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The Los Angeles County Employees Retirement Association (LACERA) is an independent Los Angeles County agency that administers and manages the retirement fund for the County and outside Districts (Little Lake Cemetery District, Local Agency Formation Commission for the County of Los Angeles, Los Angeles County Office of Education, and South Coast Air Quality Management District).
The Oklahoma Public Employees Retirement System was created in 1964 and administers retirement plans for several different types of government employees, including state and local government employees, state and county elected officials and hazardous duty employees. The plan serves approximately 30,000 benefit recipients, 50,000 active members ...
A plan must be administered according to the plan document. Benefits are required to commence at retirement age (usually age 65 if no longer working, or age 70 1/2 if still employed). Once earned, benefits may not be forfeited. A plan may not discriminate in favor of highly compensated employees. A plan must be insured by the PBGC.
The "State Officers' and Employees' Retirement System of Utah," later named the Public Employees' Retirement System, was created in 1947. Also, optional state coverage was established for judges and local government employees. In 1963, joint administration was established for public employees and teachers systems.
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.
SPRS is a single-employer, defined-benefit pension plan with Hazardous members. Each system covers regular full-time members employed by the participating agencies. Kentucky's public employee pension system has been ranked one of the most underfunded public pension systems in the country.
The Employee Retirement Income Security Act and the Internal Revenue Code provide that most retirement plans contain anti-alienation provisions related to the benefits held by these trusts. The anti-alienation provisions require these trusts to prohibit the alienation or assignment of pension benefits to anyone other than the affected ...
www .in .gov /inprs. Indiana Public Retirement System (INPRS) is a U.S.-based pension fund responsible for the pension assets for public employees in the state of Indiana. INPRS is among the largest 100 pension funds in the United States, with $47.961 billion in actuarial accrued liabilities and $34.479 billion in actuarial assets as of June 30 ...