Sentences with phrase «receiving normal retirement»
Normal Retirement Date - The date when a participant may begin receiving normal retirement benefits under a pension plan.
https://www.pbgc.gov/ Not exact matches
This affects not only those who receive retirement benefits, but also Canadians who perceive the age of 65 or 67 as the normal retirement age.
If you were born between 1943 — 1954 then as a percentage, if you retired at your normal retirement age (NRA), you receive 100 % of your benefit which in $ terms the max is $ 2,639.
If you retired at age 70 (max retirement age) then you will receive 132 % of your normal retirement age benefit, which the max amount for that age is $ 3,576.
No matter what your full retirement age (also called «normal retirement age») is, you may start receiving benefits as early as age 62 or as late as age 70.
Today, the normal retirement age (the age when a teacher can begin receiving an unreduced pension benefit) in New York and New York City is age 63.
In a traditional defined benefit plan, benefits are heavily backloaded; teachers receive minimal benefits in their early years but quickly earn substantial benefits as they near their plan's prescribed «normal retirement age.»
People who work while receiving Social Security before normal retirement age typically will receive a reduction of $ 1 for every $ 2 of income earned above an annual limit ($ 17,040 in 2018).
If you're between 60 and 64 in 2014 and plan to start receiving benefits before the normal retirement age of 65, CIBC suggests applying by Dec. 31, 2014.
If your spouse already receives benefits, ask them what their benefit would be if it started at their full (or normal) retirement age.
Under current rules, which remain in effect until 2011, starting CPP at the earliest age of 60 entails a 30 - per - cent reduction in monthly payments but «you would have to live well past 75 in order to receive more from the plan than by waiting until the normal retirement age of 65,» writes tax and estate lawyer Christine Van Cauwenberghe in her book, Wealth Planning Strategies for Canadians 2010.
These sections allow you to begin receiving money from your retirement accounts before you turn age 59 1/2 without the normal 10 % premature distribution penalty.
For example, if the worker's primary insurance amount is $ 1,600 and the worker's spouse chooses to begin receiving benefits 36 months before his or her normal retirement age, we first take 50 percent of $ 1,600 to get an $ 800 base spousal benefit.
On the whole, workers who retire early receive a lower benefit than if they would have waited until the normal retirement age (65 for men and 60 for women).
Under the current structure of the U.S. Social Security system, the age to receive full benefits (also known as «full retirement age» or «normal retirement age») is 65 for workers born in 1937 or earlier.
Your total benefit, $ 1,500 per month, is larger than the $ 1,000 benefit you would have received if you had retired at your normal retirement age.
Full retirement age (also known as normal retirement age) determines when you can receive your full retirement benefit.
If the spouse of a primary begins to receive benefits at his / her normal retirement age, the spouse will receive 50 percent of the primary's primary insurance amount.
If the primary begins to receive benefits at his / her normal (or full) retirement age, the primary will receive 100 percent of the primary insurance amount.
No matter what your full retirement age (also called «normal retirement age») is, you may start receiving benefits as early as age 62 or as late as age 70.
If a worker begins receiving benefits before his / her normal (or full) retirement age, the worker will receive a reduced benefit.
Early Retirement Age - In some pension plans, the age at which a participant can first receive benefits before the participant's normal retirement age.
Such a participant can receive benefit payments from the plan once he or she reaches the plan's normal retirement age or, if the plan allows, the plan's early retirement age.
One more good effect of working into «retirement»: Let's say that you filed for Social Security before your normal retirement age because you needed the money, even though it meant receiving reduced benefits for life.
Due to the Social Security Administration's (SSA) increase in the full or «normal» retirement age, many Americans are delaying retirement in an effort to receive their full benefits.