Retirees, spouses, and survivors of retirees, disabled workers, and their families can take advantage of the social security these days. The situation was not the same in the past. It has gone through several changes and after a lot of development this service has reached this position and many new changes will appear in this service in the future. For example, the Congress is now focusing on a new subject where it will only enable this service for those disabled workers that would successfully go through the Social Security disability program application process.
The changes are yet to be made so, the present receivers should not be worried about this situation. In this article, we’ll talk about the remarkable changes that social security has gone through over the past few decades. The Act was first created in 1935 and its main focus was to provide the benefits to those retired workers who became eligible at age 65. Click Here and see how social security has evolved over the past few decades.
The rules and regulations remained the same for a few years and the Congress decided to extend the benefits to the spouse and younger children in 1939. This step was highly appreciated by the locals and it brought a lot of amazing benefits. Then after a lot of discussions, the Congress decided to add the disabled workers in this category in 1954. This program also remained the same and then Congress decided to extend it to the families of disabled workers in the next few years. Here are some important points about how social security has evolved over time.
The legislation to create annual cost-of-living was passed by Congress in 1972. Throughout the time several changes were made to the age limitation for retirement and several arguments were raised against the different decision. Now, 66 years is considered to be the full retirement age in most of the states.
The disabled workers are not supposed to make any extra efforts to obtain these benefits. Once they are proved to be eligible for the social security, they would automatically start receiving the benefits. During the late 70s, the Congress went through several financial problems and it was not easy to deal with those problems.
However, Congress made several changes to its terms and conditions and successfully managed all the problems. The congress decided to reduce the benefits of retirees and disabled workers and it also increased the payroll tax to deal with the financial problems. These changes played an important role in solving these financial issues. These are the points that can help you take a look at how social security has evolved over time.