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Question
the 1935 social security act paid retirees a stipend based on
the size of their bank accounts.
the size of their economic needs.
the amount of time dedicated to one job.
the amount contributed to the fund while working.
The 1935 U.S. Social Security Act established a pay-as-you-go system where retiree benefits are calculated based on the payroll taxes (contributions) they made to the Social Security fund during their working years, not on savings, need, or single-job tenure.
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the amount contributed to the fund while working.