Social Security Administration Paper

Introduction

The purpose of this paper is to research the development and administration of U.S. Social Security program to gain a better understanding. This will help review the numerous changes the Social Security program has gone through and provide a view into the structure of program as it is today. This paper will also address how benefits are calculated and what other programs are available within the Social Security program.
History
In 1935, President Theodore Roosevelt made the Social Security act a law and the Social Security Administration was created. “Social Security is the foundation of economic security for millions of Americans—retirees, disabled persons, and families of retired, disabled or deceased workers. About 163 million
The main office is located in Baltimore, MD but they have 10 regional offices, 6 processing centers and 1,230 field offices.
-Pay Structure
Social Security receives tax funds paid by workers and employers at a rate of 6.2% each unless a worker is self-employed then the rate is 12.4%. The Social Security Administration takes the tax money and pays out benefits to
• People who have
It is an insurance provided to those who are 65 and older and qualify for the services. In some instances, people under 65 qualify if they have certain disabilities or kidney failure. The premiums for Medicare are taken out of social security checks and the Medicare program is funded by tax deductions from paychecks.
-Supplemental Security Income
The Supplemental Security Income (SSI) is funded by general tax revenues and is considered a supplement program. It is designed to help aged, blind, and disabled people, who have little or no income; and it provides cash to meet basic needs for food, clothing, and shelter (SSA.gov, n.d., para 2)”.

Summary
The Social Security Administration is responsible for serving the needs of disabled and retired American’s for many years. This program is vital and invaluable to those who require extra assistance. This program is not stable enough to provide undoubted financial security to those who use it. It would be beneficial to ensure the individuals have other sources of income