Latest News
A Little More History About Social Security - creators.com
Social Security was created in 1935 and has undergone significant changes since then. Tom Margenau, a retired Social Security employee, wrote an article highlighting little-known facts about the program. He focuses on two unfamiliar terms—pneumoconiosis and Prouty—and explains their relevance. The article also clarifies the meaning of Social Security “beneficiary identification codes” (BIC codes).
Transitioning from those lesser-known terms, this article explains that there are approximately 100 BIC codes. These are the letter symbols found behind your Social Security number on correspondence from Social Security. The most common BIC code is “A,” which stands for retirement benefits. The BIC code for widow’s benefits is “D.” If you are curious about what the different BIC codes represent, click here… for the complete list.
To read the complete article by Tom Margenau, click here..
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.