Employees Retirement System of Texas(ERS) is an agency of the Texas state government. [1]
ERS was created in 1947. [2] It oversees retirement benefits of state employees. [3] It is headquartered at 200 E 18th Street in Austin, Texas. [4] It is currently managed by CIO Tom Tull. [5]
As of 2020, the total unfunded liabilities of ERS is $14.7 billion. [6]
A pension is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement.
A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income.
KPMG International Limited is a British-Dutch multinational professional services network, and one of the Big Four accounting organizations.
The Committee on Education and Labor is a standing committee of the United States House of Representatives. There are 50 members in this committee.
Pensions in the United States consist of the Social Security system, public employees retirement systems, as well as various private pension plans offered by employers, insurance companies, and unions.
The California School Employees Association, AFL-CIO (CSEA) is the largest classified school employees labor union in the United States. CSEA represents more than 230,000 public employees in California.
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. These plans may be defined-benefit or defined-contribution pension plans, but the former have been most widely used by public agencies in the U.S. throughout the late twentieth century. 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).
The Montana Federation of Public Employees(MFPE) is a Montana labor union. Its 23,000 members make it the largest union in the state.
Edwin D. "Ed" Hill was an electrical worker, labor union activist and labor leader in the United States. He was the president of the International Brotherhood of Electrical Workers (IBEW), AFL-CIO from 2001 until his retirement in 2015.
The Employee Free Choice Act is the name for several legislative bills on US labor law which have been proposed and sometimes introduced into one or both chambers of the U.S. Congress.
The Marine Engineers' Beneficial Association (M.E.B.A.) is the oldest maritime trade union in the United States still currently in existence, established in 1875. M.E.B.A. primarily represents licensed mariners, especially deck and engine officers working in the United States Merchant Marine aboard U.S.-flagged vessels. It is a member union of the AFL–CIO.
Teacher Retirement System of Texas (TRS) is a public pension plan of the State of Texas. Established in 1937, TRS provides retirement and related benefits for those employed by the public schools, colleges, and universities supported by the State of Texas and manages a $180 billion trust fund established to finance member benefits. More than 1.6 million public education and higher education employees and retirees participate in the system. TRS is the largest public retirement system in Texas in both membership and assets and the sixth largest public pension fund in America. The agency is headquartered at 1000 Red River Street in the capital city of Austin.
A defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum or combination thereof on retirement that is predetermined by a formula based on the employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental and public entities, as well as a large number of corporations, provide defined benefit plans, sometimes as a means of compensating workers in lieu of increased pay.
Phyllis C. Borzi was the Obama administration's Assistant Secretary for Employee Benefits Security of the United States Department of Labor, the official in charge of the Employee Benefits Security Administration.
The Public School Employees’ Retirement System (PSERS) is a pension fund for public school employees in the Commonwealth of Pennsylvania. Eligible members include all full-time public school employees, part-time hourly public school employees who render at least 500 hours of service in the school year, and part-time per diem public school employees who render at least 80 days of service in the school year in any of the 775 reporting entities in Pennsylvania.
Donald W. Norcross is an American politician who has served as the U.S. representative for New Jersey's 1st congressional district since 2014. The district covers much of the New Jersey side of the Philadelphia metro area, including Camden, Cherry Hill, Lindenwold, and Glassboro. He is a member of the Democratic Party and an American labor leader. He won the seat in 2014 after Rob Andrews resigned. Norcross represented the 5th district in the New Jersey Senate from 2010 to 2014.
Thomas Britton "Britt" Harris IV is the current chief investment officer of the University of Texas/Texas A&M Investment Management Company. The investment management company oversees the assets of The University of Texas and Texas A&M University. In 2013 Harris was announced as the recipient of the aiCIO's Lifetime Achievement Award. He founded and has led Titans of Investing since 2006.
Tom Cullerton is a member of the Illinois Senate representing the 23rd district since 2013. The 23rd district spans northern DuPage County and includes all or parts of Addison, Bloomingdale, Bartlett, Carol Stream, Glendale Heights, Hanover Park, Itasca, Roselle, Villa Park, West Chicago, Wayne and Wood Dale. Prior to his service in the Illinois Senate he was the Village President of Villa Park from 2009 to 2013 and served one term as a village trustee from 2005 to 2009.
Connie Keogh is an American politician and educator serving as a member of the Montana House of Representatives from the 91st district. Elected in November 2018, she assumed office on January 7, 2019.
Retirement Plan
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