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Social Security's Birthday

August 15, 2023

On August 14, 1935, President Franklin D. Roosevelt signed the Social Security Act, making August 14, 2023, Social Security’s 88th “birthday”. In January 1937, Ernest Ackerman received a one-time, lump-sum payout in the amount of $0.17. (Lump sum payout was the only form of benefits paid from January 1937 – December 1939.) On January 31st, 1940, the first monthly benefit check was issued to Ida May Fuller, in the amount of $22.54.

This year, the Social Security Administration will administer more than $1.3 trillion in benefits and payments to more than 70 million beneficiaries. Beneficiaries include not only retirees, but also people with disabilities, dependents and families that lose a wage earner. 

Have you visited the Social Security website lately? Last December the administration launched their enhanced website at Sign up for a “my Social Security account” and access your retirement benefit estimates, apply for benefits and Medicare, check on your application status or get proof of benefits.

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