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There had been a long practice beginning in the Roman empire to the modern nation states of providing pension to those who had served in the military. [2]Cotton Mather, the 18th century New England Puritan minister and author, proposed that elderly people should be "pleased with the retirement which you are dismissed into".
This trend continued throughout early American history, with much of the first veterans' pension under the newly formed United States offered to retired naval officers in 1799. [ 2 ] The United States Congress later created the Bureau of Pensions to oversee an increasing number of veterans' pensions in 1832 following the granting of pensions to ...
Mothers' pensions (Title IV) based entitlements on the presumption that mothers would be unemployed. [23] Historical discrimination in the system can also be seen with regard to Aid to Dependent Children. Since this money was allocated to the states to distribute, some localities assessed black families as needing less money than white families.
The Bureau of Pensions was an agency of the federal government of the United States which existed from 1832 to 1930. It originally administered pensions solely for military personnel. Pension duties were transferred to the United States Department of the Interior in 1849. The death of many pensioners in the early 1900s greatly reduced the ...
The Dependent and Disability Pension Act was passed by the United States Congress (26 Stat. 182) and signed into law by President Benjamin Harrison on June 27, 1890. The act provided pensions for all veterans who had served at least ninety days in the Union military or naval forces, were honorably discharged from service and were unable to perform manual labor, regardless of their financial ...
The Swedish social pension is administered by the Swedish Pensions Agency, and ensures a minimum level of pension for all residents. [24] It covers everyone who has worked or lived in Sweden. [25] The social pension consists of several different parts, such as the income pension, income pension complement, premium pension and guarantee pension ...
The Committee on Pensions was a standing committee of the United States Senate from 1816 to 1946, when the Legislative Reorganization Act of 1946 abolished it, moving its functions to the Committee on Finance.
It is important to distinguish between pension plan, funds and firm. A pension plan is a benefits program set up and sustained by an employer or an employee group. They are managed by state or private firms as well as pension funds. [6] Pension funds are financial mechanisms that provide retirement income for employees after their working life.