Pension fund
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A pension fund is a certain type of capital provided by contributions from employers and employees, invested to provide for the pension payouts to retired employees who share in the fund. The largest public pension fund in the nation is the California Public Employee Retirement System (CalPERS), with assets totaling $260.9 billion as of August 31, 2013.[1]
A Marquette Associates report to the Illinois Commission on Government Forecasting and Accountability released in February 2012 showed 1,511 public pension plans in the United States. Illinois had the largest number of these public funds with 657 separate plans. Pennsylvania had the second most with 137. The report also stated that 14 states had adopted "segregated statewide police and fire plans, combined statewide police and fire plans, or established defined contribution/rollup plans."[2]
External links
Additional reading
- The Pew Charitable Trusts, "The Fiscal Health of State Pension Plans," March 2014
- Morningstar, " The State of State Pension Plans 2013," September 16, 2013
- Market Watch, "10 most threatened state pension plans," September 13, 2013
Footnotes
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