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Sunshine Sentinel

Wednesday, December 25, 2024

Total OASDI retired beneficiaries in Florida increases in 2020

Nowhiring09

There were 3,625,364 total OASDI retired beneficiaries in Florida in 2020, according to the official Social Security Administration website.

This is a 3.1 percent increase over 2019 which had 3,514,707 total retired 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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