Pensions

When you receive a lump sum distribution from an employer’s pension plan, you have several options. If you hold onto the funds -- depositing them in your savings account, for example -- federal…

Pension settlements are typically offered by businesses wishing to decrease the amount of money paid to you upon retirement. The pension settlement could propose a lump sum payment in lieu of lifetime…

Pensions allow employees to contribute funds to benefits plans that will offer them fixed or variable payments when they retire. If you are married, your employer may reverse pension funds acquired…

Stakeholder pensions were developed in the United Kingdom as another savings alternative for workers preparing their retirement. Stakeholder pensions have advantages over other savings products that…

When emergencies come up, it may be necessary to apply for a hardship withdrawal from your pension. Applying for a hardship distribution from a retirement plan should never be the first option, but…

The Illinois Department of Employment Security administers the unemployment insurance program for the state. If you receive Social Security or a pension, you may receive reduced unemployment benefits…

If you've come to an agreement with your soon-to-be ex-spouse on dividing pension assets, you can facilitate the split by having an Illinois family court issue a Qualified Domestic Relations Order…

The Internal Revenue Service offers a number of tax benefits to pension plans to encourage their use as retirement accounts. If you need to cash in your pension benefit before retirement, the…

While retirement benefits such as pensions may seem abstract when you begin your career, they become an increasing concern for many workers the closer they are to retirement age. One issue workers of…

Retirement distributions from your employer’s pension program generally are included in your taxable income. Pension distributions may be fully taxable or only partially taxable, depending on…

Your pension may become an important source of income during retirement. Your pension is usually retirement income funded entirely by your employer, although some pension schemes allow you to fund…

When assessing how to proceed with your retirement planning, it can be frustrating when trying to choose the "right" plan. This can also be the case for employers who must choose what type…

The closer that employees in a pension plan get to retirement, the more mature that fund becomes. If a pension is not properly funded, that is if there are not enough assets to cover liabilities, as a…

American citizens can save for retirement through a variety of means, from personal retirement accounts to employer-provided pensions. Employer-provided pensions provide continued payment in…

A pension plan is a retirement scheme funded by your employer. Generally, the pension is funded entirely by your employer, but some pensions allow you to contribute to the plan through salary…

When you cash in a pension plan, you receive your account proceeds as a lump sum. Normally, you cannot withdraw money from a pension that your current employer funded while you are still employed.…

When you work for a company with a pension, you are building a retirement benefit. A pension is designed to pay you monthly retirement payments as long as you are alive. What happens to your pension…

Pension is a general term for a retirement benefit offered to an employee from a government or from a private business or individual. Pensions are considered defined benefit retirement plans, as…

Pensions are retirement plans funded entirely by your employer. A pension plan allows your employer to fund your retirement by making contributions to the plan for you. These contributions are…

A person seeking a loan might be required to provide collateral — usually a non-cash asset — to secure the loan. This allows the lender some security against the loss of too much money if…

If you are terminated from your current employer, you may be eligible to keep your pension benefit. Your total pension benefit is based on the number of years you worked at your company and your…

Income taxpayers who live full time in the state of Montana and earn income from pension plans may be required to pay taxes on all pension earnings if their federal adjusted gross incomes (AGI) exceed…

Your pension distribution in most cases will be either fully or partially taxable. At the end of the year, your pension administrator sends you a Form 1099. This form lists the amount you should…

When you work for a company that offers a pension plan, you know that your retirement will be taken care of when you reach the proper age. If you pass away before you reach retirement, your pension…

If your spouse had a pension benefit at work, you should be able to claim the remaining benefit for yourself. A pension does not begin making payments until a worker reaches a specific retirement age,…

A pension is supposed to provide a steady income after an individual retires. Although the benefit contracts for most pensions specifically protect the retiree from an arbitrary cancellation of…

If you participate in an employer-sponsored pension plan in California, it is probably either a defined-benefit plan or a defined-contribution plan. Pension plans in California and other states are…

Many people find themselves in positions where they either have no employer-sponsored pension plan, or they feel they need to create their own to supplement the pension plans they already have. There…

When debtors owe money, creditors use different tactics in an attempt to obtain money owed. One of these tactics is garnishment. Garnishment allows a creditor to have money taken out of bank accounts…

When you receive a pension lump-sum amount, you're getting more than just a lifetime of retirement savings. You're taking on a significant responsibility. You must manage your retirement savings…

Many Americans choose to move when they retire. Some want to be closer to their grandchildren, while others have always wanted to live in the mountains or on the coast and finally have the chance to…

When you work for a railroad, you receive a pension benefit that lasts for the rest of your life. Working on a railroad system in the U.S. entitles you to certain tax exemptions. These tax exemptions…

Kentucky residents must pay taxes on their retirement income, including pensions. However, a portion of the pension is excluded from Kentucky tax. You must complete a worksheet to determine your total…

A pension in retirement can make you quite financially comfortable, and it's usually one of the perks of working for state or federal government. However, you still need to figure your future earnings…

Pensions are retirement accounts normally funded by your employer. Your employer makes contributions to the plan, invests those contributions, then distributes them to you when you retire. Pension…

Though a pension is generally reserved for retirement use, unforeseen circumstances and financial considerations may prompt the need to borrow from it. If you are faced with either of these scenarios,…

