When was the Pension Benefit Fund (PBF) established?

The Pension Benefit Fund (PBF) was established in 1927. This timeframe is significant within the context of the development of social welfare programs in the United States, particularly those aimed at providing financial security for retired workers. The creation of pension funds during this period marked an increased recognition of the need to support individuals in their later years, reflecting broader trends in social policy and economic protection.

The establishment year of 1927 aligns with the aftermath of the 1920s, a decade characterized by economic expansion, but also by the challenges faced during the Great Depression that followed. The introduction of pension systems was part of a shift towards ensuring that workers had some form of financial stability upon retirement, which was a relatively novel concept at the time compared to previous reliance on family support or charity.

Understanding this context helps clarify the importance of the PBF's establishment in the evolution of retirement security, laying groundwork for future developments in pension systems and eventually leading to broader federal programs.