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The goal of retirement planning is to achieve financial independence . The process of retirement planning aims to: [1] Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire. Identify actions to improve readiness-to-retire. Acquire financial planning knowledge.
Putnam (surname) Putnam or Puttnam is a surname. Notable people with the surnames include: Adam Putnam (born 1974), American politician. Ann Putnam, Jr. (1679–1716), an accuser in the Salem witch trials. Ashley Putnam (born 1952), American opera singer. Benjamin Putnam (born 1981), American drag queen and comedian known as BenDeLaCreme.
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.
401 (a) In the United States, a 401 (a) plan is a tax-deferred retirement savings plan defined by subsection 401 (a) of the Internal Revenue Code. [1] The 401 (a) plan is established by an employer, and allows for contributions by the employer or both employer and employee. [2] Contribution amounts, whether dollar-based or percentage-based ...
Required minimum distributions (RMDs) are minimum amounts that U.S. tax law requires one to withdraw annually from traditional IRAs and employer-sponsored retirement plans. In the Internal Revenue Code itself, the precise term is " minimum required distribution ". [1] Retirement planners, tax practitioners, and publications of the Internal ...
The bank was established in 1871 in Brewster, New York as the Putnam County Savings Bank. In April 2015, the bank acquired CMS Bancorp. In October 2015, the bank changed its name to PCSB Bank. In April 2017, the company converted itself from a mutual organization to a joint-stock company and became a public company via an initial public offering.