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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.
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). 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 .
www.dol.gov/agencies/ebsa. 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).
Every year the Social Security Administration adjusts retirees' benefits amounts by the average increase in inflation during the third quarter of the previous year. The 2024 COLA was 3.2%.
A new survey from AARP laid out some hard truths about Americans approaching retirement age. One-fifth of adults 50 and older have no retirement savings, and more than half (61%) are worried...
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.
Medicare is a federal health insurance program in the United States for people age 65 or older and younger people with disabilities, including those with end stage renal disease and amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). It was begun in 1965 under the Social Security Administration and is now administered by the Centers ...
Joliet Scales Back City Employee Pension Benefits - Joliet, IL - The new policy comes on the heels of several Joliet Patch articles examining generous payouts for outgoing city staff.
Using 2000-2024 estimates, the annual hike in the average monthly benefit of all retired-worker beneficiaries was 3.53%. At this pace, the benefit could jump 23% to $2,348 by January 2030.
SSA administers the retirement, survivors, and disabled social insurance programs, which can provide monthly benefits to aged or disabled workers, their spouses and children, and to the survivors of insured workers.