In the year prior to retirement, a worker earned $20,000 and paid $5,000 in taxes on those earnings.His annual Social Security pension is $10,000 per year.It then follows that his net replacement rate is 50 percent.

Name: In the year prior to retirement, a worker earned $20,000 and paid $5,000 in taxes on those earnings.His annual Social Security pension is $10,000 per year.It then follows that his net replacement rate is 50 percent.
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The Answer is False

In the Year Prior to Retirement, a Worker Earned $20,000