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OSAGE CITY, KS All Active Retirement Communities and Homes

This website contains information about state retirement systems in Florida, including the FRS - the fourth largest public system in the nation. You can view and print our glossary() which provides definitions to help you understand retirement terms used throughout this website.

You may also want to visit the MyFRS website, which is a cooperative website of the Department of Management Services and the Florida State Board of Administration. It is part of the MyFRS Financial Guidance Program and offers online planning models and choice tools to help employees eligible for membership in the FRS to choose between the FRS Pension Plan and the FRS Investment Plan. The website also provides access to resources available under both plans.

Click to access your 2015 Member Annual Statement

The 2015 Member Annual Statement is only available to active pension plan participants.

The FRS Pension Plan funding valuation takes place annually, available December 1st and was 86.6 percent funded, as of July 1, 2014. You can view a chart that compares the plan's actuarial liabilities to the plan's actuarial assets for the past five fiscal years. The annual benefit payments to FRS retirees and beneficiaries (shown in white on the chart) are a part of the overall plan liabilities. The market value of the total assets of the FRS Pension Plan is updated monthly and can be viewed on the MyFRS website.

You must have Internet Explorer version 7.0 or newer to access FRS Online.

Follow this link:
Retirement / Workforce Operations / Florida Department of ...

If you have been looking for the best places to retire in Florida this website has the answers you need. Choose from almost 70 of the best places to retire in Florida that are popular with active adults 55+.

Overall Florida is where many people instinctively look for a retirement community - it probably has more retirement oriented communities than anywhere in the world. Its climate is warm all year round and you are never too far from water. Living costs can vary a great deal within the state; inland and northern towns tend to have more inexpensive options, while high-end communities like Naples have real estate prices and a significantly higher cost of living. Recreational activities are exceptional in this state with a double coastline on the Gulf of Mexico and Atlantic Ocean. The 2012 household population was 19.3 million. Median age is 40.7, several years higher than national average. This page will acquaint you with some basic facts about the best retirement places in Florida.

Best retirement towns in Florida Florida is so big that is likely to have the perfect retirement lifestyle for just about anybody. Some obvious picks include places like Venice, Key West, and Winter Park. Other towns to investigate include: Stuart, Delray Beach, Sarasota, and Gainesville. Two other popular retirement towns that are very different but close geographically are Abacoa and Vero Beach. Many people are interested in a Central Florida retirement. See our free mini-guide to The Villages (near Ocala), which is the #1 most popular active adult community at Topretirements.com. For more ideas, see the list at right.

Climate The Florida climate is characterized as humid subtropical. Summers are hot and wet, winters are warm or mild. Marine air from the Gulf of Mexico and Atlantic controls the climate. Key West is the only frost-free location in the continental U.S.

Economy and Home Prices In 2007 the Florida per capita income was $26,125, near the middle for all states. Median home value in early 2012 was $120,000, well below the national average of $145,000 (Zillow data). By way of comparison, the National Association of Realtors reports the median sales price of a home in the U.S. to be $164,500. Prices have declined drastically in Florida since 2006, particularly south Florida, where home values have been cut in half. In Cape Coral/Ft. Myers the median selling price was $190,000 in late 2014 (National Association of Realtors).

Taxes

Tax Burden:Florida's total state/local tax burden is 27th highest (Source: The Tax Foundation).

Marginal Income Tax Rates.Florida is one of the few states with no income tax, which automatically makes it a tax bargain.

Sales Tax:Sales tax is 6%, one of the higher rates compared to other states.

Property Taxes:Florida`s successful Save Our Homes law has attracted tens of thousands of permanent residents from other states. The Florida law caps increases in a home`s assessed value at 3% a year for full time residents. Local communities in Florida can change mill rates at will, but at least the most volatile component of the property tax, wild swings in appraised values, are moderated.The state is ranked 16th highest in per-capita property tax collections.

