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Employed Persons
Categories: Economics,
The employed comprise all persons above a specified age who during a specified brief period, either one week or one day, were in the following categories:(a) paid employment:- at work: persons who during the reference period performed some work for a wage or salary, in cash or in kind; - with a job but not at work: persons who, having already worked in their present job, were temporarily not at work during the reference period and had a formal attachment to their job. This formal attachment should be determined in the light of national circumstances, according to one or more of the following criteria: the continued receipt of wage or salary; an assurance of return to work following the end of the contingency, or an agreement as to the date of return; the elapsed duration of absence from the job which, wherever relevant, may be that duration for which workers can receive compensation benefits without obligations to accept other jobs; (b) self-employment - at work; persons who during the reference period performed some work for profit or family gain, in cash or in kind;- with an enterprise but not at work: persons with an enterprise, which may be a business enterprise, a farm or a service undertaking, who were temporarily not at work during the reference period for any specific reason. For operational purposes the notion of some work may be interpreted as work for at least one hour.
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Definition / Meaning of
Systematic Withdrawal
Categories: Mutual Funds, Investing and Trading, Stocks,
Systematic withdrawal is a method of receiving income in regular installments from your mutual fund accounts, retirement plans, or annuity contracts. Generally, you decide how much you want to receive in each payment, and the schedule on which you want to receive the income. Those payments continue until you stop them or you run out of money. Unlike the alternatives, such as a pension annuity, systematic withdrawal gives you the flexibility to stop payments at any time, adjust the amount you receive, or choose a different way to access your money. And by withdrawing the same amount on a regular schedule, you limit the risk of taking a large lump sum at a time when your account value has dropped because of a market decline.The chief drawback of this withdrawal method is that there's no guarantee of lifetime income, so it's possible to deplete your account more quickly than the rate at which it's growing. That could mean running out of money.After you reach 70 1/2, you can use systematic withdrawals as a way to ensure you take out the minimum required distribution (MRD) from qualified retirement accounts and IRAs to avoid the risk of incurring IRS penalties.
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