Bertha is considering taking an early retirement offered by

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Bertha is considering taking an early retirement offered by her employee. She would receive 3,000 per month, indexed for inflation. However, she would not longer be able to use the company's health facilities and she would be required to pay her hospitalization insurance of 8000 each year. Betty and her husband will file a joint return and take the standard deduction. She currently receives a salary of 55,000 a year, and her employer pays for all of her hospitalization insurance. If she retires she will spend 300 less each month for commuting and clothing. Bertha and her husband have other sources of income and are in and will remain in the 25% marginal tax bracket. She currently pays social security tax of 7.65% on her salary, but her retirement pay would not be subject to this tax. she and her husband could live well if her after tax retirement income was at least 50% of her current income. Betty would like to know whether she should accept the early retirement.

Reference no: EM13586217

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