Federal tax on pensions is determined by the IRS and the laws passed and codified in the Internal Revenue Code. The IRS administers law and issues publications to help taxpayers understand the…

Many retired individuals receive distributions from a pension or other retirement plan. Depending on the type of plan, the distributions may or may not be taxable. In most cases, if you are receiving…

Retired workers who receive pension payments may have to pay federal income tax on their distributions. The amount of tax they owe depends on the type of pension plan they participate in, when they…

Pensions are retirement plans funded by your employer. These retirement plans consist of contributions which are professionally invested on your behalf. The employer does not have direct control over…

Divorcing spouses have a right to a fair division of their marital retirement accounts. In most states, courts view both types of benefits marital property if the contributions were made during…

When you retire, your employer may offer to pay a lump sum payout for your time with the company or a monthly pension amount until you die. Before choosing your pension payment method, consider the…

Many baby boomers face an insecure financial future as retirement age approaches, according to an Associated Press article appearing in the "Charlotte Observer" in December 2010. The story points to a…

A pension is a regular income after you retire from working. You may receive a pension from a former employer or trade union, from a government body or from an insurance company. Maryland considers a…

The funds that you or your employer contribute to your pension plan are tax qualified, which means that the money grows tax-deferred. In the United States, qualified pension plan operators must abide…

When a person is filling out a resume, he will almost always include a list of his former employers. This list will generally include the name of the employer, the position you held and the employer's…

There are many savings and investment programs available to help you prepare for your retirement years. Numerous corporations have established pension and profit-sharing plans. The federal government…

An employee may choose to receive funds from his qualified retirement account in several ways, including a lump-sum payment. Many employers automatically withhold 20 percent of a lump-sum distribution…

Georgia state laws differ from federal law on the issue of income taxation. When you spend your entire life building a retirement savings, having this money taxed means you are losing your precious…

When a person owes a debt to another party, the creditor may attempt to get a lien placed on the owner's property. This lien legally requires that the debt be paid before the property can be sold.…

Wisconsin is a community property state; thus, all property belonging to either member of a marriage belongs equally to both members of the marriage, including pension plans. If the couple divorces,…

The International Alliance of Theatrical Stage Employees, or IATSE, represents the interests of support staff in the entertainment industry. IATSE serves as a source for temporary labor for movie and…

Pension payments are structured retirement benefits you receive when you retire from an employer. The pension is normally fully funded by employer contributions and distributions are made according to…

If you feel you've been denied benefits you're legally entitled to by your local office of the United States Department of Veterans Affairs, you can enter into the Board of Veterans' appeals process…

Historically, autoworkers who are union members have earned substantially more than their nonunion colleagues, and more than manufacturing workers across the country. Eventually, however, these wages,…

Across New Jersey in 2011, town councils are introducing salary ordinances in an attempt to rescue their strapped budgets due to the continued economic problems that are plaguing local governments.…

Retirement plans covering employees in the private sector are governed by federal law under the Employee Retirement Income Security Act of 1974 (ERISA) with enforcement by the U.S. Department of…

The Employment Retirement Income Security Act of 1974, known as ERISA, establishes the minimum federal requirements and standards for private pension plans. Although employers are not required to…

There are various types of pensions available from the government and the private sector that offer payments during retirement or periods of disability. For many of these, there is no restriction on…

Pension funds are designed to grow money for your retirement years. Pensions generally fall into two categories: defined benefit plans and and defined contribution plans. Within these two categories,…

The pension plan is a retirement planning option that some employers offer as a benefit to employees. This plan aims to simplified the process of saving for your retirement benefits. While it is…

A pension income contract is an agreement between an individual and a fiduciary who promises to pay the individual money over a certain period of time. One common example involves a state-sponsored…

The U.S. Pension Benefit Guaranty Corporation (PGBC) is a government agency that protects the pension benefits in the defined benefit retirement plans of private companies. If a private pension plan…

In 2006, the Financial Accounting Standards Board (FASB), which sets accounting rules in the United States, released its Statement of Accounting Standards (SFAS) 158 to address pension reporting…

Carpentry is an in-demand profession, with an expected 13 percent increase in jobs between 2008 and 2018, according to the Bureau of Labor Statistics. This makes it an attractive career for those who…

Pension obligation and pension cost are two different concepts in pension management and particularly in pension accounting. While pension obligation represents the total current retirement benefit…

You can't claim an income tax deduction for capital investment losses in your 401k, individual retirement account or other tax-deferred retirement pension plan. The Internal Revenue Service says that…

An analysis of the average pension income requires understanding the difference between a defined benefit pension plan and a defined contribution plan. Employers pay into worker defined benefit plans,…

Georgia does not offer a retirement or pension tax credit. However, Georgia offers a retirement income break for seniors, which is similar to a tax deduction. It is called the retirement income…

Retirement can be a sticky issue in a divorce case. The party whose name appears on the asset is sometimes emotionally as well as financially invested in it in that it represents his security in a…

Massachusetts is one of seven states in the nation whose public employees opted out of the Social Security system. Although state workers don't contribute to the administration's pension coffers,…

The easier it is to convert your collateral to cash, the less trouble you will have qualifying for the loan. By that rationale, the best type of collateral is cash itself. Cash collateral is strong…

