QUESTION 15 Karen, a 64-year old senior who wants to retire tomorrow for her 65th birthday and to celebrate New Year's Eve, earned $4,000 working part-time during the year, 2018, which was taxed. She has earned 36 credits as of last year December 31 2017. How many Social Security credits did Liz earn for Social Security credit, provided that every $1260 of earnings entitled her to 1 credit, and will she be eligible to retire tomorrow, December 31, 2018, and claim Medicare and Social Security? 2, and she cannot retire and collect her benefits 3, and she cannot retire and collect her benefits 3, and she can retire and collect her benefits 4, and she can retire and collect her benefits QUESTION 16 Self-employed workers pay a Social Security tax rate that is twice that paid by employees because contributions of self- employed workers are not matched by an employer True False QUESTION 17 Retirement is the time in life when the major sources of income change from earned income to employer-based retirement benefits, private savings and investments, income from Social Security, and perhaps part-time employment True False QUESTION 18 When is the best time to consider purchasing an annuity with all or part of your retirement funds? a when you first sign up for a plan b. at age 30 c. at age 50 d. when you retire QUESTION 19 It is very difficult and nearly impossible to estimate your likely future Social Security retirement benefit True False