Old-Age, Survivors, and Disability Insurance Programs
Summary
The “Old-Age, Survivors, and Disability Insurance” program, often called “OASDI”, is the combination of two Trust Funds: The Old-Age and Survivors Trust Fund (OAS) and the Disability Insurance Trust Fund (DI), collectively known as the OASDI Trust Fund, though it officially and formally comprises two distinct trust funds.
The “Social Security Act” is Pub. L. 74-271 (Social Security Act; Vol. 49, page 620) enacted Aug. 14, 1935, at ch. 531, 49 Stat. 620, as amended. Title II of that Act is classified to the U.S. Code generally to subchapter II (§401 et seq.) of chapter 7 of Title 42, The Public Health and Welfare.
GAO Glossary of Terms and Definition (September 2005)
Old-Age, Survivors, and Disability Insurance Programs
Though the GAO Glossary does not specifically define the term “Old-Age, Survivors, and Disability Insurance Programs”, those two Trust Funds are referred to in the entry for “Off-Budget” as follows (emphasis added):
Those budgetary accounts (either federal or trust funds) designated by law as excluded from budget totals. As of the date of this glossary, the revenues and outlays of the two Social Security trust funds (the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund) and the transactions of the Postal Service are the only off-budget accounts. The budget documents routinely report the on-budget and off-budget amounts separately and then add them together to arrive at the consolidated government totals.
Section 13302 of the Budget Enforcement Act of 1990
Section 13302 of the Budget Enforcement Act of 1990 includes the following related definitions for OASDI:
(c) Definitions.—For purposes of this subsection:
(1) The term “OASDI benefits” means the benefits under the old-age, survivors, and disability insurance programs under title II of the Social Security Act.
(2) The term “OASDI taxes” means—
(A) the taxes imposed under sections 1401(a),[1] 3101(a),[2] and 3111(a)[3] of the Internal Revenue Code of 1986, …
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[2] 26 U.S.C. 3101(a).
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