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Some local governments do not offer defined-benefit pensions but may offer a defined contribution plan. In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS).
Pension plans operate on the principle of accruing benefits over an employeeās career. During their employment, the employer contributes to the plan on behalf of the employee. The money is then ...
Learn how to use the personalized, easy-to-use AOL MyBenefits page to view, activate and manage all the great benefits that are available to you as part of your AOL MyBenefits plan.
The 457 (b) retirement plan offers many advantages to government workers, including tax-deferred growth of their savings, but these plans do come with some drawbacks.
As Social Security and CSRS benefits sometimes overlapped, Congress called for the development of a new federal employee retirement program to complement Social Security. This new plan was enacted as the Federal Employees' Retirement Act of 1986.
Federal tax aspects of retirement plans in the United States are based on provisions of the Internal Revenue Code and the plans are regulated by the Department of Labor under the provisions of the Employee Retirement Income Security Act (ERISA).
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277 West Nationwide Boulevard, Columbus, OH · Directions · (614) 227-5725