A pension is a retirement plan that offers a defined annual payment in retirement. The company that offers the pension is responsible for making sure enough money is invested in its pension to meet…

Losing your husband can be a traumatic time. However, you are likely entitled to his pension benefits. A pension plan is a retirement plan your husband's employer paid for when he was working for the…

In 2005, the U.S. Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act. This legislation afforded the same creditor protection in bankruptcy to Individual Retirement…

Union pension benefits may amount to a significant portion of your retirement plan. Your pension benefits give you a guaranteed income for life. These benefits are funded by your employer and are…

Your pension plan pays you a benefit when you retire. This benefit, combined with your personal savings and Social Security, serves as a three-part system, which should give you all the income you…

Getting married in Louisiana allows you to take advantage of the same laws applicable in many other states concerning your husband's pension and insurance policies. You may be able to receive these…

Many employers no longer offer company- or union-sponsored pension plans. The U.S. government regulates most remaining pension plans and often insures these against forfeiture. Companies facing…

Reporting pension plans in financial statements primarily involves pension expense- related recordings and the noting of pension plan assets and pension benefit obligations. Pension expense may not be…

Many large religious organizations have established a centralized Board of Pensions that oversees the benefits provided to employees and clergy members, such as health, life and disability and…

A pension plan is a type of retirement plan. It is a defined benefit plan, meaning you are guaranteed a minimum amount in retirement. Your employer must determine how much of your salary you will…

A pension is a benefit that a retired employee or veteran receives regularly. When a pension recipient dies, his spouse may be entitled to receive her husband's benefits. Depending on the type of…

Pensions paid out to you might constitute community property in your state. Community property means that all marital assets accumulated during your marriage are shared between you and your spouse. A…

Your husband's pension is an important source of income. It is one of a few sources of guaranteed income, and might constitute up to a third or more of your total retirement income. When your husband…

A higher net worth makes you a more attractive client to lenders. Your net worth, indicated on your personal financial statement, is the difference between your assets and liabilities. Your assets…

Pensions are retirement plans that are paid for by your employer. Your state may include your retirement plan in community property if your state has adopted community property laws. Community…

When working for an employer that offers a defined benefit pension plan, you can receive a regular payment or a lump sum when you reach retirement. At this point, you could potentially keep working…

If the company you work for is downsizing and trying to save money, you may be offered some sort of voluntary early-retirement program. Companies often use early retirement incentives to encourage…

Pensions provide an important component of an employee's retirement income. Without a pension, your employees might not retire at an age at which they want. In addition to making you more competitive…

Real estate investments may provide a lucrative opportunity for you during your lifetime. But you might wonder how to invest in real estate when all you have is an annuity -- an insurance policy that…

When you work the required number of years for a company that provides a pension, you may be given the option of what type of payments you receive when you retire. In some cases, you can take a…

Your employer's pension plan provides part of your retirement income. This money, when combined with your personal savings, should be enough to give you a reliable income when you retire. But, the…

Pension plans are designed to provide a benefit payment to your spouse for his lifetime. But, most pensions also provide for beneficiary payments to widows. These spousal beneficiary payments give you…

Being hassled by a collection company is a stressful situation. If a collection company threatens to take away your pension income, however, you should be aware of your rights. Laws protect your…

A pension is a retirement plan funded by your employer. When your spouse has a pension plan, the employer may have made an agreement to send part or all of the pension payment to you after your…

Pension plans, funded by your employer, provide some measure of financial security for you in your old age. Unlike many forms of retirement plans, you may access this retirement plan early. Some…

Pension payments are made when you retire from your job. You must use care when taking them before a certain age because they may incur a penalty along with the distribution. While there are ways…

Many companies offer defined contribution pension plans to employees. The money invested in these accounts grows on a tax-deferred basis, and, in most instances, you can protect the tax-sheltered…

Your pension plan is a retirement plan that your employer fully funds on your behalf. Your pension plan alleviates the responsibility of you having to come up with your entire retirement savings. Your…

Pensions are retirement accounts funded by your employer. You can access these plans in one of several ways. Each pension option offers you a different way to take payments from the pension. However,…

Your pension plan represents a retirement plan that your employer contributes to on your behalf. The pension plan is a savings plan that supplements Social Security and your own personal savings. But,…

Pensions are structured a variety of ways. But payments from a pension plan are commonly annuity payments. Annuities from insurance companies provide the simplest method for a pension to make payments…

Retirement plans help you save much-needed money so that you don't retire destitute. You sock away money for your future into special tax-deferred retirement accounts. These accounts eliminate all tax…

A defined contribution plan refers to any plan in which contributions are defined, such as 401k plans, 403b plans and other similar plans requiring employee or employer contributions. These defined…

A state pension is a guaranteed and defined benefit plan paid to you by a state government. These pensions are part of your employer's retirement benefits package. There are two different kinds of…

Having a clear understanding of how your income is delineated is essential to planning your return. Pensions are split down the middle into two categories: taxable and nontaxable. If your pension is…

Some retirement plans allow lump sum distributions. These retirement plans include pensions and some employer-sponsored retirement plans. But these plans must abide by certain rules regarding lump sum…

Employees who prefer to receive pension benefits in a lump-sum payment can do so if they meet certain employee and employer qualifications. A pension plan member may opt to take a lump-sum…

