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Here are the unseen financial and emotional benefits and costs with each option.
If you're terminated before your official retirement date, you have a few options. To start, though, you may want to consider talking with a tax advisor before making any withdrawals from your 401 ...
Some readers asked what "subsidy" employers get from 401(k) advisors and mutual fund families. Here's the way it works. Brokers and fund families (with few exceptions) make.
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
While the main formal term for ending someone's employment is "dismissal", there are a number of colloquial or euphemistic expressions for the same action. "Firing" is a common colloquial term in the English language (particularly used in the U.S. and Canada), which may have originated in the 1910s at the National Cash Register Company. [2]
“People in this situation may think about taking a career change, opening a business or taking a part-time job and using retirement income to make up the difference in income needs,” says Czajka.
The Employment Rights Act 1996 regulates this by saying that employees are entitled to a fair reason before being dismissed, based on their capability to do the job, their conduct, whether their position is economically redundant, on grounds of a statute, or some other substantial reason. It is automatically unfair for an employer to dismiss an ...
There's never a good time to be fired or laid off from your job, but it's especially painful during the holidays. Not only does losing your job put a damper on an otherwise festive season -- it ...