Fun Fact of the Day, June 19, 2019

June 19, 2019

What A Deal - The first recipient of a monthly Social Security retirement benefit in January 1940 was 65-year old Ida May Fuller of Vermont. During the 3 years before Fuller retired, she paid $24.75 in payroll taxes (in total, not per year). Fuller lived another 35 years before dying at age 100 in 1975. During her retirement, Social Security paid Fuller $22,889 in retirement benefits, i.e., she received $925 of benefits for every $1 she paid into the program (source: Social Security).

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