Since were all remembering Social Security’s birthday I thought I’d post something on my one bit of Social Security memorabilia: the text of notices employers were required to post giving notice of planned payroll deductions.
NOTICE
Deductions from Pay Start Jan. 1
Beginning January 1, 1937, your employer will be compelled by law to deduct a certain amount from your wages every payday. This is in compliance with the terms of the Social Security Act, signed by President Franklin Delano Roosevelt, August 14, 1935.
The deduction begins with 1%, and increases until it reaches 3%.
To the amount taken from your wages, your employer is required to pay, in addition, either an equal or double amount. The combined taxes may total 9% of the whole payroll.
This is NOT a voluntary plan. Your employer MUST make this deduction. Regulations are published by
SOCIAL SECURITY BOARD
WASHINGTON, D.C.
My folks picked up a copy of one of these at an antique shop some years back, and it now hangs on the wall in our kitchen.
For those who want to read something more substantive on Social Security (and ignored the link above), here’s a set of reform proposals assembled by the NYT.