The Social Security Administration's mission was to provide financial assistance and insurance programs to retired and disabled individuals, as well as the dependents of deceased workers.
The Social Security Administration (SSA) is a government agency in the United States that was established in 1935 as part of the Social Security Act. Its primary mission is to provide financial assistance and insurance programs to retired and disabled individuals, as well as the dependents of deceased workers.
One of the key programs administered by the SSA is the Old-Age, Survivors, and Disability Insurance (OASDI) program, commonly known as Social Security. This program provides a form of insurance to eligible workers and their families, where they contribute a portion of their earnings through payroll taxes, and in return, they are entitled to benefits once they meet certain eligibility requirements.
Retired individuals who have paid into the program for a certain number of years are eligible to receive monthly retirement benefits. Disabled individuals who are unable to work due to a physical or mental impairment can also apply for Social Security Disability Insurance (SSDI), which provides monthly cash payments to help meet their basic needs.
The SSA also provides survivor benefits to the dependents of deceased workers. This includes monthly benefits for widows and widowers, as well as benefits for children and dependent parents.
In addition to these main programs, the SSA also administers the Supplemental Security Income (SSI) program. SSI is a needs-based program that provides financial assistance to aged, blind, and disabled individuals with limited income and resources, who do not qualify for Social Security benefits.
The SSA plays a crucial role in ensuring the financial security and well-being of millions of Americans. By providing income support to retired, disabled, and surviving individuals, it helps to mitigate the economic risks and uncertainties associated with old age, disability, and death.