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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).
DC plans differ from defined-benefit (DB) plans, or pension plans, which are managed by a professional and guarantee income in retirement. Defined-contribution plans may require an employee to opt ...
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.
United States Supreme Court cases. List. 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.
Checking these five items off your retirement savings to-do list can help you prepare for a comfortable retirement years down the road. 1. Determine your retirement savings goals. The first step ...
Kerry: More than two decades ago, employers began to quit offering traditional defined-benefit pensions and substituted 401 (k) retirement plans that employees contributed to themselves with a ...
Civil Service Retirement System. 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.
Here are five ways to make the most of your time before retirement. 1. Know Your Health Insurance Options. There are quite a few decisions to make as you near retirement, and what to do about your ...
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 ...
Nearly half of all retirees report their expenses in retirement are higher than they expected, according to a survey from investment manager Schroders.