The RSDI (Retirement, Survivors and Disability Insurance) is considered as the largest among the income-maintenance programs of the Federal Government. Managed by the Social Security Administration, such insurance benefit program aims to provide monthly financial support to those who have lost their income due to retirements, disabilities or death of a family provider.
Originally, this was initiated in 1935 to focus on helping retirees and survivors of a deceased worker. It was only then in 1956, it was expanded to cover disabled workers, if they meet the requirements set by the SSA.
As of now, the RSDI program covers more or less 96% of the occupations in our country. This was brought about by the passage of two laws that compel the workers to pay their Social Security taxes, the Federal Insurance Contribution Act and Self-Employment Contribution Act, in order to finance the program.
In the end of 1999, little less than 45 million beneficiaries were given monthly financial assistance; 62% were retirees, 10% were disabled employees and the rest were those who spouses, children and parents of those retirees, disabled and deceased members.
To become eligible for the Social Security0s RSDI program, an individual must be fully insured based on the […]

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