Employees work many years in anticipation of pension benefits upon retirement. The benefits include cash distributions by the plan sponsor, or employer, when an employee reaches the retirement age.…

An employee stock ownership plan (ESOP) is a type of defined-contribution pension plan. The assets in an ESOP primarily consist of the stock of the employer, which is the plan sponsor. Although there…

A pension is a financial arrangement by which workers receive an ongoing income after their working days are over, or essentially retirement pay. They can be sponsored by private employers, by…

The Canada Pension Plan is a retirement savings system that all Canadian workers must contribute to -- with the exception of workers in Quebec, who contribute to the Quebec Pension Plan. The amount…

Annuities are insurance policies that help you save money for retirement. Average returns on annuities are determined by the funds available in the annuity or the insurance company's general account…

Most working Canadians make regular contributions to the Canada Pension Plan and can begin collecting pension benefits after the age of 60 or 65, depending on their contributions. Service Canada…

Many pension funds provide for the benefits of their membership by investing a portion of their wealth in the stock market. Although it is possible to invest in the stock market in such a way as to…

Employee pension benefit plans are set up by employers to provide a security net for employees. These plans provide a minimum amount of money to the employee when the employee retires. Your employer…

Employers offer pension plans to employees. These pension plans function as a safety net for employees, giving them a minimum guaranteed retirement income. But, employees don't have to take the…

A pension plan is a retirement plan set up by your employer. The employer makes contributions to the plan. In some plans, the contributions and the pension payment are guaranteed from the start of the…

Pension plans are relied upon by employees for a successful retirement. Employers or plan sponsors, whether public or private, must ensure that there is sufficient capital in a plan to pay pension…

Pension funds hold the retirement assets of public and private employees. In order to make sure that a pension has a satisfactory funding level so that retirees will be paid upon retirement, sometimes…

The 401k plan is a type of pension fund commonly used in the United States. It gives an employee or employer the right to take money out of a paycheck before taxes are accrued. There are a wide…

When your employer offers a retirement plan, it can fall into one of two different categories: defined benefit or defined contribution. While neither one is necessarily superior to the other in every…

Public and private employees are often entitled to a pension plan, which is a retirement fund provided by an employer, city or state. The money in a pension fund is contributed by the plan sponsor,…

Dividing up marital property can become one of the biggest headaches in your divorce case. Within that category, dividing up pensions can become one of your most unpleasant tasks. In addition to the…

Sometimes investing in stocks and bonds is not enough to accomplish investment goals, especially when investing for retirement. A pension fund holds the retirement assets of current and previous…

If you are a veteran, you may be eligible to receive benefits that the Department of Veterans Affairs provides through various programs. One of these benefits includes a monthly pension based on your…

Annuities are insurance policies that function as long-term retirement savings vehicles and may also guarantee you an income at retirement, depending on the type of annuity. Annuities are generally…

Welfare benefits are government-regulated assistance programs that provide cash, food, medical care or other benefits to people who meet established eligibility requirements. Most welfare programs are…

For many years, the defined benefit pension plan was the gold standard of retirement plans for employees. Because these plans have had some problems through the years, many companies have gone to…

During marriage, couples usually look at retirement as something they will experience together, sharing their penisons just as they once shared their paychecks. When the marriage bond goes up in…

The Department of Veterans Affairs (VA) helps veterans to access several different types of public benefits, find jobs, receive health insurance coverage and pay for education, and also provides…

Pension and profit-sharing pension plans often have provisions permitting employees to borrow from their retirement accounts. As long as the employee pays back the loan according to the specified…

A medical consultant is a doctor of senior standing. In the National Health Service (NHS) of the United Kingdom, these include those who have completed all specialty training. The pay rates for NHS…

Pension and profit-sharing plans are retirement plans that employers set up on behalf of their employees and for their benefit. These plans may be one in the same, but they may also describe two very…

Pension plans provide income to employees that last for their entire lives or for a set number of years. These pensions are funded by employers for the employees' benefit. If you are an employer or an…

During marriage, a couple generally expects their relationship to continue into their retirement years. As such, they may count on retirement assets in one party's name, such as a government pension,…

Pension benefit options are benefit options that refer to payment options from your pension plan. With pension plans, there are several types of payment options you can choose. You must think very…

The Department of Veterans Affairs (VA) offers compensation and pension benefits to disabled veterans. Which one you are eligible to receive depends upon the nature of your disability and how much you…

Other than the marital residence, a pension is often the most valuable asset acquired during a marriage. This is why it is at issue during a divorce. In Maryland, a pension can be declared a marital…

Private pension benefits are retirement benefits that are paid out to employees of companies in the private sector. These benefits are funded by employers and paid to employees when they retire from…

When you die, your pension benefits might go to your spouse. However, the spousal arrangement must be established well in advance. In fact, you must make a decision about spousal benefits when you…

As part of the benefit system that the federal government has created in order to care for citizens who serve in the military, an extensive pension system exists that regularly makes payments to…

A divorce can be an emotionally charged ordeal. It marks the end of a marriage, and through the process, the couple must divide their assets and debts. If one spouse worked and contributed toward a…

With a pension, you can collect a monthly or lump sum of money after retirement long after you left that employer. However, if you are trying to find information about a pension from a company you…