Estate and/or Inheritance Taxes.Florida does not have inheritance or estate taxes.

Linkto the Florida Department of Revenue

In 2010 the state is considering radical budget cuts to cope with budget deficits. Note: See very interesting commentary about "Save Our Homes" from OldNassau in our Forum.

Certified Retirement Communities Florida does not have a certified retirement community program.

Get started with reviews of the best retirement communities.

Reviews of best retirement cities

Park near downtown Venice FL - a popular retirement community

Click on the Florida Retirement Community reviews on the right. Or to find information about what retirement is like in different states for example to retire in Kentucky, retire in Georgia, retire in North Carolina, and retire in Tennessee.

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Florida retirement guide - Find Your Best Place to Retire

This section is intended to provide you with an overview of the FRS Pension Plan - from how and why the plan is offered, to eligibility requirements, retirement income options, and related programs. Click on the subheadings below to access the specific topic of interest within this page.

How It Works

The FRS Pension Plan is a defined benefit plan, in which you are promised a benefit at retirement if you meet certain criteria. The amount of your future benefit is determined by a formula, based on your earnings, length of service, and membership class, and is adjusted by a 3% cost-of-living each July (adjustment only applicable for FRS service earned prior to July 1, 2011). Your benefit is pre-funded by contributions paid by your employer. The Florida Retirement System must ensure that sufficient funds are available when your benefits are due and bears the market risk and investment decisions.

Why the FRS Is Offering This Plan

The Pension Plan has been offered to employees for over 40 years. It is primarily designed to serve longer-service employees who will be with the FRS for most of their career. Older employees and those employees who do not want to control their retirement plan may also prefer the Pension Plan.

Who's Eligible for the FRS Pension Plan?

All FRS employees are eligible for the Pension Plan except:

How Your Benefit Accumulates

In the Pension Plan, your benefits are generally back-loaded, which means that you accumulate benefits slowly at first and then at a faster rate the longer you stay. This is different from the Investment Plan, where benefits are earned more or less evenly over your career (subject to fluctuations in the financial markets and your investment strategy). So, if you stay with FRS employers for most of your career or for the final years of your career, you're more likely to receive a greater benefit under the Pension Plan.

When You Own Your Benefit

You will be eligible for a Pension Plan benefit (i.e. be vested) when you complete six years of service (if you enrolled in the FRS prior to July 1, 2011) or eight years of service (if you enrolled in the FRS on or after July 1, 2011). If you use your 2nd Choice option to transfer from the FRS Investment Plan to the FRS Pension Plan, you will be able to count your Investment Plan service toward the vesting requirement.

(To transfer from the Investment Plan to the Pension Plan, you will need to "buy in" to the Pension Plan by paying an amount from your Investment Plan account balance, plus any necessary amount from your personal resources. If you have previous Pension Plan service prior to joining the Investment Plan, the buy in cost will be calculated as the present value of the "accrued" FRS Pension Plan benefit. If you do not have previous Pension Plan service, the buy in cost will be the actuarial accrued liability, or total cost, of the "accrued" Pension Plan benefit. The buy in cost could be a substantial amount and could make transferring to the Pension Plan unaffordable.)

If You Change Employers

Under the Pension Plan, if you leave FRS-covered employment and go to a non-FRS employer, your Pension Plan benefit is frozen until you return at a later date to continue your FRS-covered employment or begin receiving your early or normal retirement benefit.

Benefit Paid at Retirement

Under the Pension Plan, your retirement benefit is based on a formula comprised of your age, length of FRS service, and membership class. The amount of your benefit payments is affected by the retirement income option you choose.

Retirement Income Options

Under the Pension Plan, you may choose to receive your benefit in retirement under one of four lifetime benefit options including a 3% annual benefit increase each July (adjustment only applicable for FRS service earned prior to July 1, 2011). Option 1 provides a monthly benefit for your lifetime, but does not provide a continuing benefit to a beneficiary. Option 2 provides a reduced monthly benefit for your lifetime, with a guarantee that your beneficiary will be eligible for a continuing benefit for 10 years from the date you retire. After 10 years of retirement, no benefits are payable to your beneficiary, in the event of your death.

