South Tidewater News

Saturday, November 23, 2024

Widow and parent beneficiaries in ZIP Code 23508 increase in 2020

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By South Tidewater News

There were 120 total OASDI widow and parent beneficiaries in Virginia ZIP Code 23508 in 2020, a 4.3 percent increase over 2019, according to the Social Security Administration.

There were 115 total widow and parent beneficiaries in 2019.

The Old-Age, Survivors, and Disability Insurance (OASDI) program aims to supplement a worker's lost wages due to retirement, disability or death of a spouse.

The Social Security Administration program is funded primarily through payroll taxes. It was signed into law in 1935 by then-President Franklin D. Roosevelt.

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