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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.
According to a county news release, the “unprecedented decision” was made with more than 3,000 Essex County employees’ and retirees’ best interests in mind, and was “an effort to save ...
Public employee pension plans in the United States. In the United States, public sector pensions are offered at the federal, state, and local levels of government. They are available to most, but not all, public sector employees. These employer contributions to these plans typically vest after some period of time, e.g. 5 years of service.
The Employee Retirement Income Security Act of 1974 ( ERISA) ( Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal income tax effects of transactions ...
According to the 2024 Social Security Trustees Report, the trust fund supporting Social Security retirement benefits (The Old-Age and Survivors Insurance (OASI) Fund) is expected to be able to ...
According to research released in 2024 by the Social Security Administration (SSA), these benefits account for about 30% of the average income of people over 65.
The Employee Benefits Security Administration (EBSA) is an agency of the United States Department of Labor responsible for administering, regulating and enforcing the provisions of Title I of the Employee Retirement Income Security Act of 1974 (ERISA). At the time of its name change in February 2003, EBSA was known as the Pension and Welfare ...
A COLA of 3.2% would raise the average monthly retiree benefit of $1,790 by $57.30. That’s a huge drop from this year’s 8.7% COLA , which pushed the average monthly check up by about $146. The ...
Collect and Analyze Data. More and more employers are using analytics to help design their benefits packages. Anyone can do this -- you don’t need to have 1,000-plus employees to derive ...
The Drug Enforcement Administration was established on July 1, 1973, by Reorganization Plan No. 2 of 1973, signed by President Richard Nixon on July 28. It proposed the creation of a single federal agency to enforce the federal drug laws as well as consolidate and coordinate the government's drug control activities.