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Some local governments do not offer defined-benefit pensions but may offer a defined contribution plan. In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS).
The Metropolitan Transportation Authority ( MTA) is a public benefit corporation responsible for public transportation in the New York City metropolitan area of the U.S. state of New York.
The Federal Employees' Retirement System ( FERS) is the retirement system for employees within the United States civil service. FERS [1] 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.
The TSP is one of three components of the Federal Employees Retirement System (FERS; the others being the FERS annuity and Social Security) and is designed to closely resemble the dynamics of private sector 401 (k) and Roth 401k plans (TSP implemented a Roth option in May 2012).
Under the PBGC, certain former workers whose benefits fall above a maximum benefit level have seen their payments cut, but many have gotten full restoration of their pensions.
Thousands of North Carolina teachers and state employees will be getting a different insurance company to administer their health plan starting in 2025, the state treasurer announced Wednesday.
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