0000000996 00000 n For a deeper look, give the report a read. startxref Choice Mutual. (2021, May). Welcome to the March 2022 Retiree Newsletter! Employee Benefit Research Institute. Use this handy checklist to do a retired pay checkup. News from OurPartners: Change in Temporary Guidance for USID Cards The resulting loss of wealth induced some older workers to remain in the labor force and postpone retirement. In the 10 years from FYE 2010 to FYE 2020, pensioners had similar average incomes with 321 and 333 respectively. The Best and Worst States for Retirement 2021. - Choose a higher resolution at that scale for better quality. Transamerica Center for Retirement Studies. In partnership with Clare Housing, construction expected to begin 2021. Retrieved July 27, 2021, from, Freed, Stacey. 2021 Tech Trends and the 50-Plus. Retrieved July 27, 2021, from, Rapacon, Stacey. Annual Performer Review 2019-20. What prompts people to start saving for retirement?28, Age people started saving for retirement29, Self-employed conscious of need to save for retirement30, Retirement savings not on track for many25, How much money the different age groups have saved for retirement31. Retrieved July 27, 2021, from, 2021 RCS Fact Sheet #3: Preparing For Retirement in America. To help you plan for 2023, hereis thelist of paydays. 14% want to work full time PPL 21-041 December 8, 2021 0000011848 00000 n Tip: Changing Bank Accounts for Your Retired Pay? These people were more likely to say they involuntarily retired due to a lack of available work or because their jobs forced them to. Now, thanks to e-Giving options, donors can give contributions year-round. This is out of the nearly 50 million U.S. seniors, 20%: Percentage of seniors in multigenerational households, 24 million: Number of homeowners in the U.S. who are 65 and older, 7 million: Number of renters in the U.S. who are 65 and older, 33% of seniors 65 and older who live alone say they do so in financial comfort, 24% have a little left over after meeting basic expenses, 25% have just enough money to satisfy basic expenses, 12% lack sufficient funds to take care of basics, 49% of seniors 65 and older who live with others say they do so in financial comfort, 26% have a little left over after meeting basic expenses, 16% have just enough money to satisfy basic expenses, 5% lack sufficient funds to take care of basics, 48% of male seniors living alone are very satisfied with how many friends they have, 62% of male seniors living with others are very satisfied with how many friends they have, 71% of female seniors living alone are very satisfied with how many friends they have, 67% of female seniors living with others are very satisfied with how many friends they have, 10%: Percentage of homes that are aging-ready, with a first-floor bedroom and bathroom, stair-free entryway, and a bathroom with one or more accessibility features. The National Defense Authorization Act (NDAA) for Fiscal Year 2020 directed that as of January 1, 2023, the "Optional Annuity for Dependent Children" will be eliminated and the SBP monthly annuity payment must revert to the surviving spouse (if the surviving spouse submits documentation confirming eligibility). The retirement rate of older Black adults did not significantly increase. (2015). Make sure you have everything set up so you can get your tax documents for filing. The 2023 Changes to the SBP Optional Annuity for Dependent Children: What Surviving Spouses and Children Need to Know and Do as of January 1, 2023, the Optional Annuity for Dependent Children will be eliminated and the SBP monthly annuity payment must revert to the surviving spouse (if the surviving spouse submits documentation confirming eligibility). Coverage for a former spouse does not continue after the divorce unless certain actions are taken. PPL Retirement Plan 28 employees reported this benefit 5.0 4 Ratings Available to US-based employees Change location Employee Comments Showing 1-4 of 4 Mar 10, 2022 5.0 Current Computer Programmer in Allentown, PA, Pennsylvania Great Benefits are given from ppl to their employees Helpful Report Dec 18, 2016 5.0 The financial context in which older