Social Security has been a life-sustaining, life saving part of American culture since 1935. Established after the Great Depression that left many homeless, hungry, and financially disabled, local social security services were created to assist people in need. Originating in various forms of pension programs after the Civil War to help war veterans and their families, Social Security benefits have created better lives for those with no means of income or support. Local social security services offer programs of financial assistance to elderly and disabled individuals. In association with employers, Social Security Administration systematically deducts portions of employee earnings over time to provide for their future financial security. Financial securities are offered through retirement packages and survivor and disability benefits administered by local social security services provided to the public at no cost. Employers obtain social security numbers used interchangeably with the Internal Revenue Service (IRS) as identifying numbers to withhold social security tax from employee gross salaries. Employers typically match employee contributions. Taxes for Medicare and other benefits are also subtracted from employee earnings at the end of pay periods. Self employed individuals and contractors are required to report their earnings to the IRS during yearly tax filings. Funds are placed into social security accounts. It is important to obtain a social security card for newborns. A typically 12-digit number is issued and becomes important to that person lifetime earnings and future benefits. Working people can retire from these benefits between the ages of 62 and 66 years old. The current retirement age is 66.
