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SSA Schedules Oct. 28 Checks, Oct. 30 SSI Payment
By Drooid · · How we work
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Historical Context
- The Social Security Act of 1935, signed by President Franklin D. Roosevelt, established a federal retirement program for American workers. The newly created Social Security Administration, overseen by Congress, reported that the first monthly benefit in 1940 averaged $22, covering roughly 20 million insured workers. Today, the SSA again adjusts payouts, issuing October 28 checks and a 3.6 % 2027 COLA that lifts benefits to $2,170 for retirees. These periodic adjustments echo the act’s original goal of protecting seniors from inflation, ensuring long-term financial stability for millions.
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