January 1, 1965

The Board of Trustees of the Federal Old-Age and
Survivors Insurance And Disability Insurance Trust Funds
Washington 25, D.C.

Gentlemen:
As required by section 116 of the Social Security Amendments of 1956 there is transmitted herewith the report of the Advisory Council on Social Security appointed in 1963. The report, as directed by law, includes the Council's findings and recommendations with respect to the financing of the old-age, survivors, and disability insurance program, and all other aspects of the program, including extensions of coverage and the adequacy of benefits.

Sincerely yours,
ROBERT M. BALL,

Chairman, Advisory Council on Social Security