Definition - What does Social Security Number mean?
A Social Security Number is a nine-digit number allocated to citizens of the United States. The number is used to track payroll and taxes for working citizens in order to disburse social security insurance and benefits. The use of Social Security Numbers started in 1936 and is now regarded as a widely used personal identifier for most aspects of daily life.
SureHire explains Social Security Number
A Social Security Number is allocated at birth by the Social Security Administration (SSA). The master file of all social security numbers is called the Numident and is maintained by the SSA.The number comprises of three sections – digits one to three are the area number, digits four to five are the group number and digits six to nine are the serial number. A Social Security Number is compulsory for securing employment within the United States for citizens.
The disbursement of benefits is financed by taxation on payroll. Retirement and disability income are some of the benefits that are funded by these taxes and managed by the Federal Reserve Board.
