Question

What ages are included under Retired dependents and are considered too old to have jobs and contribute to the economy?

A) 45-60 years
B) 61-75 years
C) 76-90 years
D) 91-105 years

Answer 1

Retired dependents generally encompass individuals 65 years and older, who are eligible for Social Security and Medicare, signifying their retirement phase. The full retirement age is gradually increasing to 67 due to demographic trends and the rising dependency ratio.

Step-by-step explanation:

The ages considered under Retired dependents are typically those 65 years and older.

At this age, individuals are generally eligible for federal benefits such as Social Security and Medicare, signifying their transition into retirement.

The increase in full retirement age from 65 to 67, which will be complete by 2027, reflects changing economic and demographic trends.

This shift recognizes that many people are continuing to work past the traditional retirement age.

Meanwhile, the dependency ratio takes into account the growing economic impact of an aging population, particularly as the baby boomers reach retirement age, creating a heavier burden on the younger workforce.