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Retirement Funds Administrators (Mexico)
Retirement Funds Administrators (AFORE) () are companies authorized to manage Mexican individual retirement accounts as authorized by the Ministry of Finance and Public Credit of Mexico. They are structured as companies that manage these funds under strict regulations. These administrators are regulated by the ''Comisión Nacional del Sistema de Ahorro para el Retiro'' (CONSAR). AFOREs manage accounts that accumulate contributions by the employer, the Mexican federal government and the employee. The fund will then payout on retirement of the employee at the age of 65 or on other specific criteria. Sub-accounts Individual retirement accounts are split into four separate sub-accounts which are: Retirement, lay-off and old age This sub-account contains funds contributed by the employer, federal government and employee. * The employer contributes with an equivalent to 2% of the employee's salary to ''retirement'' and 3.15% of the salary to the ''lay-off and old age'' account. Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Individual Retirement Accounts
An individual retirement account (IRA) in the United States is a form of pension provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age. An individual retirement account is a type of individual retirement arrangement as described in IRS Publication 590, ''Individual Retirement Arrangements (IRAs)''. Other arrangements include individual retirement annuities and employer-established benefit trusts. Types There are several types of IRAs: * Traditional IRA – Contributions are mostly tax-deductible (often simplified as "money is deposited before tax" or "contributions are made with pre-tax assets"), no transactions within the IRA are taxed, and withdrawals in retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions that were not deducted). Depending upon the nature of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Layoff
A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) for business reasons, such as personnel management or downsizing an organization. Originally, ''layoff'' referred exclusively to a temporary interruption in work, or employment but this has evolved to a permanent elimination of a position in both British and US English, requiring the addition of "temporary" to specify the original meaning of the word. A layoff is not to be confused with Wrongful dismissal, wrongful termination. ''Laid off workers'' or ''displaced workers'' are workers who have lost or left their jobs because their employer has closed or moved, there was insufficient work for them to do, or their position or Shift work, shift was abolished (Borbely, 2011). Downsizing in a company is defined to involve the reduction of employees in a workforce. Downsizing in companies became a popular practice in the 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mexico Pension Plan
Mexico reformed its pension system in 1997, transforming it from a pay as you go (PAYG), defined benefit (DB) scheme to a fully funded, private and mandatory defined contribution (DC) scheme. The reform was modeled after the pension reforms in Chile in the early 1980s, and was a result of recommendations from the World Bank. On December 10, 2020, the Mexican pension system would again undergo a major reform. Structure Participants in the Mexican system choose from a variety of private pension fund managers called Administradores de Fondos para el Retiro (AFOREs). AFOREs are responsible for managing individual accounts and investing savings in the pension funds called Sociedades de Inversion Especializadas para el Retiro (SIEFOREs). SIEFOREs are separate legal entities with their own Board of Directors, and segregated assets from AFOREs. Pension system prior to 1995 reforms In 1943 the Mexican government ratified legislation designed to provide its workers with social insuran ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disability
Disability is the experience of any condition that makes it more difficult for a person to do certain activities or have equitable access within a given society. Disabilities may be Cognitive disability, cognitive, Developmental disability, developmental, Intellectual disability, intellectual, mental disorder#Disability, mental, physical disability, physical, Sense, sensory, or a combination of multiple factors. Disabilities can be Birth defect, present from birth or can be acquired during a person's lifetime. Historically, disabilities have only been recognized based on a narrow set of criteria—however, disabilities are not binary and can be present in unique characteristics depending on the individual. A disability may be readily visible, or Invisible disability, invisible in nature. The United Nations Convention on the Rights of Persons with Disabilities defines disability as including: Disabilities have been perceived differently throughout history, through a variety of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illness
A disease is a particular abnormal condition that adversely affects the structure or function (biology), function of all or part of an organism and is not immediately due to any external injury. Diseases are often known to be medical conditions that are associated with specific signs and symptoms. A disease may be caused by external factors such as pathogens or by internal dysfunctions. For example, internal dysfunctions of the immune system can produce a variety of different diseases, including various forms of immunodeficiency, hypersensitivity, allergy, allergies, and autoimmune disorders. In humans, ''disease'' is often used more broadly to refer to any condition that causes pain, Abnormality (behavior), dysfunction, distress (medicine), distress, social problems, or death to the person affected, or similar problems for those in contact with the person. In this broader sense, it sometimes includes injury in humans, injuries, disability, disabilities, Disorder (medicine) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accident
