One of the most large-scale and popular benefits programs run by the U.S. government is Social Security—yet few people really understand just what it is or the nuts and bolts of how it works.
In short, Social Security is a benefits program the federal government provides to eligible individuals that pays monthly benefits to retirees, older workers who meet certain income or age requirements, the disabled and their dependents, and the family of retired or deceased workers.
The Social Security Act was signed into law on August 14, 1935, by President Franklin D. Roosevelt. The program has been modified over the years, but the goal has remained the same: to provide financial support and security to eligible Americans.
Social Security ...