OASDI, or theOld-Age, Survivors, and Disability Insurance, is the official name for the Social Security benefits program. OASDI is funded by the FICA tax. When Do Social Security Payroll Deductions Stop? The Social Security tax rate is 6.2% of net earnings, but only for earnings below the ...
survivors and disability insurance program. In addition, your Social Security deduction includes a portion for hospital insurance. The OASDI base income limit frequently goes up, but not necessarily every year. For example, in 2008, the limit came to $102,000...
OASDI (6.2%) - Old Age, Survivor and Disability portion of the tax is paid on wages up to the maximum covered wage base for the year. This cap changes every year, so make sure you verify the current level. (For 2003 it is $87,000). HI (1.45%) - The hospital insurance or Medica...