The Georgia Teacher Retirement Plan is a state-sponsored retirement plan benefiting teachers that work in Georgia. It is an established defined benefit plan, which means that if a participant meets…

Profit-sharing plans and individual retirement accounts are ways you can save for retirement and get tax benefits along the way. One of the main differences between these two types of accounts is that…

When you choose to accept the balance of your pension as a lump sum, you can choose between using the proceeds to cover short-term needs or reinvest the funds in a vessel designed to provide you with…

Annuities are retirement investment vehicles created and managed by insurance companies. Multiple types of annuities exist, each with its own advantages. Choosing the right annuity for your situation…

The National Health Care Services (NHS) Pension Scheme is the pension system for employees of the NHS, a special health authority of the Department of Health of the United Kingdom. The NHS Pension…

Defined pension plans specify either how much money is invested into a retirement pension or how much is distributed after retirement. These two types of defined pension plans are referred to as…

One of the most attractive perks of joining the U.S. military is the pension. You can collect a military pension after 20 years of service. If you stay in for 40 years, you are eligible to receive…

How accrued pension benefits are calculated depends upon the type of qualified retirement plan sponsored by the participant's employer. A participant in a defined benefit (DB) plan has an accrued…

Only a few decades ago, the defined benefit pension plan was the standard for both employees and employers. Under this type of plan, employees who put in a minimum number of years for an employer…

According to a 2007 market study conducted by Harris Interactive, 97 percent of baby boomers want to find a way to secure a guaranteed income for life. The shift away from pensions, such as their…

If you are named as a beneficiary to a life insurance policy, you need to decide how to receive the proceeds when the policyholder dies. One option is to take a lump sum payment. You can also purchase…

Finance is the study of cash flows. Cash flows can be periodic or in one lump sum. While it might seem that $100 paid out at the end of the next 10 years is equal to $1,000 today, it is not. This is…

Annuities are insurance policies. These contracts guarantee you an income during your retirement. However, these insurance policies may come loaded with fees. Each annuity is different, but the fee…

The field of administration services holds jobs for both upper-level and lower-level management, according to the Bureau of Labor Statistics. Because admin jobs can be found in several different…

Actors, theater employees and stagehands may be entitled to benefit funds from the International Alliance of Theatrical Stage Employees (IATSE). The IATSE is funded through contributions from…

Your military pension is an invaluable resource for your retirement. The pension is a way for the United States to thank you for your 20 or more years of military service while ensuring that you do…

The Department of Veterans Affairs' Aid and Attendance Program is an additional benefit paid to individuals under certain circumstances who are receiving another VA pension benefit. The program is…

If you are making contributions to a Simplified Employee Pension (SEP) or some other kind of pension plan, you may want to understand how your contributions work from a tax perspective. While many…

When you retire, your employer may provide a pension to you. The pension is a retirement plan that was set up by your employer for your benefit. Your pension is designed to provide you with retirement…

Every state has laws governing the division of marital assets and debts pursuant to a divorce case. Real estate, bank accounts, investment accounts and motor vehicles must all be classified and…

Workplace pension plans come in two broad varieties: Defined benefit pensions and defined contribution pensions. Defined benefit plans are what we think of as "traditional pension plans." In a…

A pension is a type of retirement benefit through which the retirement plan participant receives a monthly payment for life upon retirement from the employer. Like all retirement accounts, pension…

Defined benefit and defined contribution are the two main types of employer retirement plans. Defined benefit plans were at one time the mainstay of company retirement plans but are not as popular as…

People who retire from companies are often given the choice of turning their accumulated pension benefits into a lifetime income stream or cashing the pension in and receiving a lump sum. The income…

Teachers in Pennsylvania may retire either at the age of 60 with 35 years of teaching service, at the age of of 62 with at least one year of teaching service, or at any age with at least 35 years of…

Veterans receive disability compensation based on injuries or other issues that occurred as a direct result of military duty. Benefits are determined based on percentage the veteran is disabled. The…

When a debtor takes on enough debts that they near or surpass his total assets, he may find a declaration of bankruptcy the most financially effective option. There are two types of personal…

The VA provides pension benefits directly to veterans or their surviving spouses and children. The qualifications and qualifying circumstances vary, depending on the type of service the veteran…

If your employer offers you a pension at retirement, you are given a choice as to how you want to receive that pension. Your pension was likely funded at least in part, and usually fully, by your…

Different life situations may require you to unlock a pension before you're 50. There are ways to unlock a pension and secure your money without having to wait. The time it takes to do this will vary…

When planning for retirement, one of the basic questions you might ask yourself is whether you prefer your retirement investments and savings to be paid to you as monthly incomes or as a lump sum.…

Pensions are retirement plans that are partially or fully funded by your employer. A pension provides you with an income you can use to supplement the rest of your retirement income. All pensions have…

The advantages of defined-contribution retirement plans versus defined-benefit plans are numerous, and apply to employees, employers and taxpayers. A defined-benefit plan is a traditional -- or…

When planning for your retirement, it is generally a good idea to set aside as much money as you can comfortably afford. You want to make sure that you have plenty of money to live on once you stop…

The New Jersey Defined Contribution Retirement Plan (DCRP) is a state program established in 2007 and expanded in 2008 that established a tax-sheltered, defined contribution for certain eligible state…