adults are making retirement decisions during the pandemic is markedly different from the Great Recession. (2021, March 09). As of the third quarter of 2021, 50.3% of U.S. adults 55 and older said they were out of the labor force due to retirement, according to a Pew Research Center analysis of the most recent official labor force data. Retired in this analysis is based on labor force status. ^j=l\])2u+^) NhPn5`J;2R4y)A 1r:2>gX5IQOjgdqe\t?z9j/m1~[Ym1Uo[ya-mtwO`a:B8*=UW+=fMG;Td=L906HiJ,k:EoJpKTU8WTUKG8^]y5Xd[L$Obtlu[eNtM[yqL_67DSNr Y#Y*8Hvwc"GM*-g -l)Q:\:Z#-)&nbyic4UEu4Q,g=?aEf!J%%sGN](u*xr% %]_NQ7w+8e!ivjy YD=[x6Ju]IDwH5x%%^@4H *)0 +D vL#^)6y,cP\@#^*ba]m)H7R[sx`iFHpZ -"r h!ba Ii&4Gj4D%%- 9Ek Q/[FcDDB=$:L{HKN7 o:\%8-=Kv^\`8HZd0F^/}/8j>.*?Tq\0]$!K (2021, April). Butch enlisted in the United States Army. Statista. | Special items for 2021 were $2.98 per share, primarily due to discontinued operations associated with the . (2021, April 07). The stock market did have a sharp sell-off in March 2020 but reached new record highs by August 2020. The Institute of Electrical and Electronics Engineers (IEEE) has seated Marc-Andr De Looz, a senior engineer and project manager at the U.S. Department of Energy's (DOE) Princeton Plasma Physics Laboratory (PPPL), to a four-year term on its Fusion Technology Standing Committee. (n.d.). In regard to specific age groups, in the third quarter of 2021 66.9% of 65- to 74-year-olds were retired, compared with 64.0% in the same quarter of 2019. Welcome to the March 2022 Retiree Newsletter! (2021, Feb. 26). FSA Dependent Care: $5000 max/year. Editor-Kevin Amerman, corporate communications specialist (610) 774-6841 | kmamerman@pplweb.com Providing insight, perspective and analysis of PPL news, strategies and people to engage employees . Welcome to the December 2022 Retiree Newsletter! 0000003003 00000 n Participation has also been declining this century among the prime working age population, those ages 25 to 54. Retrieved July 27, 2021, from, Hoyt, Jeff, and Stanley, Maureen. Annual Performer Review 2017-18. Here's the list of aspirations for retirement:10. Not surprisingly, retirement savings decrease as people actually retire and use the funds they've earmarked. PDF. Are You Ready to Join the Fight? Has your contact information changed in This sum includes Medicare premiums, copays, deductibles, and, 43% of retiree healthcare spending goes to copayments, coinsurance, deductibles, and similar expenses, 39% of healthcare spending goes to Medicare Part B and D premiums, 18% goes to generic, branded, and specialty drugs, 15%: Percentage of annual expenses retirees can expect to pay on healthcare costs, 33% of the people who take early Social Security retirement at 62 do so to help pay healthcare expenses, 79% of retirees get Social Security income (93% among retirees 65+), 59% receive pensions (68% among retirees 65+), 46% get dividend income, interest, or rental income (50% among retirees 65+), 32% draw from salaries, wages, or self-employment (25% among retirees 65+), 12% get cash transfers that aren't Social Security (7% among retirees 65+), 46.33 million retirees received Social Security in 2020, 90%: Percentage of cash income going to lower-income seniors from Social Security and Supplemental Security Income (SSI), 12.8%: Percentage of seniors 65 and older living in poverty, according to the supplemental poverty measure, $12,261: Poverty threshold for a single senior 65 or older, $15,453: Poverty threshold for couples 65+ with no children, Employer offered matching contributions 24%, Automatic enrollment in employers retirement plan 16%, 75% of self-employed folks feel personally responsible for ensuring adequate retirement income, 45% of self-employed people expect their retirement income to stem from savings and investments (vs. 32% for employed workers), About 75% of non-retired adults have some savings for retirement; just 36% see their savings as being on track, About 25% of non-retired adults have no retirement savings, 54% have defined contribution pensions such as 401(k)s and 403(b)s, 48% possess savings that aren't in retirement accounts, 12% have other types of retirement savings, Regular