Changes in dating over the years
Further, the Council recommended a benefit structure that, in addition to basic benefits for workers, would provide protection for aged wives, widows, and surviving children starting in 1940.
Based on the Advisory Council's recommendations and recognizing the heavy dependence of most families on the male wage earner at that time, the Congress, in 1939, enacted legislation that eliminated lump-sum payroll tax refunds and provided benefits for aged wives and widows, young children of retired and deceased workers, young widows caring for a child beneficiary, and dependent parents of retired and deceased workers.
The law has since 1956 required periodic appointment of Advisory Councils.) The Council's fundamental finding was an endorsement of contributory old-age insurance as a way of preventing dependency in old age and thereby reducing reliance on needs-tested assistance.Due in large part to the public and congressional pressures for some Federal response to the chaotic conditions of the time, in June 1934, a Committee on Economic Security was established by Executive Order of President Franklin Roosevelt.This Cabinet-level Committee, chaired by Frances Perkins, the Secretary of Labor, was given the task of developing constructive, long-term proposals for the prevention of all the major causes of economic insecurity.Between 19, national income dropped by 43 percent, per capita income by 19 percent.By the mid-1930's, the lifetime savings of millions of people had been wiped out.