Simon Legree is a 35-year-old married man with a wife, Andrea, aged 33.
They have a one-year-old son named Aaron. Simon is employed as a cost accountant at Mercy Hospital and earns $50,000. 00 annually. Andrea is an associate professor of finance at State University and earns $80,000. 00 annually.
Simon is killed in an automobile accident. To what extent, if any, would the surviving family members be eligible to receive OASDI survivor benefits? Survivors' benefits are paid to family members when a worker dies.The payments are anticipated to help and ease the financial strain caused by the loss of the worker's income. Under spousal and survivor benefit, Simons surviving family are entitled to the Social security benefit formula that gives benefits to the beneficiary's most qualified spouse and survivors without additional contributions. Social security redistributes income to qualified spouses, divorced spouses, and survivors hence providing a partial explanation for difference in redistribution by gender and education. Andrea has laryngitis that damaged her vocal cords.
As a result she can no longer teach. She is offered a research position in the business research bureau of the State University where she is employed. To what extent, if any, would Andrea be eligible to receive OASDI disability benefits? Seriousness of the disability is what justifies the awarding of benefits. Social security administration determine whether the injuries is so serious that affects the basic work activity and if the result is positive, the worker medical information is compared with the Listing of Impairment which acts as the guidelines.If the condition is contained in the list, the benefit will be approved, but if the impairment is less severe, and the social Security administration finds the impairment cannot prevent doing work present in a certain area, the application will be denied. Guidelines which combine applicants remaining capability with the factor of age, education and experience classify work into three types: sedentary work, light work, and medium work which if the SSA determines that an applicant can perform one of these types of work, it will deny benefits.
In the case Andrea, she cannot get the benefits unless she was disabled to the extent of not working anymore. But she can appeal this decision and ask for a hearing in which to present further evidence, including personal testimony. A deranged student fired a handgun at Andrea because she gave him a D+. (Don't get any ideas, students. This is only make-believe.
) As a result Andrea was seriously injured and is expected to be off work for a least one year while she is recovering.To what extent, if any, would existing social insurance in the U. S. provide income during the period of temporary disability? Social security provides economical protection for the people of all ages as a protection package to reduce family instability resulting from death, disability and old age under a social insurance program. The program guard people from falling into poverty and providing financial security to the spouse and family of the disabled/deceased.
Andrea will be getting her income as long as she is recovering and she is off duty because of injuries. Simon 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, if any, might affect his decision to work part-time after retirement If Simon retire but continue working as part-time employee he will be referred as scaled worker under the OASDI program.Scaled workers are taken into account changes in the earning level by age as well as period of unemployment/ withdrawal from the labor force. Relative level of earning, distribution of actual benefit level will be focused.
This earning information reflects the earning level of definite worker over his/her career. Because scaled earning patterns focuses earnings rather later in a career, the results are slightly higher internal real rates of return under the OASDI program but a little low accumulations for individual accounts.Simon resigned from his job to find a higher-paying position. Explain whether Simon would receive unemployment insurance benefits during the period of temporary unemployment before he finds a new job. Simon receives unemployment insurance benefits because he have already paid taxes up the taxable wages based with employer in a calendar year and must pay it again if he loose job or resign.
Those who lose a job or work additional hours at a second job are also more likely to pay taxes on a higher fraction of earnings.
