Sentences with phrase «employee at retirement age»

According to the IRS, the contributions are generally not taxed until they are distributed to the employee at retirement age or in the event of a loan or hardship withdrawal.

Not exact matches

The biggest financial item in the new Senate Democratic plan is offering a retirement incentive program to state employees who are already eligible to retire at age 55.

The original Tier 6 bill itself contained a clause allowing any public employee union, including those representing court officers, to petition the governor for a restoration of early retirement at age 57, but only on the condition that the added cost would be covered by added employee contributions.

At the time he was 57, the average retirement age of district employees.

Once an employee reaches retirement age, pension benefits are disbursed as an annuity, a fixed benefit that a worker receives every year starting at retirement until death.

Federal employees can collect Social Security at age 66, their full retirement age, without any reduction in benefits?

12 % to 20 % RCMP employee Average age at retirement: 54 Years of service: 31 Years collecting a pension: 32 Estimated value of pension at retirement: $ 820,000 to $ 990,000 (based on a projected real return of 2.8 % to 4.3 % a year) Amount of pension currently contributed by the employee: 31 % Pension benefit is equivalent to what percentage of worker's salary?

Federal government worker Average age at retirement: 58 Years of service: 26 Years collecting a pension: 27 Estimated value of pension at retirement: $ 560,000 to $ 660,000 (based on a projected real return of 2.8 % to 4.3 % a year) Amount of pension currently contributed by the employee: 33 % Pension benefit is equivalent to what percentage of worker's salary?

Ontario schoolteacher Average age at retirement: 59 Years of service: 26 Years collecting a pension: 30 Estimated value of pension at retirement: $ 650,000 to $ 840,000 (based on a projected real return of 2 % to 4 % a year) Amount of pension currently contributed by the employee: 50 % Pension benefit is equivalent to what percentage of worker's salary?

After retirement on 1/4/2013 at the age of 62 yrs, I left both employee & employer contributions in the EPF fund since I was informed that for upto 3 yrs the corpus will continue to accrue interest.

When comparing the average retirement age of workers at two global corporations — one that kept its pension plan and one that converted to a 401 (k)-- Mercer, a global consulting company, found that employees with a pension retired approximately four years earlier than those with a 401 (k).2

This is done in the hope that more employees will participate and start saving for retirement at an earlier age.

An employee's primary insurance amount (PIA) is the monthly benefit amount payable at disability or at the full - benefit retirement age.

The claimant's submissions were directed, first, to reg 3, which permitted employers to justify direct discrimination on the ground of age; second, to reg 30 that provided that it did not constitute unlawful discrimination for an employer to dismiss an employee on the grounds of retirement at age 65.

McCormick is an equity partner in Fasken's Vancouver office who resisted the mandatory retirement at age 65 required by the partnership agreement, arguing that it contravened the BC Human Rights Code's prohibition on age discrimination with respect to employees.

The benefit in a defined benefit pension plan is determined by a formula that can incorporate the employee's pay, years of employment, age at retirement, and other factors.