To receive an estimated transfer value, please register or log in to our online Member Self Service portal. Peninsula Pensions provides information in accordance with statutory guidelines . This is within three months of the request being received for transfers out. We will always assume that you want to switch to a defined contribution plan … Read more
An individual retirement account (IRA) is a retirement savings account. People who have earned income are able to make annual contributions to their IRA up to a certain amount. For the 2022 tax year, the annual contribution cannot be more than $6,000; however, it can increase to $6,500 for the 2023 tax year. As a … Read more
Even though it feels good to be here at last after all the searching and purchasing, the work of budgeting and financial planning does not end when you get the keys to your new house. How do you safeguard your investment in your first home? Of course, everything you have already done should aid in … Read more
Social Security only covers earned income, your wages, or your net income from self-employment. Your wages are covered by Social Security if money was deducted for “Social Security” or “FICA.” This indicates that you are contributing to the Social Security system, which safeguards your retirement, disability, benefits for survivors, and Medicare. Annuities, pension payments, and … Read more
For an immediate annuity, the minimum yearly investment is as low as $25,000. You can open a fixed annuity with as little as a $2,500 to $5,000 minimum investment if you continue to make premium payments. The type of annuity you choose and the objectives you hope to accomplish will determine how much money you … Read more
Selecting the best retirement plan for your staff is a significant choice that needs careful consideration. To evaluate different options, such as SIMPLE IRA vs. 401(k) plans, here are some key preliminary questions to ask: Choosing the right retirement plan is a crucial decision for both employers and employees. Understanding the differences between Simple IRA … Read more
In addition to providing you with more control over the distribution of your assets than a will does, a trust may also help you become eligible for Medicaid. Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about our editorial standards and how we make money. While many people use their last will … Read more
Generally speaking, the first $60,000 (previously $30,000) of a probate estate may be claimed by the surviving spouse. A legitimate prenuptial or postnuptial agreement may waive the right to receive the Spousal Allowance. Understanding Spousal Rights in Second Marriages In the intricate landscape of second marriages, inheritance rights and asset distribution can become a complex … Read more
In the end, when it comes to a personal savings goal for retirement, the goal is just that—very personal. Can a couple retire with $2 million? Do you really need $5 million? Everybody’s definition of the perfect retirement is different. Even though an average nest egg might be sufficient for a couple with reasonably low … Read more
This article will answer the question of whether money in the bank affects Social Security disability benefits and provide information on how to manage your resources while receiving benefits. How Much Money Can You Have in the Bank on Social Security Disability? The amount of money you can have in the bank on Social Security … Read more