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Through the Mayor's Office of Pensions and Investments, the Department of Finance also advises the Administration on the City's $160 billion pension system and $15 billion deferred compensation plan.
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 Human Resources Administration or Department of Social Services (HRA/DSS) is the department of the government of New York City in charge of the majority of the city's social services programs. HRA helps New Yorkers in need through a variety of services that promote employment and personal responsibility while providing temporary assistance ...
The New York City Department of Citywide Administrative Services (DCAS) is a City of New York government agency. Its mission is to make city government work for all New Yorkers. It is responsible for: Recruiting, hiring, and training City employees. Managing 55 public buildings.
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 .
Every year the Social Security Administration adjusts retirees' benefits amounts by the average increase in inflation during the third quarter of the previous year. The 2024 COLA was 3.2%.
The benefits that BERS provides include service retirement benefits, disability retirement benefits, death benefits, and a Tax-Deferred Annuity (TDA) program. Members are employed in agencies such as the Department of Education, the School Construction Authority, and the Police Department.
The New York City Mayor's Office of Management and Budget (OMB), formerly New York City Office of Management and Budget, is the New York City government's chief financial agency, organized as part of the New York City Mayor's office. OMB staff, under the direction of the Mayor and the Budget Director, assemble and oversee the expense, revenue ...
New York state public-benefit corporations and authorities operate like quasi-private corporations, with boards of directors appointed by elected officials, overseeing both publicly operated and privately operated systems.
District Council 37 (also known as DC37) is New York City's largest public sector employee union, representing over 150,000 members. It’s important to note that DC37 may not represent retirees, because the Taylor Law prohibits public sector unions from negotiating on behalf of retirees in New York State.