BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A program that helps supplement the high medical costs after retirement.
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A supplemental retirement program where the government sends a check to a retiree at the Age of 67. (You can begin receiving at 62, however it will be at 70%)
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A benefit program that is taxable by the State Government.
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A program that sustains and secures
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Detailed explanation-1: -needs-based program funded by the U.S. Treasury general fund to provide payments to people with limited income and resources who are age 65 or older, blind, or disabled.
Detailed explanation-2: -The Social Security Retirement benefit is a monthly check that replaces part of your income when you reduce your hours or stop working altogether. It may not replace all your income so it’s best to identify other ways to pay for your monthly expenses as you age. Learn how to apply.
Detailed explanation-3: -Social Security benefits are typically computed using “average indexed monthly earnings.” This average summarizes up to 35 years of a worker’s indexed earnings. We apply a formula to this average to compute the primary insurance amount (PIA). The PIA is the basis for the benefits that are paid to an individual.