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2. Independent contracting in the United States - Wikipedia

   en.wikipedia.org/wiki/Independent_contracting_in...

   The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...

3. How To Read a Pay Stub - AOL

   www.aol.com/finance/read-pay-stub-193928053.html

   Employee No.: Your unique ID number at your place of employment used by payroll managers instead of your full name. Employee Name: Your name. Social Security No.: Your Social Security number ...

4. Independent Contractor Taxes: A Complete Guide - AOL

   www.aol.com/independent-contractor-taxes...

   Unlike an employee, the independent contractor must pay self-employment tax on income minus deductions. The self-employment tax rate is 12.4% for Social Security and 2.9% for Medicare taxes as a ...

5. Retirement plans in the United States - Wikipedia

   en.wikipedia.org/wiki/Retirement_plans_in_the...

   Types of retirement plans. Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.

6. Public employee pension plans in the United States - Wikipedia

   en.wikipedia.org/wiki/Public_employee_pension...

   Public employee pension plans in the United States. In the United States, public sector pensions are offered at the federal, state, and local levels of government. They are available to most, but not all, public sector employees. These employer contributions to these plans typically vest after some period of time, e.g. 5 years of service.

7. 401(k) withdrawal rules: What to know before cashing out ...

   www.aol.com/finance/what-are-401k-withdrawal...

   The minimum withdrawal age for a traditional 401 (k) is technically 59½. That’s the age that unlocks penalty-free withdrawals. You can withdraw money from your 401 (k) before 59½, but it’s ...

8. Federal Employees Retirement System - Wikipedia

   en.wikipedia.org/wiki/Federal_Employees...

   Generally, an employee has the right to determine his/her "date of final separation" (i.e. the last day on the payroll; it does not have to be the final working day in a pay period); the following day is the employee's retirement date. The annuity does not begin until one full calendar month has passed since the employee's retirement. Thus, an ...

9. Federal Retirement Thrift Investment Board - Wikipedia

   en.wikipedia.org/wiki/Federal_Retirement_Thrift...

   The Thrift Savings Plan is a tax-deferred defined contribution plan similar to a private sector 401(k) plan. The Thrift Savings Plan is one of the three parts of the Federal Employees Retirement System, and is the largest defined contribution plan in the world. As of August 2021, the board manages $794.7 billion in assets on behalf of 6.4 ...