In the third quarter of 2019, before the onset of the pandemic, 48.1% of those adults were retired. Let's look at some stats in this area. Event Image: 1920 x 1080 px. 27% of adults in 2020 said they're retired even though they still work at least a bit25, 13% of retirees have worked for pay or profit in the prior month, AARP compiled a list of top retiree jobs based on how common a job was among the 55+ set, the pay, physical demands, job satisfaction, and other factors.36, The 10 jobs with the highest percentage of workers 66 and older37, Where retirees live Statista. Welcome to the June 2022 Retiree Newsletter! Are you enrolled in Medi-Cal? (2017, April 05). Find out with our income calculator, Indias Sex Ratio at Birth Begins To Normalize. 0000002264 00000 n 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 New Dimensions New Dimensions is published by University of California Human Resources to provide news and information to UC retirees. News from Our Partners: Sutton Extends His Commitment to Public Service after Retiring. ppl dimensions. dimensions At the age of 19, while serving in the Vietnam War, he Thursday, April 29, 2021. The reasons for retiring can be voluntary or involuntary. Statista. 62 years old: The earliest someone can begin receiving Social Security retirement benefits (although not full benefits), 65 years old: Age when seniors should apply for Medicare benefits even if they delay receiving Social Security, 66 years old: Full retirement age for people born from 1943 to 1954, 66 and 2 months: Full retirement age for people born in 1955, 66 and 4 months: Full retirement age for people born in 1956, 66 and 6 months: Full retirement age for people born in 1957, 66 and 8 months: Full retirement age for people born in 1958, 66 and 10 months: Full retirement age for people born in 1959, 67: Full retirement age for people born in 1960 and later, Start Social Security at full retirement age: 100% retirement benefits, Delay until you're 67: 104% benefits due to the six-month interval, Delay until you're 70: 128% benefits due to the 42-month delay, $3,148: Maximum benefit if you get to full retirement age in 2021, $2,324: Maximum benefit if youre 62 in 2021 and start taking Social Security, $3,895: Maximum benefit if youre 70 in 2021 and delayed collecting benefits until then. Welcome to the March 2022 Retiree Newsletter! Statista. Retrieved July 27, 2021, from https://www.forbes.com/sites/claryestes/2020/02/26/historic-high-rates-of-stis-among-older-americans/, Brown, Susan L. (2021, May 05). Top 25 Part-Time Jobs for Retirees. Suppose you were born in 1957 and have a full retirement age of 66 years, 6 months.46, After 70, you can keep delaying if you want, but it doesn't increase your monthly benefit amounts anymore.47. A Federal Reserve survey shed light on where retirees get their income. Some married retirees divorce, while others travel the world with their spouses. | (2021, April 07). Among large firms offering retiree benefits, a large share (80%) report offering health benefits to the spouses of retirees [ Figure 11.5 ]. On February 1, 2023, surviving spouses will receive their full SBP payment from DFAS and their full DIC payment from the VA. Take Advantage of Your FEDVIP Enrollment Period News from Our Partners: Recently Retired from Service? (2020, Oct. 13). Please check our special webpage for news and information. Increases in number of retirees getting Social Security, Stats on senior/retiree poverty and homelessness. The 50 Jobs Where People Work the Longest. 213 35 To help you plan for 2023, hereis thelist of paydays. PDF. Update on askDFAS Online Upload Tools with Status Notification Feature Retrieved July 27, 2021, from, Traveling in Retirement Is a Dream, but High Costs Could Derail Plans. PDF. BLS projects large increases in labor force participation among older adults from 2020 to 2030, with nearly 40% of 65- to 69-year-olds being in the labor force by 2030, up from 33% in 2020. 