An account included in the Social Security Trust Fund which pays benefits to retired workers, their dependents and their survivors . The fund receives deposits from the Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act (SECA) to pay monthly benefits. The funds are deposited in the fund on every business day. With this contribution the Social Security Administration does not need to request money from Congress to pay benefits. Excess funds are invested in Federal securities.
Related information about Old-Age and Survivors Insurance Trust Fund:
- Old-Age & Survivors Insurance Trust Fund
The Old-Age and Survivors Insurance Trust Fund is a separate account in the United States Treasury. A fixed proportion (dependent on the allocation of tax rates ...
- Social Security (United States) - Wikipedia, the free encyclopedia
Tax deposits are formally entrusted to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital ...
- Social Security Trust Fund - Wikipedia, the free encyclopedia
1388-623, provided that: Notwithstanding any other provision of law, the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund ...
- Old-Age And Survivors Insurance Trust Fund Definition | Investopedia
An account within the Social Security Trust Fund used to pay benefits to retired workers, the beneficiaries and their children. The Old-Age and Survivors ...
- What is Old-Age and Survivors Insurance Trust Fund? definition and ...
Definition of Old-Age and Survivors Insurance Trust Fund: An account included in the Social Security Trust Fund which pays benefits to retired workers, their ...
- Social Security Report - Department of the Treasury
Apr 23, 2012 ... A1 presents a statement of the income and disbursements of the. Federal Old- Age and Survivors Insurance Trust Fund in calendar year 2011, ...
- SOCIAL SECURITY ADMINISTRATION - The White House
For payment to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, as provided under sections 201(m), ...
- 42 USC § 401 - Trust Funds | LII / Legal Information Institute
There is hereby created on the books of the Treasury of the United States a trust fund to be known as the “Federal Old-Age and Survivors Insurance Trust Fund”.