Define Trust Fund
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Jacob Said:
When must an employer distribute pension funds to a terminated employee from a defined benefit trust?We Answered:
This all depends on the plan document and the present value ("today's price" for all future payments, which varies dramatically with your age). If the present value is more than a certain dollar amount, you may have to wait until the plan's "Normal Retirement Age". If it's below a certain threshold (I believe it's $5,000 but I'm not 100% sure there), they MAY to cash you out. You have a right to a copy of the plan document under federal law ("ERISA"). They have a right to charge you a reasonable fee for copying charges. You'll have to look at the document to see the plan's provisions. But your HR department should be able to answer this for you. Hope this helps.Carmen Said:
Why does Hillary call an "excess profit tax" enforced by full force of law by men with guns, a "promotion?"We Answered:
I took 2 years of acounting in college and I never heard the term excess profits....it sounds like an oxymoron to me....why the hell is it exxons problem what we are going to do about alt fuel sources...tehy are a damn oil company who has been supplying the world and america it's fuel for the last 50 years...Marie Said:
Here's your choice: Enforced immigration laws & a border fence . . . or . . . Social Security benefits.?We Answered:
Those arguments are based on false premises. This is a dumb argument, and it is a pity some people (like some of our particularly stupid Sens & Reps!) fall for this errant nonsense.1. The number of US births per year have been higher every year since the early 1980s than they were at the height of the Baby Boom. So we are producing more future workers than will retire. In fact, we have to produce 2 million NET new jobs per year each year for this decade just to provide work for the "Boomlets" entering the workforce. Next decade, we still need to create 1 million to 2 million NET new jobs per year to keep workforce entrants employed.
2. A glut of labor reduces wage rates and increases unemployment at the same time it increases demand and costs (tax dollars). Therefore, at lower wages, people are paying in LESS to Social Security.
3. Increased immigration (legal, that is) increases the number of future recipients of Social Security & of Supplemental Security Income. In fact, it is increasing the number of current recipients because we are finding that more immigrants go on SocSec after paying in less for a shorter period. E.g. Say an immigrant enters the US & the SocSec system at age 30; the American college grad has already been paying in for nearly a decade, the HS grad for more than a decade. The immigrants coming in at age 50+ are barely paying in enough to qualify, but they are collecting. And immigrants have a higher rate of going on disability at younger ages than US-born citizens do
Like a dog chasing its tail, your proposals are creating an ever more top-heavy system that has to collapse under its own weight. The way SocSec was set up is a Ponzi Scheme because it relies on geometrically increasing population. But a geometrically increasing population has to crash, economically, socially, & physically.
The WORST thing we can do to SocSec is to increase immigration! It guarantees a bigger and more devastating collapse of the system.
Diane Said:
The young and the restless spoiler.?We Answered:
Not complaining because I love your spoilers, but why sometimes do you end it with an incomplete sentence at the end and leaving us hanging?You do know if you run out of room you can just edit it and add more under additional details, right?
Or is your plan to keep us all guessing?
Seriously though, I do love your spoilers and these are some great ones!
Thanks!
Darryl Said:
When will people understand socialism in the US?We Answered:
As the government grows more powerful and the people grow poorer and poorer through wealth redistributon, there will come a point what the people think will not matter at all.Mario Said:
define a trust fund?We Answered:
If a trust has actually been set up, it names a trustee and spells out what is to be done, and how, and the limits of the trustee's power. I take it you are the trustee. Do you have power not only for financial decisions, but also for health decisions? Be sure you have HIPAA forms signed by the relatives, or you may not be able to get the information you need to make reasonable decisions.Although you don't have to consult an attorney, you may want to hire an elder care attorney (specialist) for an hour or 2 to get your bearings.
If you only have a power of attorney, you may want to look into getting a living trust set up so the rules about their wishes are clear. These usually come in a kit with powers of attorney for financial and health issues, pour over wills, health care directives, and maybe other forms as your state or the estate owners choose. Otherwise, you may need to get a guardianship for them later, which is a more involved (and usually more costly) process.
If things are set up properly, you just have to do what your relatives have put into writing and you don't have that many tough decisions to make.