Event Image: 1920 x 1080 px. Divorce later in life has become so common it has a term: gray divorce. Bill and Melinda Gates, and Al and Tipper Gore are two well-known couples who bade sayonara to spouses they married years ago. 0000000996 00000 n Comments. The 9-month requirement does not apply if your death is accidental, or if there is a child born of the marriage. Make sure you have everything set up so you can get your tax documents for filing. PPL's fourth-quarter 2021 reported earnings were $134 million, or $0.18 per share, compared with reported earnings of $290 million, or $0.38 per share, in 2020. So, for most retirees, the primary source of income comes from retirement accounts such as 401(k)s and Individual Retirement Accounts (IRAs). Have a good idea of the amount of money you'll need, what your retirement goals are, and your preferences for living situations (aging in place, retirement community, assisted living, etc.). 2.5: Rate of gray divorce among remarried couples 50 or older compared with those married for the first time, 344,755: Number of women 50 and older who divorced, 10.3: Number of divorces per 1,000 married women 50 and older, 4.9: Number of divorces per 1,000 married women 50 and older, 82% of folks express concern about their health in retirement, 57% skip behaviors such as smoking and drinking, 43% try to think big picture when making lifestyle choices, 42% engage in proactive health measures such as regular self and medical checkups, 17% meditate, do relaxation exercises, or otherwise focus on mindfulness, 44%, worsening health that requires long-term care, 44%, Social Security reductions or total elimination, 22%, little or no access to good, affordable healthcare, 47% planned to travel in 2021 only if a vaccine was available; fortunately, it is, 74% noted that COVID-19 issues will prevent them from taking all the trips they would rather go on in 2021, 57% wanted to travel to spend time with friends and family, 58% of Boomers earmarked unspent money for future trips, $6,691: Amount Boomers expect to spend on 2021 travel vs. $5,000 for Gen X and $4,000 for Millennials, 63% of people 50 and older polled by RBC Wealth Management note travel as a critical retirement goal, 75% of people 50 and older with household incomes of at least $50,000 said travel was important; 50% who had incomes under $50,000 gave the same designation, 99% of Boomers plan at least one trip in a normal year (non-COVID), More than 5: Number of trips each Boomer takes per year on average, 4 of 10 head internationally to Mexico, the Caribbean, the British Isles, and other destinations, $11,077: Amount of money the average retiree spends every year on travel, $44,051: Mean after-tax household income for people 65 and older, 62 or older: Age to qualify for senior passes from the National Park Service, $80 + $10 processing fee: Cost of lifetime Senior Pass from the National Park Service, $10: Cost of the pass before the increase in 2017, $20 + $10 processing fee: Cost of an annual Senior Pass, 4: Number of annual senior passes you can trade in to receive a lifetime pass, Free + $10 handling fee: Cost of lifetime access pass for people with permanent disabilities, 47% of seniors living alone say they travel for pleasure, 55% of seniors living with others report traveling for pleasure, 65% of women 65+ living alone and 63% of women living with others report devoting, 49% of men living alone and 73% of men living with others report devoting more time to hobbies and interests in retirement, 42% of men who live alone and 56% of men who live with others say they volunteer or are involved in their community, 49% of women who live alone and 55% of women who live with others say they volunteer or are involved in their community, 59% of seniors living alone say their lives have less stress as they get older, 60% of seniors living with others indicate the same, 64% of seniors 65 and older voted in the Nov. 2018 elections, $1,144: Average amount adults 50 and older spent on technology in 2021, 64% of the 50+ set owned a smart TV in 2020, a noticeable increase from 49% in 2019, 50+% of seniors 70 and older own a smart TV, 80% of adults 50 and older use tech to stay connected to family and friends; COVID-19 prompted many to try this method, 44% of the older adults surveyed feel more positively, 53% of seniors 70 and older have a tablet, 69% of these tablet-owning seniors say they use it daily, In 2019, just 40% of seniors reported owning a tablet, 38% of the 50+ set watched traditional TV (network and cable) in 2020, a huge drop from 2019's 60%. 0000004441 00000 n Choice Mutual. (2021, Feb.). AARP. We are excited to introduce the Form Wizard for the DD Form 2894 Designation of Beneficiary. Retrieved July 27, 2021, from, Traveling in Retirement Is a Dream, but High Costs Could Derail Plans. --PPL Corporation on Friday reported a 2021 net loss of $1.48 billion, or $1.93 per share, compared with reported earnings of $1.47 billion, or $1.91 per share in 2020.. Special items were . Women, Marriage, and Retirement Risk. If possible, don't include expected Social Security income when planning how to get that 80 percent. %%EOF Figure 11.5: Among Large Firms Offering Health. Getting help with UC Retirement At Your Service (UCRAYS) Medical. New Phone Number: Changes as of June 1st Federal Reserve. States with the highest gray divorce rates per 1,000 women:6, States with the lowest gray divorce rates per 1,000 women:6, Almost 10%: Percentage by which a previous divorce increases retirement financial risk for women who are currently married. DFAS continues to roll out the use of status notifications to keep you in the loop as forms or documents you submit move through the retired pay or annuitant pay processing cycles. Adjusting for special items . In the 10 years from FYE 2010 to FYE 2020, pensioners had similar average incomes with 321 and 333 respectively. Based on its initial data, the SSS approved the release of P1.47 billion pension loans for 33,007 retiree-pensioners from January to June 2021. Authentication Apps are Your New Best Weapon Local Educational Agency Medi-Cal Billing Option Program (LEA BOP) Interpretation of "Complete 15-Minute Period" Following an Initial Service Increment. The stock market did have a sharp sell-off in March 2020 but reached new record highs by August 2020. 