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Early-Retirement Benefits

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Early-Retirement Benefits
The benefits from a pension or government program one receives after early retirement. Most pensions and government programs pay benefits based on how much an individual contributes to the system during his/her working life. That is, people who work longer (and/or earn more) contribute more than those who do not. As a result, early-retirement benefits are usually less than benefits for those who retire at full age.


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Phelps Dodge expects to record a special, net after-tax loss on the transaction of approximately $20 million, which includes the sale of approximately 25 million pounds of copper from Phelps Dodge to Rea valued at an inventory cost of approximately 80 cents per pound, which will be priced at closing, and costs for severance and early-retirement benefits.
In Beckmann it held that early-retirement benefits paid on redundancy to those under the normal retirement age aren't old-age benefits under the exemption.
 
 
 
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