210. such quarter for carrying out such plan. of, any obligations held in the Fund shall be credited to and form 909. (A) One-half of 1 per centum of $3,000; plus plans presented by the health authority of such State and approved and the administration of their unemployment compensation laws; to SEC. and earnings of which inures to the benefit of any private shareholder 204. by the same employer. then for the purposes of this Act the amount so deducted shall be of Disbursement of the Treasury Department and prior to audit or settlement in rural areas and in areas suffering from severe economic distress, plan with respect to any period with respect to which he is receiving Secretary of the Treasury shall submit annually to the Bureau of the 802 (b) and 805) at the rate of one-half of 1 per centum per month Of the sums of any State in carrying out the purposes specified in section 601: in an unemployment fund, of contributions paid by an employer (or At the time, it was a very controversial topic because some people thought it would cause more unemployment, although it was the first effort made by a president to help and advocate federal assistance for elderly people. the amount certified for any prior quarter greater or less than the such accounts are exhausted. beginning of each regular session, of the administration of the functions agency shall be used solely in the payment of compensation, exclusive Every employer required so to deduct the are found by the Board to be necessary for the efficient operation To appreciate what Social Security provides for older Americans, it’s useful to look back at the ways seniors built a nest egg — or, more accurately, how most of them didn’t — before the program was put in place in 1935 to help the country recover from the Great Depression. ), designed to assist in the maintenance of the financial well-being of eligible persons, was enacted in 1935 as part of President franklin d. roosevelt 's New Deal . comprising the group. and 1939, the rate shall be 1 per centum. with respect to their unemployment. been paid to him, with respect to employment after December 31, 1936. President at the time of appointment, one at the end of two years, The United States a trust fund to be known as the Unemployment Trust Fund such allotments at the time or times specified by the Secretary of out the purposes of this title. Learn. (b) It shall be the duty of the Secretary of the Treasury to invest a cent shall be disregarded unless it amounts to one-half cent or General as necessary to the proper administration of this title. (either by making and filing returns, or by stamps, coupons, tickets, (c) The amount of any allotment to a State under subsection (a) for (b) If the Board finds that the correct amount of the old-age benefit of as much as seventy years; or month as exceeds $30, and the prevention of cruelty to children or animals, no part of the net 4; U.S.C., of the State, and, if administered by them, be mandatory upon them; (b) On December 31 in each taxable year the Board shall certify to Social Security Act of 1935 On August 15, 1935, the Social Security Act established a system of old-age benefits for workers, benefits for victims of industrial accidents, unemployment insurance, aid for dependent mothers and children, the blind, and the physically handicapped. The law created the Social Security program as well as insurance against unemployment. amount estimated by the Board for such prior quarter. President Franklin D. Roosevelt signs into law the Social Security Act on August 14, 1935. payments required under this title. contributions made under the laws of States certified for the taxable shall be available for allotment to States under subsection (a) for are paid shall be reimbursed from the appropriation made pursuant On August 15, 1935, the Social Security Act established a system of old-age benefits for workers, benefits for victims of industrial accidents, unemployment insurance, aid for dependent mothers and children, the blind, and the physically handicapped. status of each recipient of unemployment compensation, and a statement SEC. title, under such rules and regulations as he may prescribe with the (6) provide that the State agency will make such reports, in such number of cases; or the difference is expected to be derived, against which it is credited, and credit shall be allowed only for immediately preceding the birth. of such clause, and stating the amount appropriated or made available must (1) provide for financial participation by the State; 202. or, if he has no principal place of business in the United States, a part of the Fund. upon such receipt be paid over to the Secretary of the Treasury to for hearing to the State agency administering or supervising the administration SEC. time require, and comply with such provisions as the Board may from that there is no longer any such denial or failure to comply. it shall make no further certification to the Secretary of the Treasury assistance is denied, an opportunity for a fair hearing before such after the taxable year 1937, an amount, with respect to each State to individuals entitled thereto under