Sentences with phrase «benefit upon retirement»

In your case I'm assuming the extra money paid every 2 weeks is less than the total pension benefit upon retirement?

In addition, being compliant helps your nanny become or stay eligible for social security and Medicare benefits upon retirement.

The authors of a new Education Next study find that while superintendents contribute 53 percent more to pension plans over their career span than senior career teachers, their expected benefits upon retirement are 89 percent higher than those of teachers.

Similar to an IRA, the TSP allows federal employees to contribute a percentage of their annual income to a tax - deferred account that will pay out along with annuity benefits upon retirement.

Not exact matches

If you will not have enough money in either a traditional IRA or a Roth IRA to support you upon retirement and you're perhaps looking to Social Security to give you that boost, it's possible that you may have to pay taxes on some of your benefits.

Current retirees can collect as early as age 62, but their benefit will be permanently reduced by a percentage based on the number of months before they reach full retirement age, which ranges from age 65 to 67, depending upon birth year.

Here's the thing: Retirement income, whether from pensions, individual retirement accounts or annuities, is taxed based upon the state you reside in during retirement and not the state in which you worked and accumulated the benefits.

Again, using the traditional plans may have greater benefit if you leave your high - taxed state upon retirement.

Both of our jobs currently have defined benefit pension plans in place, both of which we are vested in — I don't put a dollar figure on those but figure those will provide 3k to 4k in retirement income when we retire, depending upon when we retire and then when we choose to draw it.

Under this system, your contributions may be capped, your promised benefit is not guaranteed upon retirement, and it can even be reduced after you have retired.

Our paramount goal is to provide our students with a working knowledge of the myriad of factors that play a role in determining how retirees can achieve the maximum benefit available to them from Social Security and, in so doing, provide a solid foundation upon which an overall retirement income plan can be built.

Upon returning to the workforce, Cheryl took the steps necessary to become a licensed financial services professional and quickly realized the vast majority of current and prospective retirees did not have access to the advice and resources required to make an educated decision on, what in most cases, will prove to be one of the most critical financial decisions they'll ever make; when and how to claim Social Security retirement benefits.

I look to initiate immediate action here in Rockland that will hold any elected official strictly accountable for crimes committed in office, and remove any taxpayer - funded pension and retirement benefit upon conviction,» said Legislator Day.

Councilman Brad Lander, a Brooklyn Democrat, said the mayor's proposal puts employees in a tough spot: While current workers would be able to choose their benefit option upon retirement, new employees would have to choose at the time they are hired, without knowing whether or when they would be injured in the line of duty.

This is a false statement, as all county employees (including his wife and he himself as her spouse) who earn health insurance benefits will receive 50 % of their health insurance costs covered under MVP Gold (which is not the same insurance that current county employees receive) upon retirement and 10 years of employment after reaching the age of 55.

Employee contributions are made over the course of employment, and benefits are paid out upon retirement.

Using the system's benefit formula, we can compute the value of the annual annuity payment that she will receive upon retirement under this scenario, which she will be eligible to begin collecting at age 60.

Upon the passage of the enhancements, these teachers actually delayed their retirement, remaining in the classroom for one additional year, and so were able to reap the large benefit enhancements.

It also means lower retirement income later, based upon lower 401 (k) contributions and Social Security benefits.

The benefit of that is you're taking money that's pre-tax and is going to be fully taxable in retirement, moving it to after - tax money and thus tax - free upon withdrawal.

In addition, a reverse mortgage can be used to draw upon instead of accessing Social Security benefits right at retirement age.

Phased retirement permits an individual to retire from part of his or her employment, while continuing employment on a part - time basis and continuing to earn additional retirement benefits proportionately based upon the additional part - time employment.

Even though you can not touch the money now, you will be deriving monthly benefit payments or a lump sum payment upon retirement.

For a defined - benefit plan, benefits will be paid upon retirement based on factors such as year of service to the company, as defined by the plan.

