Search results
Results from the Go Local Guru Content Network
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering .
The Federal Employees' Retirement System (FERS) is the retirement system for employees within the United States civil service. FERS became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector. FERS consists of three major components:
The Michigan Office of Retirement Services (ORS) administers retirement programs for Michigan 's state employees, public school employees, judges, state police, and National Guard. ORS also provides various retiree healthcare benefits, including traditional insurance plans, Personal Healthcare Funds, and Health Reimbursement Accounts.
Starting next year, retirees must start taking required minimum withdrawals, or RMDs, from their tax-advantaged retirement accounts when they turn 73. That's up from 72 this year.
The median income, the middle value in a sorted list, shows that half the retirees earn more and half earn less than $47,620. This offers a realistic glimpse into the typical retiree's...
Public employee pension plans in the United States. 401 (k) 403 (b) - Similar to the 401 (k), but for educational, religious, public healthcare, or non-profit workers. 401 (a) and 457 plans - For employees of state and local governments and certain tax-exempt entities.
In other words, people might be more apt to claim their Social Security benefits at age 62, the earliest possible age, rather than delaying until full retirement age, which ranges from 66 to...
The Civil Service Retirement System (CSRS) is a public pension fund organized in 1920 that has provided retirement, disability, and survivor benefits for most civilian employees in the United States federal government.
For a long time, the Social Security Trustees have been warning that the retirement benefits system is facing some future financial hardships. Specifically, Social Security is paying...
A traditional pension plan that defines a benefit for an employee upon that employee's retirement is a defined benefit plan. The most common type of formula used is based on the employee's terminal earnings (final salary).