Sentences with phrase «own early retirement benefits»

Those who turn 62 and are therefore first eligible for early retirement benefits from Social Security in 2018 will have a retirement age of 66 and four months, with the age rising two months every year until hitting 67 for those born in 1960 or later.

You'll face a penalty if you continue to work after you claim early retirement benefits and earn more than the yearly earnings limit, which for 2018 is $ 17,040.

The company also noted that it will provide early retirement benefits and severance packages for affected employees.

No such annuity shall provide for more than the total difference in retirement income between the retirement benefit based on average monthly compensation and creditable service as of the member's early retirement date and the early retirement benefit.

No such annuity may provide for more than the total difference in retirement income between the retirement benefit based on average monthly compensation and creditable service as of the member's early retirement date and the early retirement benefit.

Many employer pensions have generous early retirement benefits with a «bridge benefit,» in which case your total monthly payout is actually higher before age 65 than after.

Therefore, according to the strategy, the wife would claim early retirement benefits at 62 while the husband waited.

According to the study, it is usually optimal for a wife to claim her own early retirement benefits because wives typically earn less than their husbands but also usually outlive them, and once the husband dies, the wife is entitled to his benefit as a widow.

Will I be able to file for early retirement benefits on the smaller payout, then change to the larger at full retirement age using the divorced spousal filing for one of the times?

Let's say your monthly benefit would have been $ 1,000 at age 65, but you retired at age 60 with $ 900 per month as your early retirement benefit plus $ 600 per month as a temporary supplement payable until age 62.

PBGC can pay you only $ 1000 per month ($ 900 per month early retirement benefit plus $ 100 supplement) until age 62 and $ 900 per month after age 62.

Early Unreduced Retirement Benefit - An early retirement benefit that is not reduced from the amount payable at the normal retirement date.

Supplemental Benefits - Temporary payments made by a plan in addition to a participant's lifetime early retirement benefit.

If you have earnings during a year when you're receiving early retirement benefits, the earnings test can cause a reduction in your social security benefits for that year.

For example, participants whose plans offer a temporary supplemental benefit in addition to an early retirement benefit often receive amounts greater than their straight - life annuity amount.

Some plans, however, fully or partially subsidize an early retirement benefit.

Shutdown Benefit (for Single - Employer Plans only)- An early retirement benefit offered by plan that becomes payable when all or substantially all of an employer's operations at a facility end, resulting in a loss of jobs that is expected to be permanent for all or substantially all of the employees at that facility who are plan participants.

Grow - in rights refer to plans providing enhanced early retirement benefits, often an unreduced pension, even though an employee doesn't meet age or service requirements when the plan winds up.

«If I am involuntarily terminated and I have 55 points I will grow into these early retirement benefits,» he says.

The tribunal decided that Mr Donkor's circumstances were materially different from the two younger directors because they were not entitled to early retirement benefits.

Not exact matches

A widow or widower is eligible to start receiving reduced benefits on your record as early as age 60 and full benefits at their full retirement age.

Claiming Social Security retirement benefits at the earliest age — 62 — is a big temptation for many aspiring retirees.

You also need to consider the effects that early retirement can have on your Social Security benefits.

It usually doesn't pay to claim Social Security retirement benefits early.

According to the Employee Benefit Research Institute (EBRI), a full 47 percent of Americans who retired in 2013 did so unexpectedly, with most of these early retirements due to health and disability issues.

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 how it works: The higher - earning (first) spouse files for benefits at full retirement age, enabling the other to file for spousal benefits as early as age 62 — which, again, amounts to half of what the first spouse is entitled to.

If you take early retirement, it may be smarter to tap your RRSPs first, before government benefits kick you into a higher tax bracket.

Although retirement may seem something too distant to young people, by failing to keep up they miss the chance to benefit from compound interest early on.

One reason the proportion of working seniors fell between the 1970s and 1990s, said Nyce, is that earlier generations enjoyed defined benefit plans loaded with early retirement incentives.

