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1956 - Social Security Amendments of 1956, Pub. L. 84–880; 1958 - Social Security Amendments of 1958, Pub. L. 85–840; 1960 - Social Security Amendments of 1960, Pub. L. 86–778; 1961 - Social Security Amendments of 1961, Pub. L. 87–64; 1965 - Social Security Amendments of 1965, Pub. L. 89–97; 1966 - Tax Adjustment Act of 1966, Pub. L ...
As part of the 1939 Amendments, the Title VIII taxing provisions were taken out of the Social Security Act and placed in the Internal Revenue Code and renamed the Federal Insurance Contributions Act (FICA). Social Security payroll taxes are thus often referred to as "FICA taxes."
Title VIII establishes a payroll tax used to fund Social Security. In the amendments of 1939, the tax was removed from the Social Security Act, placed in the Internal Revenue Code, and renamed the Federal Insurance Contributions Act. When Medicare was established in 1966, the FICA tax was increased to fund that program as well.
John F. Kennedy. In 1961, JFK amended Social Security to allow workers to opt for early retirement at age 62 — but only men. The amendments also increased the minimum monthly benefit and the ...
Historically, the FRA was age 65. The 1983 Amendments to the Social Security Act gradually increased the FRA and, for individuals born in 1960 or later, the FRA is 67. The early retirement age (age 62) has not changed, but the monthly benefit amount paid at the early retirement age is lower if a person has a higher FRA.
April 20 is the 40th anniversary of the 1983 Social Security Amendments, which President Ronald Reagan signed after the bipartisan Greenspan Commission made its recommendations for reform. Congress...
As people grow older, their incomes decline and their healthcare expenses grow. Before Social Security, indigence was a part of old age for millions of elderly Americans, who depended on their...
The Social Security debate in the ... The number of workers paying into the program was 5.1 per retiree in 1960; ... but "the 1939 amendments and subsequent ...