Retirement Does it seem like a long way off or like it is just around the corner? Regardless, you owe it to yourself and your family to make your retirement planning a priority. Planning When should I start planning? Where do you start? Who can you talk to in order to get accurate answers to […]
We plan our daily lessons, dinners, parties, vacations…..Why not plan for our retirement, too? About 10 years before I retired, I sought the help of the Ameritime of Educator Specialists. My husband, Joe, and I met with a team of specialists that laid out the PSRS in easy to understand visuals and terms. The team […]
Our Resource One Control Option Team took the time to get to know Joe and me along with our children. We discussed our short term and long term goals and the futures of our children (generational planning). With the team’s help, we captured a “picture” of information such as our taxable assets, tax-deferred assets, our […]
For me, the most advantageous strategy to purchase years was by directly transferring money from my 403b to my account at the PSRS. I didn’t really see that as a cost, because in essence, I really just transferred money from one pocket (403b) to another pocket (my PSRS account). Note: For individuals who do not […]
It is not a secret, nor is it magic! I sought the help of an Ameritime / Resource One Control Option Team that was well versed with our retirement system (the MO PSRS). I then decided to implement the strategies shared and suggested based on “My Overall Financial Picture”… I qualified for and decided to […]
PSRS – Public School Retirement System of Missouri PEERS – The Public Education Employee Retirement System of Missouri The questions roll in as educators begin to explore and understand our Missouri retirement system. (By the way, we have one of the BEST retirement plans in the country. It is definitely worth getting to know.) Did […]
The Problem Missouri Public School Teachers who are in the PSRS generally DO NOT pay into Social Security. But many educators also have worked other jobs where they DID pay into Social Security. Many therefore DO qualify for Social Security benefits. However, Social Security has rules for those who receive both a pension where they […]
How familiar are you with the Partial Lump Sum Option (PLSO)? Are you aware of what it is and what it takes to be eligible for it when you retire? Is it the same benefit for everyone? How will it impact your taxes, or does it even have to impact your taxes? Simply put, the […]
COST OF LIVING INCREASES (COLA) Social Security has announced that there will be annual COLA for 2020 of 1.6%. Last year, 2019, the COLA was 2.8%. All Social Security recipients — whether on one’s own retirement benefit, a spousal benefit, a divorced spousal benefit, a widow or widower benefit will receive this 1.6% increase. Even […]
Retire Earlier You may be able to retire earlier than you think. After working for 24 years in public education, I retired at age 46, with a monthly pension! Impossible? Not at all! Not if you have the help and expertise of one particular company. Though I enjoyed my years in education, I was getting […]