0000015189 00000 n uB-PK0#G0A>|xg==J~W+](RGD>:%QG~D>:" ' @=8s@=xi9s Kh2 4yMaO4/Q` y If you miss these deadlines, you will forfeit your right for retiree group life insurance. 0000002466 00000 n Welcome to the December 2022 Retiree Newsletter! By the third quarter of 2010, 48% of adults ages 55 and older were retired, down from 50% in the same quarter of 2007. ppl dimensions. In FYE 2021, pensioners had an average income of 361 after housing costs . About two-thirds of people 50 and older (versus less than half of younger adults) see divorce as the best solution when couples cannot resolve marriage issues. Gray Divorce Rate in the U.S.: Geographic Variation, 2017. Not surprisingly, retirement savings decrease as people actually retire and use the funds they've earmarked. 0000006355 00000 n Ting Vit, About Us Get the New Tips & Tools for Retirees New to Retired Pay Adjusting for special items . Well-being of older adults living alone. 0000011848 00000 n NBC News. PPL 21-041 December 8, 2021 | Older People Account for Large Shares of Poll Workers and Voters in U.S. General Elections. Retrieved July 27, 2021, from, Age Started Saving for Retirement by Generation. 0000013101 00000 n Take Advantage of Your FEDVIP Enrollment Period The prior recessions did not disrupt the longer-running trend of rising labor force participation and declining retirement among older Americans that began around 1997. PDF. Identifying the Status of Spouse/Former Spouse SBP Coverage on your Retiree Account Statement (RAS) These folks tend to feel more confident asking for what they want and don't worry about pregnancy scares. Powers of Attorney/Third Party Representatives for Retirees, Powers of Attorney/Third Party Representatives for Annuitants, Survivor Benefit and Arrears of Pay Frequently Asked Questions, The Fiscal Year 2023 National Defense Authorization Act: Survivor Benefit Plan Open Season, Theres Still Time to Get a Head Start on Tax Season, myPay: How to Reactivate Your Account or Get Started, Your Retiree Account Statement (RAS) Shows Your Current SBP Coverage, Click here to download a PDF of the December 2022 Retiree Newsletter, Employment Compensation from a Foreign Government Can Impact Your Retired Pay, Time to Check and Update Your Beneficiary Information, News from Our Partners: Retired Members - Take advantage of your FEDVIP enrollment period, News from Our Partners: Air Force Assistance Fund Campaign 50 Years Of Caring, The SBP-DIC Offset Phased Elimination: What Surviving Spouses Need to Know About Phase Two and Phase Three, The SBP-DIC Offset Phased Elimination: Phase Two is Here, What Surviving Spouses Need to Know: Survivor Benefit Plan (SBP) 2023 Elimination of the Optional Annuity for Dependent Children and Reversion of SBP Annuity to Surviving Spouses, Educating Your Beneficiaries Before Your Final Paycheck AOP, Identifying the Status of Spouse/Former Spouse SBP Coverage on your Retiree Account Statement (RAS), Elimination of Multiple RAS Mailings to Reduce Confusion and Costs, School Cert Season Is Here Again Steps to Take for Your College-Age SBP Child Annuitants, Direct Deposit Information for SBP ChildAnnuitants Turning 18, News from OurPartners: Change in Temporary Guidance for USID Cards, News from Our Partners: Air Force Assistance Fund Kicks Off Annual Campaign for Charities, News from Our Partners: Recently Retired from Service? Take Advantage of Your FEDVIP Enrollment Period %PDF-1.7 % Known for its white sand beaches, palatial estates, golf, and watersports, there's something for all retirees here. CRDP/CRSC Open Season - Frequently Asked Questions Tagalog To be held at the Pharma Packaging and Labelling (PPL) Conclave 2022, the PPL Leadership Awards will honour innovation and excellence in the field of packaging. 2021 Tech Trends and the 50-Plus. - Choose a higher resolution at that scale for better quality. What prompts people to start saving for retirement?28, Age people started saving for retirement29, Self-employed conscious of need to save for retirement30, Retirement savings not on track for many25, How much money the different age groups have saved for retirement31. ALLENTOWN, Pa., Nov. 4, 2021 /PRNewswire/ -- PPL Corporation (NYSE: PPL) on Thursday (11/4) announced third-quarter 2021 reported earnings (GAAP) of $207 million, or $0.27 per share,. Based on the increase in the Consumer Price Index, there is an 8.7 percent COLA for most retired pay and Survivor Benefit Plan annuities. (2017). The retirement rate increased for older adults living in metropolitan areas (2 points) andalso increased for older adults in rural areas (1 point). Local Education Agency Medi-Cal Billing Option Program (LEA BOP) notification of opportunities for COVID-19 testing in schools and the impact on local educational agency LEA BOP reimbursement. Retrieved July 27, 2021, from, Wilson, Chris. However, you can become a full AARP member at age 50. AmeriCorps. Other desirable attributes, in decreasing order of importance, include emotional intimacy, empathy, loyalty, physical intimacy, sexual attraction, and common interests. In contrast, household wealth has been rising since the onset of the pandemic. It's less than the $48,048 for homemaker services and the $50,336 for home health aides, Not many homes are sufficient for aging in place.