Retirement benefit

“ At age 55, participants were eligible for early retirement benefits, calculated in the same manner as normal retirement benefits, but reduced by five percent for each year by which a participant's retirement preceded the normal retirement age. ”

“ The employer, the employee, or both, make a contribution each year toward the pension to fall due on the retirement of the employee,” who receives a bond each year that assures him a pension when he retires, each bond being complete in itself. This scheme costs little to administer and it meets the objection against a non-contributory system, that although pensions defer pay only the employee who survives in the same service until retirement receives the benefit promised, by the provision that this bond is given each year and becomes his property, to be realized at a fixed age in later years. ”

“ Any other provisions of this Constitution to the contrary notwithstanding, the General Assembly is hereby authorized to provide by law, from time to time, for the increase of retirement or pension benefits of retired persons who retired pursuant to any retirement system, annuity and benefit fund, pension system or any similar system heretofore or hereafter created by law to which the General Assembly appropriates funds. ”

“ Public employers and employees covered by PERS make contributions to a fund maintained by PERS to pay benefits to covered employees. Under the PERS statutory scheme, two forms of monthly retirement benefits are available to public employees upon termination of their public employment. Age-and-service retirement benefits are paid to those employees who at the time of their retirement (1) have at least 5 years of service credit and are at least 60 years of age ”

“ Needed improvements in survivor, disability, and retirement benefits for Federal civilian and military personnel have been extensively considered by the Committee on Retirement Policy for Federal personnel. ”

“ No public retirement or pension system created on or after January 1, 1985, shall grant any person whose retirement is based on involuntary separation from employment a retirement or pension benefit more favorable than the retirement or pension benefit granted to a person whose separation from employment is voluntary. ”

“ Respondents concede that, at the time the Plan was terminated, they had not satisfied both the age and service requirements for unreduced early retirement benefits. Nevertheless, they claim that they are entitled to such benefits because, in their view, contingent early retirement benefits, even if unaccrued, are "benefits under the plan" under category 6, § 4044 (a) (6) , and therefore must be distributed before the employer can recoup any residual plan assets. ”

“ Even courts that have recognized equitable exceptions to the bar on alienation have assumed that § 206 (d) (1) operates, as a general matter, to proscribe garnishment of pension benefits. See St. Paul Fire & Marine, 752 F.2d, at 551-552; Crawford, 259 U.S.App.D.C., at 283-284, 815 F.2d, at 121-122.↑ The garnishment of retirement benefits is prohibited by the Social Security Act, 49 Stat. ”

“ Claims for retirement benefits payable by the Government Service Insurance System (GSIS) , shall be processed and paid in accordance with existing policy and procedure of the system; and Action on claims for retirement benefits payable by the respective offices and for the money value of accumulated vacation and sick leaves shall be temporarily held in abeyance paying the determination of the total amount required to pay the same and the funds that are available and that should be generated for the purpose. ”

“ In 1935, Congress passed Social Security after much of the same debate we read about today in the press, people saying that it would wreck the economy, that it would be terrible, that it was not the right thing to do. But from that day forward, older Americans knew they could face retirement in old age with dignity. ”

“ From its beginnings, Americans have supplemented Social Security with private pensions and savings. Yet today millions of people retire with little to live on other than Social Security. Americans living longer than ever simply must save more than ever.
Therefore, in addition to saving Social Security and Medicare, I propose a new pension initiative for retirement security in the 21st century. I propose that we use a little over 11 percent of the surplus to establish universal savings accounts--USA accounts--to give all Americans the means to save. ”

“ An attempted distinction as to pension measures for employees retired by reason of age, because old age is not in itself a consequency of employment, is but superficial. The common judgment takes note of the fact that the retirement of workers by reason of incapacity due to advancing years is an incident of employment and that a fair consideration of their plight justifies retirement allowances as a feature of the service to which they have long been devoted. ”

“ In this new century, Americans need to know that if they work hard their whole lives, they will retire with dignity, so we're working to save Social Security to ensure that the next generation of retirees will be as secure in their retirement as today's generation. ”

“ As the pension is reduced one-fifteenth for each year the annuitant lacks of 65 at the date of retirement, his separation, it is said, will impose no greater burden on the fund than if he had waited until 65; the reduction in the amount payable will discourage early retirement, and so tend to counteract the loss of skilled workers ”

“ In the course of a week, this pay gap can mean one less bag of groceries, skipping a trip to the doctor, missing a rent payment, or not being able to pay for day care. Over the course of a working lifetime, it can mean thousands of dollars, a smaller pension, and fewer savings to provide for a comfortable retirement. ”

“ I want to discuss with you steps we are taking to help strengthen the retirement security of America's workers. More than 40 million Americans save for retirement through 401 (k) accounts, making regular contributions and building economic security over a lifetime. ”

“ In fact the petitioners so admit, for they say in their brief: 'That the benefits which respondents expected to derive from their voluntary pension plans (said to be (1) greater continuity of service and (2) improved employee loyalty) differ from those emphasized in the Retirement Act does not affect the Act's validity, so long as it is calculated in other ways to promote efficiency and safety.' We are left to surmise what these 'other ways' may be unless they are the contentment and assurance of security so much stressed in the argument. ”

“ Advances were very properly conceded to them to meet the ever-increasing cost of living, and in 1918 there was instituted a superannuation scheme on a joint contributory basis, to make provision for old age retirement of each member of the staff. ”

