retirement

March 9, 2021 | Maryam Shahzad

Silver Spring Senior Community Vaccinates 96% of Residents

A senior living community in Silver Spring shared that every resident who wanted a COVID-19 vaccine has received both doses. 96% of residents at Riderwood Senior Living Community have been vaccinated, according to a March 4 release.  “We got the shots because we care about our neighbors and want to see more of them,” said […]

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January 26, 2021 | Suzanne Pollak

After 50 Years at Clarksburg Gas Station, Anna Mae Smith Says Goodbye to Co-Workers, Customers

Anna Mae Smith is so humble that the day following her retirement, which included a neighborhood drive by send off, she wanted to make sure everyone knew she was retiring from Clarksburg Liberty gas station after 50 years, not 51. “They keep saying 51,” the 70-year-old Hyattsville resident told MyMCM. Smith has been a cashier, […]

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January 14, 2021 | Deirdre Byrne

MCPS Superintendent Jack Smith to Retire June 1

Montgomery County Public Schools announced Thursday that Superintendent Jack Smith will retire effective June 1. Smith has served as superintendent for MCPS since July 2016 and is currently one year into his second term. Before joining the MCPS community he had worked as a lifelong educator as a teacher, principal, and former interim state superintendent […]

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January 4, 2021 | Juanita Farmer, CPA

Blog: Retirement Contributions Limits Announced for 2021

Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2021 are as follows: 401(k), 403(b), 457 plans, and Thrift Savings Plan. Contribution limits for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $19,500. The catch-up contribution limit for employees […]

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December 1, 2020 | Juanita Farmer, CPA

Blog: Individual Retirement Arrangements: Terms To Know

While many taxpayers already know about Individual Retirement Arrangements, or IRAs, and have set up an IRA with a bank or other financial institution, a life insurance company, mutual fund or stockbroker, there are other taxpayers such as those new to the workforce who may not understand how IRAs help them save for retirement. With […]

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November 19, 2020 | Suzanne Pollak

After 30 Years as Teacher, Principal, Board of Education Member, Dixon Looks Back, Ahead

After 30 years as a teacher and principal at Montgomery County Public Schools and then four years as a member of the Board of Education (BOE), Jeanette Dixon is moving on. She spoke with Montgomery Community Media about her time on the board and her years in education. Dixon is proud of her service but […]

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November 2, 2020 | Juanita Farmer, CPA

Blog: Choosing a Retirement Destination: Tax Considerations

With health care, housing, food, and transportation costs increasing every year, many retirees on fixed incomes wonder how they can stretch their dollars even further. One solution is to move to another state where income taxes are lower than the one in which they currently reside. While federal tax rates are the same in every […]

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September 21, 2020 | Juanita Farmer, CPA

Blog: Preparing for a Successful Retirement

As you approach retirement, it’s vital that you pay attention to several important financial matters to ensure a smooth transition. Here are five of them: 1. Health Insurance Are you among the lucky few who will continue to be covered after retirement? If not, then you’ll need to replace your health coverage. If you will […]

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July 28, 2020 | Juanita Farmer, CPA

Blog: Retirement Accounts: Rollover Relief for RMDs

Generally, taxpayers must begin taking a required minimum distribution (RMD) from a defined-contribution retirement plan, including a 401(k) or 403(b) plan, or an IRA when they reach age 72 (70 1/2 if they reached 70 ½ before January 1, 2020). The RMD for any year is the account balance as of the end of the […]

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July 25, 2020 | Emma Shuster

Gaithersburg Native Logic Retires, Drops New Album, Focuses on Fatherhood

One week after officially announcing his retirement at the age 30, Montgomery County native Sir Robert Bryson Hall II, better known to his fans as “Logic,” dropped his sixth and final album, “No Pressure.” The rapper explained how he plans to use his newfound time to focus on fatherhood.  He tweeted, “It’s been a great […]

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