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Jharkhand Rajya Gramin Bank [1] (JRGB) is a Regional Rural Bank (RRB). The bank was established on 1 April 2019 with the amalgamation of the erstwhile Vananchal Gramin Bank and erstwhile Jharkhand Gramin Bank under the provisions of RRB Act 1976. It is under the ownership of Ministry of Finance, Government of India.
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.
The Department of Appointment and Personnel of the Government of Jharkhand is the cadre-controlling authority of the service. Along with the Provincial Police Service (PPS) and the Provincial Forest Service (PFS), the PCS is one of the three feeder services to its respective All India Services .
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.
The pension expenditure of Central Government in 1990-91 was 0.38 per cent of GDP and 3.9 per cent of net revenue amounting to 2,138 crores. [13] In 1993-94, the pension liability jumped to 0.6 per cent of GDP at 5,206 crores. [14] The pension cost for exchequer was growing at a CAGR of 21% per annum in the 1990s.
Pension Administration firms often rely on financial brokers (or financial advisors) for their business prospects, although they do have other referral sources. Some pension administration firms assign financial advisory work to an internal unit and also accept referrals from an independent broker network.
The Government of Jharkhand also known as the State Government of Jharkhand, or locally as State Government, is the supreme governing authority of the Indian state of Jharkhand and its 24 districts. It consists of an executive , led by the Governor of Jharkhand , a judiciary and a legislative branch.
At the time of formation, Jharkhand state had 18 districts. Later, six more districts were carved out by reorganizing these districts. The 23rd and 24th districts- Khunti and Ramgarh (carved out of erstwhile Ranchi and Hazaribagh District respectively) were made a district on 12 September 2007.