SS has come far since paying 17 cents

By Robert Wood

Social Security Manager

Baseball is America's pastime.

It's also game known for its numbers. Joe DiMaggio's 56-game hitting streak, Cal Ripken's record of 2,632 consecutive games played and Hank Aaron's 755 career home runs all tell stories much larger than the numbers themselves. Mention any one of these numbers to a baseball fan and you're sure to call to mind memories and anecdotes.

Social Security's numbers tell stories too. The first lump sum Social Security payment was made to Ernest Ackerman in 1937 for the whopping amount of 17 cents.

That wasn't a bad return, considering Mr. Ackerman only worked one day and contributed five cents in Social Security taxes before retiring. The first monthly Social Security check went to Ida May Fuller in January of 1940, for $22.54. Miss Fuller lived to be 100, which means she collected Social Security benefits for 35 years.

In 2008, over 50 million Americans will receive nearly $614 billion in Social Security benefits. That's one out of every five dollars spent by the federal government. The average monthly benefit for a retired worker in 2008 is $1,079 - a far cry from Miss Fuller's $22.54.

Social Security benefits represent about 40 percent of income for the elderly. Ninety percent of Americans age 65 and older receive Social Security benefits.

An estimated 164 million workers are covered under Social Security -- that's 96 percent of the workforce. And Social Security is more than just retirement benefits.

Disabled workers and their dependents account for 18 percent of the total benefits paid, while survivor's benefits account for 13 percent.

Baseball and Social Security: America's pastime and America's retirement program. Both have long and storied histories and associations with numbers that can evoke recollections of days gone by, reflections of present times and predictions of the future. Learn more about Social Security by visiting www.socialsecurity.gov.