Social Security was started on August 14, 1935 and was signed into effect by President Franklin Roosevelt. The program was initially called Social Security Board but in 1946 the SSB was lumped into a group of agencies along with the Public Health Services, Office of Education, Civilian Conservation Corps., and the U.S. Employment Service.

In 1953  President Eisenhower, abolished the SSB and created what is now the U.S. Department of Health, Education and Welfare and has basically remained the same to this day with organizational changes over the years to what is now the Social Security Administration (SSA).

For many American's Social Security is their basic financial security for retiree's, disabled, and/or families of deceased retirees or disabled persons. Social Security provides monthly income in a pay-as-you-go program. All workers pay into the system and beneficiaries receive those monies.

Some Interesting facts about Social Security:

One in four Americans receives Social Security benefits.

Full Retirement Age (FRA) is currently 66.

You can apply for SS benefits as early as 62 but receive a discounted amount.

Is Social Security going broke? No. It has 3 sources of income. 1) Payroll Taxes, 2) Income Taxes, and 3) Interest it earns on reserves of $2.7 Trillion in the trust fund.

What is Social Security?

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