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South Carolina state employees can expect a pay raise of $2,500 or 5%, whichever is higher, state budget writers have decided. With $800 million in additional money available to disburse in what ...
State pension plans are facing a massive $1.4 trillion funding gap, according to a new analysis from the Pew Charitable Trust. Pension liabilities in all 50 states increased by $295 billion to ...
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
New York State Teachers: $115,637 $115,637 94.2% 7.5% 8 State of Wisconsin Investment Board: $109,960 $105,155 N/A N/A 9 North Carolina Retirement: $106,946 $96,094 88.3% 7.3% 10 Washington State Investment Board: $104,260 $86,615 85.5% 7.7% 11 Ohio Public Employees Retirement System: $97,713 $96,304 80.2% 7.5% 12 New Jersey Division of ...
South Carolina has had a long history of accounting issues. The Treasurer’s Office was created when the state’s first constitution was written in 1776. Back then, the General Assembly selected ...
In contrast, the percentage of workers covered by a defined contribution (DC) pension plan has been increasing over time. From 1980 through 2008, the proportion of private wage and salary workers participating in only DC pension plans increased from 8% to 31%. Most of the shift has been the private sector, with few changes in the public sector.
The House plan included a $1,000 raise or 1.5% for anyone earning more than $66,667 year. The Senate proposed a $1,375 or a 2.75% pay increase. The Senate proposed a $1,375 or a 2.75% pay increase.
It has local affiliates in each of the state's 81 public school districts. [4] As the state affiliate of the National Education Association--the largest labor union in the United States [5]-- The SCEA is the only union for educators and public school employees in South Carolina. The SCEA regularly comments on state-level educational issues and ...