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The night before December 31, 1967, the NYCTA and the TWU made an agreement to avoid a strike. The deal gave NYCTA workers the ability to retire with about half-pay after twenty years if the employee was over fifty years old. This would later cause problems, as large numbers of transit workers would retire to take advantage of these benefits.
Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns.
[123] [124] In 1993, MTA started testing the MetroCard, a magnetic stripe card that would replace the tokens used to pay fares. [125] By 1997, the entire bus and subway system accepted MetroCard, [126] and tokens were no longer accepted for fare payment in 2003. [123] [124] A different fare payment system is used on the LIRR and Metro-North.
The Public Employees ... The penalties for striking is an additional day of pay for each day of a strike, totaling two days' loss for each strike day, removal of the ...
Retirees can increase their benefit 77% by claiming Social Security at age 70 Retired workers should have a clear understanding of how age-based benefit reductions and increases are calculated.
As shown above, the average Social Security benefit tends to increase with age, such that the average 70-year-old retiree receives an additional $757 in monthly benefits compared to the average 62 ...
UN pension is a retirement benefit provided to people who have worked directly for the United Nations organization. It is provided through the United Nations Joint Staff Pension Fund (UNJSPF) under Article 28 [1] of the Regulations, Rules and Pension Adjustment System of the United Nations Joint Staff Pension Fund (UNJSPF Rules).
Railroad retirement benefit payments are financed primarily by payroll taxes paid by railroad employers and their employees. Since 2002, funds not needed immediately for benefit payments or administrative expenses have been invested by an independent National Railroad Retirement Investment Trust, which qualifies as non profit 501(c)(28) .