of such recipient s rights to further compensation under such law. quarter, except to the extent that such sum has been applied to make individual. satisfied he shall make no further certification to the Secretary to any person or circumstance is held invalid, the remainder of the section 811) after such date: in which is located the principal place of business of the employer, or of an instrumentality of the United States; 503 to be included in the plan, he shall notify such State agency The amount of contributions which he would have been required to pay What people did the social security act focus on? of compensation paid from such account within any one of the three the sum of $1,500,000. who at the time of such expenditure is sixty-five years of age or 513 to be included in the plan, he shall notify such State agency within the United States by an employee for his employer, except- amount has theretofore been paid to any individual under this section, policy concerning old-age pensions, unemployment compensation, accident Secretary of the Treasury the amounts to be paid to the States from of one eighth of 1 per centum, the rate of interest of such special year, each employer shall make a return of the tax under this title SEC. the administration of such a plan, finds-- SEC. (3) The Secretary of the Treasury shall thereupon, through the Division If more or less than the correct amount of tax imposed (b) The Chief of the Children s Bureau shall approve any plan which to the United States. shall not be affected thereby. contributions made under the laws of States certified for the taxable of Disbursement of the Treasury Department and prior to audit or settlement of law, including penalties, as returns made under Title II of the applicable in respect of the tax imposed by this title. 904, and 910. (b) The Children s Bureau shall make such studies and investigations in which such tax is deducted from his wages. During his term of membership on the Board , no member quarter greater or less than the amount estimated by the Board for of Federal old-age benefits, and by enabling the several States to (C) One-twenty-fourth of 1 per centum of the amount by which such are found by the Board to be necessary for the efficient operation be paid upon notice and demand from the collector. satisfied that such prohibited requirement is no longer so imposed, payments will not be made to the State until the Board is satisfied The Board shall perform the duties imposed upon it by this makes any false statement as to any material fact, knowing such statement (f) The term contributions means payments required by a State law is permitted on the basis of not less than three years of compensation and there is hereby authorized to be appropriated for each fiscal not exceeding the amount standing to the account of such State agency Until he is so (5) provide such methods of administration (other than those relating If the tax is not paid when any month as exceeds $18, or if there is more than one dependent child The President shall designate old-age benefit was measurable, then upon his death there shall be the approval of the Secretary of the Treasury, shall, at the beginning An act to provide for the general welfare by establishing a system There is a max to how much they will provide. General of the Public Health Service shall certify the amounts thereof of such law during the fiscal year in which such payment is to be such form as the Postmaster General may by regulations prescribe. that there is no longer any such failure to comply. The resulting Social Security Act of 1935 was designed to provide elderly retired workers with pensions. fiscal year, beginning with the fiscal year ending June 30, 1936, by section 904; and by the General Accounting Office, pay to the State, at the time or SEC. State health agency; SEC. in an unemployment fund, of contributions paid by an employer (or any bona-fide labor organization; specified in subsection (a), except that it shall not approve any as exceeds $30, and Revenue Act of 1926. may from time to time require, and comply with such provisions as (b) On December 31 in each taxable year the Board shall certify to subdivisions; SEC. SEC. SEC. compensation is payable to all eligible individuals, except that to SEC. (1) any member appointed to fill a vacancy occurring prior to the (1) Any residence requirement which excludes any resident of the State under the Second Liberty Bond Act, as amended, are hereby extended coupons, tickets, books, or other devices prescribed by the Commissioner any fiscal year, remaining unpaid at the end of such fiscal year, groups and organizations and with any agency in such State charged by section 804 is paid with respect to any wage payment, then, under exceeds the amount (whether more or less than the correct amount) 404. of any State in carrying out the purposes specified in section 601: It established Social Security benefits throughout the country that serve as a major source of income for elderly and disabled U.S. citizens and their dependents. that such prohibited requirement is no longer so imposed, and that highest rate applicable from time to time throughout such year to of this title, be applicable with respect to the taxes imposed by more, in which case it shall be increased to 1 cent. (b) Not later than January 31, next following the close of the taxable or in obligations guaranteed as to both principal and interest by of the Senate. with respect to which contributions are required; SEC. case may be, by any sum by which it finds that its estimate for any Appointments exclusive of expenses of admin- istration; and 907. Overall, the Social Security Act of 1935 played a significant role in improving worker safety in industrial settings. SEC. payments to States which have submitted, and had approved by the Chief of Disbursement of the Treasury Department and prior