80th Anniversary of Social Security!

Social Security Administration celebrated its 80 Anniversary on August 14, 2015. There are almost 60 million beneficiaries of SSA in the United States.

Phil Gambino, Assistant Deputy Commissioner of SSA stated that his agency [SSA] „will pay about $887 billion in Social Security benefits to almost 60 million people – or about a fifth of the American population”.

President Franklin Delano Roosevelt signed Social Security Act on 14 August 1935. Social Security became the crowning achievement of the New Deal. It has provided economic support for millions of Americans for last 80 years. There was a special celebration of SSA 80th Anniversary on Capital Hill. On July 23, Acting Commissioner of Social Security, Carolyn W. Colvin, hosted a 90-minute commemorative event on Capitol Hill, to highlight SSA history and to illuminate the agency future.

Four former Social Security commissioners joined Acting Commissioner Colvin at the event including JoAnne Barnhart, Kenneth Apfel, John Callahan, and Gwendolyn King.
The Acting Commissioner Colvin stated, “Our 80th anniversary gives us the opportunity to reflect on the incredible part our agency plays in the lives of millions of people – every day.”
She added that in fiscal year 2015, SSA will pay about $887 billion in Social Security benefits to almost 60 million people – or about a fifth of the American population.

During the discussion “the panelists reflected on the vital role Social Security has played in the financial security of American workers and their families over the last 80 years. The panel’s discussion emphasized the agency’s strong stewardship of the disability program, our award winning online services, and our efforts to educate the public about Social Security. A key message emerged – that Social Security is a part of the fabric of America and serves as basic protection to support working men and women, children, people with disabilities, and the elderly”.

There are many other events related to 80th Anniversary of Social Security. Many experts discuss the agency’s future and what makes the agency and program successful. There are many important questions like: How do we keep the promise of Social Security to future generations? And, what role should Social Security play in every family’s financial plan? These are complex questions.

Social Security, after 80 years, is proud, passionate, and driven toward excellence in serving the American people.

Logo: Courtesy of SSA