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Tuesday, January 21, 2020

Total OASDI beneficiaries in Michigan increases in 2018


By LocalLabs News Service | Dec 2, 2019

There were 2,209,084 total OASDI beneficiaries in Michigan in 2018, a 1 percent increase over 2017, which had 2,186,709 total beneficiaries, according to the official Social Security Administration website.

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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