Word: pension
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...afforded it? Sarnoff's pension is worth $36,000, he has made a number of successful stock-market investments, and his wife's salary as a school administrator adds $80,000 annually. "We're not millionaires, but since we always saved our money and invested wisely," says Sarnoff, "I knew we would be able to swing my retiring when...
...called Bizzy by friends, was valedictorian at his middle school, and is contending for that honor next June at Science High School, one of Newark's "magnet" schools. He is a star player on the school's math and chemistry teams, and is so computer-savvy that the union pension and benefit fund where his mother works pays him $15 an hour after school to solve technical problems. He may not need the money for college, though. Even before he had thought about applying, he won a $40,000 scholarship to Rensselaer Polytechnic Institute in Troy...
Senior citizens looking to prop up their pension a bit should keep a close eye on their medical bills. That's because, starting Jan. 1, Medicare beneficiaries can collect up to $1,000 for helping root out instances of the fraud and overbilling that cost the government billions of dollars each year. To blow the whistle on crooked oxygen suppliers or home-health-care providers, just call...
...them," says Carl Camden, executive vice president of operations. "They have the experience and work ethic employers want." (Camden is too tactful to add that those employers might not want quite so much experience and work ethic if they had to pay for it full-time and incur pension obligations to boot.) Operation able, with seven affiliate offices from Los Angeles to Boston, has built up an over-55 clientele accounting for about a third of those it helps...
...course, the Federal Government that in 1967 formally made age discrimination illegal. But in a landmark 1993 decision involving a pension-vesting case, the U.S. Supreme Court made it much more difficult to prove age was the cause of a layoff. After the ruling it became easier for an employer to cut payroll by replacing higher-salaried workers with lower-paid ones--even if those let go are all much older than the employees who take their place...