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The data below includes the 2023 district-reported salary and the cost of retirement benefits (which districts are required to pay to Michigan's school pension system).
The Michigan Office of Retirement Services (ORS) administers retirement programs for Michigan 's state employees, public school employees, judges, state police, and National Guard. ORS also provides various retiree healthcare benefits, including traditional insurance plans, Personal Healthcare Funds, and Health Reimbursement Accounts.
Half a million Michigan households with pensions are expected to save an average of $1,000 a year. Much will be phased in over four years from 2023 through 2026.
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Retirement age in the public sector is usually lower than in the private ...
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.
Michigan's large public pension fund put about $45 million in cryptocurrencies — and at one point nearly doubled that investment. Skip to main content. 24/7 Help. For premium support please call
A former employee of the Retirement Systems of the City of Detroit is the target of a Michigan State Police probe into theft involving prepaid cards. File: Spirit of Detroit on Sunday, Aug. 21 ...
Civil Service Retirement System. The Civil Service Retirement System (CSRS) is a public pension fund organized in 1920 that has provided retirement, disability, and survivor benefits for most civilian employees in the United States federal government. Upon the creation of a new Federal Employees Retirement System (FERS) in 1987, those newly ...