Examples of Retirement in the following topics:
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- When a person retires, they stop working completely or semi-retire by reducing their hours.
- These days, many baby boomers are semi-retired.
- A person may also semi-retire by reducing work hours.
- Germany was the first country to introduce retirement.
- When retiring prior to age 59½, there is a 10 percent IRS penalty on withdrawals from a retirement plan like a 401(k) plan or a Traditional Individual Retirement Account (IRA).
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- The elderly, sometimes referred to as senior citizens in the United States, are a demographic group usually defined by being retired or over the retirement age (which is dependent on life expectancy changes).
- This law forbids employment discrimination against anyone who is at least 40 years old in the United States; the denial of benefits based on age; mandatory retirement; and prohibits statements of age preferences in job notices or advertisements.
- The law attempts to address company policies that force elderly employees out of work once they become eligible for government retirement benefits or due to prejudice against the elderly.
- A large component of non-monetary compensation is retirement funding and similar benefits.
- Employers will often offer matching or retirement accounts for employees.
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- The journal entry to record the retirement of a bond: Debit Bonds Payable & Credit Cash.
- If current assets will be used to retire the bonds, a Bonds Payable account should be listed in the current liability section.
- If the bonds are to be retired and new ones issued, they should remain as a long-term liability.
- Keep in mind the carrying value - cash paid to retire bonds = gain or loss on bond retirement
- Explain how to record the retirement of a bond at maturity
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- A sinking fund is a method by which an organization sets aside money to retire debts.
- In modern finance, a sinking fund is a method by which an organization sets aside money over time to retire its indebtedness by repaying or purchasing outstanding loans and securities held against the entity.
- More specifically, it is a fund into which money can be deposited, so that over time preferred stock, debentures or stocks can be retired.
- Sinking fund provision of the corporate bond indenture requires a certain portion of the issue to be retired periodically.
- A less common provision is to call for periodic payments to a trustee, with the payments invested so that the accumulated sum can be used for retirement of the entire issue at maturity: instead of the debt amortizing over the life, the debt remains outstanding and a matching asset accrues.
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- There are several social policy challenges relating to the elderly, who are generally over the age of 65 and have retired from their jobs.
- The elderly, often referred to as senior citizens, are people who are generally over the age of 65 and have retired from their jobs.
- Social security is a social insurance program consisting of retirement, disability, and survivors' benefits.
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- For example, skilled employees may be more likely to join an organization that offers free onsite parking, retirement benefits, and extra paid time off than an organization that does not offer these fringe benefits.
- If employees do not feel that an organization is treating them fairly with respect to basic needs (food, money for retirement, etc.), then they are likely to be less satisfied with their jobs, perform at a lower level, or leave.
- These can include benefits (including medical or other insurance), flex-time, time off, free or discounted parking, gym membership discounts, retirement matching, mentoring programs, tuition assistance, and childcare.
- Some governments mandate benefits such as retirement savings matching, but organizations can offer additional retirement benefits through a matching plan.
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- The Employee Retirement Income Security Act of 1974 (ERISA) was enacted on September 2, 1974.
- In general, ERISA does not cover retirement plans established or maintained by governmental entities, churches for their employees, or plans which are maintained solely to comply with applicable workers compensation, unemployment or disability laws.
- Studebaker's pension plan was so poorly funded that only 3,600 workers who were of retirement age received full pension benefits, 4,000 workers aged 40–59 who had ten years with Studebaker received lump sum payments valued at roughly 15% of the actuarial value of their pension benefits, and the remaining 2,900 workers received no pensions .
- It was not unusual for a plan to provide no benefit at all to an employee who left employment before the specified retirement age (e.g. 65), regardless of the length of the employee's service.
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- A stock repurchase is the reacquisition by a company of its own stock for the purpose of retirement or re-issuance.
- Reasons can include: (1) to cancel and retire the stock; (2) to reissue the stock later at a higher price; (3) to reduce the number of shares outstanding and increase earnings per share (EPS); or (4) to issue the stock to employees.
- The company either retires the repurchased shares or keeps them as treasury stock, available for re-issuance.
- If the intent of stock reacquisition is cancellation and retirement, the treasury shares exist only until they are retired and cancelled by a formal reduction of corporate capital.
- In the par value method, when the stock is purchased back from the market, the books will reflect the action as a retirement of the shares.
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- Old age cannot be exactly defined, but it is often associated with certain activities, such as becoming a grandparent or entering retirement.
- For example, people may be considered old when they become grandparents, or when they begin to do less or different work (retirement).