What does OASDI stand for?

OASDI stands for Old Age, Survivors, and Disability Insurance. This program, administered by the Social Security Administration, provides financial assistance to eligible individuals who are retired (old age), those who have lost a family breadwinner (survivors), and those who are unable to work due to disability. It serves as a critical safety net for millions of Americans, ensuring that they receive support during these pivotal stages of life.

The components of OASDI are designed to address different needs within the population. The 'old age' aspect involves retirement benefits for workers who have paid into the Social Security system during their working years. The 'survivors' portion provides financial assistance to family members who rely on a deceased worker's earnings. Disability insurance offers support to individuals who become unable to work due to medical conditions.

Other phrases in the options do not accurately reflect the established terminology used by the Social Security Administration and do not encompass the full scope of the program as OASDI does.