Social Security Program: Life Scenarios
The Old Age, Survivors, and Disability Insurance (OASDI) program of the Social Security Administration provides a bedrock of support for many persons in need in the United States. In particular, this social insurance program—known colloquially as the Social Security program—provides guaranteed financial assistance for persons who have retired (Old Age), dependents of persons who are deceased (Survivors), and persons who have become disabled, as well as their dependents (Disability). Payments (known as FICA taxes) made from the earnings of workers in jobs covered by the Social Security system constitute the premiums for this social insurance program. Although eligibility criteria (e.g., retirement age, type of disability) have been changed in the program since its inception in 1935, changes of these types require both Congressional action and Presidential approval. As the bulging Baby Boom cohorts (persons born in the period 1946-1964) approach retirement age, concern and policy discussions about future solvency of the system increase.
To enhance public understanding of the many types of assistance the Social Security program provides, the Joint Center for Political and Economic Studies has created a series of life scenarios containing examples of how the Social Security program can benefit eligible individuals and their families. To view these scenarios by type, select the appropriate category below. If you would like to submit a Social Security scenario to be considered for posting on our site, send an email to dhuff@jointcenter.org. Please put Social Security Life Scenarios in the subject line.
Scenarios about Social Security Disability Insurance
Scenarios about Social Security Retirement Benefits
Scenarios about Social Security Survivors’ Benefits
Scenarios about Newly Employed Workers
Scenarios about Determinants of Benefit Levels