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Some retirees find themselves going back to work. Rising financial costs force some people back to work, while others still want to be a part of a work community. Working also provides a sense of ...
Lump sum vs. annuity: 6 factors to consider when making your decision. Everyone’s financial situation is different, so it’s important to consider a few key factors — such as tax implications ...
IBM’s switchover scenario provides a helpful example for understanding how a more widespread pension system would work. Pensions are not replacing the 401(k) accounts altogether; instead, they ...
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
Changes from the “Tier I” pension law include raising the minimum eligibility to draw a retirement benefit to age 67 with 10 years of service, initiating a cap on the salaries used to calculate retirement benefits, and limiting cost-of-living annuity adjustments to the lesser of 3 percent or half of the annual increase in the Consumer Price ...
Most new federal employees hired on or after January 1, 1987, are automatically covered under FERS. Those newly hired and certain employees rehired between January 1, 1984, and December 31, 1986, were automatically converted to coverage under FERS on January 1, 1987; the portion of time under the old system is referred to as "CSRS Offset" and only that portion falls under the CSRS rules.
The best retirement age is the one at which you can live comfortably and enjoy life. Use this guide to start figuring out when you can retire.
A pension buyout (alternatively buy-out) is a type of financial transfer whereby a pension fund sponsor (such as a large company) pays a fixed amount in order to free itself of any liabilities (and assets) relating to that fund. The other party, usually an insurer, receives the payment but takes on responsibility for meeting those liabilities.