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Retirement Plan
A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "Defined benefit pension plan, defined benefit plan", where defined periodic payments are made in retirement and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or a "defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "Retirement plans in the United States, retirement plan" and "Superannuation in Australia, superann ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retirement
Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job for health reasons. People may also retire when they are eligible for private or public pension benefits, although some are forced to retire when bodily conditions no longer allow the person to work any longer (by illness or accident) or as a result of legislation concerning their positions. In most countries, the idea of retirement is of recent origin, being introduced during the late-nineteenth and early-twentieth centuries. Previously, low life expectancy, lack of social security and the absence of pension arrangements meant that most workers continued to work until their death. Germany was the first country to introduce retirement benefits in 1889. Nowadays, most developed countries have systems to provide pensions on retirement in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annuity (financial Contracts)
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive. The majority of life annuities are insurance products sold or issued by life insurance companies. However, substantial case law indicates that annuity products are not necessarily insurance products. Annuities can be purchased to provide an income during retirement, or originate from a '' structured settlement'' of a personal injury lawsuit. Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity. The payment stream from the issuer to the annuitant has an unknown duration based principally upon the date of death of the annuitant. At this point the contract will terminate and the remainder of the fund accumulated is forfeited unless there are other annuitants or beneficiaries in the contract. Thus a life annuity is a fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Pension
According to the International Labour Organization, social security is a human right that aims at reducing and preventing poverty and vulnerability throughout the life cycle of individuals. Social security includes different kinds of benefits (maternity, unemployment, disability, sickness, old age, etc.) A social pension is a stream of payments from the state to an individual that starts when someone retires and continues to be paid until death. This type of pension represents the non-contributory part of the pension system, the other being the contributory pension, as per the most common form of composition of these systems in most developed countries. History The need for a social pension dates back to the Industrial Revolution, when the new economic system boosted the mobility of workers, but loosened ties between family members, whose solidarity was protecting people from personal economic deprivation. This, along with impractical voluntary thrift and insurance, resulted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security (United States)
In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). The Social Security Act was passed in 1935,Social Security Act of 1935 and the existing version of the Act, as amended, 2 USC 7 encompasses several social welfare and social insurance programs. The average monthly Social Security benefit for May 2025 was $1,903. This was raised from $1,783 in 2024. The total cost of the Social Security program for 2022 was $1.244 trillion or about 5.2 percent of U.S. gross domestic product (GDP). In 2025 there have been proposed budget cuts to social security. Social Security is funded primarily through payroll taxes called the Federal Insurance Contributions Act (FICA) or Self Employed Contributions Act (SECA). Wage and salary earnings from covered employment, up to an amount determined by law (see tax rate table), are subject to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Insurance
National Insurance (NI) is a fundamental component of the welfare state in the United Kingdom. It acts as a form of social security, since payment of NI contributions establishes entitlement to certain state benefits for workers and their families. Introduced by the National Insurance Act 1911 and expanded by the Attlee ministry in 1948, the system has been subjected to numerous amendments in succeeding years. Initially, it was a contributory form of insurance against illness and unemployment, and eventually provided retirement pensions and other benefits. Currently, workers pay contributions from the age of sixteen years, until the age they become eligible for the State Pension. Contributions are due from employed people earning at or above a threshold called the Lower Earnings Limit, the value of which is reviewed each year. Self-employed people contribute through a percentage of net profits above a threshold, which is reviewed periodically. Individuals may also make volunt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Pension
A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "defined benefit plan", where defined periodic payments are made in retirement and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or a " defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and " superannuation" tend to refer to a pension granted upon retirement of the individual; the terminology va ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US National Guard
The National Guard is a state-based military force that becomes part of the U.S. military's reserve components of the U.S. Army and the U.S. Air Force when activated for federal missions.National Guard: FAQ . . Accessed February 2, 2022. It is a composed of National Guard military members or units of each state, the territories of |
Medal Of Honor
The Medal of Honor (MOH) is the United States Armed Forces' highest Awards and decorations of the United States Armed Forces, military decoration and is awarded to recognize American United States Army, soldiers, United States Navy, sailors, United States Marine Corps, marines, United States Air Force, airmen, United States Space Force, guardians, and United States Coast Guard, coast guardsmen who have distinguished themselves by acts of valor. The medal is normally awarded by the president of the United States (the commander in chief of the armed forces) and is presented "in the name of the United States Congress." It is often referred to as the Congressional Medal of Honor, though the official name of the award is simply "Medal of Honor." There are three distinct variants of the medal: one for the United States Department of the Army, Department of the Army, awarded to soldiers; one for branches of the United States Department of the Navy, Department of the Navy, awarded to sa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Military Retirement Pay
Military retirement in the United States is a system of benefits designed to improve the quality and retention of personnel recruited to and retained within the United States military. These benefits are technically not a veterans pension, but a retainer payment, as retired service members are eligible to be reactivated. The United States has maintained a military retirement program in one form or another since the mid-1800s. The Blended Retirement System (BRS) is the current iteration of military retirement for the United States Armed Forces. The Blended Retirement System combines the defined-benefit retirement system known as "High-3" with an employer matching supplement. Service members on active duty prior to January 1, 2018 are eligible to continue service under the previous system or may elect to join the BRS. All new recruits to the United States military joining on or after January 1, 2018 will automatically be enrolled in the BRS. Military retirement prior to World War I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commission On Veterans' Pensions
The U.S. President’s Commission on Veterans’ Pensions, commonly known as the Bradley Commission after its chairman General Omar N. Bradley, The American Presidency Project was established by on January 14, 1955, and concluded its business after submitting its final report to President in April 1956. Most of the work of the Commission was done by its staff under the direction of the Executive Director, Major General Ernest M. Brannon, and the Technical Adviser, Michael March. The Commission was charged with studying different types of benefits which had been granted to veterans. These included financial benefits such as pension ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ad Hoc
''Ad hoc'' is a List of Latin phrases, Latin phrase meaning literally for this. In English language, English, it typically signifies a solution designed for a specific purpose, problem, or task rather than a Generalization, generalized solution adaptable to collateral instances (compare with ''a priori and a posteriori, a priori''). Common examples include ad hoc committees and commissions created at the national or international level for a specific task, and the term is often used to describe arbitration (ad hoc arbitration). In other fields, the term could refer to a military unit created under special circumstances (see ''task force''), a handcrafted network protocol (e.g., ad hoc network), a temporary collaboration among geographically-linked franchise locations (of a given national brand) to issue advertising coupons, or a purpose-specific equation in mathematics or science. Ad hoc can also function as an adjective describing temporary, provisional, or improvised methods ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of Veterans Affairs
The United States Department of Veterans Affairs (VA) is a Cabinet-level executive branch department of the federal government charged with providing lifelong healthcare services to eligible military veterans at the 170 VA medical centers and outpatient clinics located throughout the country. Non-healthcare benefits include disability compensation, vocational rehabilitation, education assistance, home loans, and life insurance. The VA also provides burial and memorial benefits to eligible veterans and family members at 135 national cemeteries. While veterans' benefits have been provided by the federal government since the American Revolutionary War, a veteran-specific federal agency was not established until 1930, as the Veterans' Administration. In 1982, its mission was expanded to include caring for civilians and people who were not veterans in case of a national emergency. In 1989, the Veterans' Administration became a cabinet-level Department of Veterans Affairs. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
