Mose Triplett enlisted in the Confederate Army at 16, then deserted and joined the Union. He married at 78, and his daughter Irene, born when he was 83, still receives his Civil War pension of $73.13 per month. The last surviving Civil War veteran died in 1956, and the last known widow died in 2008. […]
Annuities are life insurance contracts that provide life benefits and generate income for retirees. Insurance companies sell annuities, which are often contained in pensions, and use actuarial tables to predict life expectancy. Annuity contracts are profitable if annuitants die sooner than expected. Many insurance companies market annuity products to pension providers, while employers prefer mutual […]
Deferring a pension can increase retirement benefits, but may delay retirement. Pension benefits are based on years of service, contributions, and compensation. Deferred pensions can be received as a lump sum or annuity payments, with potential financial benefits for both options. Employers can also defer pension contributions, but this may have consequences for the pension’s […]
Government employees are often promised pension payments upon retirement, managed by a division of pensions and benefits. These divisions handle paperwork, ensure eligibility, and manage payments for retirees. Private companies also offer similar benefits with internal divisions to manage claims. In many jurisdictions, one of the advantages of working for the government is the promise […]
Annuities provide lifelong income and are often included in pensions, but many pension providers have switched to less expensive mutual funds or stock plans. Insurance companies sell annuities and use actuarial tables to predict life expectancy. Annuities are profitable if recipients die earlier than expected. Employers are attracted to annuities, but they are expensive to […]
Thinking analysts have three main functions: benefit calculators, plan validators, and data collectors. They help companies and individuals with retirement planning, investment advice, and legal compliance. Mathematical and communication skills are essential, and they work with private companies and government entities. They also deal with complex laws and regulations and may act as official agents […]
