OASDI

Old-Age, Survivors, and Disability Insurance, commonly known as OASDI, is a program within the United States Social Security system that provides financial support to retired workers, their families, and people with disabilities. It combines Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI). The program is administered by the Social Security Administration under the Social Security Act.

OASDI is funded primarily through payroll taxes collected under the Federal Insurance Contributions Act (FICA) for workers and their employers, and the Self-Employment Contributions Act (SECA) for self-employed individuals. Employees and employers each contribute a portion of earnings up to a taxable maximum, with self-employed people paying both shares.

Benefits are wage-earner-based and are available to eligible workers and their families. Retirement benefits are paid to workers who have earned sufficient work credits; eligibility for retirement starts as early as age 62 with reduced benefits, with full or increased benefits available depending on birth year and delayed retirement credits up to age 70. Survivor benefits may be paid to a surviving spouse, children, or sometimes other dependents of deceased workers. Disability Insurance provides benefits to workers with a medical condition that prevents substantial gainful activity and who have sufficient work credits.

Benefit amounts are calculated using the worker's Average Indexed Monthly Earnings (AIME) and the Primary Insurance Amount (PIA). OASDI benefits generally require a certain number of work credits, typically 40 for retirement and disability, but survivor eligibility varies. The program is administered by SSA and benefits may be subject to federal taxation in some circumstances.