Overview#
Social Security (
SSI) or more formally
Old-Age, Survivors, and Disability Insurance (
OASDI) is a
Government Benefit that was created by the
Social Security Act in
1935 and is administered by the
Centers for Medicare and Medicaid ServicesTo qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant's benefits are based on the wage earner's contributions.
Social Security is funded by Employee Payroll Tax and from a matching Tax paid by the employer
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