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The Metropolitan Transportation Authority (MTA) is a public benefit corporation in New York State responsible for public transportation in the New York City metropolitan area.
[5]: 133 [6]: 302 [7] In 1962 the State established the Manhattan and Bronx Surface Transit Operating Authority (MaBSTOA) as a subsidiary of NYCT to take over operations then operated by two private companies, Fifth Avenue Coach Lines, Inc. and Surface Transit, Inc. [5]: 133 [6]: 268 [7] Both NYCT and MaBSTOA operate service pursuant to a lease ...
Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental ...
The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary ...
There's been an ongoing debate about whether retirees should abandon the "4% rule" for withdrawals from retirement accounts, a retirement income rule of thumb for decades. The market volatility of ...
The Pension Protection Act cracks down on supporting organizations, particularly Type III supporting organizations. The Act applies further regulations and penalties that takes away several of the privileges that supporting organizations have over private foundations, such as applying private foundation law of excess benefit transactions, excess business holding rules, and pay out requirements.
The first tier is based on combined railroad retirement and social security credits, using social security benefit formulas. The second tier is based on railroad service only and is comparable to the pensions paid over and above social security benefits in other industries. The railroad unemployment insurance system was also established in the ...
SPRS is a single-employer, defined-benefit pension plan with Hazardous members. Each system covers regular full-time members employed by the participating agencies. [ 7 ] Kentucky's public employee pension system has been ranked one of the most underfunded public pension systems in the country.