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The Michigan Office of Retirement Services (ORS) administers retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard. ORS also provides various retiree healthcare benefits, including traditional insurance plans, Personal Healthcare Funds, and Health Reimbursement Accounts.
In doing so, Reason Foundation said that transition could potentially inflate the state employee retirement services plan's unfunded liabilities from its current $5.4 billion to “well over $8 ...
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 ...
One of the most crucial benefits Michigan state employees used to be able to rely on was a pension. This provided a promise of guaranteed retirement income in exchange for our years of dedicated ...
The average salary for state classified employees, not including benefits, reached $72,821 in 2023, according to the latest annual workforce report prepared by the Michigan Department of Civil ...
Michigan Department of Information Technology [7] Michigan Department of Licensing and Regulation, abolished by Governor Engler with most of the department transfer to the Department of Commerce until Commerce was split up with the former L&R powers transferred to the Department of Consumer and Industry Services [1] Michigan Department of Labor ...
The Social Security Administration (SSA) will pay benefits to nearly 68 million Americans every month in 2024 for a total of more than $1.5 trillion over the course of the year.
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