The History Of Social Security And Social Security Administration

1452 words - 6 pages

Social Security and Social Security Administration
Michael Jones worked his whole life. At the age of 15 he started as a dishwasher at a restaurant a mile away from his house. He never graduated high school because he had to quit school to help his single mom support a family of six. There were many times in his life where he worked two jobs, but at minimum-wage, if that, 80 hours a week still did not go far. By the age of 20 he was married, and soon began to have a family of his own. Michael is a simple man but a hard workingman. Michael rarely took vacations, worked 60+ hours a week, and raised four daughters of his own. After about 25 years of marriage Michael and his wife divorced. Recently Michael turned 65, and against his desire to keep working, his doctor suggested that he retire, due to suffering from two heart attacks, one when he was 50, the other when he was 62. For 50 years Michael has worked many jobs, unfortunately, due to his limited education, he often worked minimum paying jobs. During the first half of this working life he was supporting his family, and Michael was only able to save for retirement after his children had graduated college. Only his latest employer offered pension plan. Now after working his whole life, Michael is left with $305 a month from his pension, and $742 from Social Security. Social Security has become his major source of sustainment. The Social Security Administration (SSA), has become a lifesaver for Michael and most retirees. This paper will attempt to answer how the Social Security Administration came to be, and what it does for the country and its hard working citizens. It will give a brief overview on the history of the administration; what statutes give the agency its authorities; what authorities it has; how it works, and how it can be improved.
What is Social Security?
Social Security is government system that provides monetary assistance to people with an inadequate or no income; it is a federal insurance program that provides for retirees, disabled, and dependents. Social Security is self-funded, every dollar the program uses for benefit payments administrative overhead and future investment comes from direct contributions of workers and employers (Landis, 2011, p. 19-22). Social Security is much more than a retirement program. It not only provides for individuals over the age of 62 who retire, it provides for workers under full retirement age who become totally disabled, but it also provides for surviving family members of workers who died at any age. It also provides benefits for family members of workers who retire or become disabled. Also under the Social Security Administration is Medicare, which provides health insurance for those retirees over the age of 65 and certain disabled persons and their dependents (Landis, 2011, p. 26-27). Without Social Security many American would not have the means necessary to support themselves or their families.
History and Enabling Statute of SSA
The...

Find Another Essay On The History of Social Security and Social Security Administration

MULTIPLE USER NETWORK ADMINISTRATION SECURITY Essay

8379 words - 34 pages MULTIPLE USER NETWORK ADMINISTRATION SECURITY Introduction This report explores the industry standard concepts and best practices including:         Authentication         Access control         Encryption         Data confidentiality         Data integrity         Auditing         Non-repudiation Authentication is the ability to verify the identity of a user, host or system process. Access control

The Future of Social Security Essay

744 words - 3 pages adjustments in the smallest increments can make the largest impacts on the system of Social Security. Young people and many others are convinced Social Security will not be there when they reach the retirement age. Some proclaim it will only become a monthly allowance from the government, not providing for all the needs one requires. After years of paying into the system, the return will be insubstantial for adequate living. Retirees will have to look

"The Same Agency, Different Name" Assignment: What are the Similarities in the Federal Civil Defense Administration and Office of Homeland Security, and why was it useless to create the new agency?

2062 words - 8 pages Administration (FCDA) and its duties as an office. The duty of this office, finding ways to protect the American people, can be directly compared to the creation and duties of the newly created Department of Homeland Security. President Bush explicitly spells out this new department's role through speeches and various white house documents. Both Paul Boyer's book and President Bush's speeches both present ideas of how to prepare for an attack

Privatization of Social Security

1639 words - 7 pages Market Influence Our Economy. n.d. . SSA. Social Security Administration. n.d. http://www.ssa.gov/history/hfaq.html. 27 January 2014. Trust, Northern. The Privatization of Social Security - Opportunities and Challenges. n.d. .

