Saving for Retirement

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What Is 401(a) Retirement Plan?

A 401(a) retirement plan is an employer-sponsored money-purchase plan that allows you to save money for retirement. Similar to other retirement accounts, 401(a) plans offer employees tax advantages. The employer defines how much the company contributes and the requirements you ...

What to Do With Money in a 403(B) Retirement Plan When Leaving a Job

A 403(b) plan, also called a tax-sheltered annuity, is a tax-advantaged retirement plan for tax-exempt organizations, ministers and public school employees. If you leave your job, you typically have a few options with what to do with your 403(b) money. You may have to check with ...

When You Roll Over an IRA or Annuity Do You Pay Taxes?

An individual retirement account and an annuity are both used in retirement planning, but they are different instruments. An IRA is a sort of savings account, usually established with a bank or other financial institution. An annuity is a contract with a life insurance company ...

How Does Civil Service Retirement Affect Social Security Benefits?

Social security is a pay-as-you-go system that requires contributions during your working years in order to collect benefits at retirement. Although federal civil service employees pay into a retirement system, the “system” is not always covered under Social Security ...

Is There a Cap on Two-Earner Social Security Retirement Benefits?

If you've worked and paid into the Social Security system, then you're entitled to retirement benefits, either at age 62 (for early retirement) or later. The amount of your monthly Social Security benefit depends on your lifetime work record and the amount you've earned over all ...

How to Invest for Retirement When You're 40

Investing for retirement at age 40 is different from investing in your 20s and 30s. Since there are fewer years until retirement -- say, 25 as opposed to 45 -- you must lower the degree of risk, focusing less on emerging markets and start-up companies and more on blue-chip ...

How to Transfer Ownership of an Annuity in a Trust

An annuity is one way to save for retirement that offers some tax advantages that differ from commonly used retirement accounts, such as an IRA or an employer-sponsored 401(k). The primary tax benefit of an annuity is that your account earnings are tax deferred -- that is, you ...

How Does TSP Matching Work?

Working for the federal government features a variety of benefits, including having your agency contribute to your thrift savings plan. If you are a federal civilian employee who was hired after January 1, 1984, you are eligible for matching contributions. If you don't take full ...

How Do I Calculate Future Retirement Pay?

Calculating the future value of your retirement accounts lets you know if you are setting aside enough money today. If you participate in your employer’s sponsored retirement plan, your contributions are automatically withdrawn from your paycheck. Your retirement account ...

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