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Our semi-annual Fact Sheet on the Old-Age, Survivors, and Disability Insurance (OASDI) Program provides recent information on the number of beneficiaries and their average benefit amount, measures of protection provided by Social Security, and trust fund financial data. The latest Fact Sheet is shown below. To print the Fact Sheet, we recommend the PDF version (requires Adobe Acrobat Reader or similar reader). |
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FACT SHEET ON THE OLD-AGE, SURVIVORS, AND DISABILITY INSURANCE PROGRAM
A. Beneficiaries in Current-Payment Status, December 31, 2012
Type of benefit Number of
beneficiaries
[In thousands]Monthly
rate
[In millions]Average
monthly
amountTotal 56,758 $65,430 a Retired workers and their family members, total 39,612 48,132 a Retired workers 36,719 46,326 $1,262 Spouses 2,280 1,429 626 Children 612 378 617 Survivors of deceased workers, total 6,256 6,631 a Children 1,907 1,524 799 Widowed mothers and fathers with child beneficiaries in their care 154 138 900 Aged widow(er)s, and aged parents 3,939 4,787 1,215 Disabled widow(er)s 255 182 711 Disabled workers and their family members, total 10,891 10,667 a Disabled workers 8,828 9,978 1,130 Spouses 163 50 304 Children 1,900 639 336 a Because the benefit amounts for workers and for the various types of family members and survivors are based on different proportions of the worker's benefit, average monthly amounts for groups of these different kinds of beneficiaries are not meaningful.
B. Selected Categories of Beneficiaries (Included Above) in
Current-Payment Status, December 31, 2012
Type of benefit Number of
beneficiaries
[In thousands]Monthly
rate
[In millions]Disabled beneficiaries (OASDI)—Workers, disabled children aged 18 and over, and disabled widow(er)s 10,090 $10,885 Children (OASDI) 4,419 2,541 Student children 154 103 Disabled children aged 18 and over 1,007 725 Children under age 18 3,258 1,712 Survivor children and widowed mothers and fathers 2,061 1,662 Beneficiaries aged 62 and over (OASDI) 44,908 54,924 Beneficiaries aged 65 and over (OASDI) 39,614 49,084
C. Average Monthly Family Benefits in
Current-Payment Status, December 31, 2012
Selected family a group Number of
families
[In thousands]Average
family
benefitAverage
number of
beneficiaries
per familyRetired worker alone 34,041 $1,250 1.000 Retired worker and spouse, aged 62 and over 2,156 2,051 2.000 Disabled worker, spouse under full retirement age, and 1 or more children 70 1,915 3.972 Widowed parent and 2 children 48 2,551 3.000 Children of deceased workerb 1,168 1,041 1.319 Aged widow(er) alone 3,755 1,214 1.000 a A family means beneficiaries entitled on one worker's account.
b In most cases, the family includes a widowed parent whose benefits are withheld due to earnings.
D. Measures of Protection
- Coverage
About 161 million people will work in OASDI-covered employment in 2013.About 94 percent of workers in paid employment and self-employment are covered under the OASDI program.
- Benefit receipt among the elderly
As of December 31, 2012, about 89 percent of the population aged 65 and over were receiving benefits.
- Protection for survivors of young workers
About 96 percent of persons aged 20-49 who worked in covered employment in 2012 have acquired survivorship protection for their children under age 18 (and surviving spouses caring for children under age 16).
- Disability protection
About 91 percent of persons aged 21-64 who worked in covered employment in 2012 can count on monthly cash benefits if they suffer a severe and prolonged disability.
E. Operations of OASI and DI Trust Funds, Combined, in 2012
[In billions]
Calendar
yearFiscal
yearIncome $840.2 $837.8 Payroll tax contributions 589.5 585.7 Reimbursement from General Revenue 114.3 112.2 Taxation of benefits 27.3 27.5 Interest and other income 109.1 112.4 Expenditures 785.8 773.2 Benefit payments 774.8 762.3 OASI 637.9 627.2 DI 136.9 135.1 Railroad Retirement transfer 4.7 4.7 Administrative expenditures 6.3 6.3 Assets, end of period 2,732.3 2,717.9 Note: Totals may not equal the sums of rounded components.