Welcome to the March 2022 Retiree Newsletter! No matter what, starting to plan early can help ensure you get the retirement you aspire to. 0000037954 00000 n 0000003625 00000 n Retrieved July 27, 2021, from, Reasons for Starting to Save Money for Retirement in the United States in 2020. Gray Divorce Rate in the U.S.: Geographic Variation, 2017. 8/30/2022 4:16 PM. News from Our Partners: Sutton Extends His Commitment to Public Service after Retiring. It is possible that some measures of retirement and labor market activity and its demographic composition are affected by these changes in data collection. 0000033228 00000 n Those who cite retired as the reason for not being in the labor force (neither employed nor seeking work) constitute the retired population. PPL Corporation May 6, 2021 PPL Corporation Reports First-Quarter 2021 Earnings - Announces first-quarter reported net loss (GAAP) of $2.39 per share, reflecting a $2.65 per share net loss from discontinued operations associated with the U.K. utility business. DHE 82-0270-2 a depoului Suceava Nord trece prin Putna cu Trenul Regio 5628 Putna-Suceava 14.06.2021 (n.d.). (For example, in 2000 the earnings test on benefit claimants was no longer applied to those who had reached full retirement age.). The 2023 Survivor Benefit Plan (SBP) Elimination of the Optional Annuity for Dependent Children and Reversion of SBP Annuity to Surviving Spouses 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 1. The SBP-DIC Offset Phased Elimination: What Surviving Spouses Need to Know About 2023 Well-being of older adults living alone. 401(k) A 401(k) is a defined contribution plan. trailer Retrieved July 27, 2021, from, Global Retirement Aspirations. Espaol 0000020697 00000 n 0000005041 00000 n News from OurPartners: Change in Temporary Guidance for USID Cards In the 10 years from FYE 2010 to FYE 2020, pensioners had similar average incomes with 321 and 333 respectively. Tagalog The retirement rate increased for older adults living in metropolitan areas (2 points) andalso increased for older adults in rural areas (1 point). See the latest PPL Corp stock price (NYSE:PPL), related news, valuation, dividends and more to help you make your investing decisions. Most retirees don't have pension plans and Social Security income isn't enough to maintain a pre-retirement standard of living. Browse Medicare Advantage HMO and PPO options. 27 November '19. They are bathroom accessibility and single-floor living. The local phone number to reach Retired & Annuitant Pay Customer Service has changed. Known for its white sand beaches, palatial estates, golf, and watersports, there's something for all retirees here. Retrieved July 27, 2021, from, Most Popular Accounts for Retirement Savings in the United States in 2020. Statista. | Retrieved July 27, 2021, from, Retirement Readiness Index Score in the United States from 2012 to 2020. New Phone Number: Changes as of June 1st This partly reflects a steep drop in participation among 16- to 24-year-olds (66% to 56%) as young people increasingly pursued schooling rather than employment. Survey: Dating & Love Among 55+ in 2021. Get the New Tips & Tools for Retirees New to Retired Pay 10 Great Cities for Older Singles. Benefits information above is provided anonymously by current and former PPL employees, and may include a summary provided by the employer. (2018, May 03). A defined contribution . Products like larger tractors, motor homes and military vehicles move on uni-level flat cars. Yeah, a little bit of everything! Retirement among those 55 and older who have completed at least a bachelors degree rose 3 percentage points over this period. (2020, March 05). | AARP. Theres Still Time to Get a Head Start on Tax Season Households in 2020. | Why Older Citizens are More Likely to Vote. Retrieved July 27, 2021, from, Anderson, Monica, and Auxier, Brooke. (2019, Aug. 27). 3.9 154,871 Reviews. As part of our work to modernize Retired & Annuitant Pay and make the processes easier for you, we are building a suite of online tools that allow forms and required documentation to be uploaded through askDFAS on the DFAS.mil website 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 CPS microdata files analyzed were provided by the IPUMS at the University of Minnesota. Units: 42. Retrieved July 27, 2021, from, Freed, Stacey. Our fourth quarter results bring our total 2021 results to a net loss of $1.93 per share. Get caregiver alerts and 24/7 Urgent Response through your Amazon Echo! Mesa, Arizona is the top city in our study where retirees are moving. 