2015 PENSION PAYCHECK SCHEDULE

August pension checks will be mailed on Thursday, August 27th and direct deposits will be made on Monday, August 31st as scheduled. To download the complete 2015 Pension Paycheck Schedule Click here!

Click here for Retirement Percentage Chart

Members can calculate their own retirement benefit estimate using the above Retirement Percentage Chart. Information on how benefits are calculated can be found in our Retirement Benefit Guide beginning on page 14.

Last year, the Department of Higher Education received a favorable ruling from the Internal Revenue Service regarding implementation of Section 60 of the state's Pension Reform Act of 2011, thus providing the opportunity to re-evaluate choice of retirement plans: the ORP or the Massachusetts State Employee's Retirement System (MSERS). Please click on link for more information ORP Information

Please direct your ORP queries to the ORP email box: ORP@bhe.mass.edu

**NEW** ORP ADVISORY - MAY 2014

Click here to view the MSERS ORP Seminar Presentation file size 1MB

PLEASE NOTE: Employees of the Massachusetts State Retirement Board cannot, and are not authorized to, advise you in any manner as to which plan is better suited for you. Please carefully review all materials that were mailed to you by the DHE. Certain plan provisions under the MSERS may not be applicable to transferring ORP participants.

More:
State Retirement Board - Mass.Gov

Retirement is the point where a person stops employment completely.[1][2] A person may also semi-retire by reducing work hours.

An increasing number of individuals are choosing to put off this point of total retirement, by selecting to exist in the emerging state of Pre-tirement.[3]

Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions no longer allow the person to work any longer (by illness or accident) or as a result of legislation concerning their position.[4] In most countries, the idea of retirement is of recent origin, being introduced during the late 19th and early 20th centuries. Previously, low life expectancy and the absence of pension arrangements meant that most workers continued to work until death. Germany was the first country to introduce retirement, in 1889.[5]

Nowadays most developed countries have systems to provide pensions on retirement in old age, which may be sponsored by employers and/or the state. In many poorer countries, support for the old is still mainly provided through the family. Today, retirement with a pension is considered a right of the worker in many societies, and hard ideological, social, cultural and political battles have been fought over whether this is a right. In many western countries this right is mentioned in national constitutions.

A person may retire at whatever age they please. However, a country's tax laws and/or state old-age pension rules usually mean that in a given country a certain age is thought of as the "standard" retirement age.

The "standard" retirement age varies from country to country but it is generally between 50 and 70 (according to latest statistics, 2011). In some countries this age is different for males and females, although this has recently been challenged in some countries (e.g., Austria), and in some countries the ages are being brought into line.[6] The table below shows the variation in eligibility ages for public old-age benefits in the United States and many European countries, according to the OECD.

Notes: Parentheses indicate eligibility age for women when different. Sources: Cols. 12: OECD Pensions at a Glance (2005), Cols. 36: Tabulations from HRS, ELSA and SHARE. Square brackets indicate early retirement for some public employees.

* In France, the retirement age has been extended to 62 and 67 respectively, over the next eight years.[8]

** In Spain, the retirement age will be extended to 63 and 67 respectively, this increase will be progressively done from 2013 to 2027 at a rate of 1 month during the first 6 years and 2 months during the other 9.[9]

In the United States, while the normal retirement age for Social Security, or Old Age Survivors Insurance (OASI), historically has been age 65 to receive unreduced benefits, it is gradually increasing to age 67. For those turning 65 in 2008, full benefits will be payable beginning at age 66.[10] Public servants are often not covered by Social Security but have their own pension programs. Police officers in the United States are typically allowed to retire at half pay after only 20 years of service or three-quarter pay after 30 years, allowing people to retire in their early forties or fifties.[11] Military members of the US Armed Forces may elect to retire after 20 years of active duty. Their retirement pay (not a pension since they can be involuntarily called back to active duty at any time) is calculated on total number of years on active duty, their final pay grade and the retirement system in place when they entered service. Allowances such as housing and subsistence are not used to calculate a member's retired pay. Members awarded the Medal of Honor qualify for a separate stipend, regardless of the years of service. Military members in the reserve and US National Guard have their retirement based on a point system.[citation needed]

Read more from the original source:
Retirement - Wikipedia, the free encyclopedia

Overall If you are thinking about the best places toretire in Virginia this website is your best source of information and data on Virginia retirement communities. Active adult communities for adults over 50 in Old Dominion are being built at a very fast rate. Virginia's lower cost of living, adjacency to major eastern cities, and great variety of places to live make it very attractive. There are 6 regions in the state going from the Tidewater to the Blue Ridge Mountains. It also has plenty of history going back to America's earliest days. The population was just over 8 million in 2012. The Wikipedia entry for Virginia has more facts.

