OASDI Definition & Meaning

OASDI

U.S. Government.

Old Age, Survivors, and Disability Insurance: a federal program that replaces some of the income lost to a worker or their survivors or dependents through the retirement, disability, or death of the worker: funded by compulsory contributions from earnings during employment. Compare Social Security ( def 1 ).

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Examples have not been reviewed.

The SSA had not yet responded to a request for an explanation of the significant increase in overpayments within OASDI.

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One of these codes is Fed OASDI/EE, and you might be surprised at exactly what this deduction code means.

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The Fed OASDI/EE is a percentage of your gross pay that fluctuates based on the rate of inflation.

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The Fed OASDI/EE tax is similar to the Fed MED/EE tax in that it funds a federal government program used to distribute money or services to citizens.

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Despite the fact that the Fed OASDI/EE is based on your income, it is not considered an income tax.

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