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Monday, December 23, 2024

Total OASDI retired beneficiaries in California increases in 2021

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There were 4,636,107 total OASDI retired beneficiaries in California in 2021, according to the official Social Security Administration website.

This is a 1.6 percent increase over 2020 which had 4,563,824 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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