Social Security History (2024)

This is an archival or historical document and may not reflect current policies or procedures.

The Depression

Thousands of banks failed during the Depression and loss of confidence caused anxious depositors to create "runs" on banks as they tried to withdraw their money before the banks collapsed.

Social Security History (1)

National Archives Photo, NLR-PHOCO-A-7420(1007)

Many smaller banks, such as this one in Haverhill, Iowa, lacked sufficient reserves to stay in business and became no more than convenient billboards. Many of the small banks had lent large portions of their assets for stock market speculation and were virtually put out of business overnight when the market crashed.

Social Security History (2)

Library of Congress photo, LC-USF34- 028362-D

In all, 9,000 banks failed--taking with them $7 billion in depositors' assets. And in the 1930s there was no such thing as deposit insurance--this was a New Deal reform. When a bank failed the depositors were simply left without a penny. The life savings of millions of Americans were wiped out by the bank failures.

Historical Links

Social Security History (2024)

FAQs

How do I get answers to Social Security questions? ›

For general Social Security inquiries, call us toll-free at 1-800-772-1213 or 1-800-325-0778 (TTY) between 7 a.m. and 7 p.m., Monday through Friday.

What is one of the biggest mistakes people make regarding Social Security? ›

Claiming too early

This may be the single biggest issue impacting Americans because Social Security allows people to begin collecting their benefits when they turn 62, or about five years before the full retirement age for most people.

How do I get past Social Security statements? ›

You can get your Social Security Statement (Statement) online by using your personal my Social Security account. Your online Statement gives you secure and convenient access to estimates for retirement, disability, and survivors benefits you and your family may be eligible for.

How do I get my entire work history from Social Security? ›

The social security administration maintains records of the wages and self-employment income you've earned over your lifetime. This information determines your eligibility and benefit amount for Social Security benefits. To get a copy of your earnings records, you'll need to fill out and submit Form SSA-7050-F4.

Is there really a $16728 Social Security bonus? ›

Have you heard about the Social Security $16,728 yearly bonus? There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.

At what age is Social Security no longer taxed? ›

Social Security tax FAQs

Social Security income can be taxable no matter how old you are. It all depends on whether your total combined income exceeds a certain level set for your filing status. You may have heard that Social Security income is not taxed after age 70; this is false.

Can I get Social Security records online? ›

Your Social Security Statement (Statement) is available to view online by opening a my Social Security account. It is useful for people of all ages who want to learn about their future Social Security benefits and current earnings history.

How can I see my entire work history? ›

You can receive a statement of your employment history from Social Security by completing a Request for Social Security Earnings Information form. You will receive detailed information about your work history including employment dates, employer names and addresses, and earnings.

How much does it cost to get your work history from Social Security? ›

If you do not tell us why you need the information, we will charge a fee. We charge $44.00 to certify yearly totals of earnings. However, if you do not want or need certification, you may obtain yearly totals FREE of charge at www.ssa.gov/myaccount.

Where can I see my Social Security history? ›

To see your own, personalized Statement PDF, create or log in to your personal my Social Security account. There, you can print, save, or download your own Statement PDF to check your earnings record and personalized benefit estimates.

Where is the best place to get Social Security advice? ›

Our website is the best way for most people to get help. our website, call our National 800 Number (1-800-772-1213) or your local Social Security office for help. We will schedule an appointment for you, if necessary, to serve you by phone or in person.

How can I get Social Security to answer the phone? ›

You can call us at 1-800-772-1213 between 8:00 a.m. – 7:00 p.m. local time, Monday through Friday. Wait times to speak to a representative are typically shorter in the morning, later in the week, and later in the month.

How to answer questions on Social Security function report? ›

Be honest: Answer every question honestly and provide as much detail as possible. Be specific: Describe specific examples of how your disability limits you, both physically and mentally. Be consistent: Don't contradict other answers you've given on the form or in your application.

How can I get help with understanding Social Security? ›

To learn more about Social Security and our programs and services, go to ssa.gov, call 1-800-772-1213, or visit your local Social Security office.

Top Articles
Latest Posts
Article information

Author: Kelle Weber

Last Updated:

Views: 5316

Rating: 4.2 / 5 (53 voted)

Reviews: 84% of readers found this page helpful

Author information

Name: Kelle Weber

Birthday: 2000-08-05

Address: 6796 Juan Square, Markfort, MN 58988

Phone: +8215934114615

Job: Hospitality Director

Hobby: tabletop games, Foreign language learning, Leather crafting, Horseback riding, Swimming, Knapping, Handball

Introduction: My name is Kelle Weber, I am a magnificent, enchanting, fair, joyous, light, determined, joyous person who loves writing and wants to share my knowledge and understanding with you.