Social Security Administration (SSA).  Social security is a social insurance program providing social protection, or protection against socially recognized.

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Presentation transcript:

Social Security Administration (SSA)

 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,  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.

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