Sam, age 35 , and Kristy, age 33 , are married and have a extent,...
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Sam, age 35 , and Kristy, age 33 , are married and have a extent, if any, would Kristy be eligible to receive one-year-old son. Sam is employed as an accountant and OASDI disability benefits? earns $80,000 annually. Kristy is a professor of finance c. A deranged student fired a pistol at Kristy because at a large state university and earns $160,000 annually she gave him a grade of D. As a result, Kristy was during the academic year. Both are currently and fully seriously injured and is expected to be off work for insured under the OASDI program. Assume you are a at least a year while she is recovering. To what financial planner who is asked to give them advice con- extent, if any, would existing social insurance procerning OASDI and other social insurance programs. grams in the United States provide income during Answer each of the following questions based on the the period of temporary disability? following situations. Treat each situation separately. d. Sam would like to retire at age 62 and still work a. Sam is killed instantly in an auto accident. To what part time as an accountant. He has been informed extent, if any, would the surviving family members that the OASDI earnings test would be relevant in be eligible to receive OASDI survivor benefits? his case. Explain how the earnings test might affect b. Kristy has laryngitis that damaged her vocal cords. his decision to work part time after retirement. As a result, she can no longer teach. She is offered a e. Sam resigned from his job to find a higher-paying research position in the business research bureau of position. Explain whether Sam could receive unemthe university where she is employed. To what ployment insurance benefits during the period of temporary unemployment before he finds a new job
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