Sentences with phrase «retired workers collecting»
The nearly 42 million retired workers collecting a monthly check from Social Security receive an average payment of $ 1,368.67, or about $ 16,424 per year.
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Currently, a retired worker can receive his / her «full» benefit if they start collecting monthly paychecks at the age of 66.
The number of retired public sector workers in New York collecting six - figure pensions is closing in on 4,000, with an 18 percent increase over the year before, according to a recent survey by The Empire Center.
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.
The number of retired public sector workers in New York collecting six - figure pensions is closing in on 4,000, with an 18 percent increase over the year before, according to a recent survey by a fiscal watchdog group.
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.
Conversely, workers who retire early receive smaller monthly benefits but collect them over a longer period.
The longer a worker waits to retire and begin collecting Social Security, the higher his monthly payments will be.
Among retired and disabled workers who collected benefits based on their own work records, men received a higher average monthly benefit than did women.