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The PFRS board oversees the $2.8 billion fund serving about 8,000 retired police and fire and approximately 3,000 active duty first responders. Dana Afana is the Detroit city hall reporter for the ...
A struggling union pension fund for more than 22,500 metro Detroit carpenters and millwrights is getting a $635 million federal bailout, saving retirees from big cuts to their pension checks next ...
The Police and Fire Retirement System's board oversees the $2.7 billion fund serving some 8,000 retired police and fire and approximately 3,000 active duty first responders.
Many U.S. cities are allowed to participate in the pension plans of their states; some of the largest have their own pension plans. The total number of local government employees in the United States as of 2020 is 14.3 million. There are 11.1 million full-time and 3.1 million part-time local-government civilian employees as of 2020. [16]
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.
$15.41 million to Dentons US LLP, a law firm that acted on behalf of an official committee of city retirees fighting pension cuts; $980,000 went to two Detroit mediator firms; Furthermore, the two pension funds paid attorneys at Clark Hill $6.25 million and financial advisers at Greenhill & Co. $5.71 million to fight the bankruptcy case.
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Later, she became a public school teacher in the San Francisco Bay Area, paying into CalSTRS, California's educator pension fund. However, her plans for retirement took an unexpected turn when she ...