In the
United States Social Security
In the United States, Social Security is the commonly used term for the Federal government of the United States, federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration ( ...
System, the term "legacy debt" has been used for the difference between what the current and past cohorts of
beneficiaries paid into the system and the benefits they were paid.
Ida May Fuller
Ida May Fuller (September 6, 1874 – January 27, 1975) was a Vermont schoolteacher and legal secretary. She was most notable as the first beneficiary of recurring monthly Social Security payments.
Early life
Fuller was born at her family's Jewe ...
paid total taxes of $24.75 from 1937 until her retirement at 65 in 1939. Upon her death at age 100 in 1975 she had been paid $22,888 in Social Security benefits.
L. (1996). "Details of Ida May Fuller's Payroll Tax Contribution."
Retrieved February 1, 2015.
References
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Social security in the United States