Social Security Overview

Social Security is a federal program that provides financial support to U.S. citizens who are retired or disabled. Run by the Social Security Administration (SSA), the program’s technical name is Old Age, Survivors and Disability Insurance. It was created under the Social Security Act (1935) during the Great Depression when the majority of retirees were living in poverty. The goal of Social Security is to enforce social responsibility; the program taxes working individuals and gives the income to retirees and disabled individuals who have paid into the program.