savings account 55% of survey respondents had this type of account, 401(k) 54% of survey respondents had this type of account, Traditional IRA 20% of survey respondents had this type of account, Roth IRA 19% of survey respondents had this type of account, Certificate of deposit 19% of survey respondents had this type of account, Annuity/life insurance policy 17% of survey respondents had this type of account, Taxable investment account 17% of survey respondents had this type of account, 29% of workers are very confident they will have the resources for a comfortable retirement, 21% strongly agree that retirement prep stresses them out, 49% of all workers have estimated how much money they need monthly for a comfortable retirement, 38% have estimated their health expenses in retirement, 43% plan for emergency expenses when doing retirement savings, 39% have considered the amount of money to withdraw in retirement, 33% are working with a financial professional; 38% who aren't currently working with one expect to later, 51% have thought about how they're going to occupy themselves when retired, 5.57: U.S. retirement readiness index score in 2012 (1 to 10, 10 being the highest score), Forced to retire or no work available 11%, 20 years: Length of time people in the military can serve and receive retirement pay, 2.19 million: Estimated number of military retirees in 2021, 2.28 million: Forecasted number of military retirees in 2031, 53% will work because they need the extra money, 39% say work will be good for their brainpower, 34% point to work as giving them a sense of purpose, 21% like the idea of working since it fosters social connections, 2x: Likelihood that a worker 65 or older is part-time vs. a worker 25 to 64 years old, Farmers, ranchers, and other agricultural managers 12.7%, Bus and ambulance drivers and attendants 12.6%, Real estate brokers and sales agents 11.7%, Musicians, singers, and related workers 10.9%, Access to hospitals and great healthcare 48%, 35 million (or about 70% of seniors): Number of seniors who live alone or with a spouse/partner. As one of the best places to retire in Florida, The Palm Beaches is featured on our 2022 list of the best places to retire in the country. News from Our Partners: Air Force Assistance Fund Kicks Off Annual Campaign for Charities Click here to download a PDF of the December 2022 Retiree Newsletter States with the highest gray divorce rates per 1,000 women:6, States with the lowest gray divorce rates per 1,000 women:6, Almost 10%: Percentage by which a previous divorce increases retirement financial risk for women who are currently married. Despite COVID-19 Concerns, Many Boomers Plan to Travel in 2021. Retrieved July 27, 2021, from, Kakulla, Brittne. | Conditions of Use However, you can become a full AARP member at age 50. Meanwhile, roughly 1,800 seniors left the city . Units: 42. Further, SeniorLiving.org shall not be liable for any informational error or for any action taken in reliance on information contained herein. Local Education Agency Medi-Cal Billing Option Program (LEA BOP) notificationof contractor placement on the Time Survey Particpant (TSP) lists for the Random Moment Time Survey (RMTS). The SBP-DIC Offset Phased Elimination: Phase Two is Here Annual Performer Review 2020-2021. Some folks experience serious ups and downs but stay together. Increases in number of retirees getting Social Security, Stats on senior/retiree poverty and homelessness. Of the said amount, P1.38 billion were approved for30,772 retiree-pensioners who filed their applications through SSS branches, while the remaining P96.62 million were approved for 2,235 retiree . ALLENTOWN, Pa., May 6, 2021 /PRNewswire/ -- PPL Corporation (NYSE: PPL) on Thursday (5/6) announced a first-quarter 2021 reported net loss (GAAP) of $1.84 billion, or $2.39 per share, compared with first-quarter 2020 reported earnings of $554 million, or $0.72 per share. Retrieved July 27, 2021, from, Global Retirement Aspirations. (2017). dimensions At the age of 19, while serving in the Vietnam War, he Thursday, April 29, 2021. Words that may come to mind include these: golden years, leisure time, cruises, grandchildren, consulting work, Social Security, 401(k)s, downsizing, divorce, aging in place, and even rebirth. Divorce later in life has become so common it has a term: gray divorce. Bill and Melinda Gates, and Al and Tipper Gore are two well-known couples who bade sayonara to spouses they married years ago. Top 25 Part-Time Jobs for Retirees. 