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Recently, PICA has issued a report on the cost of Philadelphia's Deferred Retirement Option Plan (DROP), and staff reports on the City's pension system and departmental performance. Past reports include a report on the Philadelphia Fire Department, and a staff report on the expansion of the Pennsylvania Convention Center.
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.
Since 2001, U.S. statewide pension funds have experienced significant funding challenges due to the recessions of 2001-2002 and 2008-2009. Prior to the Dot-Com Crash, statewide pension funds were over 95.6% funded in the aggregate. In 2002, the funded ratio had declined to 82.1%.
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 ...
District Council 47 of The American Federation of State, County and Municipal Employees represents more than 3,000 unionized workers for the city, who negotiated remote-work arrangements beginning ...
Outside of veterans' pensions, the institution of the first public pension plan for New York City Police is considered as the first iteration of a modern pension in the USA. The Police Life and Health Insurance Fund, created in 1857, provided payment to officers injured or otherwise disabled in the line of duty and offered compensation in a ...
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The Merchants Fund evolved from The Mercantile Beneficial Association of Philadelphia, an organization founded in 1842 to provide its members with business advice, networking opportunities, and protection from financial failure. At this time, there were no health insurance options, disability protections, or pension plans in the United States.