Recent data from the Census Bureau shows that Social Security kept about 29 million Americans out of poverty in 2022. That means it had a greater impact than every other anti-poverty program combined. But Social Security also plays an important role in helping Americans finance their retirement. In fact, the vast majority of retired workers depend on benefits to some degree, according to Gallup.

Suffice to say Social Security matters a great deal to many people, especially seniors, yet people consistently score poorly when tested on their knowledge of the program. That is concerning because even small knowledge gaps can lead to costly mistakes when planning for retirement.

Here are three Social Security changes that took effect in 2024 that may surprise many Americans.

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Source Fool.com