Privatization of Social Security

1601 words - 6 pages end up in poverty. Social Security was signed in as law on August 14, 1935 by President Franklin D. Roosevelt and was fully operating by 1940. Originally a retirement program, but Social Security now includes survivor benefits, disability benefits and Medicare and all together is the largest expenditure of the federal government. Evidence proves that today Social Security is not sustainable which is the reason that Social Security should be

Social Security: A Brief History

1414 words - 6 pages Almost every American adult citizen is aware of the Social Security Administration. Every payday, each working American has tax deduction for Social Security on their payroll stubs and these deductions are recorded on their W2 forms at the end of the year. If they have older parents or disabled family members, then they would be aware of Social Security Disability Income (SSDI) and/or Social Security Income (SSI). Many young people are not

Privatization of Social Security

1381 words - 6 pages Privatization of Social SecurityWhen people lease a car, they pay, knowing that they get something in return. When people pay taxes, they pay, knowing it's the law, and many get some money back. What do people think when they pay social security? Many young people see Social Security as something they are paying but will never get anything in return. What is another way for retirement for the United States?A major topic of retirement talk today

Privatization of Social Security - 1018 words

1018 words - 5 pages My Position Statement My position is that social security should not be privatized because the economic impact for individuals and the nation are enormous. Economic Argument against My Position A number of economists support privatization of social security ideology for a variety of reasons. First, there is a general argument that the social security is not an investment system (Estes 10). Thus, workers inject their money for a considerable

Social Security

1179 words - 5 pages Social Security      Social Security is a public program designed to provide income and services to individuals in the event of retirement, sickness, disability, death, or unemployment. In the United States, the word social security refers to the programs established in 1935 under the Social Security Act. Societies throughout history have devised ways to support people who cannot support themselves. In 1937 the

Social Security

2509 words - 10 pages Great Depression of the early 1930s, however, created widespread suffering causing the Federal government to take action, because states, local communities and private charities neither had the financial resources to cope with the growing needs of the American people. The administration of President Franklin D. Roosevelt responded to these pressures by signing the Social Security Act in 1935. In the long run, however, the old age insurance system

Social Security

1677 words - 7 pages your income as a tax into the social security system, at some point in the future either by retirement or disability you or your beneficiaries (dependents, children, or survivors) receive monthly benefits; based on your reported earnings (United States Government, 2014). As actuaries, policy makers, and the public are faced with the dilemma of a social security program which will be unable to meet its needs by 2038, the solution appears to be

Similar Essays

Crisis In The Social Security Administration

2354 words - 9 pages As an advocate for the Social Security Administration (SSA), I would like to suggest the following proposal for your examination and potential action. The SSA, one of Americas leading organization that serves to the benefit of the public, is undergoing a series of crises. The agency functions through a top-down system of authority. Although, at first this may seem as the best method of running such a large entity, in reality it creates a

Transportation Security Administration Essay

1746 words - 7 pages Chuck Goodwin explains, “TSA, which stands for Transportation Security Administration, is an agency in the Department of Homeland Security and is responsible for screening all travelers and their luggage, as well as the screening of all air and rail transportation in the US.” Many travelers know of the them for their increased presence in all airports in the U.S and other major American airports worldwide. After the terrorist attack that took

Balance In The Administration Of Justice And Security In The Workplace

2034 words - 8 pages Balance in Justice and Security PAGE \* MERGEFORMAT 8 Balance in the Administration of Justice and SecurityUniversity of PhoenixMSAS0BK988; CJA 550December 8, 2008Criminal Justice in the 21st CenturyNumerous legal issues influence the administration of justice and security in America. Key legislation has been passed that would historically be viewed unconstitutional. Legislation such as the U.S. Patriot Act remains a contentious issue. Balance

The Transportation Security Administration Is Ineffective

868 words - 4 pages Shortly after 9/11 twelve years ago, the federal government created the Transportation Security Administration (TSA) to protect air travel and prevent similar attacks. In 2012, the TSA had a budget of $8.1 billion, and while it claims to improve airport security, it fails to do so. Additionally, their checkpoints are privacy-invasive and cumbersome, negatively impacting the air travel industry. For these reasons, the agency should be abolished