Social Security Program Fact Sheet
Our semi-annual Fact Sheet on the Old-Age, Survivors, and Disability Insurance
(OASDI) Program provides recent information on the number of beneficiaries and their
average benefit amount, measures of protection provided by Social Security, and
trust fund financial data. The latest Fact Sheet is shown below.
To print the Fact Sheet, we recommend the PDF version.
FACT SHEET ON THE OLD-AGE, SURVIVORS, AND DISABILITY INSURANCE PROGRAM
A. Beneficiaries in Current-Payment Status, June 30, 2024
Type of benefit | Number
of beneficiaries [In thousands] |
Monthly rate a [In millions] |
Average monthly amount a |
||
Total | 67,870 | $120,882 | b | ||
Retired workers and their family members, total | 53,758 | 100,515 | b | ||
Retired workers | 51,182 | 98,181 | $1,918 | ||
Spouses | 1,879 | 1,712 | 911 | ||
Children | 697 | 623 | 893 | ||
Survivors of deceased workers, total | 5,800 | 8,745 | b | ||
Children | 2,036 | 2,250 | 1,105 | ||
Widowed mothers and fathers with child beneficiaries in their care | 102 | 130 | 1,280 | ||
Aged widow(er)s, and aged parents | 3,465 | 6,181 | 1,784 | ||
Disabled widow(er)s | 198 | 183 | 928 | ||
Disabled workers and their family members, total | 8,312 | 11,621 | b | ||
Disabled workers | 7,207 | 11,082 | 1,538 | ||
Spouses | 84 | 36 | 421 | ||
Children | 1,021 | 503 | 493 | ||
a Benefit amounts represent the monthly amount due to beneficiaries in current-payment status for June 30, 2024. These amounts exclude any adjustments to benefits for retroactive payments and certain payment withholding that may be attributable to eligibility in prior months. Therefore, these data do not represent total benefits paid from the trust funds. | |||||
b Because the benefit amounts for workers and for the various types of family members and survivors are based on different proportions of the worker's benefit, average monthly amounts for groups of these different kinds of beneficiaries are not meaningful. |
B. Selected Categories of Beneficiaries (Included Above) in
Current-Payment Status, June 30, 2024
Current-Payment Status, June 30, 2024
Type of benefit | Number
of beneficiaries [In thousands] |
Monthly rate a [In millions] |
|||
Disabled beneficiaries (OASDI)—Workers, disabled children aged 18 and over, and disabled widow(er)s | 8,557 | $12,463 | |||
Children (OASDI) | 3,754 | 3,377 | |||
Student children | 77 | 80 | |||
Disabled children aged 18 and over | 1,153 | 1,197 | |||
Children under age 18 | 2,524 | 2,100 | |||
Survivor children and widowed mothers and fathers | 2,138 | 2,381 | |||
Beneficiaries aged 62 and over (OASDI) | 59,115 | 110,237 | |||
Beneficiaries aged 65 and over (OASDI) | 54,406 | 103,349 | |||
a Benefit amounts represent the monthly amount due to beneficiaries in current payment status for June 30, 2024. These amounts exclude any adjustments to benefits for retroactive payments and certain payment withholding that may be attributable to eligibility in prior months. Therefore, these data do not represent total benefits paid from the trust funds. |
C. Average Monthly Family Benefits in
Current-Payment Status, June 30, 2024
Current-Payment Status, June 30, 2024
Selected family a group | Number
of families [In thousands] |
Average family benefit b |
Average number of beneficiaries per family |
Retired worker alone | 48,787 | $1,911 | 1.000 |
Retired worker and spouse, aged 62 and over | 1,774 | 3,030 | 2.000 |
Disabled worker, spouse under normal retirement age, and 1 or more children | 21 | 2,739 | 3.868 |
Widowed parent and 2 children | 30 | 3,607 | 3.000 |
Children of deceased worker c | 1,343 | 1,441 | 1.323 |
Aged widow(er) alone | 3,292 | 1,782 | 1.000 |
a A family means beneficiaries
entitled on one worker's account. b Benefit amounts represent the monthly amount due to beneficiaries in current payment status for June 30, 2024. These amounts exclude any adjustments to benefits for retroactive payments and certain payment withholding that may be attributable to eligibility in prior months. Therefore, these data do not represent total benefits paid from the trust funds. c In most cases, the family includes a widowed parent whose benefits are withheld due to earnings. |
D. Measures of Protection
- Coverage
We estimate that about 184 million people will work in OASDI-covered employment in 2024.We estimate that about 94 percent of workers in paid employment and self-employment are covered under the OASDI program.
- Benefit receipt among the elderly
As of June 30, 2024, we estimate that about 86 percent of the population aged 65 and over were receiving benefits. - Protection for survivors of young workers
We estimate that about 96 percent of persons aged 20-49 who worked in covered employment in 2023 have acquired survivorship protection for their children under age 18 (and surviving spouses caring for children under age 16). - Disability protection
We estimate that about 90 percent of persons aged 21-64 who worked in covered employment in 2023 can count on monthly cash benefits if they suffer a severe and prolonged disability.
E. Operations of OASI and DI
Trust Funds, Combined, in 2023
[In billions]
[In billions]
Calendar year |
Fiscal year |
|||||
Income | $1,350.7 | $1,332.9 | ||||
Net payroll tax contributions | 1,233.1 | 1,215.5 | ||||
Transfers from General Revenue | a | 0.2 | ||||
Taxation of benefits | 50.7 | 50.8 | ||||
Interest and other income | 66.9 | 66.5 | ||||
Cost | 1,392.1 | 1,354.6 | ||||
Total benefit payments | 1,379.3 | 1,341.8 | ||||
OASI | 1,227.4 | 1,192.1 | ||||
DI | 151.9 | 149.6 | ||||
Railroad Retirement transfer | 5.6 | 5.6 | ||||
Administrative expenditures | 7.2 | 7.1 | ||||
Asset reserves, end of period | 2,788.5 | 2,816.7 | ||||
a Less than $50,000,000. Note: Totals may not equal the sums of rounded components. |