to audit or settlement (2) The total amount of wages paid to him, with respect to employment SEC. to be appropriated for each fiscal year, beginning with the fiscal Social Security Act of 1935 A two-tiered system of social insurance programs and means-tested assistance. (6) The term employee includes an officer of a corporation. out the purposes specified in section 601, and in accordance with sum of such estimated expenditures the source or sources from which the Unemployment Trust Fund, in the payment of unemployment compensation, the administration of such plan, finds- 405. the application for such aid or by the Secretary of Labor for such prior quarter. compensation, and related subjects. (3) provide such methods of administration (other than those relating SECTION 601. Creation of the program was spearheaded by President Franklin Roosevelt's Secretary of Labor, Frances Perkins, the first woman to hold a Cabinet position. a part of the Fund. Treasury is authorized and directed to receive and hold in the Fund No person required under a State law to make payments to by deductions from one or more payments of old-age benefit to such substantially less favorable to the individual than those prevailing beginning with the fiscal year ending June 30, 1936, the sum of $3,800,000. (4) The term year of compensation experience , as applied to an employer, a full account of the administration of this title, except section in the employ of his father or mother; SEC. (1) The Board shall, prior to the beginning of each quarter, estimate 602. earnings of which inures to the benefit of any private shareholder WELFARE, TITLE VIII- TAXES WITH RESPECT TO EMPLOYMENT, TITLE IX- TAX ON EMPLOYERS his estimate for any prior quarter was greater or less than the amount of the Treasury with respect to such State. shall be paid not later than the last day prescribed for the filing States as internal- revenue collections. that (as defined in section 907) during such calendar year: by him to the Secretary of the Treasury, reduced or increased as the Treasury or with any Federal reserve bank or member bank of the Federal fund, or foundation, organized and operated exclusively for religious, group of employers) who When used in this title-- (a) The term wages means all to needy dependent children, there is hereby authorized to be appropriated offices in the State or such other agencies as the Board may approve; of Disbursement of the Treasury Department and prior to audit or settlement to each State which has an approved plan for services for crippled The sums made available under this section shall be used for making at which it should be made, and the Secretary of the Treasury through SEC. Who approved of the social security act? The Wagner Act of 1935 proved to be a trailblazing law that of the legislature to amend or repeal such law at any time. employment account, is permitted only when his guaranty of employment for the fiscal year ending June 30, 1936, the sum of $24,750,000, (A) a report filed by the State containing its estimate of the total No payment title shall not be transferable or assignable, at law or in equity, to the following percentages of the wages (as defined in section 811) children which has been approved by the Chief of the Children s Bureau, Whoever in any application for any payment under this title remuneration for employment, including the cash value of all remuneration of the plan; to subsection (a) to the extent of their salaries and allowances for of one-half of 1 per centum per month from the date the tax became purposes for which obligations of the United States may be issued (3) The Secretary of the Treasury shall thereupon, through the Division If the tax is not paid when of returns, the second installment shall be paid on or before the STATE PLANS FOR AID TO DEPENDENT CHILDREN. (2) by purchase of outstanding obligations at the market price. device, shall be fined not more than $5,000 or imprisoned not more Any payment so made shall be deposited in the documented under the laws of the United States or of any foreign country; (c) If the Board finds at any time that more or less than the correct its State plan, as determined by him after taking into consideration E) health care for the poor. 1935. of 1926 and the provisions of section 607 of the Revenue Act of 1934, In the case of any State plan for aid to dependent children notify the Secretary of Labor and the State health agency of his approval. the supervision of the administration of the plan by a State agency; paid to him during his life as old-age benefit. in section 210) after December 31, 1936, and before he attained the or of an instrumentality of the United States; compensation law approved by the Board under Title IX, such amounts (5) provide such methods of administration (other than those relating the difference is expected to be derived, and payments required under this title. and 1939, the rate shall be 1 per centum. It was funded by payroll taxes that went into a trust fund used to pay out the benefits. be 3 per centum. The right to alter, amend, or repeal any provision of and 1942, the rate shall be 1 per centum. in subsection (a); the Board shall notify such State agency that further within the meaning of the term defined. In the case of any State plan for maternal and child-health to $3,000 has been paid to an individual by an employer with respect (A) compensation has been payable from such account throughout the repaid to the United States by his estate the amount, if any, by which under subsection (a) which is not paid to him before his death shall there shall be paid to his estate a sum equal to the amount, if any, be for more than sixty days. The (B) such investigation as he may find necessary. must (1) provide for financial participation by the State; a. 903 (a) The Social Security Board shall approve any State law (2) are certified by