Pension and annuity retirement policies were first implemented as a means to encourage older workers in employment to look for another jobs. Retirement has become a norm, the expected life of the stage, which has an institutionalized part of most modern societies. Workers expect to retire actively choose to withdraw from workforce as quickly as they are financially feasible. Once they are retired, they are expected to enjoy their life and get satisfaction with their lives. (more…)

The Group Retirement Account (or “GRA”) and the Group Supplemental Retirement Account (or “GSRA”) resemble the Retirement Annuity account and the Supplemental Retirement Annuity account in many respects. There are, however, some fundamental differences between the group accounts and their nongroup counterparts.

Both the RA and the Group Retirement Account are contracts with TIAA-CREF. (more…)

A defined benefit plan is the granddaddy of retirement plans. Unfortunately, in the years to come, these plans will likely become the retirement equivalent of a dinosaur. In a defined benefit plan, as noted earlier, an employee’s years of loyal service are rewarded with the continuation of income post retirement based on a predetermined formula defined by the company. These formulas vary from company to company, so if you’re covered by a defined benefit plan, be certain to ask your human resources department to provide you with the information you need to review your benefits. (more…)

You are the only one who can determine whether or not you will have enough to live on after you retire. You will not know much money do you need to retire, before you retire you take the time to find out the answers to a few questions. Neither will worry about the situation or taking the point of view that you will cross that bridge when you get there help much. Once you have the facts you can begin to plan for your future security. (more…)

Do you want your retirement years to be lively? Is your current job, or career, fulfilling for you? If so, then maybe you are going to be joining the happy, busy ranks of those, more than 70% according to a recent A.A.R.P. survey, who are planning a “working retirement.” If working past your retirement date seems grim, then cheer up. There is a silver lining if you know where to look.

1) Continuing at your current job has its positives - you know the job. There are no learning curves, or the awkwardness of being the new kid. (more…)