Holland Reporter

Holland Reporter

Wednesday, November 20, 2019

Total OASDI beneficiaries in Michigan zip 49426 increase in 2018

Business

By Local Labs News Service | Nov 8, 2019

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There were 6,155 total OASDI beneficiaries in Michigan zip code 49426 in 2018, a 3.9 percent increase over 2017, which had only 5,925 total 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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