Though many public sector retirees receive a monthly pension, many also rely on Social Security benefits to supplement their retirement income. It is important to understand factors that may affect your Social Security benefits and influence your retirement decisions.
If you are retired, or getting close, it’s important to plan the best route to make your income last. One of the most important things includes, avoiding the five most common pitfalls:
Dust Off Your Estate Plan
Last quarter, we talked about establishing an estate plan. If you have one set up, it’s important to review it every three years to help ensure alignment with the law and your wishes. There are ten common pitfalls of an outdated estate plan.
The July 2016 quarterly newsletter is part of a series of newsletters discussing your retirement road-map.
The Deferred Retirement Option Program (DROP), available under the Florida Retirement System (FRS) Pension Plan, allows a member to retire while continuing employment for up to 60 months. While in the DROP, the member’s retirement benefits accumulate in the FRS Trust Fund and earn monthly interest equivalent to an annual stated rate. In most cases, the DROP participants must cease employment after the maximum 60 months in the DROP. Once the FRS employment ends, the participant can select one of three payout options. (more…)
The April 2016 quarterly newsletter is part of a series of newsletters discussing your retirement roadmap. (more…)
The recent budget agreement did more than authorize the federal government to engage in additional borrowing, it also changed the rules for claiming Social Security. Going forward, two claiming strategies that had given some couples the potential for higher lifetime benefits will no longer be available.
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