Panama City Reporter

There were 49,170 total OASDI retired beneficiaries in Panama City in 2018, a 3.1% increase over 2017, which had 47,695 total retired beneficiaries, according to the official Social Security Administration website.

The Old-Age, Survivors, and Disability Insurance (OASDI) 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.