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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.
The Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits by way of trust funds. When the program runs a surplus, the excess funds increase the value of the Trust Fund. As of 2021, the Trust Fund contained (or alternatively, was owed) $2.908 trillion. [4]
Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former chief executive officer (CEO) of Delta Air Lines. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. He became CEO of Delta in 2004, a time of financial crisis for the airline.
It's also a far cry from the $1.5 million that the typical worker said they'd need to fund a comfortable retirement, according to a Northwestern Mutual study published earlier this year.
By waiting beyond longer to file, a retiree can increase their Social Security payment by 8% each year beyond the full retirement age they wait to file, topping out at 70 years. As of February ...
In April 2012, the Northern Mariana Islands Retirement Fund filed for Chapter 11 bankruptcy protection. The retirement fund is a defined benefit type pension plan and was only partially funded by the government, with only $268.4 million in assets and $911 million in liabilities. The plan experienced low investment returns and a benefit ...
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