Sentences with phrase «reduce upon your retirement»

Understand any group life insurance provided by your employer on your life and that of your spouse will terminate or reduce upon your retirement.

Not exact matches

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.

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.

Along with some of the smaller expenses listed above, there are two major monthly expenses that are usually reduced or eliminated upon retirement — mortgage payments and the costs of raising a child.

Depending upon your family income and upon whether or not you or your spouse was covered by a retirement plan at work during the year, your deduction for your traditional IRA contribution may be reduced or eliminated.

Upon retirement, consolidating all of these tax - sheltered accounts into a single IRA for each retiree, and steering multiple taxable accounts into a single account, can greatly reduce the number of moving parts in the retirement portfolio.

Another consideration when deciding upon retirement contributions is reducing your income.

He filed a posttrial motion seeking to modify that order, asking that the spousal award payments start at $ 2,000 monthly and be eventually reduced to $ 1,000 and be given a set termination date upon his retirement.

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.

In many cases, the income that is received through a pension or other retirement income source will be reduced — or will even completely stop — upon the death of the recipient.