The Reichstag (parliament), of the Empire of Germany, passes the Old Age and Disability Insurance Act (the world’s first social security act).  The statute’s premier advocate was Chancellor (prime minister) Otto von Bismarck, a military autocrat opposed to socialism–unless it served his purposes. 

       NOTE: At this time the life expectancy of the average German worker was 41 years.  Very few would reach the retirement age of 70.  This allowed to Bismarck to collect a windfall that he could use to fund his military.

       Postscript: In 1983, the United States raised this arbitrary minimum retirement age from 65 to 67 as improved life expectancy was draining the Social Security Trust Fund.

[restored 5/15/2022]

Subsequent Events:

5/28/1927                   6/27/1934                  8/14/1935

References:

Guinand-IVSS-2008-engl.pdf – d775475fdea7ee07d1fc98bd7ca868956e34adfc.pdf
www.livingbooksabouthistory.ch/uploads/media/section/0001/01/d775475fdea7ee07d1fc98bd7ca868956e34adfc.pdf

Current U.s. National Debt:

$36,167,124,467,492

Source