“ Men wear out fast. To carry the incapacitated on their payroll is not only182 not economic but discouraging to the working force and it is not humane to turn them adrift. The general scheme adopted in view of these facts is either voluntary or compulsory retirement at a certain age, with weekly or monthly allowances, the amount of which depends upon the length of service and the wage, the expense of the system being borne by the employer with help from the employee. ”

“ Fortunately, many of our older Americans-who have already led the way in setting a sound course for our country's future-are helping us to meet these new challenges as well. Having lived through times of depression and war, peace and prosperity, they have shaped our progress with their achievements. The safety net they created-including Social Security, Medicare, Medicaid, and the provisions of the Older Americans Act-helps us to honor our debt to senior citizens and ensures that Americans who have worked hard throughout their lives can look forward to a secure retirement. ”

“ By eliminating this confusing and outdated retirement earnings test, the new legislation will ensure that millions of older workers who wish to continue working will be able to keep their full Social Security benefits regardless of their age or earning level. ”

“ Because the laws of many States, the practice of the Civil Service, the regulations of the Army and Navy, and the rules of many of our Universities and of almost every great private business enterprise, commonly fix the retirement age at seventy years or less. ”

“ The petitioners quote from a statement by the National Industrial Conference Board the following: 'More specifically, the efficiency of the individual workers is stimulated by the feeling of security and hopefulness that results when the individual is relieved of the fear of destitution and dependency in old age and by the sentiment of loyalty and good will fostered by the pension plan, which thus operates as a spur to the ambition of the worker and incites him to more intensive and sustained effort. ”

“ In addition to bringing a new measure of accountability to American businesses, my administration is committed to protecting the retirement savings of American workers. The plan I unveiled in February would give workers greater freedom to diversify and manage their own retirement funds. ”

“ But across the country, this new rule will boost working folks’ retirement savings by billions of dollars a year. And it will level the playing field for the many good advisors who do work in their clients’ best interest. ”

“ Younger workers have an average of about $10,000 in their accounts, while workers near retirement hold closer to $100,000 in their 401 (k) s. This is real money for real workers and we must do all we can to help make sure it's there for them when they retire.
Turbulence in the financial markets reminds us that every investment carries some risk. Yet American workers also have rights which must be respected and enforced. I've made five common-sense proposals to help protect the retirement savings of American workers. ”

“ Third, if your family makes less than $100,000 a year, you'll be able to put $2,000 a year, tax-free, into an individual retirement account, but you'll also be able to withdraw the money, tax-free, for education, a first home, or the care of an elderly parent. ”

“ As members of Congress begin work on Social Security legislation, they should pursue three important goals. First, I understand that millions of Americans depend on Social Security checks as a primary source of retirement income, so we must keep this promise to future retirees, as well. As a matter of fairness, future generations should receive benefits equal to or greater than the benefits today's seniors get. ”

“ The avowed purpose of that system is to induce the educated young men of the country to devote their lives to public employment by an assurance that having once entered upon it they need never leave it, and that after voluntary retirement they shall be the recipients of an annual pension. ”

“ Retirement security also depends upon keeping the commitments of Social Security, and we will. We must make Social Security financially stable and allow personal retirement accounts for younger workers who choose them. ”

“ It is difficult to believe that Congress, in passing the ADEA, intended to immunize acts of unabashed discrimination against older workers.
A far more sensible structural interpretation regards the § 4 (f) (2) sentence as a synthetic whole. Under this reading, the initial enumeration of "a retirement, pension, or insurance plan" serves a concrete purpose: it gives content to the ensuing word "subterfuge." ”

“ Right now, a set portion of the money you earn is taken out of your paycheck to pay for the Social Security benefits of today's retirees. If you're a younger worker, I believe you should be able to set aside part of that money in your own retirement account, so you can build a nest egg for your own future.
Here's why the personal accounts are a better deal. Your money will grow, over time, at a greater rate than anything the current system can deliver — and your account will provide money for retirement over and above the check you will receive from Social Security. ”

“ I’ve heard from so many who’ve had to put off retirement, or come out of retirement, to make ends meet. I’ve heard from seniors who worked hard their whole lives but now, in their golden years, are unsure of where to turn to pay the bills, afford the prescriptions, or keep the home in which they raised a family. And having too little in savings not only leaves people financially ill-prepared for retirement, but also for whatever challenges life brings. ”

“ The new tax law also encourages higher contributions to retirement plans. In years to come, you'll have the chance to put more money into your IRA or 401-K. You can better prepare for your later years, sending less of your money to Washington, and more into your own savings. ”

“ Combined with my plan to match 50 percent of the first $1000 of savings for families that earn under $75,000, this proposal will increase retirement savings opportunities for the 45 million working women who currently lack any employer-sponsored retirement plan. ”

“ My time for retirement from work has come. You will understand this, knowing my age, and that I am acting under medical advice. Owing to the liberality of both the Diocese and my parishioners, I am able to retire with a good annuity, besides what is due to me from our Pension Fund. So I am not under the necessity, so hard on many, of remaining at work, to its detriment, when no longer able to do full justice to it. ”

“ It is contributory and compulsory, requiring each to contribute 21⁄2 per cent of their salaries. The minimum age of retirement is 65; all must retire at 70; and 15 years of service are required for eligibility to an allowance, the annuity running from a minimum of $180 after 15 years of service to a maximum of $720 after 30 years. The scheme takes no account of the amount of salary at the time of retirement and certainly $720 is no inducement to a man receiving $2000 to resign. ”