Benefits And Benefits Of Employee Benefits

On August 14, 1935 in Austin, Texas, President Franklin D. Roosevelt inked his signature on the Social Security Act. It was originally implemented to resolve problems with unemployment, old age insurance, and public health and welfare. The Great Depression was the catalyst for the creation of the Social Security program, and the basic structure was very similar to Germany’s social insurance programs from the 1880s. Today, social security is mostly used for retired senior citizens starting at the age of 62. At 62, American citizens can begin to collect, but will only receive 35% of their monthly benefit due, rather than the maximum amount of 50% when they reach the full retirement age of 66. (cite) In addition, social security is dispersed to about 14 million disabled people under the age of 62, who can no longer work in the labor force for various reasons. The people who qualify as disabled are just a small percentage of those collecting compared to senior citizens, and are often not mentioned when social security issues are brought up because of their minute effects on social security distribution.

The Social Security Act was signed by FDR on 8/14/35. Taxes were collected for the first time in January 1937 and the first one-time, lump-sum payments were made that same month. Regular ongoing monthly benefits started in January 1940... The term was first used in the U.S. by Abraham Epstein in connection with his group, the American Association for Social Security. Originally, the Social Security Act of 1935 was named the Economic Security Act, but this title was changed during Congressional consideration of the bill...Under the 1935 law, what we now think of as Social Security only paid retirement benefits to the primary

The first sets of provision to look at are those for the benefits of those of old-age. The social security act is supposed to provide income for those who have retired at an old age. One the provision for this was that Old-age benefits would be paid to all employees based upon the received wages when they were employed. However, this didn’t apply to those who were farmers, worked from home, people who worked on boat, employees of the government, employees of a carrier, and employees of a non-profit organization. In addition, in order to receive these benefits one has to be at least 65 years of age, could not have received less than 2,000 total wages after December 31st.1936, and before the age of 65 (Social Security , 2013).

The Social Security system is perhaps the most successful government social insurance program in the nation 's history; and began with the Social Security Act in 1935. Social Security is a needed federal system that encourages income stability to millions of people across the United States. This is accomplished by giving a stable flow of income to replenish lost wages that occur as a result of disability, retirement, or death of a family member. There are about 59 million people in the U.S. that receive Social Security. Most of them are the required 65 years of age or older. Sadly about half of the 59 million people rely solely on Social Security to pay their bills and everyday necessities.

Many young women were attracted to elderly veterans whose pensions they would receive once the veteran became deceased. The pension plan and the Social Security Act have similarities in regards to ushering out benefits to people that are in need. On the contrary the Social Security Act of 1935 created benefits for retired workers. Workers are eligible for Social Security once they reach the age of 65. At the time

Social security was created in response to the Great Depression. The purpose of it is to protect aged and disabled persons from illness expenses, to give children a chance to grow up healthy and secure, keep families together, and to augment the material needs of individuals and families. The Social Security Act was first passed in 1935 and later amended in 1956 to provide disability benefits. Some programs included under the Social Security Act are: retirement insurance, survivor’s insurance, disability insurance, and some public assistance and welfare services. The Social Security program is meant to provide benefits,social security numbers, and generate its own finances.

A landmark change in providing for the elderly came in 1935 with Franklin D. Roosevelt 's Social Security Act. While this provided aid to people with disabilities and mothers with children, aid was also mainly intended for the elderly. The premise of the act was that an individual would pay into the government through the years that they worked and upon retiring that person would receive benefits. Elderly Americans relied on this system to help pay for expenses that they might incur after they reached an age where they could no

Historically, unions have made major improvements in workers’ conditions and wages. There has been legislation in favor of support to unions and worker needs and there has been legislation to restrict union power. The Wagner Act, commonly referred to as the National Labor Relations Act, and the Taft-Hartley Act are two of the many laws created to balance union power. This paper will look at both Acts, the impacts they have had, and what changes could be made to make them more relevant to today’s society.

In 1935 the Social Security Act was established to provide Old Age Assistance and Old Age Survivors Insurance and in 1950, then President Truman, held the first of all National Conferences on Aging and the first federal social service programs were funded for the

The social security act was created by President Franklin D. Roosevelt so that he could put in place provisions in order to help the elderly. The social security act a document that helps impoverished citizens, such as the elderly and physically impaired receive benefits after retirement. Citizens’ in America during the great depression where expected to work weather elderly or physically disabled. These citizens weren’t afforded the financial stability to retire so work was a necessity to acquire money. “Prior to social security, the elderly routinely faced the prospect of poverty upon retirement” (U.S SSA). This effect of the great depression led to a lot death and homes turning into singled parent homes with no income. “The widespread

The eligibility of social security requirements varies depending on the situation. The specific eligibility requirements for Social Security benefits depend on the type of benefits, the age of the person filing the claim and, if the person is a dependent or survivor. To first be able to qualify for social security benefits, the individual must have worked in jobs that are covered by Social Security. The individual will pay into the system over the amount of times that they were employed. This means that the worker must have earned enough of what Social Security calls "work credits" by the time he or she claims retirement benefits. To be qualified for full retirement benefits, the individual must be in between the ages of 62 and 70 to start

The Social Security System Act was established in the year of 1935 not expecting the baby boomers to be born from the years 1946 through 1964. This is a dilemma because of declining birth rates and increased life expectancy, there are now only three age stratification workers for each beneficiary, and soon there will be only two because the elderly will retire. The system will not be able to support itself with such few workers to pay for so many beneficiaries.

Employee benefits are a tool used by businesses to attract potential applicants, improve employee satisfaction, reduce turnover and maintain competition. Benefits that most employers offer include, but are not limited to, medical and dental coverage, time away from work, retirement, and additional assistance during life changing events. The majority of employers in the United States offer benefits to their employees and include an annual enrollment yearly to select benefits and make any needed changes.

The legally required employee benefits constitute nearly a quarter of the benefits package that employers provide. These benefits include employer contributions to Social Security, unemployment insurance, and workers’ compensation insurance. Altogether such benefits represent about twenty-one and half percent of payroll costs.

The organization for which I am designing the compensation package is a company that offers internet solution to customers in the domestic US market and the global market. The position that I am hiring is that of a company secretary. The secretary will be required to work in the office of the human resource manager and will handle all the papered and paperless documentation. The position comes with numerous benefits and packages as outlined herein.