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William P. Bengen is a retired financial adviser who first articulated the 4% withdrawal rate ("Four percent rule") as a rule of thumb for withdrawal rates from retirement savings; [1] it is eponymously known as the "Bengen rule". [2] The rule was later further popularized by the Trinity study (1998), based on the same data and similar analysis.
On the other hand, 401(k) plans are usually funded with pre-tax money, so you’ll usually owe income tax on withdrawals in the year that you take them. Pension Taxes
Other authors have made similar studies using backtested and simulated market data, and other withdrawal systems and strategies. The Trinity study and others of its kind have been sharply criticized, e.g., by Scott et al. (2008), [2] not on their data or conclusions, but on what they see as an irrational and economically inefficient withdrawal strategy: "This rule and its variants finance 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]
The Oklahoma Public Employees Retirement System (OPERS) is an agency of the government of Oklahoma that manages the public pension system for majority of Oklahoma state employees. 74 Okla.Statutes §§901 et seq. The System provides pension benefits such as normal retirement, disability retirement, surviving spouse benefits and a death benefit.
Originally introduced in the 1992 federal budget, the initial amount that could be borrowed was $15,000. [20] Seventeen years later the amount was raised to $25,000 in the 2009 budget. [21] The 2019 budget raised that amount again to $35,000. [22]
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