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In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Retirement age in the public sector is usually lower than in the private sector.
In 2023, the PERS governing board, made up of mostly elected members, as advised by financial actuaries who watch over the state's retirement plan, passed a rate increase on public employers, such ...
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Last year, the board voted to increase employer contributions toward the state pension plan from 17.9% to 19.9% to address a $25 billion debt and a reduction in PERS members.
Methodology: GOBankingRates looked at the average retirement age in every state, as reported by Money Talk News on Sep. 29, 2019, using data from the U.S. Census Bureau’s latest American ...
The Iowa Employer Benefits Study is an annual survey of Iowa employers conducted to determine the types and amounts of employee benefits offered by organizations in Iowa. The information collected in this research allows employers to understand the value of their benefit plans compared to state and industry averages.