A Short History of Social Security in the USA
- The Social Security Act was signed into law by President Roosevelt on August 14, 1935.
- In the 1960s the age when men were eligible for retirement benefits was lowered to 62 and health coverage was extended to Social Security beneficiaries aged 65 or older.
- One in six Americans (45 million) receives a Social Security benefit, almost 1 in 3 beneficiaries are not retirees.
- About 98% of all workers are in jobs covered by Social Security.
- In 1985 the Social Security Trust Funds were moved "off-budget" so that the funds earmarked for the Social Security ...