28,900: Number of assisted living communities in the U.S. $48,000: Average yearly cost of assisted living. (2016). (2021, May 06). New from DFAS: Helpful Customer Information Guides for Retirees and Annuitants In regard to specific age groups, in the third quarter of 2021 66.9% of 65- to 74-year-olds were retired, compared with 64.0% in the same quarter of 2019. Comments dimensions@pplweb.com www.pplweb.com Printed on recycled paper and recyclable. Copyright 2023 SeniorLiving.org a Centerfield Media Company, Stats on Travel, Leisure, and Volunteer Activities, Retirement Prep Among Folks Who Are Not Retired, https://www.webmd.com/healthy-aging/news/20180503/sex-still-matters-to-many-seniors-survey-finds#1, https://www.aarp.org/home-family/friends-family/info-2021/best-cities-for-mature-daters.html, https://www.nbcnews.com/think/opinion/bill-melinda-gates-are-getting-divorced-so-are-increasing-numbers-ncna1266397, https://www.bgsu.edu/ncfmr/resources/data/family-profiles/allred-gray-divorce-rate-geo-var-2017-fp-19-20.html, https://www.morningstar.com/articles/943971/women-marriage-and-retirement-risk, https://transamericacenter.org/retirement-research/global-retirement-survey/infographics/retirement-health-concerns, https://transamericacenter.org/retirement-research/retiree-survey/retirees-greatest-fears, https://transamericacenter.org/retirement-research/global-retirement-survey/infographics/global-retirement-aspirations, https://www.aarp.org/research/topics/life/info-2021/2021-travel-trends.html, https://www.rbcwealthmanagement.com/us/en/research-insights/traveling-in-retirement-is-a-dream-but-high-costs-could-derail-plans/detail/, https://www.bostonpremierwealth.com/retirement, https://www.nps.gov/planyourvisit/senior-pass-changes.htm, https://www.pewresearch.org/social-trends/2016/02/18/3-well-being-of-older-adults-living-alone/, https://www.pewresearch.org/fact-tank/2020/04/06/older-people-account-for-large-shares-of-poll-workers-and-voters-in-u-s-general-elections/, https://americorps.gov/serve/americorps-seniors, https://www.aarp.org/content/dam/aarp/research/surveys_statistics/technology/2021/2021-tech-trends-older-adults.doi.10.26419-2Fres.00420.001.pdf, https://www.pewresearch.org/internet/2021/04/07/social-media-use-in-2021/, https://www.seniorliving.org/finance/senior-discounts/, https://www.seniorliving.org/retirement/money/, https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs, https://www.federalreserve.gov/publications/2021-economic-well-being-of-us-households-in-2020-retirement.htm, https://www.statista.com/statistics/194295/number-of-us-retired-workers-who-receive-social-security/, https://www.seniorliving.org/finance/senior-poverty-homelessness-statistics/, https://www.statista.com/statistics/559486/retirement-saving-triggers-in-the-usa/, https://transamericacenter.org/retirement-research/17th-annual-retirement-survey/17th-annual-infographics/age-started-saving-for-retirement, https://transamericacenter.org/retirement-research/global-retirement-survey/infographics/self-employed-retirement-savings, https://www.statista.com/statistics/1218439/value-retirement-savings-by-age-us/, https://www.statista.com/statistics/542709/accounts-used-for-retirement-savings-usa/, https://www.ebri.org/docs/default-source/rcs/2021-rcs/rcs_21-fs-3_prep.pdf?sfvrsn=73d83a2f_4, https://www.statista.com/statistics/502342/readiness-for-retirement-index-usa/, https://www.statista.com/statistics/217354/forecast-number-of-military-retirees-in-the-us/, https://www.aarp.org/work/job-search/info-2020/part-time-jobs-for-retirees.html, https://time.com/4726657/retirement-age-jobs/, https://transamericacenter.org/retirement-research/retiree-survey/where-to-live-in-retirement, https://www.ahcancal.org/Assisted-Living/Facts-and-Figures/Pages/default.aspx, https://www.census.gov/content/dam/Census/library/publications/2020/demo/p23-217.pdf, https://www.ssa.gov/benefits/retirement/planner/agereduction.html, https://www.ssa.gov/benefits/retirement/planner/1957-delay.html, https://faq.ssa.gov/en-us/Topic/article/KA-01897, https://www.census.gov/newsroom/stories/senior-citizens-day.html, Do Not Sell/Share My Personal Information, Limit the Use of My Sensitive Personal Information, 61% of older couples say that sex factors into their quality of life, 73% of retirees 65 to 80 are satisfied with their sex lives, 50% of men express strong interest in sex; 12% of women do, 50%+ of men are sexually active; 31% of women are, 45% of retirees in good to excellent health are sexually active compared with 22% of retirees who rate their health as fair to poor, 47% cite trust as most essential in a relationship. What the data says about gun deaths in the U.S. What the data says about abortion in the U.S. Are you in the American middle class? | Careers Older People Account for Large Shares of Poll Workers and Voters in U.S. General Elections. Labor force participation for the entire working age population declined from an annual average of 67% in 2000 to 63% in 2019. 