Public Retirement System

Public Retirement System

A retirement system established by the United States, a state, territory, or possession of the United States, or their political subdivisions.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
It would protect current retirees, and place Oregon's public retirement system on a sound foundation going forward.
Interest payments are also projected to rise to a record 6.3 percent by 2048 -- when, according to the CBO, they will exceed all discretionary spending and be "about equal" to spending on Social Security, the behemoth public retirement system that is one of the largest burdens on the US budget.
David Livingston, R-Peoria, which would allow for changes to the public retirement system that otherwise are prohibited by the Arizona Constitution.<br />Interestingly, legislators asked the Secretary of State's Office to return SCR1023, which they approved last year and also dealt with changes to the public retirement system, and replace it with HCR2032 on the ballot.<br />State Elections Director Eric Spencer said his agency received the Legislature's request a few weeks ago, and the Secretary of State's Office transmitted SCR1023 back to Senate President Steve Yarbrough, R-Chandler, and substituted it with HCR2032.
On June 30, 2016, the new teachers' plan stood at 91.8% funded, reports Steve Russo, executive director of the consolidated Indiana Public Retirement System in Indianapolis.
Is it more about a failed public retirement system and a failed health care database.
BANKING AND CREDIT NEWS-December 17, 2015-Voya Financial selected as service provider for Indiana Public Retirement System
M2 EQUITYBITES-December 17, 2015-Voya Financial selected as service provider for Indiana Public Retirement System
Interplay between public retirement systems and the Social Security Act Section 218 Agreement: Effective July 2, 1991, Congress made Social Security coverage mandatory for state and local government employees who are neither covered by an SSA Section 218 Agreement nor are qualifying participants in a public retirement system.
Today, most workers can reasonably foresee getting enough support from the public retirement system to stay out of poverty when they get older, making it less likely that they will have to call on direct aid--either in cash or in kind--from their own children." In other words, if only the government did not provide so much help, people would have more kids, who would support their parents in old age.
In July, the Indiana Public Retirement System (INPRS) board of trustees voted to seek an outside third-party insurer to administer its Annuity Savings Account (ASA) program for future payments.
One example of the discriminatory effect of the current distribution of payments is highlighted by the experience of charter schools that have opted to join the public retirement system. (28) This decision has been disastrous for these schools because their teachers tend to have much shorter careers in government service and often do not even vest for pension benefits, but still must pay into the system the same proportion of payroll as regular public schools because of the way the contribution rate is assessed.
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