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Home Categories Social Security Cost of Living Adjustment (COLA) is an increase in Social Security benefits to counteract inflation. The National Average Wage Index (NAWI) tracks wage growth for US workers as a measure of inflation. Full Retirement Age (FRA) is the age you must be to receive full retirement benefits from Social Security. Old Age, Survivors and Disability Insurance (OASDI) is the official name for Social Security benefits. Social Security is a federal program in the United States that provides retirement and disability income to qualified people and their spouses, children, and death survivors. The Social Security Administration (SSA) oversees and administers the Social Security program in the United States. A Social Security Number is a numeric identifier assigned to US citizens and other residents to track income and determine benefits.