Social security provides the principal source of retirement income for the majority of people in the United States, this includes those who receive pensions through employer sponsored plans .
During the 1700`s and early 1800`s many people industrilized . This allowed people from rural areas to migrate to cites and work in factories . A majority of these people received low wages and had to work under treacherous conditions . Due to these extremely low wages people were unable to save for retirement . If any of these people were disabled on the job or even were fired from the job there families had to suffer greatly . So due to the industrial revolution social security insurance began in the United States . Social security was not developed in the United States though it was known before it began in the United States . Social security first became known in Europe.
Social security is a government program that pays retired people a certain amount of money. Social security is also called social insurance because it doesn't only cover retired people but also to disabled workers , to the families of workers who have retired , become disabled , or died ; and now also for medical expenses under Medicare .
Social security is nothing like public assistance because it pays it benefits to indiviuals and there families due to there work histories . There are three main parts to
social security , these three components are very important because you can only collect if you fall into one of these three parts . The three parts are (1) old age , survivors , disability ands hospital insurance (2) unemployment insurance (3) workers compensation . Although most Americans in the work force today are required to pay social security insurance not all are covered by it . Most civilian federal employees hired before 1984 are not covered by social security , some employees of state or local government are not covered by either program . All e... Continue Reading