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The Metropolitan Transportation Authority (MTA) is a public benefit corporation responsible for public transportation in the New York City metropolitan area of the U.S. state of New York.
Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering . Retirement age in the public sector is usually lower than in the private sector.
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.
Employee Retirement Income Security Act. An Act to provide for pension reform. 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.
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.
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