History, Current Legislation, and Social Security Basics

Author: Theodore Sarenski

CPE Credit:  2 hours for CPAs

Join expert, Theodore Sarenski, CPA/PFS, CFP, AEP, as he walks you through how Social Security came to be legislated and of the many changes it has undergone through its 80 year history. Following the history we will review the legislation introduced in congress or the Senate over the last four years which will give you an idea of where Social Security is headed in the future. Lastly, we will cover the basic benefits and rules in the Social Security system.

Publication Date: May 2019

Designed For
Any professional who is advising individual clients should attend this session as well as all of the series of the Social Security sessions to properly advise your clients on Social Security, the backbone of each person’s retirement.

Topics Covered

  • Precursor to Social Security
  • Social Security History
  • Who is This?
  • Current legislation
  • A current Senate Bill and House Bill
  • The Social Security Expansion Act
  • The Social Security Reform Act of 2016
  • Social Security Basics
  • Annual Report of the Board of Trustees — April 25, 2019
  • Trustees Suggestion —How Does it Translate?
  • Social Security Statistics
  • Why Does Social Security Matter?
  • When Do You Advise To Begin Taking Social Security Benefits?
  • Difference in Monthly Benefit — No Time Value or COLA
  • Breakeven Point
  • Qualifying for Benefits
  • Suspend Anytime
  • Other Factors to Consider when Advising Clients as to When to Begin SS Benefits
  • Changes in Amounts for 2019
  • Social Security Facts — From 2019
  • Who Does Not Get Social Security

Learning Objectives

  • Identify the evolution of this important social program and the years advancements were made
  • Recognize how to discuss the future of Social Security with your clients to assure them of its importance
  • Identify the basics of Social Security needed before the other courses in this series
  • Describe the changes made to Social Security in 1961
  • Differentiate which Congressional Acts were introduced By Senator Bernie Sanders in 2015
  • Identify a proposed amendment from the Social Security Reform Act of 2016
  • Differentiate correct statements with respect to the 2019 Annual Report of the Board of Trustees
  • Identify a change to Social Security in 2019
  • Recognize which provisions were added to Social Security in 1965
  • Describe the percent Social Security represents what percent of income of all elderly individuals
  • Recognize how many quarters of coverage are needed to receive full Social Security Retirement benefits
  • Identify what percentage of the workforce has no private pension coverage, based on 2019 statistics


Instructional Method

NASBA Field of Study
Specialized Knowledge and Applications (2 hours)

Program Prerequisites

Advance Preparation

Registration Options
Regular Fee $55.00

 Chat — Books Support