A middle-income worker will retire in january 2017 in the, Ask an Expert

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A middle-income worker will retire in January 2017. In the year prior to retirement, her gross monthly earnings are $4,500. Her Social Security pension benefit will be $1,500 per month. Prior to retirement, she was subject to total taxes on her labor earnings amounting to 20 percent.

a. Calculate her gross and net-of-tax replacement rates following retirement.

b. Suppose the cash value of Medicare subsidies that she expects to receive during retirement amount to $4,000 per year. Recalculate the replacement rates including Medicare.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91774825

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