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During the 2005 transit strike, both the strikers and the MTA violated portions of the Taylor Law. Section 210 states that the workers are not allowed to strike; Section 201, Part 4, states that employers are not allowed to negotiate benefits provided by a public retirement fund or payment to a fund or insurer to provide an income for retirees.
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
Since the Second World War, the baseline of military retirement has been the 20-year retirement. [6] Under such a program, service members have been eligible for retirement payments after 20 years of active duty. [7] [8] Service members received a defined benefit payment upon retirement, payable until the death of the beneficiary. The benefit ...
Employees hired after 1983 are required to be covered by the Federal Employees Retirement System (FERS), which is a three tiered retirement system with a smaller defined benefit (pension), Social Security, and a 401(k)-style system called the Thrift Savings Plan (TSP). The defined benefits of both the CSRS and the FERS systems are paid out of ...
The General Overhaul Program (GOH) was a mid-life overhaul program for neglected subway cars, which involved a thorough rebuilding of the fleet. Since the completion of the GOH program, the new Scheduled Maintenance System (SMS) program has replaced the GOH program by ensuring that trains do not reach a state in which they would need such an overhaul.
Therefore, it was the nation's second largest public purchaser of health benefits, [6] behind the FEHBP which covered "about 8 million federal employees, retirees, and their dependents". [169] Of the enrollees, 59% are state employees and 41% are local government and school employees; 68% are working and 32% are retired. [6]