Social Security Flashcards
1
Q
- Signed into law 8/14/35
- to provide retirement insurance, survivor insurance, disability insurance for those who paid into the system
A
2
Q
- employee must earn at least 40 credits
For 2024, 1 credit is earned for every $1,730 in earnings each year. - employee can wen up to 4 credits a year.
A
3
Q
- the amount a retiree receives at FRA is their primary insurance amount (PIA)
- what is FRA?
- what is PIA?
FFA is a the age that an employee is entitled to receive 100% of their PIA. FRA depends on the year of birth.
A
