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Local Funding. Local plans are slightly better funded than statewide plans in the US. Local plans are 78.2% funded in 2022, compared to 77.8% for statewide plans. However, the historical funding trends of municipally-managed plans are similar, if not identical to statewide plans.
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 latest Trustees Report indicates the Social Security retirement trust fund will run out of cash by 2033 if Congress doesn't do anything. That could lead to some big changes in the near future.
The Civil Service Retirement System (CSRS) is a public pension fund organized in 1920 that has provided retirement, disability, and survivor benefits for most civilian employees in the United States federal government.
Around 55% of employees around the world say they would put in less effort at work if their employer eliminated a needed benefit, according to the Pulse of Talent report released by Dayforce, a ...
Retirees get another year's reprieve until benefit cuts happen, or until Congress is forced to act. And, if benefit cuts do happen, they'll be smaller than anticipated.
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