0000002264 00000 n AD&D. Medicare. 0000004215 00000 n 0000020697 00000 n Check out the new, helpful information for military Gray Area Retirees (2018, May 03). PPL offers reimbursement accounts through Sentinel Benefits to allow employees to pay for qualified parking, public transportation, healthcare and dependent care expenses on a tax-free basis. Information about your retirement, health and other benefits, including carriers' contact information. Now, they're involved in more than 25% of divorces. | Contact Us Statista. Welcome to the June 2022 Retiree Newsletter! For Army National Guard, Air National Guard, Army Reserve, Navy Reserve, Marine Corps Reserve and Air Force Reserve Gray Area Retirees, there is a new avenue to stay connected and informed between the time they stop drilling and the time they start receiving retired pay. School Cert Season Is Here Again Steps to Take for Your College-Age SBP Child Annuitants FSA Parking: $265 max/month. As part of our work to identify efficiencies that can speed up processing of requests and reduce costs, we will stop mailing multiple Retiree Account Statements (RAS) during the month. Sex is on many retirees' minds and even has gotten better with age for some. Have a good idea of the amount of money you'll need, what your retirement goals are, and your preferences for living situations (aging in place, retirement community, assisted living, etc.). Well-being of older adults living alone. Bloom Lake Flats. Vision. Pew Research Center. | Based on the increase in the Consumer Price Index, there is an 8.7 percent COLA for most retired pay and Survivor Benefit Plan annuities. 1615 L St. NW, Suite 800Washington, DC 20036USA These folks tend to feel more confident asking for what they want and don't worry about pregnancy scares. The 9-month requirement does not apply if your death is accidental, or if there is a child born of the marriage. Retrieved July 27, 2021, from, Barthel, Michael, and Stocking, Galen. Welcome to the June 2022 Retiree Newsletter! Retrieved July 27, 2021, from, Frequently Asked Questions. It is possible that some measures of retirement and labor market activity and its demographic composition are affected by these changes in data collection. H\n0D 25 November '21. What you need to know about the SBP 2023 Active Duty/Line of Duty Optional Annuity for Dependent Children elimination and annuity reversion to surviving spouses. Learn about PPL , including insurance benefits, retirement benefits, and vacation policy. In regard to specific age groups, in the third quarter of 2021 66.9% of 65- to 74-year-olds were retired, compared with 64.0% in the same quarter of 2019. PPL Corporation ( NYSE: PPL) Q3 2021 Earnings Conference Call November 4, 2021 11:00 AM ET Company Participants Vincent Sorgi - CEO Joe Bergstein - CFO Greg Dudkin - COO Andy Ludwig - Vice. AARP. Frequently Asked Questions (FAQs) Related to Public Health Emergency (PHE) and COVID-19 Activities. Retrieved July 27, 2021, from, Seniors and Poverty/Homelessness Statistics. In addition, there were policy changes in Social Security that may have impacted retirement decisions. (n.d.). Senior Discounts and Savings. You Can Too. 0000006355 00000 n PPL Corporation (NYSE:NYSE:PPL) Q4 2021 Earnings Conference Call February 18, 2022 11:00 ET Company Participants Andy Ludwig - Vice President, Investor Relations Vince Sorgi - President and. (2021, March 02). You have 31 days from the date your active employee coverage ends to convert coverage. News from Our Partners: DoD Uniformed Services ID Card Reissuance Any third party contributor to any such profile, article or video has been compensated by SeniorLiving.org for such contribution. For some retirees, two decades is too long of a time to spend in an empty or bad marriage. Mesa, AZ. Please check our special webpage for news and information. Bowling Green State University. January 1, 2022 marked the start of the second phase of the SBP-DIC Offset Phased Elimination. 