An annuity is a series of fixed payments over a definitive period of time. Because an annuity is a guaranteed stream of payments, you can calculate the present value of the annuity, otherwise known as…

Under tort law, those who own land owe certain duties to people who might enter that land, even trespassers. But tort law recognizes different types of trespassers, and the landowner owes different…

Pension plans are the most common form of defined benefit plans, which guarantee a monthly or yearly benefit to the participant upon retirement from the employer. Due to the ongoing nature of their…

Investors often cash in their 401k or company pension plan at retirement age and wonder how best to use their lump sum to fund their retirement years. Retirees, like other investors, can invest in any…

When it comes to retirement plans, you could have a defined contribution or a defined benefit plan. If you have a 401k plan offer from your employer, this is not known as a defined benefit plan.…

When your pension is more than 10 percent, the Workplace Safety and Insurance Board pays the pension in monthly installments. You can choose a commutation, taking the pension in one lump sum. Not…

Pensions are becoming more and more rare, but if you have one, you should know how they work. Pensions are typically distributed using annuities. Annuities are insurance products that guarantee an…

The "sum assured" refers to the amount of money that an individual or entity is guaranteed to receive based on their contract for policy. For instance, if someone has a life insurance policy that has…

Pension plans are a type of retirement plan that is funded by a company for the benefit of its employees. The assets are controlled by the company instead of in each individual's name. When a company…

The amount of time that you have to work before receiving retirement benefits will differ depending on what type of retirement account you have and who you work for. Some people take advantage of a…

If you plan on saving so that you can create a retirement income, you may be interested to know if it is taxable. Taxes can cut into your income significantly and during your retirement years, you…

Retirement income usually comes in the form of either a pension or an annuity. In the case of a pension, you may have a choice. Some pensions allow you to manage your own retirement savings. If your…

Retirement plans make up one of the biggest tax expenditures in the entire Internal Revenue Code. There are several types that vary by how benefits are paid, how benefits are earned and the complexity…

Annuities are insurance products designed to help you save money for retirement. However, some people never use their annuity benefits up before they die. If you inherited an annuity that was never…

Pension lump sum recycling is used in the United Kingdom by a member of a pension plan who changes employers. The method, which provides a significant tax advantage, has fallen under more scrutiny by…

Differences in fixed-pension and stock investment choices are functions of how well the individual has saved for retirement and how much risk he can absorb once in retirement. Fixed-pension amounts do…

The 401(k) is an employer-sponsored retirement plan that was established in 1980. Its name comes from the section of the Internal Revenue Service code under which it fell. These plans were designed to…

Insurance companies design and sell insurance products to help you save money for retirement. One type of insurance product commonly used for retirement is an annuity. Annuities guarantee you an…

An actuarial adjustment is a factor used to adjust your pension payments from a retirement plan if you decide to begin receiving your payments before or after the plan's normal retirement date.

Historically, the security of Americans' retirement incomes relied on a "three-legged stool" - a metaphor common among planners and government officials dating back to the early days of Social…

Pension plans and retirement plans are options offered by employers to help employees plan for retirement. A pension plan, also called a defined benefit plan, guarantees a specific monthly retirement…

Pension benefits refer to a variety of retirement benefits that are payable to an employee by an employer. Calculating pension benefits for employees is important to make sure that your employees…

Veterans receive pension benefits based upon a disability percentage concerning the severity of injury the individual may have experienced during wartime. The U.S. Department of Veterans Affairs (VA)…

Microsoft Money is a personal finance software that was discontinued by its manufacturer in 2009 because "personal financial-management software has changed considerably in the 17 years since Money…

Many employers provide pension annuity plans, which support an employee after the employee retires. An employee often has a choice to select from several types of annuities, and may be able to select…

The State of New Jersey's Division of Pensions and Benefits is managed under the Department of Treasury. The division provides health benefits and a variety of retirement schemes specially designed…

Many long-term employees of an organization are, upon retirement, rewarded for their years of dedication with the issuance of a pension--a sum of money paid on a regular basis after you retire. The…

Public Employee Pension and Benefits Reform Act of 2008 is a New Jersey law changing eligibility for the state's public employee retirement system to prevent its projected collapse.

A defined benefit pension plan is a plan where an employer promises an employee a specified monthly amount upon their retirement. The amount is predetermined by a formula based on earnings history,…

Employers can make contributions to a pension plan for an employee, but are not obligated to. Certain pensions, called defined contribution plans, allow employer and employee contributions to have a…

A preserved pension benefit is a pension benefit that is owed to you by a former employer. You have earned preserved pension benefits by working for a company for at least two years. After this time,…

Vesting refers to a pension plan participant’s right to receive the pension benefits. If you participate in a pension plan, your vested benefits are those that you have earned a right to receive…

If you are part of a government pension plan, the IRS defines reasonable ages for pension distributions. These benefits can be paid out prior to private sector benefits, set at 59 1/2. The IRS is very…

Pension benefits allow you to retire from your company and have your retirement funded by your employer, instead of your personal savings. You may be offered the opportunity to split pension benefits…

Pension benefits are determined by one of two methods. Your average pension benefit will depend entirely on the assumptions of your employer and is determined by a calculation he makes about your…

