Retirement Planning

Articles with information about retirement planning, pension plans and risk management for the retirement communities. Defined as income payable after a worker retires, pensions are usually paid out at age sixty or above, but can be paid out earlier. Social Security covers about 90% of all U.S. workers, and fewer than half of employees in the private sector have a private pension or profit sharing plan. Although military pensions date back to Roman times, state-run pensions for non-government workers were not developed until a century ago. Modern retirement plans generally can be classified into two general categories. Under a Defined-benefit plan, an employer promises specific benefits based on a worker's salary and tenure. In a Defined-contribution plan, workers may pay into the plan along with employers, and the end benefits will vary. Any pension plan should be a written document available for employees to read.