History
The president that created the Social Security Act on August 14, 1935
Roosevelt
When your Social Security number is assigned to you
At birth
This is obtained to assist with medical care for the elderly
Medicare
62
The amount of your paycheck YOU pay into social security yearly
6.2%
Why Social Security was created
Address problems of economic insecurity during Great Depression
The social security number is composed of this many numbers
9 numbers: 4 serial numbers + 2-digit birth indicator + 3-digit number indicating geographic location
Something that is used to track amount of time worked
Credits
You need to have a ________ or be ______ to get benefits before 62
Disability, blind
The amount of your paycheck your employer pays into social security yearly
6.2%
The date of the first paid Social Security benefit
1940
The number works to keep track of this
Keeps track of earnings to determine how much Social Security benefits one can obtain
Benefits can be paid to those over this age
62
You need to be a ____ of the United States to get social security benefits
citizen
The amount you pay into social security if you are self employed
12.4%
The person who first proposed the idea of Social Security
Thomas Paine
The numbering system was created for this reason
Name and address ineffective, fingerprints associated with criminals. Thus, numbering system created
Benefits are available once you have this many credits
40 credits
This is what will happen to your monthly earnings if you wait longer to retire
Your monthly earnings will increase
This will eventually happen to Social Security trust funds
Depletion