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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 .
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.
MTA employees also suffered due to the budget issues. By mid-July 2010, MTA layoffs had reached over 1,000, and many of those affected were low-level employees who made less than $55,000 annually. As of 2015, the MTA was running a $15 billion deficit in its $32 billion 2015–2019 Capital Plan.
One solution for some workers: investment options that provide guaranteed retirement income in their employer-provided retirement plan.
Here’s how to invest your money after retirement so it can continue to last you through your golden years. 1. Calculate your retirement expenses. When you were saving for retirement, you were ...
See our editor's picks for best savings, checking and hybrid accounts for active agers, seniors and retirees, updated for June 2024.
The Association of BellTel Retirees, Inc. advocates for more than 205,000 Bell Atlantic, NYNEX, GTE, MCI, Idearc Media|Idearc/SuperMedia, and Verizon union and management retirees. The association represents active Verizon employees regarding retiree issues such as cash balance plan conversions and termination of management pension and ...
School District 62 has a long-standing tradition of honoring employees who have achieved twenty-five years of service and are retiring. Ten 25-year employees and three retirees were honored at a ...
The retirement payouts for unused sick, vacation and comp time nest eggs for Joliet employees come at a time when a larger percentage of the city's operating budget is going for employee salaries ...
A COLA of 3.2% would raise the average monthly retiree benefit of $1,790 by $57.30. That’s a huge drop from this year’s 8.7% COLA , which pushed the average monthly check up by about $146. The ...