New Government Rule Targets Retirees – Social Security Garnishments Return for This Group of Retirees

New Government Rule Targets Retirees – Social Security Garnishments Return for This Group of Retirees

Article Excerpt: "...There are millions of Americans who rely on Social Security as a financial backbone, especially for seniors. As of this summer, a change of policy means that an approximate 15% of benefits could be garnished for recipients who are behind on their federal student loans. This could cause a major impact on millions of citizens.

There are over 5 million citizens who are in default on their federal student loan. According to NBC New York, these rates are increasing.

Amongst these defaulters are retirees and vulnerable populations. ..."

Resource: www.grada3.com

Social Security Garnishment,Attacks on Retirees, Retirement,

Reddit is a great source of information relating to 'retirement'

Reddit is a great source of information relating to 'retirement'

Article Excerpt: "Dive Into Anything. Reddit is home to thousands of communities, endless conversation, and authentic human connection. Whether you're into breaking news, sports, retirement information, TV fan theories, or a never-ending stream of the internet's cutest animals, there's a community on Reddit for you. ..."

Resource: www.reddit.com

Retirement, Learning,Education, Communities, Reddit,

Taxes in Retiremnet: Alabama taxes groceries!

Eliminating state grocery tax would make life better for Alabama families

Alabama’s sales tax on groceries is a cruel tax on survival, particularly in times of economic insecurity. It increases hunger rates and drives struggling Alabamians deeper into poverty. Two bills in the 2022 regular session – SB 43 by Sen. Andrew Jones, R-Centre, and HB 173 by Rep. Mike Holmes, R-Wetumpka – would end the state grocery tax while protecting school funding. The graph below shows how millions of Alabamians would benefit.

Reference: Alabama Arise

Taxes in retirement,Alabama, Grocery Tax, States that tax essential goods,retirement,Destruction of Retirees,

The Great Retirement: Who Is Most Likely to Retire?

The Great Retirement: Who Are the Retirees?

Article Excerpt: "...focuses on the continued exit from the labor force of workers, primarily those age 65 and older. ...The rate of retirements exceeds that predicted by the demographic shift of baby boomers into retirement." Veterans were more likely to be retired versus nonveterans, especially among those workers ages 65 to 74. ...

Resource: www.stlouisfed.org

The Great Retirement, Baby Boomers, Veterans, Retirement,

USPS News Link | Postal news and information

Post USPS | Former employees have rules for new jobs

Article Excerpt: "...The Postal Service wants you to know about the rules that apply to retirees and other former employees. After leaving USPS, former employees may accept a new job with any employer. Depending on what their postal duties were, they may be prohibited from interacting with the Postal Service for a certain time period. ..."

Resource: link.usps.com

USPS News Link | Postal news and information,

Retirement Services FERS Information - OPM

Retirement Services FERS Information - OPM

Article Excerpt: "FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement. The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. Your agency pays its part too. Then, after you retire, you receive annuity payments each month for the rest of your life. The TSP part of FERS is an account that your agency ..."

Resource: www.opm.gov

FERS Explained,FERS,retirement,

Now I’m delivering novel turns of phrase

https://news.yahoo.com/now-m-delivering-novel-turns-061506591.html

Now I’m delivering novel turns of phrase

Article Excerpt: "...When I was a mail carrier, my days off rotated through the week. I got one actual weekend off every six weeks, and worked all the other Saturdays. I loved that postal schedule, though. It was great to have days off in the middle of the week when other people were working. Stores were empty, and I had hiking trails to myself. I had signed on as a letter carrier at age 23, aware that I would be able to retire at 55, and even back then I knew it was a great deal. ...All I did was stick mail into the holes in people’s houses, and my former salary impresses no one. But I did retire rich. It’s easy to do if you have a solid middle-class union wage and a bit of a pension, and your idea of entertainment is to juice birds and make a bunch of stars."

Resource: yahoo.com

retirement

Government programs for older people that you may not know about

Special Government Help for Your Retirement

Article Excerpt: "...Other government programs are also available, but many older citizens do not participate for a variety of reasons, including lack of knowledge about available programs and the complexity of the application process.3 Read on to learn about what's available, who qualifies, and how to obtain help..."

Resource: www.investopedia.com

Young Americans Are Saving For Retirement Sooner

Article Excerpt: "...millennials and members of Generation Z—started saving much earlier than their parents, which means their assets will have more time to grow. “People are doing an admirable job,” said Catherine Collinson, president and CEO of the Transamerica Center for Retirement Studies. “With everything that they’ve had to face, it’s very impressive people are still planning about their future..."

Resource: www.forbes.com

6 Considerations For Retirees To Pay Off Your Mortgage Early

Article Excerpt: "...If you plan to pay off your loan by taking a withdrawal from a 401(k) or IRA, you may want to reconsider for tax purposes. For example, if your current income puts you in the 12% tax bracket and taking a large distribution puts you in the next tax bracket (22%)..."

Resource: www.forbes.com

When retirement is more valuable than disability compensation

Article Excerpt: "... simulations found that, for those on Reduced FECA, FERS retirement benefits generally offered greater value if the employee had served more than 19 years as a federal employee without an injury. Meanwhile those on regular FECA saw only slightly greater FERS value once they had served 30 years or more..."

Resource: www.federaltimes.com

How Much of Your Retirement Will Social Security Pay For?

Article Excerpt: "...Social Security isn't meant to sustain seniors by itself. Those benefits will replace about 40% of an average earner's pre-retirement income. For higher earners, it'll replace an even smaller percentage...The average Social Security recipient today collects $17,532 a year in benefits..."

Resource: www.fool.com

retirement, Social Security,

Feds saved from retirement cuts in 2018 budget resolution with House vote

Article Excerpt: "...The House had included those instructions in its version of the budget resolution that cleared the chamber earlier this month. The original House proposals were vague, but potential changes would likely include higher employee contributions to the federal defined benefit pension plan, an elimination of supplemental payments to employees who retire before age 62 and a move to a defined contribution pension plan for new federal employees..."

Resource: federalnewsradio.com

Social Security Benefits Must Be Increased

End the retirement crisis. Increase Social Security benefits now.

Article Excerpt: "...There is a retirement crisis, and the only part of the solution that’s in government hands is Social Security benefits. If government really want to “promote the general welfare”..."

Resource: americablog.com

Making it solely on Social Security in retirement...

Living Off Social Security

Article Excerpt: "...Social Security won’t cover the majority of the 80% of the pre-retirement income that serves as a general guideline to maintain your current lifestyle in retirement. Still, there are ways..."

Resource: socialsecuritynewsgroup.blogspot.com

Social Security, Retirement,