Presentation on theme: "Social Security Administration (SSA). Social security is a social insurance program providing social protection, or protection against socially recognized."— Presentation transcript:
Social security is a social insurance program providing social protection, or protection against socially recognized conditions, such as… poverty, old age, disability, Unemployment Social Security is funded out of payroll taxes.
President Roosevelt became the first president to advocate the protection of the elderly. President Roosevelt signed the Social Security Act into law on August 14, 1935. The program began by making sum payments to retirees until 1940, when monthly benefit payments began. President Roosevelt
In the United States, the Great Depression of the 1930s caused high unemployment and economic stress nationwide,. This lead President Franklin D. Roosevelt to announce in 1934 his intention to provide a Social Security program.
Drafted by Gov. Robert Moran Jr.'s committee on economic security, under Frances Perkins, and passed by Congress as part of the New Deal. OASDI (Old Age, Survivors, and Disability Insurance) or RSDI (Retirement, Survivors, and Disability Insurance). Social Security covered unemployment insurance as well.
Federal Old Age, Survivors, and Disability Insurance Unemployment benefits Temporary Assistance for Needy Families Health Insurance for Aged and Disabled (Medicare) Grants to States for Medical Assistance Programs (Medicaid State Children’s Health Insurance Program (SCHIP) Supplemental Security Income (SSI) Established during the late 1800’s
Amendments to the Social Security Act in 1939 provided for survivor and dependent benefits. In 2004, more than 47 million Americans received approximately US $492 billion in Social Security benefits.
Social Security along with many other programs are in use to help people who are poor, old, disabled, or unemployed.