Almost 64 million American retirees will receive Social Security benefits this year. Social Security is the largest source of retirement income for many of these retirees. How do Social Security taxes and benefits actually work? Who relies on Social Security benefits the most for their retirement income? What are the different options being discussed to address Social Security's financial shortfalls? What are the economic and distributional trade-offs of these options? These questions are more relevant than ever in the face of the aging of the U.S. population, where almost 10,000 Americans are now retiring every day.

Penn Wharton Budget Model experts briefed Capitol Hill staffers on this important topic. Lunch was served.

If you have any questions about the event, please email kimberly.burham@wharton.upenn.edu