Options 3 and 4 provide a continuing benefit to your spouse or other dependent beneficiary who is your joint annuitant. Option 3 provides a reduced benefit to both you and your joint annuitant in the same amount for as long as you or they are living. Option 4 provides an adjusted monthly benefit for you and your joint annuitant and is reduced upon the death of either.

Pre-Retirement Benefits

In the Pension Plan, your vested benefit will be paid to your beneficiary or in accordance to Florida law if you die prior to retiring.

DROP

You may participate in the Deferred Retirement Option Program (DROP) once you have reached normal retirement age or date. See more DROP information here.

Health Insurance Subsidy (HIS)

The Health Insurance Subsidy (HIS) is a monthly supplemental payment that you may be eligible to receive if you have health insurance coverage (Cover Florida Health Care Access Program, Medicare and TRICARE coverage are accepted). This monthly payment, which you must apply for, is calculated by multiplying your total years of service at retirement (up to a maximum of 30 years) by $5. HIS is only available after you have six years of service (if enrolled in the FRS prior to July 1, 2011) or eight years (if enrolled in the FRS on or after July 1, 2011). You will receive the HIS as part of your early or normal retirement benefit after you have provided proper documentation certifying that you have health insurance coverage. The HIS subsidy, which is paid monthly, is $5 for each year of creditable service, with a minimum HIS of $30 per month and a maximum HIS of $150 per month.

Originally posted here:
FRS Programs Retirement System Pension Plan

The following chart summarizes the differences between the four retirement plans.

At age 62,

1) retired pay made equal to High-36

2) future multiplier made equal to High-36

3) future COLA continues at CPR - 1%

The below chart provides the basic criteria to determine which retirement plan applies to you.

Service members who remain on active duty or serve in the Reserves or Guard for a sufficient period of time (usually a minimum of 20 years) may retire and receive retired pay. Members who become disabled while on duty may be medically retired and receive a disability retirement. There are four basic retirement plans; Final Pay, High-36 Month Average, REDUX and Disability.

All four of the retirement plans determine initial monthly retired pay by taking the member's retired pay base and subjecting it to a percentage multiplier:

Retired Pay Base X Multiplier %

There are two methods for determining the retired pay base. They are the final pay method and the high-36 month average method. The final pay method, as the name implies, establishes the retired pay base equal to final basic pay. The high-36 method is the average of the highest 36 months of basic pay divided by 36. This is generally the last 3 years of service and is sometimes called high-3. The method used depends upon when the member first entered military service.

To decide which method applies to you, you must determine the date that you FIRST entered the military. This date is called the DIEMS (Date of Initial Entry to Military Service) or DIEUS (Date of Initial Entry to Uniformed Services). The date you first entered the military is the first time you enlisted or joined the active or reserves. This date is fixed---it does not change. Departing the military and rejoining does not affect your DIEMS.

Some individuals have unique circumstances that complicate determining their DIEMS. Here are a few examples:

Be aware that your pay date may be different than your DIEMS. Also, your DIEMS does not determine when you have enough time in the service to retire---it only determines which retired pay base method applies to you.

Not all Services have their DIEMS dates properly defined in their personnel records. If you have unusual circumstances and are unsure of when your DIEMS date is or believe your records show an incorrect DIEMS date, contact your personnel office to discuss your particular situation.

Now, based upon the date you initially entered the military, you can determine which retired pay base method applies to you.

For both the Final Pay and High-36 retired pay plans each year of service is worth 2.5% toward the retirement multiplier. For instance, 20 years of service would equate to a 50% multiplier. The years of service creditable are computed differently depending upon whether retirement is from full time active duty or from a reserve career. These differences are explained under the Active Duty Retirement and Reserve Retirement pages.

