form of the Myths: “Franklin Roosevelt introduced the Social Security (FICA) program.

Social Security ordinarily reviews your medical condition from time to time to see whether you are still disabled, using a process called the medical Continuing Disability Review, or medical CDR.

Before you make decisions about claiming this valuable benefit, let’s clear up 5 of the most common myths about Social Security that could undermine your ability to generate the income you’ll need in retirement to live the life you want. Some people think you have to start claiming your Social Security benefits at age 62.

Originally, Social Security benefits were not taxable income. This was not, however, a provision of the law, nor anything that President Roosevelt did or could have “promised.” It was the result of a series of administrative rulings issued by the Treasury Department in the early years of the program.