401(k) A 401(k) is a defined contribution plan. Boston Premier Wealth. The leading edge of the Baby Boomer generation reached age 62 (the age at which workers can claim Social Security) in 2008. Retrieved July 27, 2021, from https://www.forbes.com/sites/williampbarrett/2021/05/14/the-best-places-to-retire-in-2021/?sh=132105387106, Brandon, Emily. 2023 Cost of Living Adjustment (COLA) (2021, July 13). Giving Back through the CFC in Many Ways SeniorLiving.org. AARP. Highlighted Image: 1200 x 717 pixels. Our new customer guides explain how to use many of our time-saving tools, including Form Wizards, Online Upload Tools, Status Notifications, and our website. For instance, some retirees work to keep their brains sharp, while others do it out of necessity. Statista. | Among those who found love, 18% had success via mutual friends' introductions, 13% found their significant other through dating apps, 12% met their partner through community events, parties, and other local activities, 9% met their partner through casual or everyday activities, 8% did so in church or religious settings, 7% apiece met future significant others in a senior retirement community; through work; or on social media, 66% of seniors who used dating apps/websites ended up in a relationship with someone they met there, Hinge, Plenty of Fish, Bumble, and eHarmony also proved successful for many seniors, 54% of survey respondents had not been on a date in the past five years, 10% had not been in a relationship lasting more than a year, 14% of widows seriously dated in the past five years, Washington, D.C., 881.8 infections per 100,000, North Dakota, 14.9 infections per 100,000. Historic High Rates Of STI's Among Older Americans. Retrieved July 27, 2021, from, Important Criteria in Retirees Choice of Where to Live in Retirement Infographic. CRDP/CRSC Open Season - Frequently Asked Questions 0 8 Transamerica Center for Retirement Studies. With the tax deadline rapidly approaching (Monday, April 18th), now is a good time to make sure you have all your tax documents in hand. Employers can offer retirees both medical and prescription drug coverage with a group Medicare Advantage plan. Retrieved July 27, 2021, from https://www.ahcancal.org/Advocacy/IssueBriefs/NCAL_Factsheet_2019.pdf, Facts & Figures. Take Advantage of Your FEDVIP Enrollment Period, Click here for a PDF of the March 2022 Retiree Newsletter, Hosted by Defense Media Activity - WEB.mil. |_a;zf>|#G>bS;;;;;;;;;;;;+^J/|Rz)TKRzL#+eV4edJ3+''_k6U9kK5ZA!_. WvYV)e\tl20$fyr_44 Dental. We are working to prepare the forms, policies, and processes. Those who cite retired as the reason for not being in the labor force (neither employed nor seeking work) constitute the retired population. Retrieved July 27, 2021, from, Number of Retired Workers Receiving Social Security in the United States from 2010 to 2020. 213 35 Based on its initial data, the SSS approved the release of P1.47 billion pension loans for 33,007 retiree-pensioners from January to June 2021. ppl dimensions. The 2023 Survivor Benefit Plan (SBP) Elimination of the Optional Annuity for Dependent Children and Reversion of SBP Annuity to Surviving Spouses Download a PDF of the December newsletter to read, print or share (right click and choose "Save link as" to save to your computer), Click here to download a PDF of the September 2022 Retiree Newsletter, Click here to download a PDF of the June 2022 Retiree Newsletter, Directors Message 10 Great Cities for Older Singles. For retirees who still request postal mail from us, each January we mail your 1099-R. Hmoob Retrieved July 27, 2021, from, Hoyt, Jeff, and Stanley, Maureen. Department of StateCivilian Personnel Mgmt ServiceDTS Travel CenterSystem for Award Mgmt (SAM) Congressional/Legislation Suppose you were born in 1957 and have a full retirement age of 66 years, 6 months.46, After 70, you can keep delaying if you want, but it doesn't increase your monthly benefit amounts anymore.47. Copyright 2023 SeniorLiving.org a Centerfield Media Company, Stats on