An accident is an unintended, normally unwanted event that was not deliberately caused by humans. The term ''accident'' implies that the event may have been caused by Risk assessment, unrecognized or unaddressed risks. Many researchers, insurers and attorneys who specialize in unintentional Injury in humans, injury prefer to avoid using the term ''accident'', and focus on conditions that increase risk of severe injury or that reduce injury incidence and severity. For example, when a tree falls down during a wind storm, its fall may not have been directly caused by human error, but the tree's type, size, health, location, or improper maintenance may have contributed to the result. Most car crashes are the result of dangerous behavior and not purely ''accidents''; however, English speakers started using that word in the mid-20th century as a result of media manipulation by the US automobile industry. Accidental deaths were much less frequent before high-powered machinery began to sp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Death
Death is the end of life; the irreversible cessation of all biological functions that sustain a living organism. Death eventually and inevitably occurs in all organisms. The remains of a former organism normally begin to decompose shortly after death. Some organisms, such as '' Turritopsis dohrnii'', are biologically immortal; however, they can still die from means other than aging. Death is generally applied to whole organisms; the equivalent for individual components of an organism, such as cells or tissues, is necrosis. Something that is not considered an organism, such as a virus, can be physically destroyed but is not said ''to die'', as a virus is not considered alive in the first place. As of the early 21st century, 56 million people die per year. The most common reason is aging, followed by cardiovascular disease, which is a disease that affects the heart or blood vessels. As of 2022, an estimated total of almost 110 billion humans have died, or rou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marriage
Marriage, also called matrimony or wedlock, is a culturally and often legally recognised union between people called spouses. It establishes rights and obligations between them, as well as between them and their children (if any), and between them and their Affinity (law), in-laws. It is nearly a cultural universal, but the definition of marriage varies between cultures and religions, and over time. Typically, it is an institution in which interpersonal relationships, usually sexual, are acknowledged or sanctioned. In some cultures, marriage is recommended or considered to be Premarital sex, compulsory before pursuing sexual activity. A marriage ceremony is called a wedding, while a private marriage is sometimes called an elopement. Around the world, there has been a general trend towards ensuring Women's rights, equal rights for women and ending discrimination and harassment against couples who are Interethnic marriage, interethnic, Interracial marriage, interracial, In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Old Age
Old age is the range of ages for people nearing and surpassing life expectancy. People who are of old age are also referred to as: old people, elderly, elders, senior citizens, seniors or older adults. Old age is not a definite biological stage: the chronological age denoted as "old age" varies culturally and historically. Some disciplines and domains focus on the aging and the aged, such as the organic processes of aging (senescence), medical studies of the aging process (gerontology), diseases that afflict older adults (geriatrics), technology to support the aging society (gerontechnology), and leisure and sport activities adapted to older people (such as senior sport). Older people often have limited regenerative abilities and are more susceptible to illness and injury than younger adults. They face social problems related to retirement, loneliness, and ageism. In 2011, the United Nations proposed a human-rights convention to protect old people. History European The hist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secretariat Of Finance And Public Credit (Mexico)
The Secretariat of the Treasury and Public Credit (, SHCP) is the finance ministry of Mexico. The Secretary of the Treasury is the head of the department, and is a member of the federal executive cabinet, appointed to the post by the President of the Republic, with the approval of the Chamber of Deputies. Recently, the institution has been promoting a financial inclusion policy and is now a member of thAlliance for Financial Inclusion This position is analogous to the Secretary of the Treasury in the United States of America or to the finance ministers of other nations. *Proposes and directs the Federal Government’s economic policy as regards finances, tax, spending, income and public debt and statistics, geography and information, in order to ensure quality, equitable, inclusive and sustained economic growth. Mexican Customs Bureau (''Administración General de Aduanas'') is part of the Mexican Tax Administration Service, the government body entrusted with the collectio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mexican Federal District
Mexico City is the capital city, capital and List of cities in Mexico, largest city of Mexico, as well as the List of North American cities by population, most populous city in North America. It is one of the most important cultural and financial centers in the world, and is classified as an Globalization and World Cities Research Network, Alpha world city according to the Globalization and World Cities Research Network (GaWC) 2024 ranking. Mexico City is located in the Valley of Mexico within the high Mexican central plateau, at an altitude of . The city has 16 Boroughs of Mexico City, boroughs or , which are in turn divided into List of neighborhoods in Mexico City, neighborhoods or . The 2020 population for the city proper was 9,209,944, with a land area of . According to the most recent definition agreed upon by the federal and state governments, the population of Greater Mexico City is 21,804,515, which makes it the list of largest cities#List, sixth-largest metropolitan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
