Yes, you read that right. 85 years ago, today, President Franklin D. Roosevelt singed the Social Security Act into law. President Roosevelt felt strongly that our country needed a social safety net that would provide income to elderly workers who could not continue earning a living after a lifetime of work. Two years went by and with the integration of the 1937 payroll tax, revenue was generated for those first, retired Americans. The program has run, without interruption for over 80 years now.
In 1956, President Dwight Eisenhower saw the need to add coverage for disabled Americans under the umbrella of the Social Security program. Therefore, he signed into law protection for survivors and the disabled.
The next big change came in 1975. This change was called the “COLAs”. The COLAs allow for periodic raises to Social Security benefits in order to ensure that they are rising in line with inflation.
Most Americans will draw some form of Social Security benefits sometime in their lifetime. It’s amazing to think that this plan provides for long-term disability coverage for over 89% of the American workforce. In addition, it provides survivors insurance coverage to over 95% of the children of working Americans between the ages of 20 and 49.
Social Security is just another reason that I love this great country. So, from all of us here at Christina Miller & Associates Disability Firm, Happy Birthday Social Security!
As always, we proudly serve the Vacaville, Fairfield, Vallejo and surrounding areas of Solano County to answer your Social Security questions and represent you in claims and appeals concerning disability benefits. Let our years of knowledge guide you to the answers in this diverse benefit program.