U.S. Census Bureau. 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. This is a moment-in-time measure, and increases reflect the net change of adults moving both into and out of retirement due to changes in labor force participation. Many have turned to streaming services, including Netflix and Amazon Prime Video, 18% of adults 50+ lack internet access or have access only thanks to their cellphone or satellite company, 5% don't know if they could get internet at home, 60% of all adults 50+ say the cost of internet access is an issue, $300,000: Amount a retired couple can expect to spend on healthcare. The 2023 Changes to the SBP Optional Annuity for Dependent Children: What Surviving Spouses and Children Need to Know and Do 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. During the Great Recession and its aftermath, retirement rates declined. 3. From one perspective, people enter retirement when they leave the workforce and rely on savings and investments. Fidelity. Espaol Comments. The next few stats also show up in a report we did on senior poverty and homelessness. Boomers were more likely than their younger counterparts to save the cash for future trips.11, America the Beautiful National Parks & Federal Recreational Lands Passes, Travel for pleasure is slightly more common among retirees who live with others, Higher percentage of women than men spend time on hobbies, Many retirees do volunteer or community work, Retirees eager to help in elections; most poll workers are 61 or older, Retirees more likely than younger people to vote, AmeriCorps Seniors offers retiree volunteer opportunities, Among people 65+, here's the percentage who use the various social media platforms:20. Social Security Administration. Other desirable attributes, in decreasing order of importance, include emotional intimacy, empathy, loyalty, physical intimacy, sexual attraction, and common interests. (2017). The CPS microdata files analyzed were provided by the IPUMS at the University of Minnesota. For some retirees, two decades is too long of a time to spend in an empty or bad marriage. Now, they're involved in more than 25% of divorces. Men also tend to have higher benefit amounts. 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. WvYV)e\tl20$fyr_44 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. Retrieved July 27, 2021, from, Anderson, Monica, and Auxier, Brooke. 20+%: Amount by which a husband can boost his Social Security survivors benefit if he delays filing for benefits until he is 66 (compared with 62). Retrieved July 27, 2021, from, Brandon, Emily. endstream endobj 225 0 obj <> endobj 226 0 obj <> endobj 227 0 obj <>stream 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). To avoid any disruption in direct deposit, DFAS allows SBP child annuitants to set up a direct deposit in their own name up to 60 days prior to reaching their 18th birthday. The general counsel of Allentown, Pennsylvania-based PPL Corp. has announced her plans to retire from the utility company after 35 years of service in the legal department and five . U.S. Census Bureau. 0000033228 00000 n The large impact of the COVID-19 recession February 2020 to April 2020 on retirement differs from recent recessions and marks a significant change in a long-standing historical trend toward declining or steady retirement rates among older adults. (2020, Feb. 26). %%EOF Retrieved July 27, 2021, from, 2021 RCS Fact Sheet #3: Preparing For Retirement in America. Retrieved July 27, 2021, from, Martin, Anthony. Someone who is 65 years old today can expect to live about another 20 years. 0000003003 00000 n (2020, Oct. 05). Welcome to the December 2022 Retiree Newsletter! 0000005680 00000 n Tagalog 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. (n.d.). | Conditions of Use ^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 Retrieved July 27, 2021, from, Wilson, Chris. 0000047915 00000 n Bi-level and tri-level rail cars are designed to transport pick-up trucks, minivans and sports utility vehicles. Browse Medicare Advantage HMO and PPO options. Women also tend to have a trickier road to navigate since they often work and serve as their children's primary caregivers.7, 6 years: Average length of time by which a wife outlives her husband7, Most folks worry at least a little about what their health will be like in retirement. 