Social Security and Retirement

UNIT 1.

Part II.

IV. Работая в паре, обсудите проблемы, затронутые в данной статье.

II. Назовите главную идею статьи.

III. Какие проблемы раскрыты в данной статье?

WHAT IS SOCIAL SECURITY?

Most Americans wish to be self-supporting during their lifetimes. The pioneer was taught the value of thrift and saving during his childhood. Saving money started at an early age. Since most of the farmers depended on agriculture for an occupation, money was saved when crops and prices were good. The money they were able to save was invested in more land and livestock. Many were able to save enough to live comfortably during old age. If the farmer became disabled through accident or disease his family or friends took care of him.

With the change in America from a mainly agricultural economy to an urban industrial economy, problems developed for the people employed in business and industry. For many, it was not possible to make enough money during a lifetime to retire. Workers were required to take easier jobs and keep working as long as they were able. Many who were able to save money for retirement lost their savings and investments when economic depressions hit. During the great economic depression of the 1930's, farmers and most businessmen experienced great loss of money and property. The leaders of business, industry and government started searching for ways in which economic security could be acquired for those reaching retirement age.

Thus, in 1935 after the people in the United States had experienced the greatest economic panic in the history of the nation. Congress passed the Social Security Act and established the Social Security Administration.

A number of workers in the United States were protected by private social insurance programs before 1930. These programs were established by labor unions and by the employees of particular industries. Many of the insurance groups were financed by the contributions of the employees and their employers. Through these plans, the employees could have some of their monthly earnings deducted from their checks and invested in the pension fund. At age 65 or older, the workers who had worked for the company long enough were able to receive monthly cheeks for retirement. Some workers were also able to have health insurance as a part of their retirement. Many of the railroad companies, in cooperation with, the workers and the union were providing hospital care for the workers and retired workers.

Many private insurance and retirement plans provided good retirement benefits for their workers. However, the majority of the workers in business and industry were unable to secure jobs with companies providing retirement plans and were forced to live on the money they had saved. Many people felt that the only way to provide insurance coverage for the majority of the people was to establish a national social insurance program operated by a special agency of the federal government.

Дата добавления: 2017-02-01