Pushing back the date of retirement is certainly something over which older workers have some control.
The bill authorizes an additional shuttle launch, extending the retirement date of the shuttle program from February 2011 until June 2011.
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Its breakfast show host Bam Bam - whose real name is Peter Poulton - had a website which asked listeners to predict the date of Tarrant's retirement.
Russian efforts to keep Mir in orbit past an original retirement date of June have irritated the United States, which has pressed Moscow to focus its meager resources on the International Space Station.
Think of the old rule of thumb to subtract your age from 100 and invest that percentage in stocks or of the modern version in the form of target date retirement funds that start aggressive and become more conservative as you get closer to retirement.
But I also fancy the simplicity of target-date retirement funds which increasingly 401 (k) plans are offering, too.
Even modest amounts of additional income can allow individuals to delay the drawdown of their retirement assets or the date when they claim Social Security benefits, allowing those assets to grow and requiring them to cover fewer years.
The national debate regarding public pension woes to date has focused almost exclusively upon inadequate funding of these retirement plans and the supposedly unsustainable benefits promised to workers.
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Pension rights accrued under the existing sections will be protected, so pensions earned up to the change-over date of April 2015 will be payable at the current retirement ages.
One response to such inertia has been the spread of target-date funds, which rebalance automatically as the participant nears retirement age, and target-risk funds, which are managed and rebalanced according to a saver's risk tolerance, as opposed to his age.
Tip: Either keep the term of the loan the same, or coordinate the payoff date with your estimated retirement date.
The study found that only 58% of people 25-34 years of age save for retirement, sad because saving early gives that money many more years to grow. 76% of those 55 and older are saving for retirement, but that date is too close for that money to grow nearly as much.
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The shortcut to asset allocation is to buy so-called target-date funds, which gradually turn to a more-conservative mix of assets as shareholders approach retirement.
Rowe, which operates one of the largest no-load mutual fund complexes in the U.S. Some 75% of its assets under management is invested in equities and 25% in target-date retirement funds.
Retirement Series and Vanguard Target Retirement funds were the top two funds in Morningstar's latest ranking of target-date funds.
By 2016, 55% of 401(k) participants will have their whole retirement accounts invested in a single target date fund, up from 24% last year.
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