We administer retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard members. This includes over 598,000 customers (approximately …

A pension (/ ˈpɛnʃən /; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the …

Apr 17, 2025 · What is a pension & how does it work? If you earn a pension during your working years, you have a source of retirement income that can last as long as you live. That's a guarantee some …

Apr 5, 2025 · Employers make regular contributions to a pool of money set aside to fund payments to eligible employees after they retire. Traditional pension plans in the U.S., known as defined-benefit …

Sep 23, 2025 · Though 401 (k)s dominate the workplace, pensions remain vital in providing structured retirement income and tax advantages for many employees. A pension is an employer-sponsored …

Jun 26, 2025 · Are you looking for information about the U.S. retirement system or a specific problem affecting your retirement security? Here you will find fact sheets, legislative and regulatory …

Jul 18, 2024 · Pensions are retirement plans that provide income for employees after they retire. Employers, employees or both may contribute depending on the specifics of the pension.

May 24, 2023 · Here's how pensions work and what options are available if you don’t have access to one.

Aug 22, 2025 · Pensions are often paid monthly for the rest of the retiree’s life or in a lump sum upon retirement. In most cases, pension income is calculated as a proportion of an employee’s earnings …

ERISA made it clear that pensions legally belong to their beneficiaries. It set investment and accounting standards for the liability created by employees covered by the plans. In addition, the Pension …