Which Statement Is NOT True

Multiple Choice

Which statement is NOT true?

A) In 2019, the payroll tax was 12.4% of wage earnings up to a maximum of $132,900.
B) If you retire at age 67, you will get larger monthly Social Security checks than if you retire before the age of 67.
C) The money you contribute to FICA is yours, to be given back to you when you retire.
D) Your Social Security benefits are determined by a formula based strictly on your lifetime contributions.