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.