# Social Security Administration (SSA): What It Is, Programs, History, and Future

![Social Security Administration](https://www.investopedia.com/thmb/Q0clsnfBk6f3lbtTpX1GzoS-zIY=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-52123754-86268ce34a0c44b49b5421455fc5af5c.jpg)

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> **Definition**
>
> The Social Security Administration (SSA) is the U.S. government agency that administers social programs that provide disability, retirement, and survivors' benefits.

## What Is the Social Security Administration (SSA)?

The Social Security Administration (SSA) is a U.S. government agency that administers social programs covering disability, retirement, and survivors’ benefits, among other services. It’s also responsible for issuing Social Security numbers and managing the program’s finances and [trust fund](https://www.investopedia.com/terms/s/social-security-trust-fund.asp).

Unlike most U.S. government agencies, the SSA is headquartered in Baltimore, Maryland, rather than Washington, D.C. The SSA has 10 regional offices, six processing centers, and approximately 1,230 field offices. It employs almost 60,000 workers. However, the SSA has [announced workforce reductions and office closures](https://www.investopedia.com/social-security-has-cut-millions-from-its-budget-here-s-how-it-will-affect-your-benefits-11694957) in 2025 under President Donald Trump.

### Key Takeaways

*   The Social Security Administration (SSA) oversees and runs the Social Security program in the United States.
*   Benefits that the SSA administers include Social Security retirement income and disability income programs.
*   The SSA issues Social Security numbers and manages the program’s finances and trust funds.
*   The SSA administers Supplemental Security Income (SSI) payments and Medicare Parts A and B.

## Social Security Administration Programs

The SSA administers the [Social Security](https://www.investopedia.com/terms/s/socialsecurity.asp) program. Social Security is vital to Americans’ [retirement income planning](https://www.investopedia.com/terms/r/retirement-planning.asp), particularly as savings rates for retirement remain low: 4.6% as of February 2025. Almost 69 million Americans, including retired workers, disabled workers, and survivors, will receive monthly Social Security [benefits](https://www.investopedia.com/terms/s/social-security-benefits.asp) in 2025, according to the SSA. Social Security is one of the largest government programs in the world.

The benefits are [funded with payroll taxes](https://www.investopedia.com/ask/answers/102714/how-are-social-security-benefits-affected-your-income.asp) paid by employers, employees, and the self-employed. The tax revenue goes into two Social Security trust funds: the [Old-Age and Survivors Insurance (OASI) Trust Fund](https://www.investopedia.com/terms/o/old-age-and-survivors-insurance-trust-fund.asp) for retirees and the [Disability Insurance Trust Fund (DI)](https://www.investopedia.com/terms/d/disability-insurance-trust-fund.asp) for disability beneficiaries.

The SSA provides a wide range of services in addition to overseeing retirement and disability benefits programs and administering [Supplemental Security Income (SSI)](https://www.investopedia.com/terms/s/ssi.asp), including enrollment in Parts A and B of the [Medicare](https://www.investopedia.com/terms/m/medicare.asp) program. It also issues the [Social Security numbers (SSNs)](https://www.investopedia.com/terms/s/ssn.asp) required to access numerous government and private-sector services, from credit financing and insurance coverage to hunting licenses.  

> **Important**
>
> SSI is distinct from Social Security and is not funded by payroll taxes. It aids the disabled, blind, and elderly with limited income and resources.

## History of the Social Security Administration

The Social Security Board was created in 1935, when President Franklin D. Roosevelt signed the [Social Security Act](https://www.investopedia.com/terms/s/social-security-act.asp) into law. The board was responsible for old age insurance, unemployment compensation, and public assistance. The Social Security Board was abolished in 1946 and placed its functions under the newly established Social Security Administration. The SSA was part of the Department of Health and Human Services (HHS) until 1994, when it regained its original status as an independent agency.

In 1965, President Lyndon B. Johnson signed into law the bill that created Medicare, which the SSA is responsible for administering. Amendments in 1972 created the Supplemental Security Income (SSI) program and annual [cost-of-living adjustments (COLAs)](https://www.investopedia.com/terms/c/cola.asp) to Social Security benefits and SSI. 

As of 2025, the SSA is an independent agency led by [Lee Dudek, who was appointed](https://www.investopedia.com/social-security-commissioner-says-elon-musk-doge-is-critical-to-the-administration-11682801) by President Trump as acting commissioner in February 2025. President Trump [nominated Frank Bisignano](https://www.investopedia.com/fiserv-stock-slips-as-trump-nominates-ceo-to-head-social-security-administration-8756553) for commissioner, and his nomination awaits a vote by the full U.S. Senate as of April 4, 2025. The trustees of the Social Security and Medicare trust funds report on the current and projected financial status of the programs annually.

## Social Security Administration: Annual Report

The Boards of Trustees of Social Security and Medicare issue a report each year on the current and projected financial status of their programs. The boards projected in their 2024 report that Old-Age and Survivors Insurance (OASI) Trust Fund reserves will be depleted in 2033, unchanged from the 2023 report. Payroll tax receipts will be sufficient to pay just 79% of scheduled benefits in 2033, an improvement from the 77% projection in the 2023 report.

According to the 2024 report, the Disability Insurance (DI) Trust Fund is projected to be able to pay 100% of total scheduled benefits through 2098. The 2023 report projected that the DI Trust Fund would be able to pay scheduled benefits through 2097.

The combined OASI Trust Fund and the DI Trust Fund, termed OASDI, are projected to pay 100% of benefits until 2035, when the reserves will be depleted based on the boards’ 2024 findings. At that point, continuing fund income would cover 83% of benefits. The boards’ 2023 report said OASDI reserves would be depleted in 2034 and continuing fund income would then cover 80% of benefits.

## What Programs Does the Social Security Administration Oversee?

The Social Security Administration (SSA) oversees the Social Security program, which provides benefits for qualified retirees, disabled people, and their spouses, children, and survivors. The SSA also administers Supplemental Security Income (SSI) benefit payments, handles Medicare Parts A and B, and issues Social Security numbers.  

## What’s the Difference Between Supplemental Security Income and Social Security Benefits?

Supplemental Security Income (SSI) provides monthly cash payments to help elderly or disabled people with little to no income meet basic needs. This program is separate from the retirement and disability benefits under Social Security.  

## How Can Individuals Replace a Social Security Card?

Americans can request a new card online at [SSA’s website](https://www.investopedia.com/social-security-redesigned-website-6888981) to replace their Social Security card if it requires no other changes. They can also fill out a print version of the application and return it by mail.

## The Bottom Line

The Social Security Administration (SSA) manages, administers, and disperses benefits to millions of Americans annually. Understanding the SSA and how it works can help ensure individuals and their families receive the benefits they are entitled to.

> **Article Sources**
>
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>     
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>     
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>     
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>     
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>     
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>      
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>      
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