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Social Security
Table of Content
•Definition
•Social Security-A government
Plan
•Benefits of Social Security
•Operations of Social Security
•Social Security Crisis
•More implications on social
security
Definition of Social Security
• Social Security is an initiative to protect the workers
from the retirement income crisis that strains the
standard of living. It follows the following scheme.
Social Security-A Government Plan
• USA government initiated a welfare program
in 1935 with the social insurance program
known as ‘Old-Age, Survivors and Disability
Insurance’.
• The scheme initiated by FDR Administration
covers almost fifty percent of the workforce.
• The scheme today covers almost all the
‘payroll’ worker, also the self employed.
Operations of social security
• After Great Depression, President Roosevelt,
started a welfare program to remove the
people above the economic gloom.
• A New Deal was signed and Social Security
Act was made law for the following
beneficiaries
•Over the years the
scheme has been
amended and
widened
Social Security Crisis
It has been reported that although 2042 every
beneficiaries can paid from the fund.
However, with the same scheme ,beyond this time
frame, it will be difficult to accommodate all the
beneficiaries.
Implication on Social Security
• There are certain reforms recommended by
the American Association of Retired Persons,
in 2015. These are
• Increase in the retirement age
• Longevity Index
• Cap on social security
Hey Friends,
This was just a summary on Social Security. For more
detailed information on this topic, please type the link
given below or copy it from the description of this PPT and
open it in a new browser window.
http://www.transtutors.com/homework-
help/economics/social-security.aspx

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Social Security | Eonomics

  • 1. Social Security Table of Content •Definition •Social Security-A government Plan •Benefits of Social Security •Operations of Social Security •Social Security Crisis •More implications on social security
  • 2. Definition of Social Security • Social Security is an initiative to protect the workers from the retirement income crisis that strains the standard of living. It follows the following scheme.
  • 3. Social Security-A Government Plan • USA government initiated a welfare program in 1935 with the social insurance program known as ‘Old-Age, Survivors and Disability Insurance’. • The scheme initiated by FDR Administration covers almost fifty percent of the workforce. • The scheme today covers almost all the ‘payroll’ worker, also the self employed.
  • 4. Operations of social security • After Great Depression, President Roosevelt, started a welfare program to remove the people above the economic gloom. • A New Deal was signed and Social Security Act was made law for the following beneficiaries •Over the years the scheme has been amended and widened
  • 5. Social Security Crisis It has been reported that although 2042 every beneficiaries can paid from the fund. However, with the same scheme ,beyond this time frame, it will be difficult to accommodate all the beneficiaries.
  • 6. Implication on Social Security • There are certain reforms recommended by the American Association of Retired Persons, in 2015. These are • Increase in the retirement age • Longevity Index • Cap on social security
  • 7. Hey Friends, This was just a summary on Social Security. For more detailed information on this topic, please type the link given below or copy it from the description of this PPT and open it in a new browser window. http://www.transtutors.com/homework- help/economics/social-security.aspx