Pension plans are retirement plans funded entirely by your employer for your benefit. Accrued pension benefits represent the total amount of money that has been saved up for your retirement. When you…

Pension benefits are becoming increasingly rare, but if your employer offers a pension plan, you may be able to transfer your plan to a private retirement account when you retire. Pensions are…

Pension and welfare benefits are benefits paid out to employees by a company. A pension and welfare program uses a variety of retirement planning options such as 401(k) accounts, annuities and even…

There are two types of deferred pension plans available to employees. A defined benefit plan specifies the amount of money you will receive during retirement, and this amount is guaranteed by the…

Occupational pension benefits refer to pension benefits paid to a particular union or trade organization. These benefits can be funded in several ways: through life insurance, safe harbor 401(k)…

A pension is a retirement plan funded by your employer that provides you with money to supplement your retirement. Since your employer is making all of the contributions, you don't need to worry about…

Pensions and annuities are both retirement funding schemes. They both pay out regularly, but the payment amount for pensions and annuities differs.

In Canada, almost every worker in the public and private sectors is required to contribute to the Canada Pension Plan (CPP), and those participants are eligible for pension payments after retirement…

Retirement benefits and pensions from companies are basically annuity payments that are funded by employers and managed by insurance companies. These kinds of benefit payments are becoming…

When you retire, you often have a choice in how you will receive your pension benefits. Your decision can affect your immediate retirement income, but can also affect your spouse's income if you die…

Pensions have taken center stage as economic challenges have begun to impact the savings of the Baby Boomer generation, now retiring in large numbers. Self-employed people can fund their own pensions,…

Because pensions are considered community property in a marriage, divorcing women can claim a share of a husband's retirement, and visa verse. However, the laws vary according to state, with pensions…

When receiving retirement funds, you may have many options, especially when it comes to your pension. The two main choices are taking a lump sum or installments, also called annuity payments. Rules…

Some pensions allow the owner to either take a large lump sum at the beginning of the retirement or receive equal annual payments. Using present value of an annuity table, it is possible to calculate…

When planning for old age, you must weigh all options to safeguard your future and that of your loved ones. Canadian old age pension plans help you achieve this. The rates and benefits associated with…

Pension plans offer former employees of institutions the opportunity to have regular payments through their retirement. There are a few different kinds of pension plans available, all of which have…

Introduced in 1966 by the federal government, the Canada Pension Plan (CPP) provides retirement income benefits to all Canadians when they reach the age of 65. The CPP retirement pension forms the…

Any consideration of taking a lump-sum withdrawal from a pension plan should weigh two factors closely—taxes and penalties. Plus, you must consider how confident you'll be about sustaining that…

The Canada Pension Plan (CPP) provides all Canadians over 65 years of age with a modest monthly income. Widowed Canadians and those with no other source of income or savings receive a monthly…

Most working Canadians have regular contributions to the Canada Pension Plan (CPP) deducted from their pay. The CPP is designed to provide income support to Canadians when they retire or if they…

Many companies offer employees various financial incentive plans, including profit-sharing plans. Aside from employer-sponsored plans, investors can supplement retirement savings through Individual…

A pension plan pays out money to the person who owns the plan, usually monthly. Finding the lump sum payment of a pension plan is more commonly known as finding the present value. Using the present…

The Pension Benefits Act applies to every pension plan that is provided for people employed in Nova Scotia. The Minister of Environment and Labor has general supervision and management of the act and…

Pensions can be confusing, even among the most savvy individuals. And if you are nearing retirement age and about to receive monthly pension checks, more questions are likely to arise. The Internal…

Teachers, especially higher education public school teachers, often face the option of phased retirement. This gives future retirees the options of slowly cutting back hours in preparation for…

Many teachers participate in a pension-style retirement benefit for their service. For every year they work, they secure a certain amount of money, which will be paid to them each month in their…

Members of Congress in 2010 are eligible for one of four retirement plans, depending on the date they began legislative service. Laws have been passed throughout the years which have impacted their…

Most working Canadians make Canada Pension Plan (CPP) contributions out of their salaries, which are then matched by their employers. Those who make CPP contributions can qualify for CPP benefits…

A pension plan is a payment arrangement by employers to provide retirement, disability and death benefits to their employees. While payment of future retirement income is the primary benefit of…

Retirement planning inevitably brings up the question, when can I retire? Calculating your pension age gives you the opportunity to plan for the future in terms of saving money and making investments…

If your spouse has passed away and was a Canadian Pension Plan (CPP) contributor, you may be eligible for a CPP survivor's pension. The CPP survivor's pension is paid to the spouse or common-law…

The Ministry of Community and Social Services, through the Ontario Disability Support Program (ODSP), provides financial help to people with disabilities who need assistance in paying for living…

The amount of pension left to a child will be determined by a parent's previous employer and the retirement program they invested in. Typically, a parent will receive a yearly statement that specifies…

If you are an active "A" member in good standing of the IBEW (International Brotherhood of Electrical Workers), you may qualify for an IBEW pension under the guidelines in the "Summary Plan…

The Canadian Pension Plan (CPP) is a federally run, earnings based contributory program in which all Canadian workers over the age of 18 participate. It is one of two significant retirement programs…

