OASDI

Personal Finance

Old-Age, Survivors, and Disability Insurance (OASDI) is the formal name for Social Security — the federal program providing retirement, disability, and survivor benefits to American workers and their families. Funded by FICA payroll taxes: 6.2% from employee + 6.2% from employer = 12.4% total, applied to wages up to the annual wage base ($176,100 for 2026). Self-employed pay both halves. OASDI is the largest US government program — paying $1.4+ trillion annually to 70+ million Americans. Trust fund is projected to be depleted around 2033, after which incoming taxes would cover ~80% of scheduled benefits absent legislative action.