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Like your married couple counterparts, you've commingled your finances with your significant other and purchased property. If you've split up or are thinking about your future, it's natural to be concerned about what happens to the equity in your joint property when you part ways. Coming to a reasonable and fair division of property can be challenging, especially with emotions involved. Unfortunately, because you're unmarried, you don't have the same claims to property and legal remedies as married couples. However, you can protect yourselves by coming to an agreement -- preferably before you enter the break-up zone -- and getting…
Your retirement plan may be your greatest investment. This money will support you when you can no longer work. Because of this, it's important that you protect this money from loss by making wise investment choices and balancing the risk with the reward you get in your investments. However, you may also need to use this money while you're still working. If so, an in-service distribution may be appropriate for you.
When you stop working for the federal service, you will no longer be allowed to contribute to your Thrift Savings Plan for retirement. If you begin working for a private employer, consider moving your TSP balance into a 401k. This transfer will have no tax consequences and will let you manage your retirement funds in one account.
Conducting layoffs are difficult, and one of the most undesirable tasks for a human resources manager. Telling an employee that his job is ending has a major impact on the employee's family and your workplace. To add to the difficulty, employers must exercise caution when they lay off senior employees because they risk allegations of age discrimination when older workers are laid off before other employees. The Age Discrimination in Employment Act and the Older Workers Benefit Protection Act are federal laws that protect workers over 40 years old from discriminatory employment practices.
The U.S. military has thousands of active-duty soldiers and officers, but it also keeps a reserve of military personnel that it can call into action during wartime to bolster its forces. Military reservists go to training exercises or drills on weekends and may partake in longer exercises during the week from time to time. Pay of military reservists depends on the number of drills completed, years of experience and rank.
"Buyouts" and "severances package" have quite a bit in common. Perhaps the most important thing is that if you're being offered either one, you might not be working for your employer much longer. The terms are often used interchangeably, but severance can go to anyone who loses a job, while a buyout is an offer designed to get people to leave.
When companies need to downsize to save money, they often use retirement buyout packages to entice their older and higher-paid workers to retire early. These retirement buyout packages can be a good deal for both workers and businesses, but employees should examine them closely before signing up. There are a number of things to consider with a retirement buyout, including the potential for income generation and, of course, future healthcare costs.
Vested or vesting refers to earning control over a financial account. To become vested or to earn vesting an investor must complete, perform or make a commitment in accordance with the vesting rules of a plan. The vesting rules may specify a time of service, years of employment or the length of participation in the plan.
Filing for Combat-Related Special Compensation (CRSC) gives military retirees the opportunity to collect their military retirement pay in addition to disability compensation from the Department of Veterans Affairs. The claim compensates for the reduction of the retirement benefit that was offered to the retiree at the time of receiving the VA compensation. Retirees can receive either partial or full amounts of their retirement pay and VA compensation after the approval of a successful CRSC claim. Appropriate calculations need to be made and filled out correctly in the CRSC form.
The Marine Corps is a division of the U.S. Navy, and drilling reservist pay scales are the same for all military branches. Several factors determine reserve pay, such as rank, service time and time in rank. Reservists receive pay on a monthly basis for a one weekend drill.
One of the key building blocks available to you for retirement is the 401k. It is a popular form of saving offered by the Internal Revenue Service, and came into law in the early 1980s. Investing in a 401k plan has many benefits, all of which make it an attractive option for anyone at no matter what age.
As you reach the typical retirement age of 65, you may be wondering if you should call it quits on your career and ride off into the sunset. It is a common dilemma for many as they hit their late 50s, but analyzing your personal situation and talking to a financial planner can help you decide how long to remain employed and when to retire.
In the U.S. Air Force, the pay rate of E-3 corresponds to the rank of airman first class. These service personnel are relatively new to the Air Force, usually with less than three years of military service under their belts. An E-3 will receive a pay raise for each year of service up to the third year. Pay is then capped and the airman is expected to move up through the ranks.
The pay scales for officers serving with the Air Force Reserve are paid in terms of a base rate and drill pay. The amount an officer will receive depends on his rank, the amount of drills performed each month and his years of service with the Air Force Reserve. Reservists also receive tuition fee reimbursement.
The Defense Finance and Accounting Service publishes the pay scale for the Air Force. The pay scale shows the monthly pay rate for each enlisted and officer rank in the Air Force along with other important pay information such as allowances, cost of living adjustments and an annual pay raise approved by the U.S. Congress.
