How much will you need for retirement? For many people, the magic number seems to be $1 million. “I think a million dollars is a good goal to have in mind, but it depends on a person’s unique circumstances,” says Mindy Yu, director of investing for Betterment, a 401(k) retiremen...
ERISA is administered and enforced by the U.S. Labor Department’s Employee Benefits Security Administration, the Internal Revenue Service and the Pension Benefit Guaranty Corporation. “Basically, the federal government put this in place to help protect retirement assets, so there's not as much ri...
How to make the most of military retirement benefits for Army, Air Force, Navy, Coast Guard and Marine Corps.
This may be applicable whenever the Federal Reserve raises its benchmark interest rate and as you consider how interest rates affect retirement plans. Take interest rate changes in stride Higher interest rates have implications for savers everywhere, and you may be wondering: How will rising interest...
How to hire employees: Legality comes first Not sure how to hire employees for a small business? Before you can scale into aprofitable business, navigating the legal requirements of bringing on your first team members is essential. Here's a breakdown of the key steps and documents you need ...
Ask three financial experts how much you need to save for retirement, and you might get three different answers: a specific number, say $1 million; a figure based on future spending, such as enough to draw down 80% to 90% of your pre-retirement income every year; or a simple formula,...
How much is needed for health care costs in retirement? On average, according to the 2024 Fidelity Retiree Health Care Cost Estimate, a 65-year-old individual may need $165,000 in after-tax savings to cover health care expenses. This amount is up nearly 5% from 2023. Of course, the amo...
How is a pilot’s salary calculated? First of all, remember thatairline pilots are paid by the hour for actual hours flown. They are not paid per flight. Federal law requires that airline pilots are to fly no more than 1,000 hours per year. This is to ensure they are well rested and...
The Federal Employees Retirement System (FERS) is a retirement plan that covers all employees in the executive, judicial, and legislative branches of the federal government. Employees underFERSreceive retirement benefits from three sources: the basic benefit plan, Social Securit...
The Civil Service Retirement System (CSRS) is a system that provided retirement, disability, and survivor benefits for most U.S. civilian service employees working for the federal government. It was replaced in 1987 by the Federal Employees Retirement System (FERS). However, employees who were o...