The U.S. Department of Veteran Affairs offers servicemen and women specific benefits upon their return home or upon their being relieved of active duty. There are several parts of the benefits plan,…

A defined benefit pension plan is a common retirement option for the employees of large companies. This retirement plan is fulfilled through a promise to pay the retiree a fixed amount for the rest of…

When you get your annual statement from CalPERS, it tells you how much your pension is worth if you cashed it out. Unlike your annual Social Security earnings statements, it doesn't tell you how much…

Retirement should be cause for celebration. Important financial decisions loom throughout your career to improve your chances of transitioning into a comfortable retirement. Employers may offer lump…

Retirement income is taxed at the ordinary income tax rate of the individual. Meaning that your tax rate depends on the amount of money you earn that year, whether it is from a pension, working while…

A defined contribution pension plan is a voluntary program designed to help individuals save for retirement. During their working career, employees invest a percentage of their annual salary, usually…

Unions can provide pensions as a retirement plan for their members. These plans have several tax benefits that workers can take advantage of by participating.

If you work for a large company, it is possible that you have earned a pension benefit that will pay you upon retirement. While pensions have become less popular among large employers over time, many…

According to the U.S. Department of Labor, there are typically two types of pension plans: defined benefit and defined contribution. The former allows benefit payments to be calculated based on…

Personal pensions, employer-provided pensions and various types of annuities are taxable to varying degrees. Some are fully taxable, and some are partially taxable. The difference lies in your actual…

Planning for your own retirement is critical. Don't expect that Social Security benefits will cover your expenses much less afford you the retirement lifestyle you envision.

Millions of workers retire each year hoping that their pensions will be enough to last them for the rest of their lives. Unfortunately, in many cases, retirees will discover that their savings are…

The method of calculating pension benefits will depend on whether a pension is a defined-benefit or a defined-contribution plan. A defined-benefit plan uses an established formula, which is the same…

A pension is an integral part of the resources needed to meet the retirement needs of a worker. Some pensions provide a stream of income for the balance of a worker's life. Studies have shown that…

A pension is a guaranteed periodic payment that is provided to former employees who have retired and worked the requisite number of years for a particular employer. And, because it is eventually owned…

When an employee, retiree or veteran passes away, the surviving spouse, also referred to as a widow if female or widower if male, is entitled to receive any pension benefits the spouse was receiving.…

You may have run across an Internet ad claiming that there are millions of dollars in unclaimed money just sitting around. Most write this off as a scam, but in fact there is truth to this and finding…

Defined-benefit pension plans are retirement plans that provide a specific benefit at retirement and are subject to the terms and conditions of the Employee Retirement Income Security Act (ERISA). The…

Accounting for defined benefits and pension plans is one of the most challenging but critical areas of accounting. A company's pension liabilities and future funding needs are highly sensitive to…

After employees retire, they often live on a fixed income, which comes largely from a pension plan. Pensions are calculated on an employee's salary and how long he was with the company. Many retirees…

When it comes to funding your retirement, you have many different investment vehicles. One of the most popular employer-sponsored plans is the defined benefit pension plan. While this plan has been…

Finding information about an old pension can be difficult if you don't know the proper channels. There are numerous services that will help you track down an old pension for a small fee, but there…

Regular pensions were used by the government and the private sector as financial savings tools for longtime workers when they retire, as a means of supplementing social security income. Although most…

A widow pension is a rarely used financial savings plan designed to cover an individual worker's spouse in case of death. Widow pensions are an historical term, but can be better understood with tips…

A term pension is a financial savings device offered by employers that allows workers to draw on, as a paycheck substitute, when they retire. Learn about term pension savings plans with ideas from a…

Pension plans are retirement accounts offered by employers in which they match a percentage of the employee's yearly contribution to the program. Understand what a pension plan is and how it works…

A pension is a method of financing retirement for workers. Workers pay a percentage of their salary towards the pension each paycheck. This is typically three to five percent per paycheck. In turn,…

There are times when you will find yourself in need of money, and regardless of how hard you try to avoid cashing in your retirement funds, your only liquid asset might be your 401(k), IRA, or pension…

In the United Kingdom (specifically in England and Wales), the Teachers' Pension is a public sector pension program that has more than 1.4 million members. More than 2,000 employers also have active…

When a person with a pension dies, the pension becomes an asset that is sold for cash value and distributed to beneficiaries. Understand that pensions will be subject to different taxes with the…

A pension plan generally refers to a method for compensating employees for their retirement. Discover ways to contribute to a personal pension plan with help from a licensed insurance agent in this…

Aid and Attendance is one part of a 3-tier pension program offered by the United States Department of Veterans Affairs. Those eligible to receive the disability benefit must be limited-income military…

An aid and attendance plan, or A&A, is a special pension available to veterans in addition to a regular monthly pension. This additional plan is meant to help the caregivers of veterans who are now…

Pension plans are one way to defer today's income toward a better retirement. Whether the employer pays the entire amount or you contribute to the plan depends on the type of pension plan. They all…

Pensions and retirement annuities may be fully taxable on your tax return; however, if you contributed to the cost of the pension or annuity plan, part of the distribution to you could be non-taxable.…

Pensions are a great benefit when working in the public sector, but not all pensions are created equally. Don't assume you can retire in a few years and have no worries. Now is the time to figure out…