Informative Essay On Social Security Benefits

On August 14, 1935 in Austin, Texas, President Franklin D. Roosevelt inked his signature on the Social Security Act. It was originally implemented to resolve problems with unemployment, old age insurance, and public health and welfare. The Great Depression was the catalyst for the creation of the Social Security program, and the basic structure was very similar to Germany’s social insurance programs from the 1880s. Today, social security is mostly used for retired senior citizens starting at the age of 62. At 62, American citizens can begin to collect, but will only receive 35% of their monthly benefit due, rather than the maximum amount of 50% when they reach the full retirement age of 66. (cite) In addition, social security is dispersed to about 14 million disabled people under the age of 62, who can no longer work in the labor force for various reasons. The people who qualify as disabled are just a small percentage of those collecting compared to senior citizens, and are often not mentioned when social security issues are brought up because of their minute effects on social security distribution.

The Social Security system is perhaps the most successful government social insurance program in the nation 's history; and began with the Social Security Act in 1935. Social Security is a needed federal system that encourages income stability to millions of people across the United States. This is accomplished by giving a stable flow of income to replenish lost wages that occur as a result of disability, retirement, or death of a family member. There are about 59 million people in the U.S. that receive Social Security. Most of them are the required 65 years of age or older. Sadly about half of the 59 million people rely solely on Social Security to pay their bills and everyday necessities.

The Social Security program is based on contributions that workers pay into the system. While you are working, a portion of

Hello to all those that want to retire one day. I would congratulate you, but at this very moment, one of most important government systems has a major problem. Today our country is stricken with a depleting social security fund, one that is predicted to run out in less than 20 years. In the past, every politician and leader has tried to push this widely underrated issue to next in line but ultimately causing more havoc on all of us. Throughout our country, many are unaware of the circumstances that will come from this catastrophe. Although I am still very young, one day I hope to enter the workforce and eventually retire, hopefully receiving the same benefits that those before me have received. Of course, I’m talking about Social Security, the federal insurance program that provides benefits to retired people and those who are unemployed or disabled. But as of now, this looks doubtful due to the already overwhelming amount of people who receive Social Security that is causing the system to divulge into its trust fund. The present Social Security issue is not one that an individual can change by him or herself but rather if we all work together and go to our legislators we will be able to solve this epidemic.

Our Social Security program mainly help out with older citizens and retirement but Social Security is more than just a retirement plan. The program helps families where a parent die and there is no type of income, a worker who has been disabled, and a dependent parent. If there were some type of circumstances in one home or life, they would be able to receive Social Security at any age. There is no doubt in my mind that we should save this program, no matter the cost, it helps out so many people in ways that we may not know of. Take some time and think about the world if this program had never been created and image how many people would be in poverty, unemployed, and old people who are not being able to pay for medicines or supply that they need. We should not change anything in the Social Security program until an crisis acquire, and when that day comes we will already know what to do to improve it by changing certain things in the

     Several federal agencies today support and administer the various Social Security programs. The programs associated with Social Security include Old-Age, Survivors, and Disability Insurance (OASDI), Medicare, Unemployment Compensation, and Supplemental Security Income (SSI). For people who have worked for a living, OASDI and Medicare provide support during their older years and when they have stopped working. Unemployment Compensation provides temporary financial help during periods between jobs. SSI provides income to people who cannot work for various reasons. The OASDI

America is fortunate to have benefits available to help retirees, the disabled, survivors, and dependents. The benefits are made up of taxes taken from the working class people and distributed by a circulation of calculations. In Joseph and Dorothy Matthews book Social Security, Medicare &

According to the definition, Social Security is a federal insurance program that provides benefits to retired people and those who are unemployed or disabled*( http://www.investopedia.com/terms/s/socialsecurity.asp). The concept of social security was first introduced by Francis Townsend; an American

Furthermore, in a decade Social Security recipients will face further denial of benefits, whether they are eligible or not due to the decrease of funding payouts. While currently eligible recipients fall short of receiving benefits and hire attorneys to battle for their money’s. Within a decade denial of benefits will become a more established problem with a greater failure rate, one of the main reasons why changes are in the making early.

portion of the retiree’s income. In order to provide these benefits to retirees a 6.2% tax

Social Security is a program is a way to make sure all Americans have a retirement and can be taken care of when they can no longer work at least that's what I was taught growing up but the more I look into it the more I think it will not be around its on the news that Social Security Is running out of money and that it might be privatized with all the information out there it is very hard to find out what is actually going on with a mandatory system

     There is much-heated debate on the issues of Social Security today. The Social Security system is the largest government program of income distribution in the United States. People are concerned that they won't see a dime of what they worked so hard to contribute into the Social Security system for so many years. Social Security provides benefits to about forty-three million Americans. Not only to retired workers, but also to their spouses and dependents of the workers who die prematurely. It also provides benefits to disabled workers and their dependents. Social Security appears to most people like a simple retirement saving’s account. After all, you generally

Social security, the federal retirement system, is one of the most popular government programs in United State?s history. Today, Social Security benefits are the backbone of the nation's retirement income system. The long road to the successful development of social security began in 1935. Before 1935, very few workers received job pensions. Those workers that were covered never received benefits because they were not guaranteed.

How Social Security functioned was a part of the workers check would be deducted and given to the elderly as "Social Security" at that present time. Then in turn when that person came of age to retire (generally 65) America's working force at the time would support them with a monthly check. Sometimes that check would coincide with how much they made when they were working but not always.

Planning for retirement should not be based on Social Security alone, but rather by saving portions of personal earned wages and putting finances into long-term investments. Depending on Social Security as the only income after retiring is an unsafe and undependable way to prepare for retirement. People who contribute to Social Security are mandatorily putting money into the Social Security Reserve; this money is used for older generations that will file for these benefits before the younger people working, in the early 21 century, ever receive a chance. Money controlled by other’s hands will never be a guarantee for a secure future, yet money saved by an individual to put toward personal goals will reward greatly. By taking the time to