The Social Security Act is a law enacted in 1935 in the USA to create a system of transfer payments in which younger, working people support older, retired people.Passed during the administration of President Franklin D. Roosevelt, the Social Security Act established old-age benefits for workers and benefits for the jobless, as well as aid for dependent mothers and children, victims of work-related accidents, the blind, and physically disabled.
Roosevelt presented the plan in early 1935 and signed the Social Security Act into law on August 14, 1935.
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