Air Force members receive a base pay determined by their military rank and years of military service. Additional pay and allowances, such as family separation pay, are also afforded to some Air Force members based upon duty location and assignment. The Air Force is aware that this money does not make up for the fact that the member must be separated from their dependents; it is simply an allowance to help pay for extra expenses that might be incurred while the airman is away from home.
California workers receive retirement benefits from three different plans. A 2010 report by the Stanford Institute for Economic Policy Research about California state retirement programs revealed serious problems in pension funding. The report indicated that a funding shortfall could reach an estimated one-half trillion dollars in years to come. Researchers concluded that only changes in member contribution, asset management and benefit levels could avert a catastrophe.
There's more than one way to save for retirement. Saving through a retirement plan offered by an employer is one popular way that many people use. However, contributing to a work retirement plan or even being eligible to contribute to one may affect contributions you can make to an individual retirement plan. If your employer offers a retirement plan, it's important to understand not only the benefits but the criteria to be eligible to participate in the program.
Employer-sponsored retirement plans such as 401k or profit-sharing plans accumulate retirement money through the employee's and employer's contributions. The account balance of an employee is divided into vested and non-vested portions. The vested amount is the amount an employee may take with him should he leave the plan -- or in the case of a 401k, when he leaves his job. You can get the vesting information for your employer-sponsored 401k plan from the plan documents.
Civil service employment often comes with generous benefits, particularly with regard to retirement. However, resignation and retirement are two very different things--resignation is just a matter of putting in your notice and ceasing to arrive at work each morning, while retirement is a more complicated matter of making sure you meet the right criteria.
The Civil Service Retirement System (CRSC) covers federal employees who began work before January 1, 1987. According to the U.S. Office of Personnel Management (USOPM), the CRCS began in 1920 and was replaced by the Federal Employees Retirement System for those entering eligible service after 1987. CRCS employees may contribute a percentage of salary varying from seven to eight percent to this defined benefit annuity system, with their federal agency matching the contributions.
Though the Navy's different retirement programs may seem overwhelming, the application process is actually quite simple. The Navy provides a few different options for retirement, each of them with their own specific qualifications. Regardless of the plan you qualify for, you can expect your retirement pay to be between 50 and 75 percent of your previous salary. In other words, the higher your salary was during service and the longer you worked for the Navy, the higher your retirement pay will be.
A career with the U.S. Navy yields many benefits, one of which is a variety of quality retirement programs. If you've worked for the Navy or Navy Reserve for 20 years and you are at least 60 years old (usually), you should be qualified to start collecting your retirement benefits. The Navy offers four main kinds of retirement programs; Final Pay, High-36, REDUX, and Disability; each of which has its own requirements and policies.
You've worked hard to defend your country--now it's time to relax, enjoy life, and collect your hard-earned retirement benefits. If you are at least 60 years old and have 20 years of Navy work (active duty or reserve) under your belt, you're qualified to receive retirement benefits. You may also require for disability retirement if you've been injured during active duty at any age. Navy Retirement Benefits are divided into five main plans: Final Pay, High-36 Month Average, REDUX, Permanent Disability and Temporary Disability. Requirements vary for each type of retirement plan.
Although retirement packages for active-duty members of all branches are uniformly paid by the Department of Defense to retired veterans, it's still difficult to determine what retirement plan you qualify for--and in many cases, which will serve you better--when you begin to plan your retirement from the Air Force. All service members much reach 20 years of active duty, or equivalent service in the reserves, to qualify for Air Force retirement plans, and retirement pay is partially calculated by when they entered the service.
Soldiers are eligible for retirement benefits upon completing 20 years of active duty service in the U.S. Army. There are currently three retirement plans available for retiring soldiers; benefits depend on when the soldier began active duty.
The number of Americans reaching retirement age is steadily increasing. The Urban Institute, a Washington D.C.-based economic and social policy research group, reports that the number of Americans age 65 and over will increase from about 13 percent in 2008 to 20 percent by 2040. In Maryland, the U.S. Census Bureau estimates that 11.8 percent of the population was 65 or older, as of 2008. For those contemplating retirement, financial planning services are invaluable.
Some employers offer retirement plans through the company, such as 401k plans, which permit employer contributions to the account. Vesting refers to the service required for an employee to keep the employer contributions when he leaves the company.
