Social Security

Marisa Schaldach

What is Social Security?

Social Security is a plan for economic security used Americans. When you work, you pay taxes into a fund that is saved for people when they retire, so they get money when they aren't making money directly. Before this plan was created, people were just expected to save each part of their paycheck until they retired, so this plan relieved people from worrying about having money after retirement.

Who Receives Social Secuirity

  • About 36 million retired workers
  • 2.9 million people that are the spouse or children of retired workers.
  • 6.3 million survivors of deceased workers
  • 4 million widowed women
  • 1.9 million children
  • 2.1 million children or spouses of disabled workers
  • etc.

History Behind Social Security

Social Security did not come into the United States until 1935. It was started because after the Civil War, many people had no money because the "breadwinners" of the family were injured or deceased from the war, so families were left with little to no income. On August 14th, 1935 President Roosevelt signed the Social Security Act , which gave retired workers over 65 income after retirement. At this time, there were many restrictions on Social Security and it was payed in one lump sum, overtime this stretched into monthly payments.

Social Security Cards

Social Security cards are assigned at birth, and have a specific number on them used to identify specific records. The number on the Social Security Card was added in 1936. It is a nine digit code, the first three numbers are the code of your birth location, the second two numbers identify your more specific location, and the last four numbers are a serial number.