Final answer:
The correct option is A. OASDI stands for Old Age Survivors and Disability Insurance, and it is the official name for the Social Security program in the United States. It consists of three components: old age benefits, survivor benefits, and disability benefits.
Step-by-step explanation:
The acronym OASDI stands for Old Age Survivors and Disability Insurance. It is the official name for the social insurance program commonly known as Social Security in the United States. OASDI consists of three components: old age benefits, survivor benefits, and disability benefits.
The old age benefits are monthly retirement benefits provided to individuals who are 65 years old or older. Survivor benefits are paid to the spouse, dependent children, or parents of a deceased worker. Disability benefits are provided to individuals who are unable to work due to a disability. OASDI is primarily funded through a dedicated 12.4% payroll tax, with contributions made by both employees and employers. In 2010, around 157 million people paid into the program, while 54 million received benefits.