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The 1939 Amendments transformed the very nature of the Social Security program. The Amendments created two new benefit categories under §202 of the Act: Payments to the spouse and children of a retired worker called dependents or family benefits , a provision of Old-Age Insurance.
As part of the 1939 Amendments, the Title VIII taxing provisions were taken out of the Social Security Act and placed in the Internal Revenue Code and renamed the Federal Insurance Contributions Act (FICA). Social Security payroll taxes are thus often referred to as "FICA taxes." Amendments of the 1950s and 60s
1939 - Social Security Amendments of 1939, Pub. L. Tooltip Public Law (United States) 76–379 1942 - Revenue Act of 1942 , Pub. L. Tooltip Public Law (United States) 77–753 1943 - Pub. L. Tooltip Public Law (United States) 78–211
John F. Kennedy. In 1961, JFK amended Social Security to allow workers to opt for early retirement at age 62 -- but only men. The amendments also increased the minimum monthly benefit and the ...
In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance ( OASDI) program and is administered by the Social Security Administration (SSA). [1] The Social Security Act was passed in 1935, [2] and the existing version of the Act, as amended, [3] encompasses several social welfare ...
The United States Social Security Administration ( SSA) [2] is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant ...
The current Social Security COLA projection for 2025 is 2.66%, according to the Senior Citizens League. TSCL updated its 2025 COLA prediction based on April’s CPI-W data, which came in at 3.4% ...
The Federal Security Agency (FSA) was established on July 1, 1939, under the Reorganization Act of 1939, P.L. 76–19. The objective was to bring together in one agency all federal programs in the fields of health, education, and social security. The first Federal Security Administrator was Paul V. McNutt.
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