VIDEO: The History of Social Security Explained in Simple Terms

The Social Security Act was signed into law by President Roosevelt on August 14, 1935. It was a landmark piece of legislation for its time. In addition to several provisions for general welfare, the new Social Security Act created a social insurance program designed to pay retired workers age 65 or older a continuing income after retirement.

Although millions of older Americans rely on this critical program financially, very few understand it. We found a very helpful video created by History is Fun that explains why we have Social Security and how it works.

The Seniors Trust is committed to improving the financial well-being of older Americans through the passage of the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.