Global View - Social Security A: B:

(C0163)

Well that was an interesting documentary! For sure! I didnt really understand some ofthe technical jargon they used inthe lm when they talked about social security in the US. Like what? Well, they mentioned how people put away money in something called a 401K? Yeah, I know it sounds weird, but a 401k is a type of retirement plan that allows employees to save and invest for their own retirement Through a you can authorize your employer to deduct a certain amount of money from your paycheck and invest it inthe plan Everyone tries to contribute as much as possible so that when you retire, you can rest peacefully on your nest egg. Thats interesting and logical I guess. In my country, we also have to contribute to a governmentrun retirement fund, but most people dont really trust itso they just invest in properties or things like that. That seems a bit unstable dont you think?
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A: B:

A:

B:

A:

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B:

Yeah, but corrupt governments inthe past have created distrust among banks and nancial institutions, so now people prefer to have money hidden in a jar or a piggy bank. Ive been thinking of doing that lately! I dont want some banker to run off with my money!

A:

Key Vocabulary

invest

principle verb, present perfect

spend money on something in order to get back more a US government program to protect certain groups

Social Security

proper noun, singular

Supplementary Vocabulary

pension

common singular

noun,

money paid at regular intervals from the government or a previous employer to a person following retirement or to their surviving dependents

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c 2009 Praxis Language Ltd.

disability income insurance

common noun, non-variable

nancial assistance to people who acquire a disability so that they can maintain a certain income level nancial assistance for the families of workers who die payments made to an unemployed worker by the goverment or employer during all or part of the period of unemployment a pension plan pays a dened sion/benet, but amount invested vary that penthe may

survivor benets

common plural

noun,

unemployment common noun, benets/ non-variable compensation

dened benet plan

common singular

noun,

dened contribution plan

common singular

noun,

a pension plan that has a dened amount to invest, but whose pension/benet depends on the success of those investments

Visit the Online Review and Discussion (text version).

c 2009 Praxis Language Ltd.