Virginia Climate The Virginia climate is called humid-sub-tropical. Summers are hot and humid and winters are not as cold as in the northeast.The climate is a bit milder in the western and more mountainous part of the state.

Economy & Housing Prices At almost $61,000, Virginia's household income is $9000 above the national average (although that figure is probably distorted by people who live near Washington D.C). Richmond's median home price was about $129,500 in early 2012 (Zillow). In smaller towns and many active adult communities real estate prices can be relative bargains. Prices of homes in more rural areas can be quite a bit less. The statewide median was $208,200 in early 2012 according to Zillow. Cost of living in Richmond was indexed at 99, similar to the national average of 100, whereas Washington was 140.

Virginia Taxes

Tax Burden:At 9.8% the total tax burden inVirginiafor 2009 is above average for the nation (ranks 18th).

Continue reading here:
Virginia retirement guide - Topretirements.com

retirement

Whether just starting to plan for retirement or nearing the age of required minimum distributions, these free retirement calculators are here to help. Choose the appropriate calculator below to compare saving in a 401(k) account vs. a Roth IRA, determine the impact of changing your payroll deductions, estimate your Social Security benefits, and more, as you figure what it takes to save toward a secure retirement.

Nothing will bring clarity to your retirement planning like a retirement calculator. These calculators will help you estimate the level of monthly savings necessary to make it to retirement and can also help you predict how your investments can boost retirement returns.

When it comes to retirement planning, it's hard to meet goals you haven't set. Arriving at a ballpark figure for total retirement savings is easy with a retirement calculator. Some of them can even help you estimate your retirement income needs on a monthly basis.

In order to calculate how much income you'll need in retirement, get a handle on your current spending. While some retirees find their budget shrinks during retirement, others say that they spend more on leisure activities and travel, at least in the early years.

Social Security typically provides part of a retiree's monthly income. Estimating how much income you may have from Social Security can assist in approximating the amount of money you'll need to save in dedicated retirement accounts such as 401(k)s and IRAs.

A 401(k) is a retirement plan offered by a private-sector employer. The equivalent for teachers and some non-profit employees is the 403(b). A 457 plan is offered to government workers.

An IRA, or individual retirement account, is a tax-advantaged account that savers open on their own through a bank, credit union or brokerage.

The IRS adjusts the limit savers can contribute to retirement each year, but in general, the contribution limit for an IRA is about a third of what can be contributed to a workplace plan.

In general, contributions to retirement accounts can be made pre-tax, as in a 401(k) or a traditional IRA. Contributions to a traditional IRA qualify for a tax deduction for the year the contribution was made. Contributions to workplace plans typically go in on a pre-tax basis, which means the employer puts it into the account before including it with taxable income. After age 59 , contributions and earnings can be withdrawn without penalty but will be taxed as regular income.

Continue reading here:
Retirement Calculator -- Free Calculators for 401K, Roth IRA ...

Learn some of the basics about retirement and pension benefits.

Planning ahead can help ensure that you have a secure, comfortable retirement. The Social Security Administrations retirement plannerincludes:

You might also find these publications helpful:

Taking the Mystery Out of Retirement Planning Top 10 Ways to Plan for Retirement

Back to Top

If you work for, or retired from, a job with a traditional pension plan, the benefits you've earned will be paid to you even if the company runs into financial problems.

ThePension Benefit Guaranty Corporation (PBGC) is a government agency that:

More than 38 million people in the U.S.havent claimed pension benefitsthey have earned.Find out if you, or someone you know, isowed a pension.

The Administration on Aging (AoA) offers Pension Counseling and Information that assists older Americans in accessing information about their retirement benefits and helps them to negotiate with former employers or pension plans for due compensation.

The IRS offers information to help you determine whether or not your pension or annuity income is taxable.