For the REDUX retirement plan, which applies only to an active duty retirement, the High-36 multiplier is reduced by one percentage point for each year that the member has less than 30 years of service at retirement. For instance, 20 years of service would equate to a 40% multiplier. This is discussed more fully under the Active Duty Retirement page.

For the Disability retirement plan, the multiplier may be the higher of 2.5% for each year of service or the disability percentage assigned by the Service at retirement. However, note that the disability retirement multiplier is capped at 75%.

In any case, the longer an individual serves, the higher the multiplier and the higher the retirement pay. For example:

All military retirements are protected from inflation by annual Cost of Living Adjustments (COLAs), based on changes in the Consumer Price Index (CPI) as measured by the Department of Labor. Under the Final Pay and High-36 retirement plans, the annual COLA is equal to percentage increase in the CPI year over year. This is a different index than the one used for active duty annual pay raises. The index used for active duty pay raises are based upon average civilian wage increases. Thus, retirement pay COLAs and annual active duty pay raises will differ. Also note; the annual COLA for the REDUX retirement method is reduced by one percentage point below the increase in the CPI.

Military retired pay is subject to a dollar for dollar offset when the retired member is also in receipt of VA disability compensation. However, there are two programs that restore partial or full retired pay when a member is eligible for concurrent DoD and VA payments. See the Concurrent DoD and VA Payment page for details.

Additionally, all retirees may choose to participate in the Survivor Benefit Plan (SBP) or the Reserve Component Survivor Benefit Plan (RCSBP), which enable the member to provide a continuing annuity to their family after death, based on the retired pay. The SBP and RCSBP programs are discussed in the benefits section.

Finally, remember that after age 62, Social Security will likely provide additional retirement benefits.

Select one of the following topic areas:

Original post:
Retirement

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NEW FREEDOM, PA All Active Retirement Communities and Homes

