Social Security Administration

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Social Security
The Social Security Administration runs Social Security. While Social Security is mostly known for retirement benefits, it also includes the provision of survivor benefits and disability income. Social Security is critical for catering for the needs of American workers in the event they are not in a position to work.
The history of Social Security dates back in the 1930s when President Franklin D. Roosevelt sought to implement a form of “social insurance” to cushion people during the Great Depression. The major aim was to mitigate unforeseen dangers like poverty, employment, age, and other similar events. Since that time, the provisions of Social Security have been changing to address needs and promote ‘equality’ and protection towards low-income workers.
Social Security is ideally an insurance program for workers. Through payroll withholding, workers pay into the program (United States Government). The money goes into Old-Age and Survivors Insurance (OASI) Trust Fund and Disability Insurance Trust Fund. Workers who have contributed for at least 10 years are eligible for early retirement at the age of 62 (Kagan). Workers with a normal retirement of 66 years will receive a 93....