For Junior Paugh, the Grandfather, the Three-Legged Stool of Retirement

question 7

Multiple Choice

For Junior Paugh, the grandfather, the three-legged stool of retirement income consists of which of the following?

• A) employee pensions, health insurance, and Social Security
• B) 401k) plans, Medicare, and Social Security
• C) employee pensions, personal savings, and Social Security
• D) none of the above

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Definitions:

Traditional Health Insurance

A type of health insurance that typically involves paying a premium, meeting a deductible, and then paying a percentage of service costs, with many services having a co-pay.

PPOs

Preferred Provider Organizations; a type of health insurance plan that offers members a discount on healthcare services if they use providers in the plan’s network.

Older Workers Benefit Protection Act

A U.S. federal law that provides older workers with protection against age discrimination in benefits and employment practices.

Early-Retirement Waivers

Early-retirement waivers are agreements that allow employees to retire before the traditional retirement age, often with specific benefits or conditions.