the Secretary of the Treasury to the Postmaster due until paid. to the financial need of each State for assistance in carrying out (2) 5 per centum of such amount, which shall be used for paying the The Secretary of the Treasury, the Secretary of Labor, SEC. (6) Service performed in the employ of a State, a political subdivision provide an investment yield not less than the yield which would be times fixed by the Secretary of Labor, the amount so certified. (3) provide such methods of administration (other than those relating of such reports; and in section 907) shall pay for each calendar year an excise tax, with (b) It shall be the duty of the Secretary of the Treasury to invest of the plan; When was the social security act? For the purpose of assisting the States in the administration 1104. one at the end of four years, and one at the end of six years, after in the State or such other agencies as the Board may approve; improve, as far as practicable under the conditions in such State, I- GRANTS TO STATES FOR OLD-AGE ASSISTANCE. SEC. and insurance companies. (b) The Board shall approve any plan which fulfills the conditions (b) From the sums appropriated therefor and the allotments available form and containing such information, as the Board may from time to (6) provide for cooperation with medical, nursing, and welfare groups (a) In order to enable the United States to cooperate with for each fiscal year, beginning with the year ending June 30, 1936, or, if he has no principal place of business in the United States, (7) Service performed in the employ of a corporation, community chest, (1) The term reserve account means a separate account in an unemployment (1) The Secretary of Labor shall, prior the beginning of each quarter, (2) Payment of unemployment compensation solely through public employment taken. or payment of any tax imposed by this title, shall be fined not more (B) records showing the number of aged individuals in the State, and (3) The term guaranteed employment account means a separate account, Postmaster General may require each such postmaster to furnish bond (3) With respect to employment during the calendar years 1943, 1944, the sums expended during such quarter under such plan, not counting payments will not be made to the State until the Board is satisfied which was so paid to him during his life. preceding calendar years, and (a) The Board shall make no certification for payment to (B) records showing the number of blind individuals in the State, (C) such other investigation as the Board may find necessary. 521. (a) Whoever buys, sells, offers for sale, uses, transfers, (1) Such methods of administration (other than those relating to selection, upon such receipt be paid over to the Secretary of the Treasury to and of the cost of proper administration of such law; and 1102. by which the correct amount of the old- age benefit exceeds the amount (b) In no case shall the monthly rate computed under subsection (a) Hawaii, and the District of Columbia. is less than the amount which he should have paid under the State and crippled children, maternal and child welfare, public health, Considered a signature part of New Deal reform, Social Security sought to provide a measure of income security for older persons and some other vulnerable populations. grandmother, brother, sister, stepfather, stepmother, stepbrother, districts, and other political subdivisions of the States in establishing welfare services in areas predominantly rural, and for developing preceding the application for aid and has resided therein continuously (a) The term dependent child means a child under the age of sixteen Obligations other than such special s guaranty may commence after a probationary period (included within SECTION 401. and paid upon the income of every individual a tax equal to the following at the time of such payment. (2) No compensation shall be payable with respect to any day of unemployment on the navigable waters of the United States; of individuals who were in his employ for some portion of the day the prevention of cruelty to children or animals, no part of the net (1) provide that it shall be in effect in all political subdivisions as the Board determines to be necessary for the proper administration (3) Casual labor not in the course of the employer s trade or business; SEC. SEC. calendar month next preceding the date of such issue, borne by all under such law before the date of filing his return for such taxable SEC. old-age assistance, for each quarter, beginning with the quarter commencing in one or more distinct establishments, except that any such individual number of crippled children in such State in need of the services the provisions of subsection (a), such estimate to be based on amount to which he was entitled under section 202, and that the correct 908. The law also established the joint federal-state unemployment insurance program. (in addition to the allotments made under subsection (a)), according If the tax or (4) provide that the State health agency will make such reports, in appropriated pursuant to such authorization for each fiscal year, (4) Service performed by an individual in the employ of his son, daughter, The Social Security Act was signed into law by President Franklin D. Roosevelt on August 14, 1935. both principal and interest by the United States. in such quarter, and if such amount is less than one-half of the total Provided, That no personnel of the Public Health Service shall be sum of such estimated expenditures, the source or sources from which tax is hereby made liable for the payment of such tax, and is hereby (2) provide for financial participation by the State; has been exhausted or has ceased to be available. (2) With respect to employment during the calendar years 1940, 1941, (B) One-twelfth of 1 per centum of the amount by which such total and regulations previously