There are two parts to FICA:
A)old age benefits and workers' compensation.
B)retirement and income tax withholdings.
C)OASDI and Medicare.
D)defined pension and Medicare.

Question

Quizplus · Accepted Answer

FICA stands for Federal Insurance Contributions Act, which includes two components: OASDI (Old Age, Survivors, and Disability Insurance) and Medicare. OASDI provides retirement, survivor, and disability insurance benefits, while Medicare provides health insurance benefits to individuals over 65 and those with certain disabilities.

There Are Two Parts to FICA