Albany Bnai Brith Parkview Apartments 400 Hudson Avenue Albany, NY 12203 518-465-2293 Armonk The Bristal Assisted Living in Armonk (Visit our site) 90 Business Park Drive Armonk, NY 10504 E-mail us 914-219-5875 Bronx The Judith Lynn Assisted Living Facility 1800 Waring Avenue Bronx, NY 10469 718-379-4400 The Thomas Jefferson Assisted Living Facility 650 E 104th Street Brooklyn, NY 11236 718-649-0700 Clinton Cherrywood (Visit our site) by JENSEN Communities 1 Cherrywood Circle Clinton, NY 13323 (Located near Utica) 315-732-6840 Croton-on-Hudson Springvale Apartments (Visit our site) 2-T Skytop Drive Croton-on-Hudson, NY 10520 E-mail us 914-737-6954 East Meadow The Bristal Assisted Living at East Meadow (Visit our site) 40 Merrick Avenue East Meadow, NY 11554 E-mail us 516-542-0800 East Northport The Bristal Assisted Living at East Northport (Visit our site) 760 Larkfield Road East Northport, NY 11731 E-mail us 631-858-0100 Getzville Weinberg Campus (Visit our site) 2700 North Forest Road Getzville, NY 14068 E-mail us 716-639-3311 Ithaca Kendal at Ithaca (Visit our site) 2230 N. Triphammer Road Ithaca, NY 14850 E-mail us 607-266-5300 Longview, an Ithacare Community (Visit our site) 1 Bella Vista Drive Ithaca, NY 14850 E-mail us 607-375-6300 Jamestown Heritage Village Retirement Campus (Visit our site) 3017 North Main Street Jamestown, NY 14701 716-487-6874 Kenoza Lake Lakeville Manor 56 N. Swiss Hill Road Kenoza Lake, NY 12750 845-482-4893 Lake Grove The Bristal at Lake Grove (Visit our site) 2995 Middle Country Road Lake Grove, NY 11755 E-mail us 631-676-7580 Lynbrook The Bristal Assisted Living at Lynbrook (Visit our site) 8 Freer Street Lynbrook, NY 11563 E-mail us 516-593-2424 Massapequa The Bristal Assisted Living at Massapequa (Visit our site) 400 County Line Road Massapequa, NY 11758 E-mail us 516-691-0706 Mount Vernon The Wartburg Adult Care Community (Visit our site) 1 Wartburg Place Mount Vernon, NY 10522 E-mail us 914-699-0800 New York The Hallmark, Battery Park City 455 North End Avenue New York, NY 10282-5304 212-791-2500 North Hills The Bristal Assisted Living at North Hills (Visit our site) 99 South Service Road North Hills, NY 11040 E-mail us 516-869-1300 North Woodmere The Bristal Assisted Living at North Woodmere (Visit our site) 477 Hungry Harbor Road North Woodmere, NY 11581 E-mail us 516-336-2600 Peekskill Drum Hill Senior Living Community (Visit our site) 90 Ringgold Street Peekskill, NY 10566 E-mail us 914-788-8860 Pittsford The Highlands at Pittsford (Visit our site) 100 Hahnemann Trail Pittsford, NY 14534 E-mail us 585-586-7600 Rochester Cloverwood (Visit our site) 95 Allens Creek Road Rochester, NY 14618 585-218-8800 The Gables at Brighton 2001 S. Clinton Avenue Rochester, NY 14618 716-461-1880 Rivers Run (Visit our site) 50 Fairwood Drive Rochester, NY 14623 E-mail us 585-292-5440 The Summit at Brighton (Visit our site) 2000 Summit Circle Drive Rochester, NY 14618 585-442-4500 ext. 2306 Sayville The Bristal Assisted Living at Sayville (Visit our site) 129 Lakeland Avenue Sayville, NY 11782 E-mail us 631-563-1160 South Setauket Jeffersons Ferry Lifecare Retirement Community (Visit our site) One Jefferson Ferry Drive South Setauket, NY 11720 E-mail us 888-233-1330 Valhalla Westchester Meadows (Visit our site) 55 Grasslands Road Valhalla, NY 10595 914-989-7800 Westbury The Bristal Assisted Living at Westbury (Visit our site) 117 Post Avenue Westebury, NY 11590 E-mail us 516-333-9828 The Regency Assisted Living Center 3400 Brush Hollow Road Westbury, NY 11590 516-334-3838 White Plains The Bristal Assisted Living at White Plains (Visit our site) 305 North Street White Plains, NY 10605 E-mail us 914-681-1800 top

Originally posted here:
New York - Retirement Living

This Google translation feature is provided for informational purposes only.

The New York State Office of the State Comptrollers website is provided in English. However, the Google Translate option may help you to read it in other languages.

Google Translate cannot translate all types of documents, and it may not give you an exact translation all the time. If you rely on information obtained from Google Translate, you do so at your own risk.

The Office of the State Comptroller does not warrant, promise, assure or guarantee the accuracy of the translations provided. The State of New York, its officers, employees, and/or agents are not liable to you, or to third parties, for damages or losses of any kind arising out of, or in connection with, the use or performance of such information. These include, but are not limited to:

Because Google Translate is intellectual property owned by Google Inc., you must use Google Translate in accord with the Google license agreement, which includes potential liability for misuse: Google Terms of Service.