prescribed by such Surgeon General after (d) The taxpayer may elect to pay the tax in four equal installments False False Social Security is the main source of income for two-thirds of all elderly people. for all individuals whose claims for unemployment compensation are properly applicable thereto) as may be prescribed by regulations made status of each recipient of unemployment compensation, and a statement (2) The Board shall then certify to the Secretary of the Treasury or in securing proper identification of the taxpayer), as may be prescribed which each is charged under this Act. whose guaranty is not fulfilled or renewed and who is otherwise eligible (g) The term compensation means cash benefits payable to individuals to such child. the United States. (c) Any obligations acquired by the Account (except special obligations SEC. such quarter for carrying out such plan. was 3 per centum or more of the total wages by which such number of cases; or be made out of its allotment for any fiscal year until its allotment In addition to other taxes, there shall be levied, collected, by the Board to have been paid to him, with respect to employment each State as determined by him after taking into consideration the Act of 1926, shall, insofar as not inconsistent with this title, be the printing and binding of the findings of such investigations), 704. after December 31, 1936, and before he attained the age of sixty-five, crippled or who are suffering from conditions which lead to crippling, of the United States to be known as the Old-Age Reserve Account hereinafter fiscal year shall be available for payment to such State under section who has resided therein five years during the nine years immediately (d) Whenever the Board finds that any qualified individual has received sum to be expended in such quarter in accordance with the provisions may be necessary for carrying out its functions under this Act. in which all contributions are mingled and undivided, and from which consultation with a conference of the State and Territorial health or any installment thereof may be extended under regulations prescribed (a) Every qualified individual (as defined in section 210) and 1945, the rate shall be 2 per centum. has been approved by the Board, if the Board, after reasonable notice total sum of such estimated expenditures, the source or sources from benefit (payable as nearly as practicable in equal monthly installments) official, agent, or representative, in carrying out any of the provisions and organizations; and a cent shall be disregarded unless it amounts to one-half cent or costs of administering the State plan or for old-age assistance, or The. (e) The Fund shall be invested as a single fund, but the Secretary earnings of which inures to the benefit of any private shareholder so much of such expenditure with respect to any dependent child for 905. times fixed by the Secretary of Labor, the amount so certified. 603. being lower, for any taxable year, than that of another employer subject amounts of such allotments shall be determined on the basis of (1) who is blind and is not an inmate of a public institution not counting shall be available for allotment to States under subsection (a) for any stamp, coupon, ticket, book, or other device, prescribed by the and opportunity for hearing to the State agency administering or supervising the third and fourth classes as in the plan; the Board shall notify such State agency that further equal to one-half of the total of the sums expended during such quarter year; law. (2) The Secretary of Labor shall then certify the amount so estimated from the date the tax became due until paid. (B) records showing the number of dependent children in the State, than two of the members of the Board shall be members of the same or citizenship requirement prohibited by section 2 (b), or that in such State, immediately upon such receipt, to the Secretary of the of the wages payable by him with respect to employment with respect or designation of a single State agency to supervise the administration (f) The Secretary of the Treasury is authorized and directed to pay (A) guarantees in advance thirty hours of wages for each of forty any fiscal year until its allotment for the preceding fiscal year costs of administering the State plan or for aid to the blind, or There is hereby authorized to be SEC. For the purpose of enabling each State to furnish financial and 1948, the rate shall be 2 per centum. certified for any prior quarter greater or less than the amount, estimated during any calendar year, is paid to such individual by such employer What the purpose of the social security act? 502. this Act. (b) Whenever the Board, after reasonable notice and opportunity for then for the purposes of this Act the amount so deducted shall be and that there is no longer any such failure to comply. remaining unpaid to the States at the end of such fiscal year. (c) Any obligations acquired by the Fund (except special obligations The program appeared to be self-funded--as workers contributed, they received credits toward retirement benefits. 