Social Security system in the United Sates. The History and what it is like today.

SOCIAL SECURITY "Social security is a government program that helps workers and retired workers and their families achieve a degree of economic security. Social security, also called social insurance, provides cash payments to help replace income lost as a result of retirement, unemployment, disability, or death" (Haydock, 2002) . In this paper we will take a closer look at The United States Social Security System. The social security in the United States has three parts. The first …

…million people receive such benefits, Social Security has grown steadily. And Social Security benefits provide income security not just to the elderly. Nearly 1 in 3 beneficiaries are not retirees. "The Social Security program provides needed income support to over 6 million recipients, 31% of whom are aged individuals; 56% disabled adults; and 13% disabled children"(Social Security, www.governmentguide.com) . Social Security Benefit Increases 1950-1999 Effective Date Percent Increase Effective Date Percent Increase 9/50 77.0 12/84 3.5 9/52 12.5 12/85 3.1 9/54 13.0 12/86 1.3 1/59 7.0 12/87 4.2 1/65 7.0 12/88 4.0 2/68 13.0 12/89 4.7 1/70 15.0 12/90 5.4 1/71 10.0 12/91 3.7 9/72 20.0 12/92 3.0 3/74 7.0 12/93 2.6 6/74 11.0 12/94 2.8 6/75 8.0 12/95 2.6 6/76 6.4 12/96 2.9 6/77 5.9 12/97 2.1 6/78 6.5 12/98 1.3 6/79 9.9 12/99 2.5 6/80 14.3 12/00 3.5 6/81 11.2 12/01 2.6 6/82 7.4 12/02 1.4 12/83 3.5 Notes: CHART FOUND AT www.governmentguide.com