State retirement pension
State retirement pension are an important part of retirement pensions in US. They mostly consist of public sector pensions and are mostly available to the employees of the public sector. There are some states and local governments which provide defined contribution retirement pension plans instead of defined-benefit pension plans. In some states, these plans are also known as Public Employee Retirement Systems (PERS).
Some of the well known state retirement pension plans are:
Alaska Retirement System: It is a public employee retirement system provided by the state of Alaska. It takes care of the pension benefits of the employees in various public sector organizations and also educational employees.
Retirement system of Alabama: Retirement system of Alabama is a part of the retirement pension program of the state of Alabama. It looks after the pension fund of the public sector employees. The headquarters of the agency is located in the city of Montgomery in Alabama.
Arkansas Retirement system: There are six retirement systems in Arkansas which cover the retirement pension benefits of the employees of the local and the state level. Some of the state retirement pension plans are State Police Retirement, District Judges Retirement, Judicial Retirement, Public Employees Retirement, and State Highway Employees Retirement and so on.
California: State retirement pension plans in California consist of California Public Employees’ Retirement System (CalPERS) and California State Teachers’ Retirement System (CalSTRS). The state and public pension employees are covered under these retirement pension plans.
Oregon Public Employees Retirement System: The public retirement system in Oregon covers employees of the state, school districts and local governments. The retirement plan also consists of a health insurance plan for the employees.
In addition to these, there are also other state retirement pension plans such as:
- Arizona State Retirement System
- Public Safety Personnel Retirement System of Arizona
- Colorado Public Employees Retirement Association
- Connecticut Teachers’ Retirement Board
- State Employees’ Retirement System (SERS)
- Public Employees Retirement Association of Minnesota
- New Hampshire Retirement System
- New York State and Local Retirement System
- Ohio Public Employee Retirement System
- Public School Employees’ Retirement System in Pennsylvania