Old-Age and Survivors Insurance: Financing Basis and Policy Under 1956 Amendments
نویسنده
چکیده
* C h i e f A c t u a r y , Soc ia l S e c u r i t y A d m i n i s t r a t i o n . In the 1956 amendments to the Social Security Act, Congress continued its policy of making the old-age and survivors insurance program self-supporting. The amendments included provisions increasing the cost of the program, but the greater cost–except for the new disability insurance benefits–is roughly offset by cost-reduction factors. To finance the disability benefits, the tax rate was increased and a separate trust fund established. The effects of the 1956 legislation are included in the consideration of program financing that follows.
منابع مشابه
Financing Basis of Old-Age, Survivors, and Disability Insurance and Health Insurance Under the 1967 Amendments
THE AMENDMENTS TO THE Social Security .1ct passed in 1967 (Public Law 90-248) made several changes in the old-age, survivors, disability, hospital, and supplementary medical insurance system.’ Some of these changes affected significantly the actuarial status of the system. The principles used to determine tile financing stability of the program were not altered, however. This article discusses ...
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