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NE Piedmont News

Tuesday, February 18, 2020

Total OASDI retired beneficiaries in North Carolina zip 27553 increases in 2018

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By Local Labs News Service | Oct 18, 2019

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There were 470 total OASDI retired beneficiaries in North Carolina zip code 27553 in 2018, a 6.8 percent increase over 2017, which had only 440 total retired 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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