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Can you receive a Federal employee disability annuity and a VA disability annuity payment together?
Wiki User
∙ 9y ago
Yes you can collect Federal Disability Civil service and Va disability payment together, but the checks are separate.
Wiki User
∙ 9y ago
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What exactly is a "fers retirement calculator"?
FERS may stand for Federal Employee Retirement System. The FERS retirement calculator is a tool to estimate the annuity that the government will provide at retirement for a federal employee.
What is the purpose of a tax sheltered annuity?
Tax sheltered annuity refers to an employee making contributions into his/her retirement plan from his/her wages. If this is a direct contribution to the plan, this means the employee has the benefit of tax-free funds.
i am retiring from federal employment with tsp of 200,00. what would my monthly annutie be ?
You can use the federal government's TSP annuity calculator located here http://www.tsp.gov/calc/annuity/annuity.cfm to calculate the value of your monthly annuity based on your individual status.
What are great examples of fixed annuity rates?
Great examples of fixed annuity rates are found in pension schemes. For a pension scheme, an employer might pay for its employee for example 100 dollars in the company until the employee is retired.
Can federal tax on an annuity be deducted on your federal tax return?
There is a section on the tax form for deductions. If you keep track of how much money you have paid on an annuity, tax professionals and various tax programs will assist in making the proper federal tax deductions.
Is a annuity check considered income?
An annuity check would be a part of your unearned income amount on your federal 1040 income tax return.
Is a annuity check considered earned income?
An annuity check would be a part of your unearned income amount on your federal 1040 income tax return.
What Is the difference between an annuity and pension?
First of all, let's understand what the pension and annuity are. The pension is a consistent monthly income provided by Federal Govt. only to their employees after they retire. Usually, this income is half of the last salary received and is provided to an employee throughout their life. While an annuity is an investment where anyone can invest an amount of savings and receive a consistent monthly income throughout their retirement life. The major advantage of annuity over a pension is that pension isn't provided to each and every citizen while annuity is available for everyone. Moreover, the amount to be received isn't fixed by the Govt, but by the plan a customer chooses. if you are willing to know more about annuity insurance plans, you can visit our site: optinsure.com for the same.
What is the difference between a pension and an annuity?
First of all, let's understand what the pension and annuity are. The pension is a consistent monthly income provided by Federal Govt. only to their employees after they retire. Usually, this income is half of the last salary received and is provided to an employee throughout their life. While an annuity is an investment where anyone can invest an amount of savings and receive a consistent monthly income throughout their retirement life. The major advantage of annuity over a pension is that pension isn't provided to each and every citizen while annuity is available for everyone. Moreover, the amount to be received isn't fixed by the Govt, but by the plan a customer chooses. if you are willing to know more about annuity insurance plans, you can visit our site: optinsure.com for the same.
Why do you have to pay Federal Income Tax on an annuity you received after your father's death?
The money you receive from the annuity is income. All income is supposed to be reported and taxes paid on it.It depends upon where that money came from in your fathers estate. If this annuity came from your fathers annuity which was established from IRA or a 401K which had never paid taxes on -then the annuity now needs to pay the taxes.If the annuity came from life insurance then their is no taxes to pay. If the annuity came from prepaid tax money there would be no taxes to pay. etc.
Do annuity rates remain steady or are they variable?
This actually depends on the annuity. A "fixed" annuity always gets you the same rate, while the rate of a "variable" annuity is indexed to some other rate, usually the federal prime rate. Rates are variable over the long term. It is possible to lock a steady rate in but it costs more to do so.
Do federal employees on retirement disability pay income tax?
Yes, However, you are tax free only on a portion of it. The amount you (personally not jointly with the government) put in, is deducted on a percentage basis. You need to contact IRS (or go to there web site) they have a computation for this. Keep good tax records you can do the deduction (of the base pay) for a few years until you have "used" up you portion then you pay tax on full amount of disability annuity.
