June 30 2024 Fact Sheet on Social Security

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

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

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, and that increases to about 92 percent for those aged 75 and older.

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 children they may have 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]

			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.

Social Security Program Fact Sheet