1. Use the following case facts to answer the next three questions.

Courtney just finished her last year of employment in 2020 before turning 66 and 2 mo (full retirement age) in 2021 when she plans to begin withdrawing Social Security retirement benefits. Her Average Indexed Monthly Earnings (AIME) is $4,000. The bend amounts in 2021 are $996 and $6,002. The benefits rates between the bend amounts are 90%. 32%.and 15%.

Which of the following is closest to what Courtney's monthly retirement benefit would be in 2021 if she retired at her full retirement age?

$2.427

$1.111

$1.858

2. Which of the following is true regarding SIMPLE IRAS?

A. To establishaSIMPLEIRA an employer may not have more than 50 total employees with earnings at least $5.000 in the previous year

B. Adistribution from a SIMPLE IRA during the frst two years of an employee's

participation that is subject to the early withdrawal penalty will pay a 25% penalty tax

C. A participantmustearn the right to employer contributions either through no later than2-6 year graduated vesting or 3 year cliff vesting