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The Michigan Public School Employees' Retirement System (MPSERS) collects and compiles employee wage, contribution, and service information from approximately 549 K-12 districts, 46 public school academy/charter schools, 7 universities, 28 community colleges, 55 intermediate school districts, and 10 libraries.
House Bill 6060 deals specifically with the Public School Employees Retirement Act, allowing newly-hired employees and current employees to opt into a defined benefit plan.
Whitmer officials argued that school districts will still have more money to spend in 2025 than they did in 2024, because their required contributions to the school employees' retirement plan will ...
The background of this letter goes back to 2011, when, due to financial decisions made by previous legislators, a fund part of the Michigan Public School Employees’ Retirement System was under ...
The Office of Retirement Services (ORS) administers defined benefit, defined contribution, hybrid, and deferred compensation retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard. Plans for over 550,000 public servants and their families, representing 1 in 9 Michigan households.
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
This list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
The Michigan Legislature also finalized legislation to make school district pension savings permanent, freeing up money to spend on other priorities. Michigan Dems mend fences with school leaders ...