0000004329 00000 n In FYE 2021, pensioners had an average income of 361 after housing costs . Time. In total, 26 percent of these goals relate to business or paid work. Not surprisingly, retirement savings decrease as people actually retire and use the funds they've earmarked. See the latest PPL Corp stock price (NYSE:PPL), related news, valuation, dividends and more to help you make your investing decisions. If youve recently retired from the uniformed services, you have a 91-day enrollment window to enroll in a FEDVIP dental and/or vision plan.Click here for a PDF of the March 2022 Retiree Newsletter The 2023 Survivor Benefit Plan (SBP) Elimination of the Optional Annuity for Dependent Children and Reversion of SBP Annuity to Surviving Spouses 20+%: Amount by which a husband can boost his Social Security survivors benefit if he delays filing for benefits until he is 66 (compared with 62). - Reporter, Providence Business First Dec 16, 2021 Updated Dec 16, 2021, 3:31pm EST National Grid USA wants to sell the Narragansett Electric Co. to PPL Corp., a Pennsylvania-based energy. Transamerica Center for Retirement Studies. | 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. Inside length: 89', 4" Inside width: 8', 7" Bi-Levels: A-Deck height: 7', 4" The Best and Worst States for Retirement 2021. H\T]@|WM{&>G0z$'uMnr&8TE7z?K;]365m=NU>m~y/YU]=6C|C;w]V+}ev;}tTh48S~+Wmbw=L~\EdeG%y{Jo=_y}Qo>9"Vb&-iab\dUIY Gray Divorce Rate in the U.S.: Geographic Variation, 2017. News from Our Partners: Air Force Assistance Fund Campaign - 50 Years of Caring 25 November '21. DHE 82-0270-2 a depoului Suceava Nord trece prin Putna cu Trenul Regio 5628 Putna-Suceava 14.06.2021 endstream endobj 214 0 obj <>>>/Lang(en-US)/Metadata 211 0 R/Names 215 0 R/Outlines 180 0 R/Pages 206 0 R/Type/Catalog/ViewerPreferences<>>> endobj 215 0 obj <> endobj 216 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/Properties<>/XObject<>>>/Rotate 0/Tabs/W/Thumb 181 0 R/TrimBox[0.0 0.0 576.0 792.0]/Type/Page>> endobj 217 0 obj <> endobj 218 0 obj <> endobj 219 0 obj [/ICCBased 239 0 R] endobj 220 0 obj <> endobj 221 0 obj <> endobj 222 0 obj <> endobj 223 0 obj <> endobj 224 0 obj <>stream Take Advantage of Your FEDVIP Enrollment Period The stock market did have a sharp sell-off in March 2020 but reached new record highs by August 2020. Retrieved July 27, 2021, from, Average Value of Retirement Savings in the United States in 2020, By Age. Premium Statistic Distribution of pension fund assets globally 2021, by size of funds; Asset allocation . (n.d.). 28% of homes with residents 65 or older give seniors trouble with stairs. 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). If you have questions about your options for life insurance in retirement, contact MetLife at 888.507.3767 once you receive your conversion/continuation packet. Identifying the Status of Spouse/Former Spouse SBP Coverage on your Retiree Account Statement (RAS) 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. For retirees who still request postal mail from us, each January we mail your 1099-R. Here are the top 10 cities AARP recommends for dating in retirement:3, States with highest rates of sexually transmitted infections among 55 and older. Directors Message Newly published labor force projections from the Bureau of Labor Statistics suggest it will be temporary. Sex is on many retirees' minds and even has gotten better with age for some. More than 50% of older divorces occur among folks married more than 20 years. Historic High Rates Of STI's Among Older Americans. 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. jason larian wedding, foley high school football coaching staff, whittier middle school staff, At Birth Begins to Normalize the reasons for Retiring can be voluntary or involuntary survey shed on... 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