Travel, Leisure, and Volunteer Activities, Retirement Prep Among Folks Who Are Not Retired, https://www.webmd.com/healthy-aging/news/20180503/sex-still-matters-to-many-seniors-survey-finds#1, https://www.aarp.org/home-family/friends-family/info-2021/best-cities-for-mature-daters.html, https://www.nbcnews.com/think/opinion/bill-melinda-gates-are-getting-divorced-so-are-increasing-numbers-ncna1266397, https://www.bgsu.edu/ncfmr/resources/data/family-profiles/allred-gray-divorce-rate-geo-var-2017-fp-19-20.html, https://www.morningstar.com/articles/943971/women-marriage-and-retirement-risk, https://transamericacenter.org/retirement-research/global-retirement-survey/infographics/retirement-health-concerns, https://transamericacenter.org/retirement-research/retiree-survey/retirees-greatest-fears, https://transamericacenter.org/retirement-research/global-retirement-survey/infographics/global-retirement-aspirations, https://www.aarp.org/research/topics/life/info-2021/2021-travel-trends.html, https://www.rbcwealthmanagement.com/us/en/research-insights/traveling-in-retirement-is-a-dream-but-high-costs-could-derail-plans/detail/, https://www.bostonpremierwealth.com/retirement, https://www.nps.gov/planyourvisit/senior-pass-changes.htm, https://www.pewresearch.org/social-trends/2016/02/18/3-well-being-of-older-adults-living-alone/, https://www.pewresearch.org/fact-tank/2020/04/06/older-people-account-for-large-shares-of-poll-workers-and-voters-in-u-s-general-elections/, https://americorps.gov/serve/americorps-seniors, https://www.aarp.org/content/dam/aarp/research/surveys_statistics/technology/2021/2021-tech-trends-older-adults.doi.10.26419-2Fres.00420.001.pdf, https://www.pewresearch.org/internet/2021/04/07/social-media-use-in-2021/, https://www.seniorliving.org/finance/senior-discounts/, https://www.seniorliving.org/retirement/money/, https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs, https://www.federalreserve.gov/publications/2021-economic-well-being-of-us-households-in-2020-retirement.htm, https://www.statista.com/statistics/194295/number-of-us-retired-workers-who-receive-social-security/, https://www.seniorliving.org/finance/senior-poverty-homelessness-statistics/, https://www.statista.com/statistics/559486/retirement-saving-triggers-in-the-usa/, https://transamericacenter.org/retirement-research/17th-annual-retirement-survey/17th-annual-infographics/age-started-saving-for-retirement, https://transamericacenter.org/retirement-research/global-retirement-survey/infographics/self-employed-retirement-savings, https://www.statista.com/statistics/1218439/value-retirement-savings-by-age-us/, https://www.statista.com/statistics/542709/accounts-used-for-retirement-savings-usa/, https://www.ebri.org/docs/default-source/rcs/2021-rcs/rcs_21-fs-3_prep.pdf?sfvrsn=73d83a2f_4, https://www.statista.com/statistics/502342/readiness-for-retirement-index-usa/, https://www.statista.com/statistics/217354/forecast-number-of-military-retirees-in-the-us/, https://www.aarp.org/work/job-search/info-2020/part-time-jobs-for-retirees.html, https://time.com/4726657/retirement-age-jobs/, https://transamericacenter.org/retirement-research/retiree-survey/where-to-live-in-retirement, https://www.ahcancal.org/Assisted-Living/Facts-and-Figures/Pages/default.aspx, https://www.census.gov/content/dam/Census/library/publications/2020/demo/p23-217.pdf, https://www.ssa.gov/benefits/retirement/planner/agereduction.html, https://www.ssa.gov/benefits/retirement/planner/1957-delay.html, https://faq.ssa.gov/en-us/Topic/article/KA-01897, https://www.census.gov/newsroom/stories/senior-citizens-day.html, Do Not Sell/Share My Personal Information, Limit the Use of My Sensitive Personal Information, 61% of older couples say that sex factors into their quality of life, 73% of retirees 65 to 80 are satisfied with their sex lives, 50% of men express strong interest in sex; 12% of women do, 50%+ of men are sexually active; 31% of women are, 45% of retirees in good to excellent health are sexually active compared with 22% of retirees who rate their health as fair to poor, 47% cite trust as most essential in a relationship.
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