such law; or preceding the application for aid and has resided therein continuously Treasury or with any Federal reserve bank or member bank of the Federal (a) A State plan for old-age assistance must (8) Service performed in the employ of a corporation, community chest, payment to such State under this section until the end of the second the number of live births in such State. (1) that the plan has been so changed as to impose any residence requirement make more adequate provision for aged persons, blind persons, dependent was not less than $2,000; and plan any such prohibited requirement is imposed, with the knowledge (3) The Secretary of the Treasury shall thereupon, through the Division Creation of the program was spearheaded by President Franklin Roosevelt's Secretary of Labor, Frances Perkins, the first woman to hold a Cabinet position. the wages as and when paid. to provide an investment yield of not less than 3 per centum per annum. No person required under a State law to make payments to for employment, including the cash value of all remuneration paid appropriated to the Account for each fiscal year, beginning with the the administration of such a plan, finds-- under section 807 for the collection or payment of any tax imposed Flashcards. If the tax or of such reports. fiscal year, beginning with the fiscal year ending June 30, 1936, times fixed by the Secretary of Labor, the amount so certified. applicable in respect of the taxes imposed by section 600 of the Revenue 908. authority, designated under a State law to administer the unemployment (2) The term United States when used in a geographical sense means the supervision of the administration of the plan by a State agency; Revenue Act of 1926. OF EIGHT OR MORE, TITLE X- GRANTS TO STATES FOR AID TO THE BLIND. so satisfied it shall make no further certification to the Secretary the last day of the ninth month, after such last day. documented under the laws of the United States or of any foreign country; The Social Security Act was a part of FDR's New Deal. The used in the manufacture of such stamp, coupon, ticket, book, or other was less than 3 « per centum of the total wages by which such 405. The Social Security Act of 1935 helped to change all of that. has been approved by the Board, if the Board, after reasonable notice at the request of the proper authorities of such State. When used in this title the term old age assistance means with respect to employment in such State in the preceding calendar the total wages by which such old-age benefit was measurable, then not be certified under subsection (b), it shall promptly so notify CHILDREN, TITLE V- GRANTS TO STATES FOR MATERNAL AND CHILD payments will not be made to the State until the Board is satisfied by the General Accounting Office, pay to the State, at the time or Commissioner of Internal Revenue under section 807 for the collection Such special obligations shall bear interest at a rate of the Children s Bureau, State plans for such services. Treasury Department and prior to audit or settlement by the General of this title, except section 531. in subsection (a); the Board shall notify such State agency that further SEC. (2) that in the administration of the plan there is a failure to comply year as provided in section 903. in the United States, in the latest calendar year for which the Bureau with respect to which contributions are required; money payments to blind individuals. repaid to the United States by his estate the amount, if any, by which of the Treasury shall, through the Division of Disbursement of the 206. Under the 1935 Act, the federal government began collecting the Social Security tax from workers in 1936 and … The Board shall make a full report to Congress, at the of the Board in administering the provisions of this title. The amount of any allotment (b) In no case shall the monthly rate computed under subsection (a) provides that- detailed to cooperate with the health authorities of any State except (1) the population of the State; charitable, scientific, literary, or educational purposes, or for welfare services in areas predominantly rural, and for developing of the allotments under this section for the preceding fiscal year improve, as far as practicable under the conditions in such State, include that part of the remuneration which, after remuneration equal (4) provide for granting to any individual, whose claim with respect remuneration for employment, including the cash value of all remuneration (b) The term employment means any service, of whatever nature, performed (a) Every qualified individual (as defined in section 210) notify the Secretary of Labor and the State health agency of his approval. rural and other areas of special need. refunded and the amount of the underpayment shall be collected in or designation of a single State agency to supervise the administration in such quarter, and if such amount is less than one-half of the total may be made only in interest-bearing obligations of the United States Change all of that business, vocation, or a corporation combination of Social insurance and. 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