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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.
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.
For a long time, the Social Security Trustees have been warning that the retirement benefits system is facing some future financial hardships. Specifically, Social Security is paying out...
The Federal Employees' Retirement System (FERS) is the retirement system for employees within the United States civil service. FERS became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector. FERS consists of three major components:
With scores of pension plans on a path toward failing entirely, cutting pension benefits now could allow the plans to survive longer, benefiting current workers and relatively new retirees at the ...
Farmington Retirees Ask Officials to Change Benefits Former administrators ask officials to reconsider moving Medicare-eligible employees to a Medicare Advantage plan.
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%.
Employee Benefit Research Institute (EBRI) is a nonpartisan, nonprofit research organization based in Washington, D.C., that produces original research about health, savings, retirement, personal finance and economic security issues, including 401(k) and retirement plan coverage data, post-retirement income adequacy, health coverage and the ...
The Pennsylvania State Employees’ Retirement System (also known as SERS or Pen SERS) is an independent administrative board of the Commonwealth of Pennsylvania that manages the public pension system for state employees in Pennsylvania.