Read the original post:
Retirement | USA.gov

Per Page:

25 Communities 50 Communities 100 Communities

# Homes (Low-High) # Homes (High-Low) Name (A-Z) Name (Z-A) Price (Low-High) Price (High-Low) City (A-Z) City (Z-A)

Overview

New Jersey or the Garden State is the fourth smallest state in the United States. It is bordered by New York, Pennsylvania, Delaware and the Atlantic Ocean. Home to hundreds of 55+ active adult and retirement communities, New Jersey is a place where many individuals prefer to live. While that may have been surprising back in the early days of resort-style active adult communities, developers now know that many empty nesters and retirees enjoy staying close to their hometowns. Choosing an active adult retirement community in New Jersey close to home allows them to live within easy distance of family and friends, while still enjoying the benefits of an age-restricted, resort-style community.

Climate & Geography

New Jersey is a small, yet populated, northeastern state surrounded by water except along the northern border with New York. It has four main land regions, the Atlantic Coastal Plain, Piedmont, New England Upland and Appalachian Ridge and Valley Region. New Jersey has a fairly moderate climate due to it being situated next to the Atlantic Ocean.

New Jersey s climate includes both humid subtropical and humid continental areas. Summers are hot and humid with daytime temperatures in the high 80 s to low 90 s, especially in the southern half of the state. The more northern regions sit at a higher elevation and tend to be a bit cooler year-round. The winters are cold with daytime temperatures that usually stay below 45 degrees. Snow is common in the winter, though the amount varies from one year to the next.

Recreation, Culture & Entertainment

New Jersey plays a big role in the pharmaceutical industry, financial industry, chemical development, telecommunication, food processing, electric equipment, printing and publishing and tourism. The agriculture productions are nursery stock, horses, vegetables, fruits and nuts, seafood and dairy products.

Read the original:
New Jersey Retirement Communities & 55+ Active Adult ...

Many private colleges offer academic merit aid scholarships of between $15,000 and $25,000 per year based on good grades and test scores, but estimating ahead of time what your child will get isn't easy. Here are three examples of colleges offering a lot of money, but different ways of qualifying for it. read

Elite private colleges don't award financial aid based on good grades and high SAT or ACT scores. The only way to lower your cost at an elite college like the Ivies, Stanford or Duke, is for your family to show a need for aid based on your finances. If you don't, you'll be expected to write a check for sticker price. However, there are hundreds of excellent private colleges offering $5,000 - $25,000 per year based on good grades and test scores. Public universities are creating more and more Honors[...] read

Student loan rates have dropped for the 2015-2016 academic year, making borrowing for college less expensive, but students and parents should still try to avoid college debt if possible. read

Risk is an inherent part of life. read

Life settlements may seem like found money to investors, but you can get ripped off by selling your life insurance policy. Here's how to avoid trouble. read

The economy remains weak and stocks continue to rise. This cannot continue indefinitely. read

You've probably heard or read about all kinds of strategies that will make you rich investing. They go by many names, but they all follow the same basic idea: Zigging when others zag. It might be buying sectors at certain points of the business cycle. Or stocks that have been bid down to unusual lows. Or only owning stocks ahead of elections, when Congress is out of session or the moon is full. Yet any kind ofmarket timingor stock selection strategy depends on the same basic mechanism[...] read

In conversations recently with several people who are very close to retiring (within the next 3-6 months), the financial planning rule of thumb of a 4% safe withdrawal rate has come up in their discussions. It seems as though its become an almost universally accepted rule and is rarely questioned. To combat complacency and willing acceptance, I routinely question it, making it the starting point for conversations regarding retirement income. read

Today's question asks how having taken an early retirement benefit will affect the amount of a later spousal benefit. The answer explains how excess spousal and survivor benefits are calculated and reviews the effects of claiming early. read

A 529 College Savings Plans is Still a Good Idea to Avoid College Loans. Here are some of the best plans. read

Read the original here:
Forbes - Retirement Information and Retirement News ...

Sources: Social Security Administration; Federal Reserve of Philadelphia; Department of Labor.

