What would you like to do?
Who advises people about individual retirement plans?
http://usgovinfo.about.com/library/weekly/aa031200a.htm Congress: Rank-and-File Members' Salary The current salary (2009) for rank-and-file members of the House …and Senate is $174,000 per year. * Members are free to turn down pay increase and some choose to do so. * In a complex system of calculations, administered by the Office of Personnel Management, congressional pay rates also affect the salaries for federal judges and other senior government executives. * During the Constitutional Convention, Benjamin Franklin considered proposing that elected government officials not be paid for their service. Other Founding Fathers, however, decided otherwise. * Sponsored Links Federal RetirementFederal Retirement and Mid-Career Planning Seminars Near Youmanagementconcepts.com/retirement Military Retirement BenefitsFind Military Retirement Benefits At Your Local Retirement Website!Myfrs.com/Retirement-Listings Physical Therapy SalariesAccredited Health Services Programs At The University Of Phoenix!www.Phoenix-Univ.com * From 1789 to 1855, members of Congress received only a per diem (daily payment) of $6.00 while in session, except for a period from December 1815 to March 1817, when they received $1,500 a year. Members began receiving an annual salary in 1855, when they were paid $3,000 per year. Congress: Leadership Members' Salary (2009) Leaders of the House and Senate are paid a higher salary than rank-and-file members. Senate Leadership Majority Leader - $193,400 Minority Leader - $193,400 House Leadership Speaker of the House - $223,500 Majority Leader - $193,400 Minority Leader - $193,400 A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes to not accept it. Congress: Benefits You may have read that Members of Congress do not pay into Social Security. Well, that's a myth. Prior to 1984, neither Members of Congress nor any other federal civil service employee paid Social Security taxes. Of course, the were also not eligible to receive Social Security benefits. Members of Congress and other federal employees were instead covered by a separate pension plan called the Civil Service Retirement System (CSRS). The 1983 amendments to the Social Security Act required federal employees first hired after 1983 to participate in Social Security. These amendments also required all Members of Congress to participate in Social Security as of January 1, 1984, regardless of when they first entered Congress. Because the CSRS was not designed to coordinate with Social Security, Congress directed the development of a new retirement plan for federal workers. The result was the Federal Employees' Retirement System Act of 1986. Members of Congress receive retirement and health benefits under the same plans available to other federal employees. They become vested after five years of full participation. Members elected since 1984 are covered by the Federal Employees' Retirement System (FERS). Those elected prior to 1984 were covered by the Civil Service Retirement System (CSRS). In 1984 all members were given the option of remaining with CSRS or switching to FERS. As it is for all other federal employees, congressional retirement is funded through taxes and the participants' contributions. Members of Congress under FERS contribute 1.3 percent of their salary into the FERS retirement plan and pay 6.2 percent of their salary in Social Security taxes. Members of Congress are not eligible for a pension until they reach the age of 50, but only if they've completed 20 years of service. Members are eligible at any age after completing 25 years of service or after they reach the age of 62. Please also note that Member's of Congress have to serve at least 5 years to even receive a pension. The amount of a Congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary. According to the Congressional Research Service, 413 retired Members of Congress were receiving federal pensions based fully or in part on their congressional service as of Oct. 1, 2006. Of this number, 290 had retired under CSRS and were receiving an average annual pension of $60,972. A total of 123 Members had retired with service under both CSRS and FERS or with service under FERS only. Their average annual pension was $35,952 in 2006.
People use retirement planning calculators at a pensionable age to determine if their pension will be enough to take care of them after retirement. It helps determine how much… money they need to survive in addition to their pension.
setting realistic goals
it is a retirement plan wherein employees have a right to agree to a reduction in salary in exchange for a comparable employer contribution to a qualified trust. The amount de…ferred and accumulated investment earnings are excluded from current income and are taxed only when distributed.
A 403b retirement plan is offered to employees of certain non-profit organizations as well as educational instituitions. It is a tax deferred program in whcih you let the tax …grow deferren until withdrawal.
Call 1-800-BENE and choose the correct option for retirement service center.
What is the retirement plan of lpns?
minimal assistance from gov
Senators are covered by the Federal Employees Retirement System (FERS) or Civil Service Retirement System (CSRS). As it is for federal employees, congressional retiremen…t is funded through taxes and the participants' contributions. Under FERS, senators contribute 1.3% of their salary into the FERS retirement plan and pay 6.2% of their salary in Social Security taxes. The amount of a senator's pension depends on the years of service and the average of the highest 3 years of his or her salary. The starting amount of a senator's retirement annuity may not exceed 80% of his or her final salary. In 2006, the average annual pension for retired senators and representatives under CSRS was $60,972, while those who retired under FERS, or in combination with CSRS, was $35,952.[
Yes! Yes It Does(:
Answer No probably not, because being a wedding planner is chiefly a self employed job you would need to set up your own retirement plan with a bank, or with a r…etirement company and put regular money into it over your working life. If you work for a wedding planning company they might have their own retirement plan which you can contribute to.
He has kept his house in Chicago. Presumably he plans to return there at least for awhile after he leaves the White House.
Many businesses are out there with the purpose of helping people prepare for retirement. Talking to one of these retirement companies will give you a good basis of knowing how… to plan for retirement. Companies that help people plan for retirement are Merrill Edge Investing, ING, and also 401(k) programs offered by employers.
They are everywhere, but usually you can find them in the yellow pages. If you feel that you are not bright enough to manage your own retirement, you should invest a good amou…nt of effort to check the credentials of the person you select. I can share my own retirement plan with you, maybe it will help. The company I work for now, has a very good retirement package, which includes a pension. We have to give a certain percentage into the system, and the company puts a certain amount into the system. When we retire, they start send a check every month until something happens to stop it. I do not rely on that, I also take advantage of some tax deferred investments offered through my company. Then I don't rely on that either, so I have a ROTH IRA that I use to invest in the stock market. The ROTH is different from all other retirement accounts. The ROTH is funded by you, but you must deposit taxed income into the ROTH. Once you have money in the ROTH, you may invest it in almost any way you want. You can buy mutual funds, or buy stock in any company listed on the stock markets of the world. Or, you can do as I do and invest in dividend bearing accounts. The nice thing about a ROTH is that there are many ways to get money from it before you retire, and it will be tax free for the life of it. You may also leave it to your children in your Will, and they will get it tax free. There are a few rules that govern a ROTH, and they are all simple to understand and abide by. The last thing anyone should depend on is Social Security. The crooks in Washington have be bleeding our social security system a little at a time, and by the time many people get old enough to collect it, it won't be there. That is a whole other discussion, but the simple rule is to not count on social security, and fend for yourself as best you can.
To invest in your wells Fargo Retirement plan, you have to set up a plan with the company then make monthly payments. At the end, you will have invested well with your plan.
Having enough money or a realy good insurance