The Townsend Plan was America's first national retirement system, enacted about thirty years prior to the more economically stable Social Security plan, which replaced it in 1934.

Question

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The Townsend Plan was never enacted; it was a proposal that influenced the creation of the Social Security system, which was the first national retirement system in the United States, established in 1935.

The Townsend Plan Was America's First National Retirement System, Enacted