Disabled New Jersey Public Workers Beware – New Case Reduces Benefits
New Jersey, (PRWEB) December 24, 2004 New Jersey’s public workers, including all state employees, firefighters, police officers and teachers, will lose the ability to collect workers’ compensation benefits when they also receive an Ordinary Disability Pension, the New Jersey Appellate Division has ruled. Decided November 8, 2004, the case of Rosales vs. State of [...]
Categories: Health Care, Social Security, Social Security News Tags: Benefits, Beware, Case, disabled, Jersey, Public
RT @tony_tracy: The time to double #Canada #Pension Plan (#CPP) benefits is right now: http://j.mp/ayk1xd | #cdnpoli #retirement #pensions #income #seniors
RT @tony_tracy: The time to double #Canada #Pension Plan (#CPP) benefits is right now: http://j.mp/ayk1xd | #cdnpoli #retirement #pensions #income #seniors – by scoalegil (Scott Gillard) Share on Facebook
Categories: Health Care, Retirement, Social Security News Tags: Benefits, Double, Income, Pension, Pensions, Plan., Right, Seniors, Time
@LambForCongress #Immigration 4. Prohibit illegal aliens from any access to Social Security benefits. martyforcongress.com #TCOT #MA03
@LambForCongress #Immigration 4. Prohibit illegal aliens from any access to Social Security benefits. martyforcongress.com #TCOT #MA03 – by NewCongress4NE (Dan Edmonds)
Categories: Social security benefits Tags: #MA03, #TCOT, @LambForCongress, Access, aliens, Benefits, from, Illegal, Immigration, martyforcongress.com, Prohibit, Security, Social
Medicare supplement benefits for better Medicare coverage
It is a commonly known fact that the Original Medicare plans does not cover all the medical costs you may need to pay and therefore these costs should be paid from your own pocket. Now the fact is that to some people it may sometime become a real matter of headache at the moment for [...]
Categories: Health Care, Social Security News Tags: Benefits, Better, Coverage, Medicare
Know and Avail Your Disability Insurance Benefits Pronto
Know and Avail Your Disability Insurance Benefits Pronto A study reveals, “a 20-year-old worker has a 3 in 10 chance of becoming disabled before reaching retirement age.” If you suddenly find yourself out of job because of disability, do not lose hope. There is disability insurance and benefits program that you can avail in the [...]
Categories: Health Care, Social Security News Tags: Avail, Benefits, Disability., Insurance, Know
Minor League Pension Plan – Baseball’s NUPP Benefits
www.yougoprobaseball.com For those of you who have ever looked for the Minor League Baseball Pension Plan online or inquired anywhere else about it, you know that it seems like it didn’t exist. Well, guess what? I found the info on the old Minor League Baseball Players Pension Plan and on the new Minor League Baseball [...]
Categories: Health Care, Social Security, Social Security News Tags: Benefits, Pension, Plan.
Minor League Pension Plan – Baseball’s NUPP Benefits
www.yougoprobaseball.com For those of you who have ever looked for the Minor League Baseball Pension Plan online or inquired anywhere else about it, you know that it seems like it didn’t exist. Well, guess what? I found the info on the old Minor League Baseball Players Pension Plan and on the new Minor League Baseball [...]
Categories: Health Care, Social Security News Tags: Benefits, Pension, Plan.
A Deferred Annuity Can Reduce Income Taxes on Social Security Benefits
Medford, OR (PRWEB) January 10, 2008 AnnuityAdvantage.com announced today that it has acquired software that can analyze an individual’s financial position and offer tax-savings recommendations. This new software pinpoints the tax-savings strategy of buying a deferred annuity for those receiving Social Security benefits. Those receiving Social Security know that, depending on their [...]
Categories: Health Care, Social Security, Social Security News Tags: Annuity, Benefits, Deferred, Income, Reduce, Security, Social, Taxes
A Deferred Annuity Can Reduce Income Taxes on Social Security Benefits
Medford, OR (PRWEB) January 10, 2008
AnnuityAdvantage.com announced today that it has acquired software that can analyze an individual’s financial position and offer tax-savings recommendations. This new software pinpoints the tax-savings strategy of buying a deferred annuity for those receiving Social Security benefits.
Those receiving Social Security know that, depending on their earnings, they are responsible for paying income taxes on a portion of their benefits. The IRS adds half of an individual’s Social Security benefits plus all other income (such as pensions, CD/bond interest or capital gains) to calculate the income taxes owed. For 2007, the nontaxable threshold for total adjusted income was ,000 for a single person and ,000 for those who are married, filing jointly. Those who exceed this threshold will be required to pay income tax on 50-85% of the amount of their Social Security benefits that goes over the threshold.
For a single individual, 50% of Social Security benefits are taxed when adjusted income is between ,000 and ,000. Amounts above ,000 are 85% taxable.
For joint filers, 50% of Social Security benefits are taxed when adjusted incomes are between ,000 and ,000. Amounts above ,000 are 85% taxable.
“Income tax on Social Security benefits can reduce an already-small amount of monthly benefits,” says Ken Nuss, CEO of AnnuityAdvantage.com, an annuity shopping and comparison service. “By moving liquid investment funds into a deferred annuity, retirees may be able reduce or eliminate taxes on Social Security income. An added bonus is that deferred fixed annuities are a safe, stable way to reap tax-deferred growth on savings.”
A deferred fixed annuity, which is a contract between an insurance company and an individual, offers a favorable interest rate for a set term. For example, a premium deposit of 0,000 moved into a 10-year annuity, with a guaranteed interest rate of 5.10%, will result in 4,447 at the end of the annuity’s 10-year guarantee period. Deferred fixed annuities are backed by the full faith and credit of the issuing insurance company.
Savings products such as bank CDs, savings accounts and money market accounts are safe and earn interest; however, a consumer has to pay taxes on his or her interest earnings yearly. Annuity interest earnings, however, are tax-deferred until withdrawn. By moving fully-liquid savings accounts, CDs or money market accounts into annuities, a person can take a portion of their portfolio that produces taxable interest earnings and turn it into tax-deferred savings. With that usually-taxable portion of money locked away in an annuity, an individual’s adjusted income is lowered, which leads to the possible reduction or elimination of the taxation of Social Security benefits.
“These days, retirees and near-retirees should first be vigilantly looking for ways to maximize their income. They also have to be sure that there is little risk of losing their savings,” explains Nuss. “Buying a fixed deferred annuity can help seniors achieve these two goals.”
AnnuityAdvantage.com’s new Social Security tax analysis software assesses Social Security income, other sources of income and liquid savings to determine whether or not purchasing an annuity will save an individual from paying undue taxes on his or her Social Security income.
Those interested in learning more about how deferred annuities may help reduce personal federal income taxes should call 1-800-239-0356 or visit http://www.annuityadvantage.com. AnnuityAvantage.com also offers a free personalized Social Security tax analysis to aid consumers in determining the suitability of a deferred annuity for their individual financial situation.
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Categories: Social security benefits Tags: Annuity, Benefits, Deferred, Income, Reduce, Security, Social, Taxes
New Textbook with Blog Offers Insight on How Benefits are Designed, Financed & Delivered
Cincinnati, OH (PRWEB) October 18, 2009 A new and comprehensive benefits textbook titled “Benefits and Beyond–A Comprehensive and Strategic Approach to Retirement, Health Care and More.” is now available. Thomas E. Murphy, Executive Professor at Miami University’s Farmer School of Business has authored the textbook which offers a unique examination to how benefits [...]
Categories: Health Care, Social Security News Tags: Benefits, Blog, Offers
