Academic journal article Social Security Bulletin

Social Security (OASDI)

Academic journal article Social Security Bulletin

Social Security (OASDI)

Article excerpt

Program Trends

* About 47.7 million persons received Social Security benefits for December 2004, an increase of 654,200 (1.4 percent) since December 2003. Sixty-nine percent were retired workers and their spouses and children, and another 14 percent were survivors of deceased workers. Seventeen percent were disabled workers and their spouses and children.

* Seventy-two percent of the 30.0 million retired workers received reduced benefits because of entitlement prior to full retirement age. Relatively more women (75 percent) than men (70 percent) received reduced benefits.

* The number of beneficiaries aged 65 or older rose from 32.1 million in 1999 to 33.7 million in 2004 (5 percent). Beneficiaries aged 85 or older increased at a greater rate during the 5-year period (9.9 percent) from 3,962,000 in 1999 to 4,355,000 in 2004. In 2004, 41,700 centenarians were receiving Social Security.

* More than 19 million women aged 65 or older received benefits for December 2004. About 7.5 million (38.5 percent) were entitled solely to a retired-worker benefit, and another 5.8 million (29.6 percent) were dually entitled to a retired-worker benefit and a wife's or widow's benefit. About 6.2 million (31.9 percent) were receiving wife's or widow's benefits only.

* More than 3 million children under age 18 received benefits, including 1,338,900 children of deceased workers, 1,487,900 children of disabled workers, and 277,200 children of retired workers.

* About 7.2 million persons received benefits based on disability-6,198,300 disabled workers, 759,300 disabled adult children, and 210,700 disabled widows and widowers. …

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