What Is "Medigap" Insurance and How Does it Work?
You’re insured under Medicare, but do you know what is (and isn’t) covered? If you’re thinking about filling in the gaps, we’ve got you covered with this must-read guide to Medigap insurance.
You’re insured under Medicare, but do you know what is (and isn’t) covered? If you’re thinking about filling in the gaps, we’ve got you covered with this must-read guide to Medigap insurance.
The market’s negative response to health crises is nothing new. How will coronavirus impact the market and your personal finances?
When you stop working and retire, taxes don’t necessarily go away. In fact, they can get harder to manage and you may have a surprise at tax-time.
The SECURE (“Setting Every Community Up for Retirement Enhancement”) act was passed into law at the start of 2020. While it has many provisions, this article covers 4½ ways that the bill may save you the amount you pay in income taxes during your retirement.
In a short answer to the question, the answer is “Yes”. Your Social Security benefits will still be affected if you take the APB.
There are a number of things to think about when optimizing your situation for your pension. Some of them can happen as far away as five years away from retirement while other large decisions can happen the day before you retire.
The AbbVie Deferred Compensation Plan allows employees to create an income stream that will be taxed at a lower rate and serve as an additional income source from their investments / pension / Social Security.
As a law enacted in the 2018 Illinois budget, TRS is now able to provide Accelerated Pension Buyouts (APB) to those that currently don’t teach under TRS anymore.
In working at AbbVie, the benefits available are substantial. As is typical in most companies, there is a life insurance benefit. But AbbVie also offers numerous supplemental life insurance plans. So, should you be signing up for these?
When you turn 65, an HSA turns into a pseudo-IRA. The account is now not just for medical expenses, it can be used for everyday expenses as well. There’s no requirement of distributions like an IRA, so the account can keep growing if you wanted to.
But when you retire, it’s almost like you’re coming to the end of your investing journey. With that being said many people think that their risk tolerance goes down to adjust for this – but that’s not the case.
If you are a teacher (or employee) retiring from a State of Illinois school district, you’ll likely have some questions about Medicare and how your TRS retiree medical insurance (TRIP) coverage works. Your benefits are unique in that TRIP will transition over to your Medicare and TRIP after age 65.