Sam, age 35, and kathy, age 33, are married and have a son, age 1. sam is employed as an accountant and earns $60,000 annually.

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Sam, age 35, and kathy, age 33, are married and have a son, age 1. sam is employed as an accountant and earns $60,000 annually.

kathy is an associate professor of finance at a large university and earns $120,000 annually. both are currently and fully insured under the oasdi program. assume you are financial planner who is asked to give them advice concerning oasdi and other social insurance programs. answer each of the following questions based on the following situations. treat each situation separately. a. sam is killed instantly in an auto accident. would kathy and their son be eligible for receive oasdi survivor benefits?b. kathy has laryngitis that damaged her vocal cords.e. sa po as a result, she can no longer teach. she is offered a research position in the business research bureau of the university where she is employed. to what extent if any would kathy be eligible to receive oasid disability benifits?c. a deranged student fired a pistol at kathy because u- he her di of ia- she gave him a grade of d+. as a result, kathy was seriously injured and is expected to be off work for at least one year while she is recovering. to what extent, if any, would existing social insurance pro- grams in the united states provide income during the period of temporary disability? d. sam would like to retire at age 62 and still work part-time as an accountant. he has been informed that the oasdi earnings test would be relevant in his case. explain how the earnings test might affect his decision to work part-time after retirement. e. sam resigned from his job to find a higher-paying position. explain whether sam could receive unem- ployment insurance benefits during the period of temporary unemployment before he finds a new job.

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1 answer:

shusha [124] · Answer 1 · 2023-09-05T19:19:53+03:00

Sam, age 35, and Kathy, age 33, are married and have a son, age; The Financial stands resolve will be

To the extent that Sam's wife qualifies for OASDI payments in the event of his death due to an automobile accident, she will receive them.

Kathy's vocal cord is a significant contributor to her income since she is a teacher, but she can only get disability benefits if she has been selected for them.

Kathy will be eligible for temporary disability benefits under the United States' social insurance program since she was injured on the job and has opted into the program.

Sam's benefits will be reduced by $1 for every $2 he earns over the $17040 level in 2018; however, he will not see a decrease in his benefits if his income is between $45,306 and the maximum allowable amount of $45,306.

Sam's desire for a greater salary is not a qualifying cause for unemployment insurance.

<h3>Who is a financial planner?</h3>

Generally, a financial planner is simply defined as one form of a financial adviser, the financial planner, focuses on helping clients develop and implement strategies for achieving their long-term financial objectives.

In conclusion, Finance is managing substantial resources, as practiced by governments or major corporations.