See the rest here:
New York State & Local Retirement System (NYSLRS)

Allentown Luther Crest (Visit our site) 800 Hausman Road Allentown, PA 18104 E-mail us 610-391-8229 Wesminster Village 803 N. Wahneta Street Allentown, PA 18103 610-434-6248 Ambler Gwynedd Estates (Visit our site) 301 Norristown Road Ambler, PA 190002-2796 215-628-4156 or 888-302-2287 Bethlehem Kirkland Village 1 Kirkland Village Circle Bethlehem, PA 18017 610-691-4500 Blue Bell Normandy Farms Estates (Visit our site) 9000 Twin Silo Drive Blue Bell, PA 19422-4202 214-661-1614 or 800-756-2287 Bryn Mawr Beaumont at Bryn Mawr (Visit our site) 601 North Ithan Avenue Bryn Mawr, PA 19010 E-mail us 610-526-7000 Carlisle Cumberland Crossings (Visit our site) 1 Longsdorf Way Carlisle, PA 17015 E-mail us 717-240-6013 Chamberburg Menno Haven Retirement Communities (Visit our site) 2227 Scotland Avenue Chamberburg, PA 17201 E-mail us 800-222-6695 Cornwall Cornwall Manor (Click for details) P.O. Box 125 Cornwall, PA 17016 800-222-2476 Doylestown Pine Run Community (Visit our site) 777 Ferry Road Doylestown, PA 18901-2199 E-mail us 800-992-8992 Elizabethtown Masonic Village at Elizabethtown (Visit our site) One Masonic Drive Elizabethtown, PA 17022 E-mail us 717-361-5080 Fort Washington Fort Washington Estates (Visit our site) 735 Susquehanna Road Fort Washington, PA 19034-1798 215-628-4156 or 888-302-2287 Frederick Frederick Living (Visit our site) 2849 Big Road (Route 73) Frederick, PA 19435-0498 E-mail us 610-754-7878 Gladwyne Waverly Heights (Visit our site) 1400 Waverly Road Gladwyne, PA 19035 E-mail us 610-645-8764 Glen Mills Maris Grove (Visit our site) (Welcome Center) 117 Brinton Lake Road Glen Mills, PA 19342 610-459-1090 or 800-833-4152 Gwynedd Foulkeways at Gwynedd (Visit our site) 1120 Meetinghouse Road Gwynedd, PA 19436 E-mail us 215-643-2200 Hanover Homewood at Plum Creek (Visit our site) 425 Westminster Avenue Hanover, PA 17331 E-mail us 717-637-4166 Harleyville Peter Becker Community 800 Maple Ave. Harleysville, PA 19438 215-256-9501 Haverford The Quadrangle 3300 Darby Road Haverford, PA 19041 610-642-3000 Holland Twining Village (Visit our site) 280 Middle Holland Road Holland, PA 18966 E-mail us 215-396-7236 Kennett Square Kendal-Crosslands Communities (Visit our site) P.O. Box 100 Kennett Square, PA 19348 E-mail us 610-388-7001 Lafayette Hill The Hill at Whitemarsh (Visit our site) 4000 Fox Hound Drive Lafayette Hill, PA 19444 E-mail us 215-402-8500 Lancaster Masonic Village at Elizabethtown (Visit our site) One Masonic Drive Lancaster, PA 17022 E-mail us 717-361-5080 Mennonite Home Communities (Visit our site) 1520 Harrisburg Pike Lancaster, PA 17601 E-mail us 717-390-4126 Willow ValleyRetirement Communities (Visit our site) 600 Willow Valley Square Lancaster, PA 17602-4866 E-mail us 800-770-5445 Lansdale Brittany Pointe Estates (Visit our site) 1001 Valley forge Road Lansdale, PA 19446-6502 215-855-3826 or 800-504-2287 Lewisburg Buffalo Valley Lutheran Village (Visit our site) 189 E. Tressler Boulevard Lewisburg, PA 17837 E-mail us 570-523-4285 Lewistown Ohesson (Visit our site) 276 Green Avenue Lewistown, PA 17044 E-mail us 717-242-5753 Lower Gwynedd Spring House Estates (Visit our site) 728 Norristown Road Lower Gwynedd, PA 19002-2110 888-365-2287 Manheim Pleasant View Retirement