Sentences with phrase «average pension payment»

What's worse is that in 2017, the average pension payment took about $ 1,200 per student out of the classroom.

Another way to look at this question is how much the average pension payment can replace the employee's pre-retirement earnings.

Not exact matches

I have no debts whatsoever, plenty of cash savings, a very healthy retirement portfolio, a nice home all paid for, a good pension plus above average social security payments, so I am able to travel widely and stay in high end hotels.

Lord Hutton also recommended an end to generous final salary pension schemes - to be replaced with payments based on average lifetime earnings.

Pension payments are based on the 32 years he worked and the average of his five highest - paid fiscal years.

Westchester County, the New York suburb where household income is 53 percent above the U.S. average, wants to use its top credit rating to sell taxable bonds to finance pension contributions and avoid increasing the highest taxes in the country... It faces a $ 54 million payment to the state retirement plan in 2011, $ 78 million in 2012 and $ 163 million in 2015, said County Executive Robert Astorino, who's working to close a $ 166 million budget gap next year.

Biggs also converts these figures to total pension wealth and finds that the average full - career state worker can expect to receive $ 768,940 in pension payments over the course of their retirement.

Tier 2 offers worse benefits for new teachers: it has a higher minimum service requirement (up from five to 10 years, making it more difficult for new teachers to qualify for a minimum benefit), a higher normal retirement age (meaning teachers have fewer years to collect pension payments over a lifetime), a less generous pension formula (calculating the final average salary from the last eight years of service instead of just four), and a lower COLA.

Because pensions are based on an employee's final average salary, when districts increase salaries they're also increasing future pension payments.

For example, the average CPP benefit payment for all Canadian workers is $ 5,919 a year, compared to an average annual Ontario Teachers» Pension Plan of $ 42,900 (as of 2010.)

(5) provides for regulations to allow payment of pension to someone who does not have a yearly average because their pre-1974 earnings may have gone over the insurable limit

(3) provides for regulations to allow payment of pension to someone who has a yearly average of less than 39

The other qualifying conditions for payment of this pension are the same as for the standard rate pension, except that a partial pension is paid where the yearly average is between 5 and 23.