Retirement is not something unknown or unheard of, yet its consequences often take an individual by surprise. The problem is that most employees prepare themselves for the “goodbye” mentally, but not financially. Employees must not solely rely on the retirement planning solutions provided by their employer, but should also take additional measures to ensure they…

We all have limited time to spend in this world. With an average lifespan of 70 years worldwide, we can easily identify that we spend most of our time working to make ends meet. From the age of three, when activities like schooling begin, people are always busy till the time comes when they finally…

The thought of retiring early and sipping coconut water on a beach in Hawaii for the rest of your life is really nice and appealing. Taking up newer hobbies, traveling around the world, exploring new and exciting places, or just giving time to your family and seeing them achieve their goals can be a beautiful…

Currently, millennials tend to start their careers early and be indebted with big student loans immediately. Given these circumstances, it is easy for this generation to completely ignore the significance of saving money for their future. In 2015, the Government Accountability Office conducted a study in which it was discovered that around 50% of total…

The Michigan Public School Employees Retirement System (MPSERS) is a retirement program for the teachers of Michigan. This program was initiated in 1945. After several modifications, this program started allowing Michigan’s teachers to choose from a variety of different state-funded retirement plans in February 2018. Sometimes, people also refer to this program as Michigan retirement…

The federal Employees Retirement System (FERS) is a retirement system for the civilian employees working in the Federal Government of the United States. It was created by congress in 1986 and became effective on the 1st of January in 1987. It has been covering the retirement coverage of all Federal civilian employees ever since. Major…

As a person nears retirement time; one’s thoughts become occupied with retirement plans to follow to lead a comfortable life. Making a concrete retirement plan can be a difficult task, especially for those individuals who are not equipped with the financial sector. Retirement plans for nonprofits require a special talent to execute and manage. It…

The Federal Railroad Retirement Act of 1974 was enacted on 16th October 1974. The act is based upon principles and recommendations of the report commissioned over the labor-management agreement. The Retirement Act is influenced by the two-tier formula and dual benefits. Some of the salient features of the Federal Railroad Retirement Act of 1974 are stated…

Social Security benefits are a mandatory component of every American’s life. Almost 96 percent of Americans are covered under the benefits of Social Security. Every elderly American is eligible to receive Social Security benefits upon the age of retirement. The retirement age in Texas and other states vary according to the birth year. The retirement…

Full retirement age varies according to the birth years of the individuals. There was a time when it used to be fixed to 65 years for every American. Over the years, Social Security beneficiaries have made several changes in the full retirement age. It was shifted to age 66 for people who were born between…