Community (Visit our site) 544 North Penryn Road Manheim, PA 17003 E-mail us 717-665-2445 Martinsburg Homewood at Martinsburg (Visit our site) 437 Givler Drive Martinsburg, PA 16662 E-mail us 814-793-1314 Mechanicsburg Bethany Village (Visit our site) 325 Wesley Drive Mechanicsburg, PA 17055 E-mail us 717-766-0279 Media Granite Farms Estates (Visit our site) 1343 West Baltimore Pike Media, PA 19063 E-mail us 610-361-8221 Lima Estates (Visit our site) 411 N. Middletown Road Media, PA 19063-4435 610-627-2590 or 888-398-2287 Riddle Village (Visit our site) 1048 West Baltimore Pike Media, PA 19063 E-mail us 610-891-3700 Middletown Frey Village (Visit our site) 1020 North Union Street Middletown, PA 17057 E-mail us 717-930-1302 New Holland Garden Spot Village (Visit our site) 433 S. Kinzer Ave. New Holland, PA 17557 E-mail us 717-355-6000 Newtown Pennswood Village (Visit our site) 1382 Newtown-Langhorne Road Newtown, PA 18940-2401 E-mail us 215-504-1122 Newtown Square Dunwoody Village (Visit our site) 3500 Westchester Pike Newtown Square, PA 19073 E-mail us 610-359-4438 Newville Green Ridge Village (Visit our site) 210 Big Spring Road Newville, PA 17241 E-mail us 717-776-8200 Oxford The Woods at Oxford Manor 7 Locust Street Oxford, PA 19363 610-932-2900 Palmyra Lebanon Valley Brethern Home 1200 Grubb Street Palmyra, PA 17078 717-838-5406 Philadelphia Logan Square East 2 Franklin Town Blvd. Philadelphia, PA 19103 215-563-1800 Pittsburgh Asbury Heights 700 Bower Hill Road Pittsburgh, PA 15243 412-571-5165 Pittston The Wesley Village 211 Roberts Road Pittston, PA 18640 717-655-2891 Reading The Heritage of Green Hills (Visit our site) 200 Tranquility Lane Reading, PA 19607 E-mail us 484-269-5100 Rydal Rydal Park (Visit our site) 1515 The Fairway Rydal, PA 19046 E-mail us 215-885-6800 Sewickley Masonic Village of Sewickle y (Visit our site) 1000 Masonic Drive Sewickley, PA 15143 412-749-6862 Southampton Southampton Estates (Visit our site) 238 Street Road Southampton, PA 18966 888-311-2287 State College Foxdale Village 500 East Marylyn Ave. State College, PA 16801 814-238-3322 The Village at Penn State (Visit our site) 361 Presidents Drive State College, PA 16803 E-mail us 814-238-1949 or 800-238-3173 Telford Lutheran Community at Telford (Visit our site) 235 North Washington Street Telford, PA 18969 215-723-9819 Topton The Lutheran Home at Topton (Visit our site) One South Home Avenue Topton, PA 19562 E-mail us 610-682-1413 Upper St. Clair Friendship Village of South Hills (Visit our site) 1290 Boyce Road Upper St. Clair, PA 15241 E-mail us 724-941-3100 Warminster Anns Choice Retirement Community (Visit our site) 235 East Street Road Warminster, PA 18974 800-576-1453 Christs Home Retirement Community (Visit our site) 1220 W. Street Road Warminster, PA 18974 215-956-2270 West Brandywine Freedom Village at Brandywine (Visit our site) 15 Freedom Boulevard West Brandywine, PA 19320 484-288-2600 West Chester Wellington at Hersheys Mill (Visit our site)A Benchmark Signature Living Community 1361 E. Boot Road West Chester, PA 19380 E-mail us 484-653-1200 Willow Street Willow Valley Communities (Visit our site) 450 Willow Valley Lakes Drive Willow Street, PA 17584 E-mail us 717-464-6055 Worcester Meadowood (Visit our site) 3205 Skippack Pike Worcester, PA 19490-0670 610-584-1000 top

