Question
Question 29 (10 points) Saved Harmon just turned 67 years old. His AIME is $5,197. Harmon's wife, Lolita, also just reached age 67 (lucky
Question 29 (10 points) Saved Harmon just turned 67 years old. His AIME is $5,197. Harmon's wife, Lolita, also just reached age 67 (lucky for you!). Her AIME is $3,113. Additional Information: Harmon & Lolita have no one else living in their home. The normal retirement age for both Harmon & Lolita is age 67. Harmon makes $3,000 a year doing odd painting jobs. The bendpoints and percentages of the PIA formula are; (90%, $861), (32 %, $4,101), and 15% of the remaining. Don't worry about COLA considerationsy Show your work. Be sure to answer both parts. Harmon & Lolita have just applied for Social Security retirement benefits. What are Harmon and Lolita's PIA amounts? How much will each of them receive as a monthly retirement benefit? Show all of your work. Again, ignore COLA considerations.
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