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Sunday, November 24, 2024

Total OASDI beneficiaries in the state of New York increases in 2020

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There were 3,680,264 total OASDI beneficiaries in the state of New York in 2020, according to the official Social Security Administration website.

This is a 0.4 percent increase over 2019 which had 3,667,022 total beneficiaries.

The Old-Age, Survivors, and Disability Insurance (OASDI) program is a program of the Social Security Administration funded primarily through payroll taxes. It was signed into law in 1935 by then-President Franklin D. Roosevelt.

The OASDI program aims to supplement a worker's lost wages due to retirement, disability or death of a spouse.

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