«Gaps are certainly of special concern to those considering early retirement, since they are eligible for Social Security benefits at 62, but must wait until age 65 to receive Medicare,» said Kimberley Foss, a certified financial planner and founder of Empyrion Wealth Management.

If you start your benefits early, they will be reduced based on the number of months you receive benefits before you reach your full retirement age.

Incentives for early and late retirement will be modified to decrease the attractiveness of early retirement and increase the attractiveness of late retirement; phased retirement will be facilitated by allowing people to collect benefits while contributing and earning new claims on CPP retirement benefits; and the number of years of low earnings that can be deducted from the calculation of a CPP retirement benefit will be increased.

Can you afford to «retire early» and claim benefits at age 62, should you wait until your full retirement age, or can you wait until age 70 in order to receive the largest possible monthly benefit?

To reduce Social Security's projected funding shortfall, the commission would increase the taxable wage base by 2050 to include 90 percent of earnings, to increase the full - and early - retirement ages to 69 and 64 respectively by 2075, to cover newly hired state and local workers after 2020, and to create a hardship exemption allowing those who can not work past age 62 to receive benefits early.

For example, my full retirement age is 67 and if I claim at age 62, the earliest age at which I can file for Social Security benefits, my benefit will be equivalent to 70 % of my full retirement age benefit.

Higher full retirement ages mean larger penalties for taking benefits early and lower bonuses for waiting longer.

The calculation decreases or increases benefits by a fixed percentage for every month you claim early or late, so people with a lower full retirement age will get more in benefits as a percentage of their full retirement benefit if they claim earlier or later than someone with a higher full retirement age.

The survey of 903 adults aged 50 or older, who are either already retired or plan to retire in the next ten years, revealed those who began receiving Social Security income early report a lower average monthly payment ($ 1,190) than those who started at their full retirement age ($ 1,506) and those who delayed benefits until age 70 ($ 1,924).

thanks, and yes, a pittance of a pension and regular checkups keep us on budget and head off any problems — best decision i ever made (financial or otherwise) was serving our country doing search - and - rescue, oil and chemical spill remediation, etc. (you can guess the branch of service)-- along the way, frugal living, along with dollar - cost averaging, asset allocation, and diversification allowed us to retire early — Vanguard has been very good over the years, despite the Dot Bomb, 2002, and the recession (where we actually came out better with a modest but bargain retirement home purchase)... it's not easy building additional «legs» on a retirement platform, but now that we're here, cash, real estate, investments and insurance products, along with a small pension all help to avoid any real dependence on social security (we won't even need it at full retirement age)-- however, like nearly everybody, we're headed for Medicare in several years, albeit with a nice supplemental and pharmacy benefits — but our main concern is staying fit, active, and healthy!

I understand the risk of passing on the tax benefit now, but if we will need withdraw from investments during early retirement, would it not make sense to first withdraw from the Roth IRA contributions instead of requiring us to invest / withdraw more from taxable accounts?

If your budget for early retirement includes working part - time and getting Social Security benefits, you could take an unexpected financial hit.

His goal is to develop as many passive income streams as possible and reap the benefits through early retirement.

This way the entry level stays but the amount per year increase is reduced to full retirement age, creating a situation where more people will likely take SS earlier and not get their full benefits to begin with.

From their early investing days through their peak earning years and into retirement, our private clients benefit from our long view approach.

The BLS observes «The leading edge of the baby boomers (those born in 1946) became eligible for early Social Security benefits at age 62 in 2008 and reached full retirement age at 66 in 2012.

Let's take a deep dive into the many benefits that come with earning a low income in your early retirement years.

Today, a post about the under - recognized benefits of spending less in early retirement, because spending less means earning less, and earning less means a whole bunch of benefits.

The Employee Benefit Research Institute (EBRI) undertook a study examining the extent to which the non-housing assets of certain retirees changed during their first 20 years of retirement (or until death, if earlier).

You started saving early to take advantage of the power of compounding, maxed out your 401 (k) and individual retirement account (IRA) contributions every year, made smart investments, squirreled away money into additional savings, paid down debt and figured out how to maximize your Social Security benefits.