Sentences with phrase «retired worker benefit»

All things being equal — birth year, earnings history, and work history — an individual claiming at age 70 can earn up to 76 % more per month than an individual claiming a retired worker benefit at age 62.

If a spouse's own earnings history generates a larger benefit than what he or she would receive as a survivor benefit based on their deceased spouse's earnings history, then the higher retired worker benefit is kept in place.

Survivor benefits, which I briefly mentioned above, only come into play if they're higher than the surviving spouse's retired worker benefit.

If, however, the survivor benefit is more than what he or she would receive from their retired worker benefit, then the survivor benefit can be chosen.

This strategy is useful for dual - income couples in which each spouse qualifies for his or her own retired worker benefit, but one spouse must be at least full retirement age, AARP reports.

Not exact matches

In the short run, this spending works as designed: the plant stays open, cars get produced, older workers retire with pensions and benefits and young workers are hired to replace them.

The 113 respondents offered their views on a host of retirement issues, including when they plan to retire and the benefits of keeping older workers in the labour force.

Then, when the older spouse turns 70, he or she can claim the retired - worker benefit, which has been growing by 8 percent per year.

Using the «claim now, claim more later» strategy, retirees can claim some benefits now, and higher benefits later, by applying for spousal benefits instead of their own retired - worker benefits when they reach full retirement age.

And when the younger spouse turns 70, he or she can convert the spousal benefit to his or her own retired - worker benefit, which also has been growing by 8 percent a year.

Nearly three out of 10 workers expect to retire before they're 65, according the Employee Benefit Research Institute.

But, if that retired worker chooses to, he / she can delay benefits up until age 70 — and the size of those monthly benefits will increase by 8 % for every year after the age of 66 they wait.

Currently, a retired worker can receive his / her «full» benefit if they start collecting monthly paychecks at the age of 66.

If you turn 62 on or after January 2, 2016, and will be eligible for benefits both as a retired worker and as a spouse (or divorced spouse), then the new law applies to you.

Under existing law, if you are eligible for benefits both as a retired worker and as a spouse (or divorced spouse) in the first month you want your benefits to begin and are not yet full retirement age, you must apply for both benefits.

The estimated Social Security benefit for workers retiring at full retirement age in 2018 is $ 1,404.

For 2018, the maximum monthly benefit payable to a newly retired worker at their full retirement age will be $ 2,788.

According to the Social Security Administration, the average retired worker will receive a monthly benefit of $ 1,404 in January 2018.

Saunders, the president of the Vancouver and District Labour Council, says that Canadian workers and their pensions are more exposed to risk during market trouble because of the successful campaign over the past decades to move from defined benefit pensions, which guarantee a certain monthly amount when you retire, to defined contribution plans, promoted by market enthusiasts.

The average monthly benefit for all retired workers in 2018 is $ 1,404, according to the Social Security Administration.

The estimated average monthly benefit for «all retired workers» in 2016 is $ 1,341.

For 2017, the maximum Social Security benefit for workers retiring at the full retirement age of 66 is $ 2,687 per month.

If birth year, income and work history are equal, a retired worker who waits to take benefits at age 70 will earn up to 76 percent more than the same worker taking benefits at age 62.

The basics of your Social Security benefit The size of a retired worker's Social Security check is based on two factors:

Social Security provides retirement benefits to retired workers (36 million of them, as of December 2009) and their eligible dependents.

Look at what companies did to defined benefit pensions... they shifted it to the workers and now the workers compalin that they do not have enough saved to retire unless they work much longer.

Johnson's wife is a retired state worker and he said he is embarrassed by the generosity of her retiree health benefits.

Diane D'Alessandro, executive director of the New York City Employees» Retirement System, said she'll retire effective Dec. 31 from the agency that manages pension benefits for some 300,000 workers and retirees.

Advocates seeking pension increases for roughly 3,000 non-union state workers who retired after 2009 didn't find success during the just - finished legislative session but said they will push ahead in their quest to garner benefits from delayed pay increases that made up for an earlier freeze.

The think tank found 3,230 retired workers are collecting the six - figure pension benefits at the conclusion of the 2015 - 16 fiscal year on March 31.

CSEA argued that the intent of the omission was to create a vested lifetime benefit for workers who retired during the terms of those agreements.

And spokesman Rich Azzopardi says Cuomo has already created a new pension tier for retired workers with reduced benefits and taken over the costs for the growth of Medicaid.

New York (CNNMoney)- Illinois lawmakers approved a landmark pension reform package Tuesday that would cut retirement benefits for teachers, nurses and other retired and current state workers.

Nearly every state has created less generous plans for new workers, plans that will require new teachers to pay more money up front, remain in their jobs longer before they «vest» into the system and qualify for even a minimum benefit, and work longer before they retire with full benefits.

A group of active and retired Chicago city employees and four unions that represent them — AFSCME Council 31, the Chicago Teachers Union, the Illinois Nurses Associations and Teamsters Local 700 — filed suit today in Cook County Circuit Court to overturn Senate Bill 1922 (Public Act 98 - 0641), legislation to sharply reduce pension benefits for city workers and retirees who participate in the Municipal Employees Annuity and Benefit Fund (MEABF).

Policies like Social Security's delayed retirement credit reward individuals who retire later with an increased percentage of benefits and encourage workers to work for more years.

The existing PFT Health and Welfare Fund, which has about $ 40 million built up in it, has opted to subsidize retired workers» prescription, dental and vision benefits.

As early as October 2013, Lembo's office — which administers the health care benefits for retired state workers and their dependents — warned the governor of a likely surge in costs in the 2014 - 15 fiscal year, largely because of an anticipated jump in retirements among prison guards.

Each of these lines captures the same gross benefit — that is, all workers since 1983 have the same pension rules about when they qualify for a pension, the formula for that pension, and when they can retire and begin collecting their benefits.

The average monthly Social Security benefit for retired workers is $ 1,369.97, according to July 2017 figures from the SSA.

According to the Social Security Administration, the average monthly benefit for retired workers drawing social security is $ 1,369 per month.4 When factored over 25 years, this equates to only $ 328,560.

But according to the latest data from the Social Security Administration (SSA), the average monthly benefit for retired workers is an even lower $ 1,404.

For 2018, the maximum monthly benefit payable to a newly retired worker at their full retirement age will be $ 2,788.

Social Security benefits replace 40 % of an average worker's income after retiring.

People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire.

People retiring today will be among the first generation of workers to pay more in Social Security taxes than they receive in benefits over the course of their lives, according to a new analysis by the Associated Press.

Defined benefit pension plans for teachers and government workers typically pay 2 % per year of service if you retire at 65, and offer either full or partial protection from inflation, says FitzGerald.

Forty - five million retired workers and their dependents receive Social Security retirement benefits as of June 2017, with an average monthly benefit of $ 1,369.

Conversely, workers who retire early receive smaller monthly benefits but collect them over a longer period.

Benefits are paid according to how much a worker contributed in Social Security taxes during his working years and the age at which he retires.