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The need for a product is clear: people are living ever longer (see chart 2), which creates risk for institutions such as corporate pension schemes and annuity providers that will have to provide retirement incomes for longer than expected.
Both funds provide retirement benefits to federal employees.
It is voluntary: employers aren't required to provide retirement benefits.
Bailyn said companies struggle to provide retirement resources in part because of a lack of creativity.
This voluntary plan is designed to help the employee provide retirement income with current tax savings.
The bill passed by the Senate would provide retirement incentives for nearly 100,000 of the service's 547,000 workers.
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John F. Gelson, 68, a former president of the Hamilton Watch Company, now a brand of the Swiss-based Swatchowroup, remembered how General Motors, AT&T and most Fortune 500 companies had contracts with Hamilton or other luxury-watch makers to provide retirement-gift watches to employees.
The Canada Pension Plan provides retirement, disability, and survivors' benefits.
His company provides retirement planning services to employers.
In addition to providing retirement income, Social Security acts like life and disability insurance.
After all, they say, employers are not in the business of providing retirement security.
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CEO of Professional Science Editing for Scientists @ prosciediting.com