Social Security Administration (SSA) is an agency of the federal government of the United States charged with administering the Social Security. The Social Security is a social insurance program that consists of retirement, disability, and survivors benefits. For a person to qualify for the program benefits, they must remit Social Security taxes. The employees' contributions determine all benefits. The SSA was established in August 14, 1935 as the Social Security Board. SSB was renamed to SSA in July 16, 1946. SSA was an independent agency when it was established, but in 1939, it became a sub-cabinet agency. It remained in this status until 1995 when it regained its independent status. The current commissioner for the SSA is Carolyn W. Colvin (Acting) who succeeded Michael J. Astrue. She was sworn in on February 14, 2013. Social Security is considered the largest social welfare program that constitutes of 37% of the United States government expenditure and 7% of GDP. Before the establishment of the Social Security Act, support for the elderly fell on states, towns and families.
Social Security current situation
The trust fund for Social Security is estimated to become exhausted in 2033 (Evans, Perdue and Phillips). This was the same prediction in the previous year. 59 million people receive Social Security benefits each year, and each day around 10,000 baby boomers are eligible. According to administration officials, if the trust funds are depleted they can pay three-fourths of the benefits from payroll taxes and other revenues. It is reported that the contributions made to the Social Security Trust Fund increased by $32 billion in 2013. The trustees are anticipating another surplus for 2014, which has allowed them to project some increases in Social Security benefits starting in 2015. This would increase the total reserves by end of 2014 to $2.8 trillion. The Social Security benefits...
Social Security Administration In 1935, Social Security was designed as a program to provide a safety net for those who are disabled and as supplemental retirement income. When it was first introduced, it was designed based upon the total amount of individual earnings during their career. As time went by, the program was expanded to include spouses, the children of those who are deceased and the disabled. These transformations meant that
This program was the SSA's initial responsibility and remains its largest single one, consuming 44% of the effort of its workforce. The Social Security Administration understands that it is fraught with faults. Its culpability is clear and the agency admits that it "did not do as good a job as we should have" when it came to monitoring SSI funds. In 1994 Commissioner Chater in her testimony before Congress acknowledged
Social Security Administration Strategic Plan Social Security Administration Written below is a prelude to Social Security Administration strategy plan. The prelude consists of size, history, location, reason for creation, core areas explored and other relevant roles. The plan is basically aimed at working along with examples taken from federal agencies and to assess the analytical thinking skills of students as well. Size/Locations: At present, what is the size of the organization? At present, it
Strategic Plan for the Social Security Administration social security administration is an institution created with the aim of ensuring that workers have a secure future when they retire. The organization pools funds from the people through the check-off system where the employees and other citizens are deducted some amount from their salary automatically. The practice was adopted when it was realized that some people encountered some problems when remitting the money.
115). Congress certainly has the sole right to enact the legislation with which administrative agencies must comply. Moreover, the Congress has an oversight function, and it can and does react when people respond negatively to administrative actions, as occurred in the SSI and disability review examples (Derthick, p.153). Of course, the Court system is the major overseer in the United States. Derthick maintains that courts and administrative agencies perform sufficiently
Social Security was instituted with the passage of the Social Security Act of 1935. It was signed into law by President Roosevelt as a means of providing a social safety net for retirees. The passage of Social Security occurred during the depths of the Great Depression. Prior to this, the concept of social security did not exist in the U.S. -- you either worked until you died, or you retired
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