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The State Health Plan approved a Medicare Advantage premium increase for some retired state workers and their dependents, after unexpected costs and financial woes.
The new treasurer will also have to manage investments in the state’s pension fund, worth over $122 billion. This fund provides retirement benefits to nearly a million public employees.
The revenue for the State Health Plan mostly comes from premiums paid by employees and contributions paid by employers, including state agencies, school systems, universities and community colleges.
In the United States, public sector pensions are offered at the federal, state, and local levels of government. They are available to most, but not all, public sector employees. These employer contributions to these plans typically vest after some period of time, e.g. 5 years of service. These plans may be defined-benefit or defined-contribution pension plans, but the former have been most ...
The North Carolina Department of Health and Human Services (NCDHHS or DHHS) is a large state government agency in the U.S. state of North Carolina, analogous to the United States Department of Health and Human Services. [3] The NCDHHS has more than 18,000 employees. The NCDHHS has its origins in the former North Carolina Department of Human Resources (DHR). The head of NCDHHS (Secretary) is ...
The Civil Service Retirement System ( CSRS) is a public pension fund organized in 1920 that has provided retirement, disability, and survivor benefits for most civilian employees in the United States federal government. Upon the creation of a new Federal Employees Retirement System (FERS) in 1987, those newly hired after that date cannot ...
The North Carolina Retirement System includes four major retirement programs, the largest being the Teachers’ and State Employees’ Retirement System, as well as multiple smaller pension funds.
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.