The thought of retire early may be an illusion for some and a punishment for others. Everything is, as the saying goes, depending on how you look at it. First, is it the decision whether retirement is voluntary or forced? Often when companies offer their employee early retirement is not really such an offer since the other option is to be fired. (more…)

Among the variety of retirement plans you can pursue, some qualify for tax deferral by the regulations of the federal government, and others don’t. The federal government passed the Employee Retirement Income Security Act (ERISA) regulation in 1974. This legislation and its requirements determine whether a retirement plan offered by employers or an employee organization (such as a union) qualifies for tax deferral of investment and interest until retirement age. (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…)

You are eligible for your employer’s pension plan if you have worked there for one year and at least 1000 hours. Employers offer two basic types of retirement accounts—defined contribution plans or defined benefit plans.

Defined contribution plans are characterized by an annual contribution being made for each employee. (more…)

There are many options for small business owners, but some may be sweeter than others

As no-brainers go, this one is right up there: Rather than sink all your cash back into your business, you should funnel some into your own retirement. But a tough economy like this one often tempts small business owners to skimp, figuring they’ll make up the savings later. Problem is, “later” often never comes: Just 22% of small and mid-size employers have set up employee retirement plans, according to the National Small Business Association. “Many are deterred by the potential costs and find it difficult to navigate the options,” says Tom Biddison, a principal at Cornerstone Financial in Baltimore. (more…)