Planning For Retirement Who Should Be Contacted
Every individual cares for his or her future and plans for retirement.
But planning a retirement has always been surrounded by one question --“who should be contacted?” Retirement plans are the best option for individuals who have this query in their mind. A retirement plan is nothing but an arrangement to provide an individual with income, or pension when there is no steady income from employment, and this happens only after retirement.
Retirement plans, also known as pension schemes (in the UK) or superannuation plans (in Australia) is the first step for a safe and secure retirement planning.
Most individuals choose a defined contribution plan. The defined contribution plan will provide a payout at retirement. But it is dependent on the amount of money contributed and the performance of the investment vehicles utilized. The best examples of defined contribution plans include IRA (Individual Retirement Accounts) and 401(k) plans. The employees are responsible for selecting the types of investments. Most retirement-plans that are self-directed have certain tax advantages and some provide employers contributions also.
Options for Federal Employees :
- In order to avail health insurance and other benefits, it is advised to contact the Extension Operations Office for Information on Civil Service Retirement System and the Federal Employees Retirement System.
- An employee must apply for Social Security retirement checks about three months before he or she plans to stop working. In order to apply for the benefits, the employee should contact the local Social Security office for an appointment and provide necessary documents including Social Security card, earning estimates after the retirement date, information and documentation about military service, marriage and divorce.
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