Social Security, Officially Known as Old Age and Survivors Insurance

Multiple Choice

Social Security, officially known as Old Age and Survivors Insurance (OASI) ,

A) collects funds from current workers and invests them in order to provide these workers with a stream of income during the retirement phase of life.
B) is based on the same principles as private insurance programs.
C) is an intergenerational income transfer program.
D) is a voluntary savings program run by the government.