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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.
The Government Pension Fund Norway is smaller and was established in 1967 as a type of national insurance fund. It is managed separately from the Oil Fund and is limited to domestic and Nordic investments and is therefore a key stock holder in many large Norwegian companies, predominantly via the Oslo Stock Exchange .
Many U.S. cities are allowed to participate in the pension plans of their states; some of the largest have their own pension plans. The total number of local government employees in the United States as of 2020 is 14.3 million. There are 11.1 million full-time and 3.1 million part-time local-government civilian employees as of 2020. [16]
The retirement fund is a defined benefit type pension plan and was only partially funded by the government, with only $268.4 million in assets and $911 million in liabilities. The plan experienced low investment returns and a benefit structure that had been increased without raises in funding.
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.The U.S. Government's Social Security Trust Fund, which oversees $2.57 trillion in assets, is the world's largest public pension fund.
The Social Security Fairness Act eliminates two decades-old provisions – the Windfall Elimination Provision and the Government Pension Offset – that reduced Social Security benefits for some ...
Social Security provides essential benefits for millions of retirees. But those who receive government pensions that weren't funded by Social Security could lose some of their spousal benefits ...
The Government Pension Investment Fund (GPIF) states that it has been established on the following investment principles: The overarching goal should be achieve the investment returns required for the public pension system with minimal risks, solely for the benefit of pension recipients from a long-term perspective, thereby contributing to the stability of the system.