This calculator estimates how much you'll need to save for retirement. To make sure you're thinking about the long haul, we assume you'll live to age 92. But you could live to be 100 or incur large medical bills early on in retirement that may raise your costs even further. Social Security is factored into these calculations, but other sources of income, such as pensions and annuities, are not. All calculations are pre-tax.

The results offer a general idea of how much you'll need and are not intended to be investment advice. The results are presented in both future dollars (at retirement) and today's dollars, which is calculated using an inflation rate of 2.3%.

First, we determine what your income will be at the time you retire by growing your current income at an annual rate of 3.8% (the inflation rate of 2.3%, plus the salary growth rate of 1.5%). We then assume you can live comfortably off of 85% of your pre-retirement income. So if you earn $100,000 the year you retire, we estimate you will need $85,000 during the first year of retirement. For each subsequent year, we increase your income need by 2.3% to keep up with inflation. We then factor in Social Security by subtracting your estimated benefits (more on that below) since that income will reduce the amount you will need to save.

The second step is to calculate the total savings you will need at the time you retire, in order to generate enough income for each year of retirement. To do this, we determine what it would cost to purchase a fixed income annuity, with inflation-adjusted payments, using a discount rate (or rate of return) of 6%. The cost to purchase this hypothetical annuity is your target savings goal.

To figure out how much you will save by the time you retire, we first estimate your future income by growing your current income at a rate of 3.8% (the inflation rate of 2.3%, plus the salary growth rate of 1.5%). Then, we determine what the sum of your annual contributions will be between now and retirement. We assume your current savings and future contributions are invested and will earn an average annual rate of return of 6%.

We estimate your Social Security benefits based on the assumption that you will have worked at least 35 years and will start collecting benefits at age 67. For most people who are working today, that's considered full retirement age. If you plan on retiring after age 67, we assumed the benefits are invested (along with your savings) and grown at the same average rate of return of 6%. We use your estimated pre-retirement income to calculate your estimated annual Social Security benefits, based on current benefit formulas and accounting for inflation. To better understand your actual Social Security benefits, please visit http://www.ssa.gov.

Continued here:
Retirement Calculator | CNNMoney

Please enter your screen name or email address and password. Not a member? Sign up!

Sign up for a free account so you can save searches and track your favorite communities. It only takes a minute!

IMPORTANT: In order to create your account, you must be able to receive a confirmation email from RetireNet.com. If you are using a spam filter with your email program, please make sure that you retirenet.com is in your list of approved domains.

Already have an account? Sign in!

In order to reset your password, we need to verify your identity. Enter your email address below and we will email you a link to reset your password. If you don't know your email address or you can't receive email at that address, contact support.

Return to Sign-in

Fill out the following form to send a friend information about this item.

Fields marked in red are required.

Your form has been submitted.

Link:
Welcome to the Retirement Net - Retirement Communities and ...

Active Adult Living has been on the internet since 1998 - longer by far than any other web sites out there. Active Adult Living has done the homework when it comes to 55+ age restricted active adult communities. We feature active adult communities, 55+ communities, as well as age targeted communities, retirement villages, condominiums, urban living, and rentals .... Active Adult Living is easy to navigate for boomers, seniors and empty nesters to find their perfect home to buy or to rent. We have THOUSANDS of active adult communities for ...read more

On average, Americans consume about 130 pounds of the sweet stuff each year. Sugar is EVERYWHERE. Check any label at the grocery store and you'll find it in everything from ketchup to lunch meat. Sugar releases the feel good chemical dopamine into the brain, so it's no wonder in our high stress world that so many reach for sweet solace. Did you know that research has likened the addiction to sugar to that of cocaine? I'm not saying quit sugar all together, but there is a way to free yourself from the "sugar trap."

Protein deficiency has been linked to increased sugar cravings. ...read more

It's easy to get stuck in a flavor rut when it comes to cooking with herbs. You buy cilantro for taco night, and what doesn't get used sits in the fridge until it wilts. Sound familiar? Herbs add a fresh flavor to slow cooked dishes, and even cocktails.

Experiment with different herb/food pairings to discover your favorites! Here are some that I find most commonly available, and that are easy to mix and match.

Parsley isn't just for garnish. It's peppery flavor is perfect in virtually any recipe, and adds a burst of freshness, and color. It's a great last minu...read more

Read more:
55+ Active Adult Retirement Community Villages | Sales ...