RICP - HS354 questions with 100% complete
solution A+ rated
1. COMP 8:
-Covers 165 million workers
Social
-Represents 39% of the income for the elderly
Security
Stats -Funded by payroll tax (FICA): 1.45% on all income, 6.2% up to wage
base
-Four funds: 2 SS (OASDI, DI) and 2 Medicare (Part A, Part B)
2. COMP 8: Addi- 0.9% additional tax on Wages, Comp & SE Income over
tional -$200k single
Medicare -$250k married
Surtax
3.8% Net INvestment Income Tax
-$125k single
-$250k MFJ
-40 quarters of coverage - max of 4 quarters per year
3. COMP 8:
Social
Security Eligibility - 1 quarter = $1,260 in comp (2016)
-Calculation includes 35 years of work history. (If you only have 30 years,
then you have 5 zeros)
4. COMP 8: Survivor
Spousal
Benefits
5. COMP 8:
Ex-Spouse
Bene- fits:
Spouse &
,RICP - HS354 questions with 100% complete
solution A+ rated
-50% of spouse's worker
benefit
-Spouse w/ worker benefits
must have claimed
-don't need any work
history within SS to qualify
for spousal benefits
-Benefits are reduced
(25/36 for the first 3
years and 5/12 for each
additional) for taking
early, but never receive
deferral credits
Spousal
-Marriage must have lasted
at least 10 years
-Divorced for at least 2
years
-Must be unmarried
-Worker only needs to be
eligible (does not have to
have claimed)
-Does not impact worker's
benefits or their total
family benefit
SURVIVOR
-Ex-spouse's are entitled to
survivor benefits according
to the same exact require-
, RICP - HS354 questions with 100% complete
solution A+ rated
10. COMP 8: Restrict- ed File
6. COMP 8:
Depen-
dent Benefits
7. COMP 8:
Family Max
SS Benefits
8. COMP 8: Gov't
Offset Provision
9. COMP 8:
Survivor
Benefits
Summa- ry
solution A+ rated
1. COMP 8:
-Covers 165 million workers
Social
-Represents 39% of the income for the elderly
Security
Stats -Funded by payroll tax (FICA): 1.45% on all income, 6.2% up to wage
base
-Four funds: 2 SS (OASDI, DI) and 2 Medicare (Part A, Part B)
2. COMP 8: Addi- 0.9% additional tax on Wages, Comp & SE Income over
tional -$200k single
Medicare -$250k married
Surtax
3.8% Net INvestment Income Tax
-$125k single
-$250k MFJ
-40 quarters of coverage - max of 4 quarters per year
3. COMP 8:
Social
Security Eligibility - 1 quarter = $1,260 in comp (2016)
-Calculation includes 35 years of work history. (If you only have 30 years,
then you have 5 zeros)
4. COMP 8: Survivor
Spousal
Benefits
5. COMP 8:
Ex-Spouse
Bene- fits:
Spouse &
,RICP - HS354 questions with 100% complete
solution A+ rated
-50% of spouse's worker
benefit
-Spouse w/ worker benefits
must have claimed
-don't need any work
history within SS to qualify
for spousal benefits
-Benefits are reduced
(25/36 for the first 3
years and 5/12 for each
additional) for taking
early, but never receive
deferral credits
Spousal
-Marriage must have lasted
at least 10 years
-Divorced for at least 2
years
-Must be unmarried
-Worker only needs to be
eligible (does not have to
have claimed)
-Does not impact worker's
benefits or their total
family benefit
SURVIVOR
-Ex-spouse's are entitled to
survivor benefits according
to the same exact require-
, RICP - HS354 questions with 100% complete
solution A+ rated
10. COMP 8: Restrict- ed File
6. COMP 8:
Depen-
dent Benefits
7. COMP 8:
Family Max
SS Benefits
8. COMP 8: Gov't
Offset Provision
9. COMP 8:
Survivor
Benefits
Summa- ry
