A pension is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be:
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this has been increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the government of the United States, and according to the FDIC, "since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds".
In the United States government, independent agencies are agencies that exist outside the federal executive departments and the Executive Office of the President. In a narrower sense, the term refers only to those independent agencies that, while considered part of the executive branch, have regulatory or rulemaking authority and are insulated from presidential control, usually because the president's power to dismiss the agency head or a member is limited.
The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families". In fiscal year 2020–21, CalPERS paid over $27.4 billion in retirement benefits, and over $9.74 billion in health benefits.
The Thrift Savings Plan (TSP) is a defined contribution plan for United States civil service employees and retirees as well as for members of the uniformed services. As of December 31, 2021, TSP has approximately 6.5 million participants, and more than $827.2 billion in assets under management; it is the largest defined contribution plan in the world. The TSP is administered by the Federal Retirement Thrift Investment Board, an independent agency.
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 hired after that date cannot participate in CSRS. CSRS continues to provide retirement benefits to those eligible to receive them.
Bradley Belt is an American businessman. He is the CEO of Palisades Capital and the managing director of the Milken Institute. He is vice chairman of Orchard Global Asset Management.
A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts plus any investment earnings on the money in the account. In defined contribution plans, future benefits fluctuate on the basis of investment earnings. The most common type of defined contribution plan is a savings and thrift plan. Under this type of plan, the employee contributes a predetermined portion of his or her earnings to an individual account, all or part of which is matched by the employer.
Andrew Marshall Saul is an American businessman and political candidate who served as commissioner of the United States Social Security Administration from 2019 to 2021. Saul was fired from the position by President Joe Biden on July 9, 2021, after refusing to offer his requested resignation. Saul stated that his discharge was illegal.
Alberta Investment Management Corporation (AIMCo) is a Canadian Crown corporation and institutional investor established to manage several public funds and pensions headquartered in Edmonton, Alberta. AIMCo was established by an act of the Legislative Assembly of Alberta in 2008 under the government of Progressive Conservative Premier Ed Stelmach.
The California State Teachers' Retirement System (CalSTRS) provides retirement, disability and survivor benefits for California's 965,000 prekindergarten through community college educators and their families. CalSTRS was established by law in 1913 and is part of the State of California's Government Operations Agency. As of September 2020, CalSTRS is the largest teachers' retirement fund in the United States. CalSTRS is also currently the eleventh largest public pension fund in the world. As of October 31, 2020, CalSTRS managed a portfolio worth $254.7 billion.
Christopher Bancroft Burnham is and American business executive, public servant, and politician. He is the chairman and chief executive officer of Cambridge Global Capital, LLC and chairman of the board of EN+ Group. He has served as Under Secretary General for Management of the United Nations, Assistant Secretary of State for Resource Management and chief financial officer of the U.S. Department of State. He was a three-term Member of the Connecticut House of Representatives, Connecticut State Treasurer as well as vice chairman of Deutsche Bank Asset Management and global co-head of private equity.
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 770 reporting entities in Pennsylvania.
TSP TALK is an online web communications website and forum established for federal employees and military personnel. It was originally created in 2004 by former federal employee and computer specialist Tom Crowley.
Postal Savings Bank of China Co., Ltd. also known as PSBC is a commercial retail bank founded in 2007 and headquartered in Beijing. It provides basic financial services, especially to small and medium enterprises, rural and low income customers. As of 31 December 2017, PSBC has 39,798 branches covering all regions of China. IPSBC was ranked #27 in Forbes Global 2000 in 2023.
Employee Benefit Research Institute (EBRI) is a nonpartisan, nonprofit research organization based in Washington, D.C., that produces original research about health, savings, retirement, personal finance and economic security issues, including 401(k) and retirement plan coverage data, post-retirement income adequacy, health coverage and the uninsured, and economic security of the elderly.
Utah Retirement Systems administers pension plans and retirement savings plans for public employees in the U.S. state of Utah. There are eight separate defined-benefit pension plans administered by URS, as well as various retirement savings plans. As of December 31, 2014, the URS was managing over $31 billion in its pension trust funds, for nearly 200,000 members. Besides the pension trust funds, the URS manages a 401(k), 457(b), a traditional IRA and Roth IRA with around $4.5 billion in assets combined at the end of 2014.
The Smart Savings Act made the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation investment fund instead of the Government Securities Investment Fund.
Terrence A. Duffy is an American businessman. He is the chairman and chief executive officer of CME Group, a derivatives marketplace based in Chicago, Illinois.
