Social Security: Federal Retirement System

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Recommended: Conclussion on origin and development of social security

2015-1

Social Security is the Federal retirement system. One could easily say it is the most popular of the government systems. President Roosevelt signed the Social Security Act on August 14th, 1935. The Act was designed as a social insurance program. An individuals retirement benefits were based entirely on the career earnings of the worker and was to provide income security to that worker when he or she retired. Over time the social security program expanded to include benefits for spouse, survivors, and disabled. Before this people relied on their life savings or others.
The social security funds are rapidly decreasing due to many reasons. The reason our social security funds are being depleted is that there has been rise in

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