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Bus stops would be consolidated for faster service, and existing bus stops would be improved with bus shelters and real-time travel information. [88]: 37 To get the MTA to work more efficiently, employee communications, processes, and hierarchies would also be reorganized.
An Employee Stock Ownership Plan (ESOP) in the United States is a defined contribution plan, a form of retirement plan as defined by 4975(e)(7)of IRS codes, which became a qualified retirement plan in 1974.
As a result, a state may not "deem" that an employee benefit plan is an insurance plan in an effort to sidestep preemption if the benefit plan would not otherwise meet the requirements as an insurance company or contract. The "deemer" clause therefore restricts the use of the "savings" clause to conventionally insured employee benefit plans. [20]
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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.
MTA Regional Bus Operations (RBO) is the surface transit division of the Metropolitan Transportation Authority (MTA). It was created in 2008 to consolidate all bus operations in New York City operated by the MTA.
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Most new federal employees hired on or after January 1, 1987, are automatically covered under FERS. Those newly hired and certain employees rehired between January 1, 1984, and December 31, 1986, were automatically converted to coverage under FERS on January 1, 1987; the portion of time under the old system is referred to as "CSRS Offset" and only that portion falls under the CSRS rules.