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But don't let that put you off, as most schemes have few penalties and it's relatively simple to transfer the cash either to your existing workplace pension (if it is a stock market-based defined contribution scheme) or into a private pension.
I am 55, face a future of minimum wage or less, which in turn minimizes my already meager Social Security pension, if it isn't torn from us.
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The airline, a unit of UAL, has been operating in bankruptcy protection for more than a year, and has said that it must restructure the payments coming due to its employee pension funds if it is to emerge successfully.
Lump-sum pension balance values represent the accumulated value of an executive's pension plan if it were to be paid out all at once.
Lump-sum pension balance values represent the accumulated value of an executive's pension plan if it was paid out all at once.
But another, which would have allowed those officers to use their highest-earning year as the basis for their pension even if it was not their last year on the job, was abandoned as too costly.
He outlined several options that, he said, he was seriously considering, including allowing officers who have the 20 years of service necessary for retirement to use their highest-earning year as the basis for their pension even if it was not their last year on the force.
With a nod to the rise of Asia and other emerging economies, he asserted that Britain needs to "do or decline", by changing its approach to education, state pensions and other spending, if it is to compete with ambitious countries less attached to past entitlements.
Perhaps you have sufficient income from Social Security, a pension, or any annuities, but if it isn't enough you might need to turn to your retirement accounts or other non-qualified savings/investments.
If it is, the pension problems get solved.
The Senate bill also contains language that would let Greyhound treat its pension plan as if it were fully funded when in fact it is not.
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