How Much Pension can You Receive After Retirement? (2)
How to calculate the pension
Consider the total annual income of up to 35 years (after adjusting for inflation, the income of 50,000 in 1980 is of course much higher than the income of 50,000 in 2010. The Social Security Office has an inflation coefficient annual, which is ultimately converted to present value), if If you have not worked for 35 years, you will get the income for all the years of work.
Divide the total income by 35, then divide by 12 to get the average monthly income.
Calculate the pension under the normal retirement age (take 2012 as an example): the first 767 is converted to 90%, the range from 767 to 4624 is calculated as 32%, then 15%. For example, if someone has an average monthly income of 4762, their pension is: 767 × 0.9 + (4624-767) x 0.32 + (4762-4624) x 0.15 = 1945.
Next, look at the pensions of Americans in various income groups at normal retirement age.
❶ The basic salary such as salesman, hotel waiter, etc., the hourly wage is 8-10 yuan, if the average monthly income is 1400:
After 10 years of work, the pension is 360
If you work for 20 years, the pension is 701
Working for over 35 years, the pension is 892
❷ General income such as office workers, monthly salary is 2000-3000, if average monthly income is 2500:
If you work for 10 years, the pension is 643
If you work for 20 years, the pension is 902
Working for over 35 years, the pension is 1245
❸ The median income from full-time jobs such as elementary school teachers, journalists, etc., with an annual salary of 40,000 to 50,000, if the average monthly income is 3,500:
If you work for 10 years, the pension is 765
If you work for 20 years, the pension is 1084
Working for over 35 years, the pension is 1565
❹ High paying jobs like professional white collar workers, with an annual salary of 60,000 to 100,000, if the average monthly income is 6,000:
If you work for 10 years, the pension is 993
If you work for 20 years, the pension is 1542
Working for over 35 years, the pension is 2131
❺The maximum salary, like management, exceeds the maximum social security ceiling of 110,000, that is, the average monthly income is 9,166:
If you work for 10 years, the pension is 1283
If you work for 20 years, the pension is 2017
Working for over 35 years, the pension is 2,605
In this way, the upper limit of the pension is 2605 per month. Now the average Social Security payment for Americans on Social Security (March 2014) is 1,185 (this includes all people on Social Security, most people are retirees, and their average pension is 1,298 ). If you retire early, you can receive it at age 62 at the earliest, but only 75% of the total amount, and it will be reduced to 70% in the future. Deferred retirement will be rewarded and the pension will increase, so I will not discuss it here.
America's dual track system
The total number of state employees in the United States is over 20 million, or 15% of the workforce. In addition, the proportion of high salaries among civil servants has led to a huge gap in retirement pensions, which has been criticized by public opinion. In recent years, due to increased spending by public pension funds, it has not been able to make ends meet. Some departments, such as the post office, are abandoning their pension plans and joining the federal social security system.
401K retirement plan
In addition to Social Security, the United States also has 401K or similar plans. This type of supplementary pension scheme is mainly intended for self-saving. The state does not temporarily levy tax on this part of the income (social security tax and old age medical tax are not Throw it in. It can be taken out after age 60, but tax on income must be paid, but when income is low, the tax rate will be reduced.Many small businesses in the US do not provide 401,000 at all. Even though only 60% of companies offer 401 (k) plans 000 give money to their employees, a common solution is to give employees 3% of their salary. However, few Americans have money to invest in 401K, and typically invest 5% to 7% of their salary. salary in 401K. Of the more than 156 million workers in the United States, only 51 million invested in 401K. At the end of September 2012, the total value of the 401K plan was $ 35 trillion, which is equivalent to $ 60,000 per person., About 20,000 2).
Statistics show that 36% of active and retired Americans have savings and investments (including 401K) of no more than 1,000 yuan, while 56% of Americans who are about to retire have no more than 25,000 savings. and investments, so it's extremely important. Most Americans retire solely on government pensions. Recent Gallup polls show Americans' biggest concern is that they can't take a break, which is 59%.