R - Government Programs Lesson

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word art filled with retirement centric words The U.S. government offers retirees two programs - Social Security and Medicare - that help to ensure that they have some retirement income and basic medical coverage after leaving the workforce. As we learned previously, both of these programs are funded through payroll taxes paid by both employees and the employers. On a typical pay stub, employees pay 6.2% of their income to FICA, which is Social Security. In return, retirees receive a set benefit based on their earnings. Medicare costs employees another 1.45% of each paycheck. Through this program, retirees can receive health care coverage and prescription medications. Review the presentation below to learn more about government retirement benefits.

Government Programs Presentation

 

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