This essay talks about the most efficient run program in all state oriented activities in the United States - social security program which It is legally established in America’s constitution as the Social Security Act in 1935 and deals with the monitoring process of social welfares of its citizens…
The essay "The Social Security Program" talks about the social security program, the most efficient run program in all state oriented activities in the United States. Under the Social Security sector, aspects of pension income for the retirees, unemployment and fund assistance to the physically and financially challenged; are the major programs reflected. Involvement of insurance agencies and compensation companies and how they relate the persons mentioned above is also monitored by the Social Security program. The progress of these three aspect programs has undergone stiff completion. Maintenance and management of the pension income of the retired have been in the limelight of the actions of the Social Security. This has had success in ensuring the security of insurance and necessary compensation to the retirees over the years. This program has operated amidst its authoritative, incentive and capacitative techniques in order to offer quality services to the retirees. It is the first and main “Social Security” of America initiated initially for soldiers in 1776. Its vivid historical background of pension security is dated back to the era of civil wars whereby the retirees of the war were honored by paying them off a reduced amount from their original salaries. It was due to the fact that a lot of citizens were left orphaned and widowed by the dead war veterans. The pension fund has increased and broadened its wings to other professionals such as doctors, teachers among others. ...
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(The Social Security Program Essay Example | Topics and Well Written Essays - 250 Words)
“The Social Security Program Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.net/social-science/471981-the-social-security-program.
According to Feldstein (2005), the Social Security program of the United States is considered to be the largest program initiated by the government in the world, and it is the largest expenditure in the federal budget. This large-scale government program offers benefits to retirees, to the survivors and the disabled to ensure that they do not have to struggle to make ends meet.
One of these benefits as promised by the government is a pension after reaching the mandatory retirement age. The government agency tasked for this specific purpose is the Social Security Administration. The system is currently in a status wherein it somehow manages to pay off its financial obligations to its members however, the money being disbursed is not equivalent to the lifelong contributions that the members have been making.
I chose this topic for my paper because the Social Security System for his or her post-retirement income affects every person in the United States.
The social security system was originally founded as a program of social welfare in an effort to provide supplemental income for those individuals who are without work.
Social Security is a system of welfare wherein the current working generation contributes money which is used for the people who have now retired. When the present workers retire, they will be the beneficiaries and the contributions would be
The essay discusses the Social Security program, that is most notable in the US. It is stated that approximately two-thirds of the American population aged 62 and above depend heavily on Social Security payments for their incomes, with one among five of them depending solely on the payment as a source of livelihood.
The program started covering the disabled people in 1973. The program provides hospital insurance where the people enrolled are protected against huge medical costs. The program also offers supplementary medical insurance program whereby
Payroll taxes that comprise Federal Insurance Contributions Tax Act (FICA) and Self Employed Contributions Act (SECA) fund the US Social Security Program (Graebner, 2009). The taxes that contribute towards the social security program are collected
3 Pages(750 words)Essay
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