0000010627 00000 n 28,900: Number of assisted living communities in the U.S. $48,000: Average yearly cost of assisted living. The SBP-DIC Offset Phased Elimination: What Surviving Spouses Need to Know About Phase Two and Phase Three Gradually declining retirement reflected in part rising education levels among older Americans as well as gains in their health. The 9-month requirement does not apply if your death is accidental, or if there is a child born of the marriage. FSA Parking: $265 max/month. 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. Welcome to the December 2022 Retiree Newsletter! So Are Increasing Numbers of Older Americans. In partnership with Clare Housing, construction expected to begin 2021. 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. Men also tend to have higher benefit amounts. Click here to download a PDF of the June 2022 Retiree Newsletter However, not everyone is taking steps today to minimize these health-related risks down the road.8, Travel is a huge retirement goal for people around the world. Butch enlisted in the United States Army. | (2016, Feb. 18). Click here to download a PDF of the December 2022 Retiree Newsletter Retrieved July 27, 2021, from, Levy, Vicky. 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). Stats on military retirees. 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. (2020, Nov. 23). Take Advantage of Your FEDVIP Enrollment Period Dental. 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 . Retrieved July 27, 2021, from, Report on the Economic Well-Being of U.S. If a married couple wants to have a 90 percent certainty they can cover their out-of-pocket health expenses in retirement, they'll need $259,000 in savings, according the Merrill Lynch/Age Wave. If you are covered by the Civil Service Retirement System (CSRS) or CSRS-Offset, your spouse is entitled to a survivor benefit provided you have at least 18 months of civilian service and you were married for at least 9 months. Below is a long-term dividend history. As a PPL retiree, I see that the company has now cut all ties with its retirees. Report outages or power problems 24x7 at. News from Our Partners: Calderon Service Soars Long After Retiring from USAFGiving Back through the CFC in Many Ways you have any questions, please contact the PPL Pension and Savings Center at 1-800-827- 3321 or Employee Benefits at the Employee Benefits mailbox at benefits@pplweb.com or by calling 610-774-5022 (ETN 220-5022) or toll-free at 1-800-710-4985, Option #3. Retrieved July 27, 2021, from, Average Value of Retirement Savings in the United States in 2020, By Age. In 2019, about 3,800 seniors moved to Mesa from a different state. 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. . Between 2008 and 2019, the retired population ages 55 and older grew by about 1 million retirees per year. Learn about PPL , including insurance benefits, retirement benefits, and vacation policy. (2019). Retrieved July 27, 2021, from, 2021 RCS Fact Sheet #3: Preparing For Retirement in America. Dublin, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The "3D Printing in Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to. The SBP section has five lines for members who participate in SBP. ppl dimensions. DFAS continues to roll out the use of status notifications to keep you in the loop as forms or documents you submit move through the retired pay or annuitant pay processing cycles. For some couples, retirement means reconnection, while others continue the same as always, whether good or bad. The stock market did have a sharp sell-off in March 2020 but reached new record highs by August 2020. Mesa, AZ. |l+ | Retrieved July 27, 2021, from, Martin, Anthony. Morningstar. PPL employees and retirees reflect on the evolution of grid automation and its impact on the work we do every day. Retrieved July 27, 2021, from, Kakulla, Brittne. Annual Performer Review 2018-19. Retrieved July 27, 2021, from, Seniors and Poverty/Homelessness Statistics. The content, including without limitation any viewpoint or opinion in any profile, article or video, contained on this website is for informational purposes only. 7 popular account types for retirement savings (2020)32, Retirement prep can be stressful, and many folks aren't confident about the likelihood of comfortable golden years, Sources of information for retirement prep33, Employer or work-provided information 22%, Retirement readiness has increased a bit since 201234. It is a subsidiary of The Pew Charitable Trusts. the past two years? U.S. News & World Report. 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. 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ppl retirees dimensions 2021