Social Security History, Current Structure and Calculation of Benefits The Social Security Act was implemented in , after the stock market crash had wiped out the savings of millions of Americans, the nation reached out to their president to guarantee the elderly a decent income. The original Act provides retirement benefits payable to a person 65 years and older who were no longer working. There were very few people that had access to pension from their employers and through government pension. In 18 years, Social Security benefits could drop so that millions will not have the money to survive. On the other hand, it could not exist entirely.
The Social Security Act In Roosevelt's Second New Deal
Social Security Act Free Essay Sample
Please join StudyMode to read the full document. The article states that as a member of society, every individual has the right and claim to the social security. Therefore, individual is entitled to attain the social , cultural and economical rights. In simple words, signatories and participants concur that society should help individual in developing themselves and making most of the advantages with the help of authorities. Social security is defined as a particular social insurance program for retired and the immobilized persons.
The Social Security Act
Please join StudyMode to read the full document. Social Security Act SSA Franklin Delano Roosevelt Shortly after the Hoover Administration was out of the presidential office the next president to be elected would be walking into one of the worst situations one could think of. During the s Americans were forced to basically fend for themselves and save all that they possessed.
Roosevelt, created a program that included social insurance programs, as well as public assistance. Both programs came about due to the depression and were created as part of the New Deal to benefit the citizens who needed assistance. While both programs were created to assist the public, each program had different eligibility requirements and accomplished different tasks. Social insurance programs were designed to provide continuing income. Enacted in , the Preamble of the Social Security Act stated that it was: An act to provide for the general welfare by establishing a system of Federal old-age benefits, and by enabling the several States to make more adequate provision for aged persons, blind persons, dependent and crippled children, maternal and child welfare, public health, and the administration of their unemployment compensation laws Official Social Security Website, N.