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The Social Security Administration was established by the Social Security Act of 1935 and is codified in 42 U.S.C. § 901 (49 Stat. 635). It was created in 1935 as the "Social Security Board", then assumed its present name in 1946.
Each year, the Social Security Administration (SSA) adjusts the amount of money that recipients receive in benefits, helping to account for factors such as inflation. Ideally, the adjustments give ...
The Social Security Administration introduced cost-of-living adjustments (COLAs) in 1975 to help benefits maintain their buying power amid rising inflation. In fact, since 2010, Social Security ...
A separate analysis from the Center on Budget and Policy Priorities found that the poverty rate for adults aged 65 and above would be nearly four times higher if Social Security didn't exist -- 10 ...
Data source: Social Security Administration. Average benefits are as of December 2023. Apart from age 68, which has an average benefit slightly higher than the average benefit for age 69, we see ...
The Social Security Administration produces a publication called "When to Start Receiving Retirement Benefits" that is designed to help individuals understand the issues involved in deciding when to begin benefits. [40] The Center for Retirement Research at Boston College produced a guide designed to help individuals make informed claiming ...
When the Social Security Administration (SSA) announced last October that benefits would only be rising by 2.5% in 2025, a lot of people were disappointed. And that's understandable since that 2.5 ...
The Social Security Administration (SSA) is the United States federal agency that administers Social Security, a social insurance program consisting of retirement, disability, and survivors' benefits. To qualify for these benefits, most American workers pay Social Security taxes on their earnings; future benefits are based on employee ...