When a worker is receiving retirement benefits and / or members of his family are also receiving benefits based upon the retirement benefits, such as via spousal benefits, benefits for children, or other family members benefits, there is a maximum amount of benefit that can be distributed in total.

With so many people dependent upon Social Security for retirement benefits, it's vital to understand the system and its limitations, as well as to make changes before time runs out.

Upon your retirement, you will normally receive your benefit as a lump sum.

Finally, disability benefits are not a divisible portion of a military service member's retirement package upon divorce, which should be considered when trying to calculate an accurate present day value.

Though law firm management generally shifted away from such plans in the 1990s, one in five firms still has a nonqualified retirement plan that provides benefits upon withdrawal, says James Cotterman, a principal at legal consultancy firm Altman Weil in Orlando, Fla., citing a recent survey of 145 law firms.

In the event the retiring judge elects to retire as a «Senior Status Special Judge» under this subsection, he shall commit to serve, upon appointment by the Chief Justice of the Commonwealth, as special judge for one hundred twenty (120) work days per year for a term of five (5) years without compensation other than the retirement benefits under this subsection.

(a) the pension benefits to which he or she would have been entitled upon terminating employment at the normal retirement date; and

Upon retirement, if you have carried Option B insurance and are eligible to maintain it, you must make an election whether or not wish to have these amounts reduce or to have no reduction in life insurance benefits.

Besides this obvious one, some of the other projected benefits from proposed FDI scenario include availability of pension product to private sector employees who until now have to depend upon largely insurance - based schemes for post retirement financial security.

In addition to simply paying out a benefit upon an insured's death, life insurance policies can also be a primary component of one's overall financial, retirement, and estate planning strategies.

In addition to just paying out a benefit upon one's death, life insurance can be used as part of an overall strategy for retirement, estate, and financial planning.

LIC Pension Plans: Pension plan from LIC offer several benefits including complete life cover, and a stable source of income upon retirement of the policy holder.

Amidst other employer benefits which are realizable after a long tenure, usually upon retirement, the employer sponsored health insurance scheme is a blessing for the employees as it provides them coverage for themselves and their families and that too without a time - specific condition.

The rest of the Decree is assembled this way: Form 201 of the Decree, which is page 2, deals with spousal maintenance and retirement benefits; Form 202, page 3, describes community property and debts; Form 203, page 4, (not used when there are not children), child custody, visitation and support; Form 204a, page 5, additional relief and the judge's signature page; and Form 204b, mailing declaration, page 5 or 6, depending upon whether or not there are children.

In making an equitable apportionment of marital property, the family court must give weight in such proportion as it finds appropriate to all of the following factors: (1) the duration of the marriage along with the ages of the parties at the time of the marriage and at the time of the divorce; (2) marital misconduct or fault of either or both parties, if the misconduct affects or has affected the economic circumstances of the parties or contributed to the breakup of the marriage; (3) the value of the marital property and the contribution of each spouse to the acquisition, preservation, depreciation, or appreciation in value of the marital property, including the contribution of the spouse as homemaker; (4) the income of each spouse, the earning potential of each spouse, and the opportunity for future acquisition of capital assets; (5) the health, both physical and emotional, of each spouse; (6) either spouse's need for additional training or education in order to achieve that spouse's income potential; (7) the non marital property of each spouse; (8) the existence or nonexistence of vested retirement benefits for each or either spouse; (9) whether separate maintenance or alimony has been awarded; (10) the desirability of awarding the family home as part of equitable distribution or the right to live therein for reasonable periods to the spouse having custody of any children; (11) the tax consequences to each or either party as a result of equitable apportionment; (12) the existence and extent of any prior support obligations; (13) liens and any other encumbrances upon the marital property and any other existing debts; (14) child custody arrangements and obligations at the time of the entry of the order; and (15) such other relevant factors as the trial court shall expressly enumerate in its order.