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Virginia Retirement System
The Virginia Retirement System is an independent state agency that administers pension plans, retirement savings plans, and other benefits to public employees in the U.S. state of Virginia. As of 2018, the agency ranks as the 14th largest public or private pension fund in the United States and is the 42nd largest retirement system in the world. Membership As of 2022, there are approximately 835 state employers participating in the system, including municipalities, counties, school districts, colleges and universities, law enforcement agencies, judiciary agencies, and state agencies. The Virginia Retirement System currently serves more than 750,000 members, beneficiaries, and retirees. Governance The Virginia Retirement System is governed by a 9-member Board of Trustees, which is a shared responsibility of the Governor of Virginia and the Virginia General Assembly. The legislature's Joint Legislative Audit and Review Commission is responsible for oversight of the system. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richmond, Virginia
(Thus do we reach the stars) , image_map = , mapsize = 250 px , map_caption = Location within Virginia , pushpin_map = Virginia#USA , pushpin_label = Richmond , pushpin_map_caption = Location within Virginia##Location within the contiguous United States , pushpin_relief = yes , coordinates = , subdivision_type = Country , subdivision_name = , subdivision_type1 = U.S. state, State , subdivision_name1 = , established_date = 1742 , , named_for = Richmond, London, Richmond, United Kingdom , government_type = , leader_title = List of mayors of Richmond, Virginia, Mayor , leader_name = Levar Stoney (Democratic Party (United States), D) , total_type = City , area_magnitude = 1 E8 , area_total_sq_mi = 62.57 , area_land_sq_mi = 59.92 , area_ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Fund
A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In the Anglo-American common law, the party who entrusts the right is known as the "settlor", the party to whom the right is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the " beneficiary", and the entrusted property itself is known as the "corpus" or "trust property". A ''testamentary trust'' is created by a will and arises after the death of the settlor. An ''inter vivos trust'' is created during the settlor's lifetime by a trust instrument. A trust may be revocable or irrevocable; an irrevocable trust can be "broken" (revoked) only by a judicial proceeding. The trustee is the legal owner of the property in trust, as fiduciary for the beneficiary or beneficiaries who is/are the equitable owner(s) of the trust property. Trustees thus have a fiduciary duty to manage th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Pension Funds In The United States
In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichkeit'' or public sphere. The concept of a public has also been defined in political science, psychology, marketing, and advertising. In public relations and communication science, it is one of the more ambiguous concepts in the field. Although it has definitions in the theory of the field that have been formulated from the early 20th century onwards, and suffered more recent years from being blurred, as a result of conflation of the idea of a public with the notions of audience, market segment, community, constituency, and stakeholder. Etymology and definitions The name "public" originates with the Latin '' publicus'' (also '' poplicus''), from ''populus'', to the English word 'populace', and in general denotes some mass population ("the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Funds
A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold about USD$6 trillion in assets. In 2012, PricewaterhouseCoopers estimated that pension funds worldwide hold over $33.9 trillion in assets (and were expected to grow to more than $56 trillion by 2020), the largest for any category of institutional investor An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ... ahead of mutual funds, insurance companies, currency reserves, sovereign wealth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Largest Pension Schemes In The United States
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. In practice, Taft-Hartley plans have many units of local pension funds, under an umbrella group. Largest U.S. public pension funds The rankings below are the 30 largest public pension plans in the U.S., according to the 2018 list compiled by ''Pensions & Investments'' magazine. See also * Pension fund *US labor law *Individual Retirement Account *Congressional pension Congressional pension is a pension made available to members of the United States Congress. , members who participated in the congressional pension system are vested after five years of service. A pension is available to members 62 years of age wi ... References {{reflist External links OECD Annual Survey of Large Pension Funds and Public Pensio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Employee Pension Plans In The United States
In the United States, public sector pensions are offered at the federal, state, and local levels of government. They are available to most, but not all, public sector employees. These employer contributions to these plans typically vest after some period of time, e.g. 5 years of service. These plans may be defined-benefit or defined-contribution pension plans, but the former have been most widely used by public agencies in the U.S. throughout the late twentieth century. Some local governments do not offer defined-benefit pensions but may offer a defined contribution plan. 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. Public pension plan managers in the United States take higher r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Of Living Adjustment
Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time can be operationalized in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas. Differences in cost of living between locations can be measured in terms of purchasing power parity rates. Definition Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time can be operationalized in a cost-of-living index. Cost of living calculations can be used to compare the cost of maintaining a certain standard of living in different geographic areas. Differences in cost of living between locations can be measured in terms of purchasing power parity rates. Cost-of-living adjustment (COLA) Employment contracts and pension benefits can be tied to a cost-of-living index, typically to the consumer price index (CPI). A COLA a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defined Contribution Plan
A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer contributions) plus any investment earnings on the money in the account. In defined contribution plans, future benefits fluctuate on the basis of investment earnings. The most common type of defined contribution plan is a savings and thrift plan. Under this type of plan, the employee contributes a predetermined portion of his or her earnings (usually pretax) to an individual account, all or part of which is matched by the employer. In the United States, specifies a defined contribution plan as a "plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expense ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defined Benefit Pension Plan
Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental and public entities, as well as a large number of corporations, provide defined benefit plans, sometimes as a means of compensating workers in lieu of increased pay.Lemke and Lins, ''ERISA for Money Managers'', §1:1 (Thomson West, 2013). A defined benefit plan is 'defined' in the sense that the benefit formula is defined and known in advance. Conversely, for a "defined contribution retirement saving plan," the formula for computing the employer's and employee's contributions is defined and known in advance, but the benefit to be paid out is not known in advance. In the United States, specifies a defined benefit plan to be any pension plan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constitution Of Virginia
The Constitution of the Commonwealth of Virginia is the document that defines and limits the powers of the state government and the basic rights of the citizens of the Commonwealth of Virginia. Like all other state constitutions, it is supreme over Virginia's laws and acts of government, though it may be superseded by the United States Constitution and U.S. federal law as per the Supremacy Clause. The original Virginia Constitution of 1776 was enacted at the time of the Declaration of Independence by the first thirteen states of the United States of America. Virginia was an early state to adopt its own Constitution on June 29, 1776, and the document was widely influential both in the United States and abroad. In addition to frequent amendments, there have been six major subsequent revisions of the constitution (by Conventions for the constitutions of 1830, 1851, 1864, 1870, 1902, and by commission for 1971 amendments). These new constitutions have been part of, and in reaction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Agency
A government or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government The machinery of government (sometimes abbreviated as MoG) is the interconnected structures and processes of government, such as the functions and accountability of ministry (government department), departments in the executive (government), exe ... that is responsible for the oversight and administration of specific functions, such as an Administration (government), administration. There is a notable variety of agency types. Although usage differs, a government agency is normally distinct both from a department or Ministry (government department), ministry, and other types of public body established by government. The functions of an agency are normally executive in character since different types of organizations (''such as commissions'') are most often constituted in an advisory role—this distinction is often blurred in practice howe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virginia General Assembly
The Virginia General Assembly is the legislative body of the Commonwealth of Virginia, the oldest continuous law-making body in the Western Hemisphere, the first elected legislative assembly in the New World, and was established on July 30, 1619. The General Assembly is a bicameral body consisting of a lower house, the Virginia House of Delegates, with 100 members, and an upper house, the Senate of Virginia, with 40 members. Combined, the General Assembly consists of 140 elected representatives from an equal number of constituent districts across the commonwealth. The House of Delegates is presided over by the Speaker of the House, while the Senate is presided over by the Lieutenant Governor of Virginia. The House and Senate each elect a clerk and sergeant-at-arms. The Senate of Virginia's clerk is known as the "Clerk of the Senate" (instead of as the "Secretary of the Senate", the title used by the U.S. Senate). Following the 2019 election, the Democratic Party held a ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
