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The legislation would eliminate a provision that cuts Social Security payments to some retirees who also collect a pension from jobs not covered by the retirement program. That includes state and ...
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The retirement fund is a defined benefit type pension plan and was only partially funded by the government, with only $268.4 million in assets and $911 million in liabilities. The plan experienced low investment returns and a benefit structure that had been increased without raises in funding. [29]
Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
VTDigger is an investigative online newspaper that reports on the state of Vermont in the United States. [1] Founded in September 2009 by Anne Galloway, the newspaper has grown to have an average monthly audience of 650,000 [2] and won numerous awards for its coverage of matters of statewide significance, including the flooding in July 2023.
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The Burlington Free Press (sometimes referred to as "BFP" or "the Free Press") is a digital and print community news organization based in Burlington, Vermont, and owned by Gannett. It is one of the official "newspapers of record" for the State of Vermont.