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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 list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
In May 2014, Christie cut the contributions to New Jersey public workers' pension funds for a 14-month period by nearly $2.5 billion to deal with a revenue shortfall in the state budget of $2.75 billion. The state will instead make a $1.3 billion payment during the period.
1969–1975. Rank. Sergeant. Unit. Reserves. Jonathan Stevens "Jon" Corzine ( / ˈkɔːrzaɪn / KOR-zyne; born January 1, 1947) is an American financial executive and retired politician who served as a United States Senator from New Jersey from 2001 to 2006, and the 54th governor of New Jersey from 2006 to 2010.
By RYAN GORMAN Embattled New Jersey Governor Chris Christie faces another possible scandal – this time for possibly costing tax payers nearly $4 billion after diverting state pension funds to ...
The New Jersey Office of the State Comptroller (OSC) is an independent agency of the Government of New Jersey created by an act of the state legislature in 2007 in order to make government more efficient, accountable and transparent. [1] [2] [3] The State Comptroller is appointed by the Governor of New Jersey, with the advice and consent of the ...
Philip Dunton Murphy (born August 16, 1957) [1] [2] is an American politician, diplomat, and financier serving as the 56th governor of New Jersey. A member of the Democratic Party, he was elected governor in 2017 and narrowly reelected in 2021. From 2009 to 2013, Murphy served as the U.S. ambassador to Germany under President Barack Obama .
The pensions crisis or pensions timebomb is the predicted difficulty in paying for corporate or government employment retirement pensions in various countries, due to a difference between pension obligations and the resources set aside to fund them. The basic difficulty of the pension problem is that institutions must be sustained over far ...