Social Security has now been part of the American social contract for nine decades. Enacted during President FDR’s first term (P.L. 74-271), the system requires employers and employees to contribute payments to those currently retired or unable to work due to a disability.

ProQuest Congressional , accessible with NYLI membership, has Ready-Made Topic Sections – including one on Social Security.

What we Americans know as Social Security has its roots in 19th Century Germany; Chancellor Otto von Bismarck established an old-age social insurance program in 1889.

Germany’s old age insurance policy mandated participation and set the retirement age at 70.

Laws change, and Social Security was quickly amended only 4 years after its initial passage to include payments to dependent benefits (spouse and minor children of the retiree) as well as survivor benefits.

Social Security & Medicare can be complicated …so you may want to consult this NOLO guide ..available @ NYLI.

Since the 1970s, legislators were aware of Social Security’s weakening financial position. In 1981, President Reagan and Congress appointed members to the “National Commission on Social Security .” Their report became the basis for the 1983 Social Security Amendments (P.L.98-21) which resolved the short-term financing problem and made many significant changes in Social Security law.

Social Security Trustees issue annual reports… click here for their latest as well as historical

Many reading this blog may wonder — will Social Security be around to celebrate it’s 100th Birthday? Full retirement age has increased over the years, as has the percentage paid by employer and employee. 90 year old Social Security does look different than its younger self, and statistics indicate that centenarian Social Security will have a few more wrinkles (and aches and pains) than it does currently….

Executive Order 12335 that created the National Commission on Social Security