The Social Security program will undergo several important changes next year, some of which will impact benefits for retired workers.

Social Security benefits are often the most important source of income for retired workers. However, many Americans misunderstand aspects of the program, and knowledge gaps can lead to poor financial decisions.

For instance, surveys from DepositAccounts and the Nationwide Retirement Institute suggest most people aged 45 to 60 think Social Security will run out of funding in their lifetimes. But the program is primarily funded by payroll taxes, so it can't run out of funding unless all Americans stopped working.

Nevertheless, hundreds of thousands of workers claim retirement benefits as soon as possible (i.e., age 62) each year. Some choose this because

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