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: Social Security Benefits and Taxation Terms in this set (45) Luka is eligible to receive both spousal and retirement benefits. Which of the following is true? When an individual is dually eligible for Social Security benefits, they will only receive $7.08
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: Social Security Benefits and Taxation Terms in this set (45) Luka is eligible to receive both spousal and retirement benefits. Which of the following is true? When an individual is dually eligible for Social Security benefits, they will only receive
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CWP - Certified Wedding Planner
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CWP - Certified Wedding Planner
: Social Security Benefits and Taxation
Terms in this set (45)
Luka is eligible to receive both spousal and retirement benefits. Which of the following is true? When an individual is dually eligible for Social Security benefits, they will only receive the larger of the two benefits.
The corr...
Quiz 9/3: Social Security Benefits and Taxation
Jeremiah
Terms in this set (45)
Luka is eligible to receive both spousal and When an individual is dually eligible for Social Security benefits, they will only receive
retirement benefits. Which of the following is the larger of the two benefits.
true? The correct answer is: Luka will receive the larger of the two benefits.
Social Security retirement benefits are only available to covered workers who are fully
A covered worker must be _____ insured to
insured upon retirement.
receive Social Security retirement benefits.
The correct answer is: Fully
The full retirement age is 65 for covered workers who were born in 1937 or earlier. The
full retirement age increases for individuals born between the years of 1938 to 1959 with
What is the full Social Security retirement
the maximum retirement age set at age 67 for covered workers who were born in 1960
age for a person born after 1960?
or later.
The correct answer is: 67
The old name for Social Security is OASDI, or Old Age, Survivors, and Disability
Social Security is also referred to as: Insurance.
The correct answer is: OASDI
The disability must be total and the following must be met: the covered worker cannot
do the work they did prior to the disability; the covered worker cannot do other work
Which of the following is false regarding
because of physical or mental conditions; and the disability has already lasted or will
eligibility for Social Security disability
last for at least 12 full months, or the disability is expected to result in death.
benefits?
The correct answer is: The disability must have lasted or will last for at least 6 full
months or be expected to end in death.
Social Security benefits are based on how long a covered worker has worked
How are Social Security benefits
throughout their life.
determined?
The correct answer is: How long a covered worker has worked throughout their life
In order to obtain fully insured status, a In order to obtain fully insured status, a covered worker must accrue one quarter of
covered worker must accrue one quarter of coverage each calendar year after the age of 21 for a total of 40 quarters and minimum
coverage each calendar year after the age of six quarters, upon the earliest of: the year prior to reaching age 62; the year of
of 21 for a total of 40 quarters and minimum disability onset; or the year prior to death.
of six quarters, upon the earliest of: The correct answer is: All of the above
How long is the reduction in Social Security This reduction remains all through retirement.
retirement benefits effective for a person The correct answer is: All throughout retirement
who retires early?
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