Social Security Administration - SSA

AAA

DEFINITION of 'Social Security Administration - SSA'

A U.S. government agency created in 1935 by President Franklin D. Roosevelt, the SSA administers the social insurance programs in the United States. The agency covers a wide range of social security services, such as disability, retirement and survivors' benefits. Previously operating under the Department of Health and Human Services, the SSA has operated as a wholly independent agency since 1994.

INVESTOPEDIA EXPLAINS 'Social Security Administration - SSA'

Unlike the majority of U.S. federal government agencies, the SSA is not headquartered in Washington D.C. Instead, the agency is based in the city of Woodland, which is a suburb of Baltimore, Maryland. The SSA has seen numerous name changes and operational revisions in its lifetime as different administrations shaped the agency into their desired forms. The SSA provides a wide range of services, including (at the time of writing) determining citizen eligibility and premium payments for the Medicare program.

RELATED TERMS
  1. Disability Insurance Trust Fund

    An account within the Social Security Trust Fund used to pay ...
  2. Indexed Earnings

    A worker's past wages that have been adjusted for changes in ...
  3. AARP

    Formerly known as the American Association of Retired Persons, ...
  4. Social Security

    A United States federal program of social insurance and benefits ...
  5. Medicaid

    A joint federal and state program that helps low-income individuals ...
  6. Disability-Income (DI) Insurance

    An insurance product that provides supplementary income in the ...
Related Articles
  1. How Much Social Security Will You Get?
    Retirement

    How Much Social Security Will You Get?

  2. Retirement Saving Tips For 65-Year-Olds ...
    Retirement

    Retirement Saving Tips For 65-Year-Olds ...

  3. Will Your Retirement Income Be Enough?
    Retirement

    Will Your Retirement Income Be Enough?

  4. Maximize Your Social Security Benefits
    Retirement

    Maximize Your Social Security Benefits

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center