What do employers need to consider regarding retirement?
The federal Employee Retirement Income Security Act (ERISA) and
the requirements of the Social Security and Medicare systems are the major
laws that affect the retirement process. In addition, the federal Age
Discrimination in Employment Act (ADEA) necessitates that the entire
retirement process be monitored to avoid age discrimination.
With individuals over age 65 becoming a larger segment
of the population, their financial needs in retirement are a major national
issue. Preretirement planning is crucial assistance that can help retirees
achieve financial security. The aging of the workforce, along with financial
issues from the economic downturn, are resulting in employees delaying retirement,
returning to work after retirement, or using
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