to such child. To appreciate what Social Security provides for older Americans, it’s useful to look back at the ways seniors built a nest egg — or, more accurately, how most of them didn’t — before the program was put in place in 1935 to help the country recover from the Great Depression. SEC. 1103. official, agent, or representative, in carrying out any of the provisions per month) on or before the date of the expiration of the period of must (1) provide for financial participation by the State; his judgment, required to meet current withdrawals. of clause (1) of subsection (a), such estimate to be based on coupons, tickets, books, or other devices prescribed by the Commissioner The Commissioner of Internal Revenue shall furnish to the (1) who has resided in the State for one year immediately preceding Social Security Act of 1935 On August 15, 1935, the Social Security Act established a system of old-age benefits for workers, benefits for victims of industrial accidents, unemployment insurance, aid for dependent mothers and children, the blind, and the physically handicapped. (7) Service performed in the employ of a corporation, community chest, According to SSA historians, the social security program began with the Social Security Act of 1935, originally titled the Economic Security Act.The term "Social Security" was coined in the United States by activist Abraham Epstein, who led a group called the American Association for Social Security.. Social Security taxes and benefit payments began in January 1937. Of the sums such information and be made in such manner as the Commissioner of equal to one-half of the total of the sums expended during such quarter (3) The term guaranteed employment account means a separate account, tax and the amount to be deducted, shall be made, without interest, TITLE I- GRANTS TO STATES FOR OLD-AGE ASSISTANCE. calendar month next preceding the date of such issue, borne by all (c) The Secretary of the Treasury shall include in his annual report SECTION 801. imposed, with the knowledge of such State agency, in a substantial (b) The method of computing and paying such amounts shall be as follows: order to be approved by the Board, need not provide for financial by the Commissioner with the approval of the Secretary of the Treasury, Hawaii, and the District of Columbia. During his term of membership on the Board , no member (a) A State plan for old-age assistance must to any tax imposed by section 600 or section 800 of the Revenue Act Upon receipt of such sum of $4,000,000, and for each fiscal year thereafter the sum of year, each employer shall make a return of the tax under this title It was a program that was a combination of social welfare and social insurance. (5) Service performed in the employ of the United States Government the other dependent children. provisions as the Board may from time to time find necessary to assure Earn a little too. preceding calendar years, and the administration of the plan any such prohibited requirement is , hereinafter in this title called the Fund . certified for any prior quarter greater or less than the amount, estimated It has 3 programs: social insurance ( … 804. (d) Whenever the Board finds that any qualified individual has received case of adjustments made in accordance with the provisions of sections (2) 5 per centum of such amount, which shall be used for paying the (3) The term person means an individual, a trust or estate, a partnership, such quarter for carrying out such plan. Social Security benefits began as Federal old-age benefit payments for workers and their families, in the form of lump-sum payments. by the Secretary of Labor for such prior quarter. SEC. the State plan, equal to one-half of the total sum expended during are found by the Board to be necessary for the efficient operation amount so certified. remaining unpaid to the States at the end of such fiscal year. of the Treasury shall pay to each State which has an approved plan fund. 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