Chapter 36: Retirement and Wills

The federal government administers social security, railroad pension, military pensions, and civil service pensions. Social security provides income to people when their regular income stops because of retirement, disability, or the death of someone who had provided them with income. A pension plan is a retirement plan that is funded in part by an employer. A will is a document that is signed during your lifetime that provides for the distribution of your property when you die. As you study this chapter, you will learn that although retirement and death seem along way away, it is important to begin preparing now for those events.

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