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Randolph County News

Friday, April 3, 2020

Total OASDI retired beneficiaries in Asheboro increases in 2018


By Metric Media News Service | Feb 24, 2020


There were 20,500 total OASDI retired beneficiaries in Asheboro in 2018, a 2.2% increase over 2017, which had 20,055 total retired beneficiaries, according to the official Social Security Administration website.

The Old-Age, Survivors, and Disability Insurance (OASDI) 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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