Word: retiree
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Funny how peace slips away. Two months ago, Northern Ireland seemed on the brink of a final settlement. Then the Irish Republican Army was accused of carrying out a $50 million bank robbery in Belfast. Finally, last week, British Prime Minister Tony Blair and his Irish counterpart, Bertie Ahern, said...
If you should die before reaching retirement, all the money would go to your heirs. If you should die after you retire, they could inherit only that portion of your personal account that had not been committed to an annuity. They would not receive any payout from the annuity.
Additional "transition costs"-amounting to trillions of dollars-would be incurred in the early decades. The Bush Administration argues that those costs would eventually be offset by savings in future decades, when people who invest in personal accounts begin to retire and get smaller Social Security payouts than they otherwise...
That remains the big unanswered question. Everyone in Washington knows it would be political suicide to cut the benefits of today's retirees or those about to retire. Absent those options, there are only three ways to bring the system into fiscal balance: cut future benefits, raise taxes or borrow the money, which adds to the debt...
Puamau cinavilakeba got married last May. A week later, he kissed his wife goodbye and set off on the long trip from home, in suburban Suva, to his new job, in Mosul, Iraq. Escorting convoys of trucks and oil tankers along lawless roads isn't the safest work in the...