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About: Social Security (United States)     Goto   Sponge   NotDistinct   Permalink

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In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). The original Social Security Act was enacted in 1935, and the current version of the Act, as amended, encompasses several social welfare and social insurance programs. The average monthly Social Security benefit for August, 2022 was $1,547. The total cost of the Social Security program for the year 2021 was $1.145 trillion or about 5 percent of U.S. GDP.