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The state employee system and the public school employee system administered by ORS make up 95 percent of all active plan membership in Michigan. ORS is responsible for the 18th largest public pension system in the United States and the 47th largest pension system in the world, managing combined net assets of nearly $67.8 billion.
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.
The Internal Revenue Service ( IRS) is the revenue service for the United States federal government, which is responsible for collecting U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law. It is an agency of the Department of the Treasury and led by the Commissioner of Internal Revenue ...
The price of household energy has increased 29.7% from January 2021 to April 2024, according to data from the Bureau of Labor Statistics. For those leaving home, the price of gasoline has risen ...
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.
May 28 is National Hamburger Day, and to celebrate, Wendy’s is selling Jr. Bacon Cheeseburgers for the unbelievably low cost of only 1 cent. That’s less than customers paid for a hamburger in ...
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 ...
A health battle inspired Seinfeld alum Michael Richards to write his upcoming memoir, Entrances and Exits. The actor, 74, known for playing Kramer on the sitcom, details being diagnosed with stage ...