2: Number of critical home accessibility designs for aging in place. Department of StateCivilian Personnel Mgmt ServiceDTS Travel CenterSystem for Award Mgmt (SAM) Congressional/Legislation The content, including without limitation any viewpoint or opinion in any profile, article or video, contained on this website is for informational purposes only. Households in 2020. | Gray Area Retirees: Did You Know There is a New, Special myPay Account Just for You? The long-standing principle of Airmen taking care of our own has been made a reality by you over the years, and youre still leading todays Airmen and Guardians by example! Here's a look at the factors involved in whether retirees stay put or move.38, Older men who live alone more likely to feel social isolation vs. women living alone, 811,500: Number of residents in assisted living42, 33 licensed beds: Average size of an assisted living community43. They are bathroom accessibility and single-floor living. Gray Area Retiree Spotlight Article: Retiring Soon? Amazon. Current issue November 2022 Volume 39 Number 4 + Archives August 2022 Volume 39 Number 3 May 2022 Volume 39 Number 2 February 2022 Volume 39 Number 1 November 2021 Volume 38 Number 4 August 2021 Volume 38 Number 3 | 0000010627 00000 n Retrieved July 27, 2021, from, Global Retirement Aspirations. PDF. 0000016757 00000 n How Much Money Do I Need to Retire? Well-being of older adults living alone. 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. WebMD. U.S. News & World Report. News from Our Partners: DoD Uniformed Services ID Card Reissuance Vision. |_a;zf>|#G>bS;;;;;;;;;;;;+^J/|Rz)TKRzL#+eV4edJ3+''_k6U9kK5ZA!_. Retrieved July 27, 2021, from, Allred, Colette. Number of retired workers receiving Social Security in the U.S. 2010-2021 Published by Statista Research Department , Sep 30, 2022 The number of retired workers receiving Social Security. The COVID-19 outbreak has affected data collection efforts by the U.S. government in its surveys, especially limiting in-person data collection. 14% want to work full time Employee Benefit Research Institute. If you love to play golf, you get your choice of more than 160 . .E//m@0$ E%:P,p C1#O8,1_}Xi9\/s1 cQ7%ow>LEo%wR)2}Q~07}sS7zir{k>g` ]p][(*^kSo|O\6N*U&S_\U{g_[9'*cPJ+{5MMMZokuS{hXXfz ^/K,5 By the third quarter of 2010, 48% of adults ages 55 and older were retired, down from 50% in the same quarter of 2007. Widows can collect more money by getting a survivors benefit instead of their own. 0000018047 00000 n | The recovery began in April 2020, and labor markets have tightened. (2021, Jan. 14). 1~@%1d.dPK%h ZB-PK%|^ Get the New Tips & Tools for Retirees New to Retired Pay Retrieved July 27, 2021, from, Hoyt, Jeff, and Stanley, Maureen. Coverage for a former spouse does not continue after the divorce unless certain actions are taken. Tip: Changing Bank Accounts for Your Retired Pay? Obviously, a lot of travel funds went unspent in 2020. Educating Your Beneficiaries Before Your Final Paycheck AOP Retiring uniformed service members are considered newly eligible for FEDVIP. FRS Bulletin: The Division of Retirement distributes this newsletter to active members of the FRS Pension Plan to keep members informed of retirement legislation, benefit provisions and other retirement-related news of interest. Ting Vit, About Us 3.9 154,871 Reviews. 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. Are you enrolled in Medi-Cal? 665 . Ppl retirees dimensions magazine 2021. and retirees, encourage dialogue and generate ideas that contribute to the corporation's success. That way, you have Social Security cash as a fallback if you're short of money.23, Significant healthcare expenses are likely. Adjusting for special items . Health Care Facilitators. NBC News. 0000037954 00000 n - Facebook will scale down to minimum dimensions: 470 174 pixels. Retrieved July 27, 2021, from, Reasons for Starting to Save Money for Retirement in the United States in 2020. The recent retirement spike has not been uniform across demographic groups. , Unsatisfactory Immigration StatusBeneficiaries in theLocal Educational Agency Medi-Cal Billing Option Program, TCM Cost Report Due Date and Instructions for Reporting State Fiscal Year (SFY) 2020-21 Costs, The latest CCUG will be available upon request from the CMAA Unit, Countywide Averages (CWAs) for the Fourth Quarter (Q4) of State Fiscal Year (SFY) 2019-20, Please contact the CMAA unit to obtain a copy of the CWA worksheet, Personal Protective Equipment (PPE) Costs as Reported in the TCM Cost Report, Claiming Reimbursement for Participation Fees. 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. News from Our Partners: Calderon Service Soars Long After Retiring from USAFGiving Back through the CFC in Many Ways Start Early! 0000013101 00000 n The estimates are not seasonally adjusted. 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. Click here to download a PDF of the December 2022 Retiree Newsletter Retrieved July 27, 2021, from, Barthel, Michael, and Stocking, Galen. Retrieved July 27, 2021, from, Retirees Greatest Fears Infographic. About two-thirds of people 50 and older (versus less than half of younger adults) see divorce as the best solution when couples cannot resolve marriage issues. 2021 Tech Trends and the 50-Plus. AD&D. Medicare. The SBP-DIC Offset Phased Elimination: Phase Two is Here About Pew Research Center Pew Research Center is a nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping the world. 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