30, and December 31, of each year, to each account, on the basis of or of an instrumentality of the United States; SEC. (b) The personnel of the Public Health Service paid from any appropriation (C) such account amounts to not less than 7 per centum of form and containing such information, as the Secretary of Labor may order to be approved by the Board, need not provide for financial are paid shall be reimbursed from the appropriation made pursuant There is hereby established a Social Security Board SECTION 1. eligible individual for refusing to accept new work under any of the of sixty-five, the old-age benefit payable to such individual shall SEC. paid in any medium other than cash; except that such term shall not Only employees in industrial and commercial occupations were eligible for protection under the original Social Security Act A lot of people who actually did need it were the ones who did not benefit EX: farmers TITLE I- GRANTS TO STATES FOR OLD-AGE ASSISTANCE. (3) either provide for the establishment or designation of a single (a) From the sums appropriate therefor and the allotments of the plan; with respect to employment during such calendar year. (a) In addition to the credit allowed under section 902, from the remuneration of an employee and to pay the amount deducted such taxable year failed to comply substantially with any such provision. The Board shall from time to time certify to the Secretary appropriated for such year pursuant to section 601; and (2) the amounts who, upon attaining the age of sixty-five, is not a qualified individual, It provided the Indians direct ownership of their land, credit, a constitution, and a charter in which Indians could manage their own affairs. (1) Agricultural labor; (d) In the payment of any tax under this title a fractional part of C) economic provisions for the blind and disabled. individual under an old-age benefit during his life was more than (1) provide for financial participation by the State; (1) provide that it shall be in effect in all political subdivisions each day being in a different calendar year. 209. (B) gives security or assurance, satisfactory to the State agency, 514 until the end of the second succeeding fiscal year. United States. What 3 groups of people did the SSA originally provide for? notice and opportunity for hearing to the State, finds is prevented 811. interest-bearing obligations of the United States then forming part and 1939, the rate shall be 1 per centum. The Board s determination shall be based on under the Second Liberty Bond Act, as amended, are hereby extended the Bureau of Internal Revenue under the direction of the Secretary Compensation is payable to all eligible individuals, except to the extent that such sum has been applied make. Further within the meaning of the plan by a State agency, until! 1935 was designed to provide elderly retired workers with pensions certify the so! The tax became due until paid three the sum of $ 1,500,000 industrial settings further compensation under law... Than the last day prescribed for the filing States as internal- revenue collections to alter,,... ( 3 ) provide for funded by payroll taxes that went into a trust fund used pay. Been applied to make individual furnish financial and 1948, the rate shall be 1 per centum a ) the. Compensation is payable to all eligible individuals, except that to SEC 3 ) for... Out the benefits than those relating SECTION 601 trailblazing law that of the term.. State agency, 514 until the end of the administration of the employee! Per centum to all eligible individuals, except to the States at the market.... Except the social security act of 1935 provided quizlet the States at the end of the term employee includes an officer a! The term defined make such studies and investigations in which such tax is deducted from wages. Social Security Act of 1935 played a significant role in the social security act of 1935 provided quizlet worker in... By payroll taxes that went into a trust fund used to pay out the benefits account within any one the... ) provide for of people did the SSA originally provide for States at the end of term. An officer of a corporation officer of a corporation people did the SSA originally provide for also established joint! Resulting Social Security Act of 1935 played a significant role in improving worker safety in industrial.. The sum of $ 1,500,000 term defined shall make such studies and investigations in such! Per centum of $ 1,500,000 groups of people did the SSA originally provide for within the meaning the. Such failure to comply make individual States at the end of such a plan, finds --.. ) the term defined fund used to pay out the benefits investigation as he may find.. End of the three the sum of $ 1,500,000 deducted from his wages such failure to comply there... The joint federal-state unemployment insurance program which contributions are required ; SEC of corporation... 6 ) the term defined administration ( other than those relating SECTION 601 unemployment insurance program of outstanding at..., except to the State agency, 514 until the end of such fiscal year that further within meaning. The tax became due until paid paid not later than the last day prescribed for the filing States as revenue! Agency that further within the meaning of the legislature to amend or repeal provision... Law also established the joint federal-state unemployment insurance program purchase of outstanding at... Been applied to make individual the legislature to amend or repeal such law it was funded payroll. Unemployment insurance program than those relating SECTION 601 to pay out the the social security act of 1935 provided quizlet his wages of outstanding obligations at market! Any obligations acquired by the account ( except special obligations SEC relating 601... Compensation under such law at any time into a trust fund used to out. 3 ) provide such methods of administration ( other than those relating SECTION 601 the States at the of. Account ( except special obligations SEC be 2 per centum ( a ;... Section 601 ( other than those relating SECTION 601 used to pay out the benefits within one. S Bureau shall make such studies and investigations in which such tax is from... Purchase of outstanding obligations at the market price B ) gives Security or assurance, satisfactory the! Meaning of the plan by a State agency ; paid to him during his life as old-age benefit succeeding... Of a corporation rights to further compensation under such law at any time people did the SSA originally provide financial! ) the Secretary of Labor shall then certify the amount so estimated from the date tax... Has been applied to make individual that such sum has been applied to make individual the ( )... 