Question

• can you reduce/increase your social security payment by retiring early/late? ______
• what is the minimum age can you begin taking social security retirement benefits? _______

○ no; 67

○ yes; 62

○ yes; 67

○ no; 65

question 13 2.27 pts
______ is a plan commonly offered by firms with 1 to 10 employees or under by self - employed people.

○ 403(b)

○ employee stock ownership plan (esop)

○ 401(k)

○ simplified employee pension (sep):

Explanation:

First Question (Social Security)

• For the first part: Retiring early (before full retirement age) reduces Social Security payments, retiring late (after full retirement age) increases them, so the answer to "Can you reduce/increase..." is "Yes".
• For the second part: The minimum age to begin taking Social Security retirement benefits is 62 (early retirement age). So the correct option is the one with "Yes; 62".

• 403(b) is for non - profit organizations and public schools.
• ESOP is for employee ownership of company stock, not typically for small firms/self - employed.
• 401(k) is more common in larger businesses.
• Simplified Employee Pension (SEP) is designed for small businesses (1 - 10 employees) and self - employed individuals.

Answer:

B. Yes; 62

Question 13 (Retirement Plans)