Ads
related to: nadart retirement plan employees resources services company- Longevity Literacy
Get the real secret to retirement
readiness in our TMRW publication.
- Retirement Crisis
Expert opinions on the potential
solutions for the retirement crisis
- Real People, Real Stories
Personal stories overcoming their
worry & anxiety about retirement.
- Managing Retirement Plans
See Our Employer Survey Results
Related to Retirement Plans.
- Longevity Literacy
servicenearu.com has been visited by 100K+ users in the past month
quizntales.com has been visited by 1M+ users in the past month
assistantkey.com has been visited by 100K+ users in the past month
Search results
Results from the WOW.Com Content Network
According to U.S. Bureau of Labor data, only about 15% of private industry employees currently have access to a defined benefit plan, also known as a traditional pension.
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Retirement age in the public sector is usually lower than in the private sector.
Additional legislation since 2001 has further relaxed restrictions. Essentially, most retirement plans can be rolled into an IRA after meeting certain criteria, and most retirement plans can accept funds from an IRA. An example of an exception is a non-governmental 457 plan which cannot be rolled into anything but another non-governmental 457 plan.
Most new federal employees hired on or after January 1, 1987, are automatically covered under FERS. Those newly hired and certain employees rehired between January 1, 1984, and December 31, 1986, were automatically converted to coverage under FERS on January 1, 1987; the portion of time under the old system is referred to as "CSRS Offset" and only that portion falls under the CSRS rules.
The reason, Ghilarducci says, is partly due to the current retirement system, which places the onus on workers to manage their own savings decisions through their 401(k)s and similar plans.
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 ...
Ads
related to: nadart retirement plan employees resources services companyservicenearu.com has been visited by 100K+ users in the past month
quizntales.com has been visited by 1M+ users in the past month
assistantkey.com has been visited by 100K+ users in the past month