aug 1, 1935 - Social Security Act
Description:
"FDR signs into law the Social Security Act, the most enduring piece of New Deal legislation. The Social Security Board, established by the act, manages payment of old-age benefits, which are determined by the amount of money a worker earns prior to age 65. A Social Security tax on wages provides funds from which the benefits are paid." 1Source:
1. Axelrod A. 1001 Events That Made America. Washington, DC: National Geographic; 2006.
Added to timeline:
Date:
aug 1, 1935
Now
~ 90 years ago