The most common form of "forced savings" in the U.S.is:
A)Social Security.
B)FICA.
C)unemployment Insurance.
D)Medicare.

Question

Quizplus · Accepted Answer

Social Security is a government program that requires employees and employers to contribute a portion of their income to a retirement savings account throughout their working years. It is mandatory for all working individuals and therefore, could be considered a form of forced savings. FICA (Federal Insurance Contributions Act) is the tax used to fund Social Security and Medicare, so option B and D are not the most common forms of forced savings. Unemployment insurance is a form of insurance that provides temporary financial assistance to workers who have lost their jobs through no fault of their own, and is not a form of forced savings.

The Most Common Form of "Forced Savings" in the U