Continue reading here:
Pennsylvania - the Retirement Living Information Center

A recent study found that retirees experience an immediate boost in happiness, and the positive effects remain four years after their final day on the job.

The news seems to be filled with doom and gloom predictions about what baby boomers will face in retirement. Study after study says those who are heading into their final working years have skimpy savings which will, undoubtedly, lead to unsatisfying golden years.

However, a study from researchers at George Mason University and Utah State University offers hope for boomers who are worried they are facing a dismal retirement. Using data from the University of Michigan Health and Retirement Study, researchers discovered retiring is associated with not only a marked increase in happiness but also improved health.

"In some ways, it is surprising," says Sita Slavov, a public policy professor at George Mason University and co-author of the 2014 report. "You hear anecdotes of people who end up hating retirement. But it's also important to keep in mind that we are looking at the effect of retirement for the average person."

Happiness Is Immediate, Health Takes a While

One of the chief takeaways of Slavov's research is that people report an immediate uptick in happiness after retirement. While other research has recorded the same phenomenon, those studies typically indicate that happiness regressed and flattened over time. However, the George Mason and Utah State University research found the positive impact of retirement still remained four years after a person left the workforce.

Good health, on the other hand, took four years to arrive for retirees. "We suspect it's because health changes slowly," Slovav says. "It takes time for lifestyle changes to show up in the form of improved health."

Slovav adds that her team looked into whether health and happiness outcomes differed based on a person's type of work. However, there were no significant differences between those who reported having physically demanding jobs and other workers.

"One other interesting thing." Slovav says, "[is] we didn't find any evidence of long-term changes in health care utilization i.e. doctor visits and prescription drug use after retirement. So the improvements in health do not appear to be associated with increased health care costs."

A Happy Retirement Without Much Cash

While Slavov's findings seem to make a strong case for early retirement, doing so may feel like an unattainable dream for workers with limited savings. Fortunately, finance experts say you don't need a huge nest egg to have a happy retirement.

"Happiness is a positive cash flow," says Ken Moraif, founder and senior advisor of Dallas-based financial firm Money Matters. He argues that people with modest means who keep their expenses low can be happier than those who have more money coming in each month but spend it all. "You can have fancy cars and fancy houses, but you're going to be miserable all the time," he says of the latter group.

Feeling in control of the future may also be a factor that helps fuel retiree happiness, regardless of the size of a bank account. Andrew Meadows, vice president of brand + culture at Ubiquity Retirement + Savings and producer of the documentary "Broken Eggs," says he sees seniors getting creative with figuring out how to stay happy while also make ends meet after quitting their jobs.

"When I worked on 'Broken Eggs,' I found so many people living in their RVs in semi-permanent spots," he says. While living out of an RV saved money, Meadows says it wasn't a desperate move for the retirees he met. "It never seemed like [they] were forced out of their homes. It seems like people planned on that life in retirement."

Take Steps Now to Ensure Happiness Later

Although the research is promising, you shouldn't expect retirement to magically improve your life. Taking some small steps while working may help boost happiness and health once you exit the workforce.

Joe Heider, president of Cirrus Wealth Management in Cleveland, advocates for having a plan for retirement, and he doesn't mean a financial plan. "Many people think of retirement as a permanent vacation, but it can lead to boredom," he says.

To prevent long days spent doing nothing, Heider suggests pre-retirees create a plan for what they expect to do on a daily basis. A light daily schedule may be a welcome change at first, but as retirement progresses, staying engaged in a variety of activities can be key to happiness and healthiness.

Staying active is almost important. "You can have a positive cash flow, but if your health is poor, you're going to be unhappy," Moraif says. To that end, Moraif says his firm counsels clients to plan to live to 100 and take care of their bodies and bank accounts accordingly.

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Retirement: Your Ticket to a Happier, Healthier Life - US News