Retirement in America Essay Example | Topics and Well Written Essays - 2250 words

Retirement in the States - Essay Example6). The point where an individual discontinues his employment completely, which is called seclusion, makes i entitled for private or public pension benefits and the notion of privacy in the States has changed everyplace the years. In a historical survey of retreat in the States, one comes to recognize that the notion of retirement assumed a great impact on America after World War II and it has undergone essential changes ever since. Unlike the earlier days, there is an emergent notion in America like a shot that retirement is the beginning of a late and busy chapter of life, a time for continued learning and development, learning building, forming new and purposeful relationships, and giving back to the community Moreover, retirement is a time to begin a new chapter in life and that, just beyond traveling, volunteering is what older adults look forward to most during this new defend of their life (Johnson, 2003, p. vi). Therefore, the n otion of retirement in America has changed over the years and the well-being of individuals after retirement is considered as one of the study(ip) responsibilities of the state and the government. Significantly, in the contemporary life of the Americans, retirement in America can effectively offer one of the best periods of life through careful and sensible planning. In this paper, a reflective analysis of retirement in America is offered in order to determine how it has changed from the past, how it entrust change in the future, which all are the major organizations doing to retirement plans for their employees, and whether employees can retire in America at 62, 67, or will they need to be older etc. Retirement in AmericaIn the United States, retirement has been a topic of constant changes over the past several decades - including the incidental attitudes of the people towards retirement, the provisions by the law, Social Security issues, the sequence of retirement, and some o ther crucial aspects concerning retirement. One of the major responsibilities of the social security programs in America has been to ensure that the individuals who dedicate dedicated their service and potential to the harvest-tide of the society are offered the best security programs during their period of old age. Social security has traditionally unite the goals of earnings replacement and income maintenance and the American Social Security system has played a major role in financing retirement. Despite much criticism, the American Social Security system whole kit fairly well, but only if you consider Social Security payments a handy supplement to other sources of retirement income. Many people who were young when the Social Security system began in the 1930s placed besides much reliance on it and were forced into difficult financial circumstances in their old age because of inflation. By the 1970s the government began a comprehensive program of tax incentives for various oth er retirement funds. private Retirement Accounts (IRAs), Keogh Plans, and 401(K) plans are some examples. (Financing Retirement, 2007). Therefore, the American Social Security system has contributed heavily to the great changes that have taken place in retirement in America and it is possible that further changes in retirement take place in the future. In America, the rise of retirement started more than a century ago, hostile the commonly conceived notion that it was with