The wife and I retired in January from the same place. We had the option of taking all of our sick time and vacation time as a lump sum or to continue to receive out paychecks until the accrued time is exhausted. We both had over 1000 hours each. We chose option 2 because we can continue to stay on the employee insurance plan during this time and its quite a bit cheaper than what we will be paying later on.
All deductions, except taxes and insurance, were automatically stopped when we retired including our 457 contributions. I will call our employer on Monday and ask about their policy but is there any law saying we cant contribute to our 457 any longer? Also, we can still contribute to our Roth IRAs correct? I assume this money is earned income?
All deductions, except taxes and insurance, were automatically stopped when we retired including our 457 contributions. I will call our employer on Monday and ask about their policy but is there any law saying we cant contribute to our 457 any longer? Also, we can still contribute to our Roth IRAs correct? I assume this money is earned income?