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Retirement Planning

Cost of Living Allowance (COLA)

"Welcome, students. Today, we'll be discussing the concept of Social Security benefits and its annual adjustments. As you may know, these adjustments are made to keep pace with the rising cost of living, also known as the Cost of Living Adjustment or COLA. This ensures that the benefits received by retirees and disabled individuals maintain their purchasing power over time. Let's delve deeper into this crucial aspect of the financial world."

Rollover IRA

An Individual Retirement Account, or IRA, is designed to hold assets from a qualified plan for those who are eligible. This plan allows for tax-deferred growth of investment...

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Social Security

Social Security is a government program that offers benefits for disability, death, and retirement to eligible individuals. All income is subject to Social Security tax, whi...

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Life Annuity Payment Option

An annuity offers various payment options to an annuitant, one of which is the life annuity option. This option guarantees payments for the duration of the owner's life, but...

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Defined Benefit Plan

A retirement plan, referred to as a 'qualified plan', is structured to provide a benefit to employees upon retirement. The benefits are usually calculated as a percentage of...

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