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The Public School Employees’ Retirement System (PSERS) is a pension fund for public school employees in the Commonwealth of Pennsylvania.Eligible members include all full-time public school employees, part-time hourly public school employees who render at least 500 hours of service in the school year, and part-time per diem public school employees who render at least 80 days of service in ...
Penn State trustees voted 26-6 on Friday to approve a proposal that would create a 2.5% general salary increase for university employees. The pay bump, retroactive to July 1, will take effect ...
In 2022, Americans spent 33.3% of their income on housing, per the Bureau of Labor Statistics. The cost of shelter rose by 5.7% from February 2023 to February 2024, according to the Consumer Price ...
In the early morning hours of July 7, 2005, the Pennsylvania General Assembly passed pay increases for state lawmakers, judges, and top executive-branch officials. [1] The vote took place at 2 am without public review or commentary and Governor Ed Rendell signed the bill into law. The raise increased legislators' base pay from 16% to 34% ...
By 1994, "Pennsylvania's state pension funds [had] the most active program of in-state investments in the country," according to the Richmond Times-Dispatch, which also noted that Pennsylvania's pension system had "committed $259.5 million to venture capital funds that invest in the state or in out-of-state companies that create jobs in ...
The big news for 2023 is the record-breaking cost of living adjustment that will increase payment amounts by 8.7%, the biggest jump in 40 years and the fourth-largest of all time. That percentage ...
Public employee pension plans in the United States. 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.
This means your COLA might be above 8.7%. However, your COLA could be less than 8.7% if you have already started collecting Social Security but plan to sign up for Medicare for the first time in 2023.