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Nationally, almost 15 million people were receiving about a billion dollars a month in old-age, survivors, and disability insurance benebift at the close of I960. Many of these people were made eligible for benefits by the changes in the law made in 1960.such as the reduction in the amount of work required to qualify for benefits and the removal of the age 50 requirement for disability benefits.
Payments to a retired worker with no dependents receiving benefits averaged $70.00 in December 1960; to a retired couple, both receiving benefits, the average payment was $124.00. The average for an aged widow was about $58.00.
1960 was the 20th year that social security benefits were payable and the 25th anniversary of the Social Security Act, which became law in 1935. Changes in the law since 1935 have brought moFF'than 9 out of every 10 people in the United States protection by old-age, survivors and disability insurance..protection paid ior bytaxes on employees, their employers, and the self-employed. Earn
67.0%