Although many workers use a 401(k) to simultaneously plan for retirement while lessening their tax burden, they might be disqualified from receiving tax advantages if these plans are not properly administered. While the Internal Revenue Service has increased oversight on regulating these plans, administrators in charge of 401(k) plans must comply with thousands of IRS regulations on plans. If a plan is audited and found noncompliant, the plan and its members may be liable for additional taxes and fees.
A 401k plan is regulated by the Internal Revenue Service's Section Code 401(k). Under these provisions and regulations, employers are able to set up a retirement savings account on behalf of employees. The employees are allowed to make contributions and employers can elect to add to employee accounts as well.
California civil service employees automatically have part of their salary deducted for the California Public Employees Retirement System (CalPERS). This contribution is pre-taxed; it accrues interest and that interest is not taxed while it remains in CalPERS. The total amount saved in an individual's CalPERS account is meant to sustain a comfortable retirement.
Planning for retirement can seem like an overwhelming task because of all the different options and services available. With the recent recession and instability of the job market, many people may be wondering if they can retire at all. There are a variety of retirement tools available for people who wish to determine what retirement plan works best for them, with several financial planning and retirement calculators, financial services and retirement guides.
An Explanation of Benefits (EOB) form is an itemized summary of services that informs consumers of recent health insurance claims. The EOB lets consumers know what the provider has billed the insurance company, how much of that cost was covered and how much the consumer might need to pay. Although insurers might organize their EOBs differently, the content is fairly uniform. Information listed on the form usually includes a claim summary, payment summary and claim details.
Both qualified plans and Individual Retirement Accounts are long-term investment accounts designed to provide retirement savings for an investor. While all have similar tax benefits, each type of plan has various restrictions and requirements that differentiate it from the others.
There are frequently two types of separation monetary payments made to leaving employees who are not departing on the basis of quitting, termination or for medical reasons. These two categories are retirement and buyouts. They are unique and different from each other and should not be confused. That said, for those who are nearing the end of their career, both options can seem attractive, depending on the individual employee's retirement plans.
Regency Retirement Resorts offers three modern retirement communities in the Kelowna, British Columbia, area to choose from. Regency has a selection of one- and two-bedroom floor plans to choose from, including units with private balconies. Regency Retirement Resorts include health spas, movie theaters, country kitchens, sports lounges, dining lounges and much more. Rental packages include apartment rental, evening meals, all utilities except phone service, weekly housekeeping services, cable TV service and more. All apartments include an initial one-year lease, with month-to-month terms after the completion of the lease.
Lean principles are used in manufacturing and production to emphasize that any resources used for anything other than creating value for the end customer has been wasted. ean principles strive to retain the concept of form following function.
Years of service in the armed forces as a reservist do not convert directly into active duty years. Instead, reservists are awarded retirement points for certain activities in which they participate. Each year in which a reservist earns 50 retirement points counts as a qualifying year toward retirement. The year is calculated from the day you enter reserve status (called an "anniversary year"). A reservist must obtain 20 qualifying years of service to qualify for retired pay benefits. When considering whether an anniversary year qualifies toward retirement, points should be assessed and totaled according to the following guidelines.
The cellphone penetration in the U.S. has been over 80%, and cellphone has been part of everyone's life. However, the monthly cellphone related charges have not declined, instead, it has been either stable or on the upward trend. How to cut your wireless bill? Prepaid plan is a very good option. This article helps you decide what is the best prepaid wireless deal for you.
Gold has traditionally been used as a hedge against inflation and a bad economy. Since the economic collapse in 2007, many people have seen their 401k value diminish, and many are looking for a way to diversify into gold. There are a couple of ways to do this.
The U.S. Army provides soldiers with benefits that extend beyond active duty. Planning for retirement is important for those who want to enjoy the fruits of their labor later in life. The Defense Finance and Accounting Service details the following information for U.S. Army Retirees.
Americans have been retiring to Mexico for decades, attracted to the country's proximity to the United States, affordability, rich cultural traditions, beautiful areas, temperate climate and hospitality to foreigners. For those considering making the big move to Mexico, you are walking a well-trodden path. A wealth of information is available to you about how to enjoy your retirement in Mexico.
When shopping for a house, most people often look at homes that are occupied. Since the house is full of furniture, home buyers often overlook flaws in the floor plan. When house-hunting, it pays to take a moment to look objectively at the floor plan to reveal common problems that may exist. Read on to learn how to spot flaws in a floor plan.
