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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 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.
The Los Angeles County Employees Retirement Association ( LACERA) is an independent Los Angeles County agency that administers and manages the retirement fund for the County and outside Districts (Little Lake Cemetery District, Local Agency Formation Commission for the County of Los Angeles, Los Angeles County Office of Education, and South Coast Air Quality Management District ). [3] In 2012 ...
The private sector was first to cut back on retiree health care benefits, but the public sector has also made major reductions. Around 49% of state government employers offered health care to ...
It provides defined benefit plans to the county and other local agencies. The association is a system that provides retirement benefits to employees of Contra Costa County and 16 participating public employers located within the county.
Social Security's latest Trustee Report shows benefit cuts could be smaller and could happen later than anticipated. Learn more here.
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