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What is the American Social Security Trust Fund?
In the United States, there are only three kinds of social insurance plans, namely, social endowment insurance (OASDI) plan, social medical insurance (Medicare) plan and federal/state unemployment insurance plan. Accordingly, the payment income and expenditure of various plans are recorded and managed by the three major funds in charge of the Ministry of Finance. These three funds are: (1) social endowment insurance fund. Americans call it "social security trust fund", which literally translates as "old age, survivors and disability insurance trust fund" (also known as OASDI trust fund). It consists of two sub-funds: OASI Trust Fund and Direct Investment Trust Fund. OASI Trust Fund is an old-age and survivors' insurance trust fund, which was established according to Article 20 1 of the Amendment to the Social Security Law. The amendment also established the Trust Fund Trusteeship Committee. OASI came into effect on June 1 940+1October1day, replacing the pension reserve account established according to the Social Security Law of June 1935. OASI Trust Fund provides automatic financial expenditure authorization, and pays monthly benefits to the beneficiaries of retired workers, their spouses and children, and the survivors of deceased disabled workers. The trust fund of disability insurance, that is, the trust fund of disability insurance, was established according to the amendment of Social Security Law 1956. DI was implemented on 1 957 65438+1October1. The Disability Insurance Trust Fund also provides automatic financial expenditure authorization and pays monthly benefits to the beneficiaries of disabled workers, their spouses and children. (2) Social medical insurance fund. Americans call it a medical insurance trust fund. It also consists of two sub-funds: hospitalization trust fund and supplementary medical insurance trust fund. 1965 "health insurance for the elderly" in the social security amendment bill established the medical insurance project. The medical insurance plan consists of two parts: Part A, hospitalization insurance (HI), which mainly provides hospitalization and related services for inpatients; Part B, namely Supplementary Medical Insurance (SMI), mainly provides payment for doctors and outpatient services. Since June 65438+1 October12006, SMI has added a new member-Part D, namely prescription drug plan, which mainly provides new prescription drug benefits. Therefore, HI trust fund corresponds to part a plan; SMI Trust Fund corresponds to Part B and Part D Subplans. (3) Federal/State Unemployment Insurance Fund. Also known as the UI Trust Fund, it mainly consists of three accounts: the Federal Employment Insurance Management Account (ESAA), the Federal Supplementary Unemployment Insurance Account (EUCA) and the Federal Unemployment Account (FUA). Different from the above two types of trust funds, the unemployment insurance system in the United States is a social insurance plan jointly managed by the federal government and the state government. Among them, the unified Federal Unemployment Insurance Law is implemented by the Employment and Training Administration and the Unemployment Insurance Service Bureau under the Ministry of Labor; According to the Unemployment Insurance Law, each state is specifically responsible for its implementation.