Total OASDI retired beneficiaries in Illinois ZIP Code 60034 increases in 2020

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By McHenry Times

Apr 6, 2022

There were 350 total OASDI retired beneficiaries in Illinois ZIP Code 60034 in 2020, a 4.5 percent increase over 2019, which had only 335 total retired 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.