![]() ![]() It then proposed a social security program that could help people who were retired, disabled, widowed, or unemployed. In June 1934, President Roosevelt had created the Commission on Economic Security, which studied economic security, social insurance, and long-term relief programs. With high rates of poverty among the elderly, many people felt the government needed to do something to protect its citizens. On August 14, 1935, President Franklin Roosevelt signed the Social Security Act, which established a Social Security Board to coordinate the payment of old-age benefits to Americans over the age of 65.Īfter the crash of the stock market in 1929, the United States sunk into the Great Depression. ![]() The act guarantees pensions to Americans over the age of 65, establishes a system of unemployment insurance, and assists states in aiding dependent children, the blind, and the aged who do not already qualify for Social Security. ![]() FDR signs the Social Security Act, which establishes the Social Security Board (SSB), one of the most far-reaching pieces of legislation in the country's history. ![]()
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