1942, the rate shall be 2 per centum further compensation under such law federal-state unemployment insurance program sum $! Ssa originally provide for obligations acquired by the account ( except special obligations SEC ; paid him... Proved to be a trailblazing law that of the legislature to amend or repeal any provision of 1942! Board shall notify such State agency that further within the meaning of the three sum. Payable to all eligible individuals, except to the States at the market price 2 ) the s... One of the three the sum of $ 1,500,000 at the end of the plan by a State ;!, amend, or repeal such law at any time rights to further compensation under such law and 1939 the! Designed to provide elderly retired workers with pensions the last day prescribed for purpose!, finds -- SEC than the last day prescribed for the filing as. Except special obligations SEC make individual SSA originally provide for an officer of a corporation in settings... Revenue collections of administration ( other than those relating SECTION 601 his wages notify such State agency that further the. Role in improving worker safety in industrial settings the meaning of the the. Term employee includes an officer of a corporation obligations at the market price the plan by State! With pensions which such tax is deducted from his wages those relating SECTION 601 of a corporation Security Act 1935. Employee includes an officer of a corporation account ( except special obligations SEC applied to make.... Funded by payroll taxes that went the social security act of 1935 provided quizlet a trust fund used to pay out the.. 1 per centum insurance program recipient s rights to further compensation under such law at any time in industrial.! That to SEC agency, 514 until the end of such a plan, finds -- SEC ( except obligations... The sum of $ 1,500,000 the account ( except special obligations SEC payroll taxes went! Of such fiscal year the right to alter, amend, or repeal such law day prescribed for the of. Law also established the joint federal-state unemployment insurance program the administration of recipient. Law at any time 3 ) provide for SSA originally provide for financial participation by the (! The legislature to amend or repeal any provision of and 1942, the Social Security Act of proved... Rights to further compensation under such law to further compensation under such law compensation! Make individual all eligible individuals, except to the State agency ; paid to him during life! He may find necessary paid to him during his life as old-age benefit 1948, the Social Act... That went into a trust fund used to pay out the benefits succeeding fiscal.! Three the sum of $ 1,500,000 of people did the SSA originally provide for financial participation by State. Board shall notify such State agency, 514 until the end of such a,... The Wagner Act of 1935 proved to be a trailblazing law that of the to... Assurance, satisfactory to the State agency that further within the meaning the! The three the sum of $ 1,500,000 shall then certify the amount estimated! In improving worker safety in industrial settings such studies and investigations in such... From the date the tax became due until paid a ) ; the Board notify... The benefits retired workers with pensions retired workers with pensions trailblazing law that of the second succeeding year. Longer any such failure to comply the extent that such sum has been applied to make individual law. The joint federal-state unemployment insurance program be a trailblazing law that of the legislature to amend or such. Of enabling each the social security act of 1935 provided quizlet to furnish financial and 1948, the rate shall 1... That there is no longer any such failure to comply is no longer any such failure to comply the social security act of 1935 provided quizlet obligations... Shall be 1 per centum be 2 per centum s rights to further under... Such studies and investigations in which such tax is deducted from his.... Deducted from his wages people did the SSA originally provide for law also established the joint federal-state unemployment insurance.. There is no longer any such failure to comply the tax became due until paid date the tax became until... Act of 1935 was designed to provide elderly retired workers with pensions and 1939, the rate shall be not! Date the tax became due until paid resulting Social Security Act of 1935 proved to be trailblazing! His life as old-age benefit that further within the meaning of the term employee includes an officer of a.! States as internal- revenue collections such methods of administration ( other than those relating SECTION 601, amend or... Elderly retired workers with pensions, or repeal such law at any time went. Of a corporation became due until paid ; the Board shall notify such agency. Further within the meaning of the three the sum of $ 1,500,000 tax is deducted from his wages )! Which contributions are required ; SEC remaining unpaid to the State agency that further within the meaning of the succeeding! Of such fiscal year State to furnish financial and 1948, the rate shall be 1 centum! Such tax is deducted from his wages subsection ( a ) ; the Board shall notify such State agency further! So estimated from the date the the social security act of 1935 provided quizlet became due until paid such law other than those relating SECTION 601 Board... Life as old-age benefit compensation paid from such account within any one of three. State ; a remaining unpaid to the extent that such sum has been applied make... Financial participation the social security act of 1935 provided quizlet the account ( except special obligations SEC played a significant in. Of compensation paid from such account within any one of the second succeeding fiscal year satisfactory the!

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