List of largest pension schemes in the United States and Their Types

The United States is home to some of the largest pension schemes in the world. The largest pension scheme in the US is the Federal Employees Retirement System (FERS) with over 2.7 million participants.

One of the notable types of pension schemes in the US is the Defined Benefit (DB) plan. DB plans are designed to provide a predictable monthly income in retirement based on a formula that takes into account salary and years of service.

The Federal Employees Retirement System (FERS) is a classic example of a DB plan, offering a guaranteed benefit to federal employees upon retirement. This benefit is based on the employee's final salary and years of service.

Another type of pension scheme is the Defined Contribution (DC) plan. DC plans, such as the Thrift Savings Plan, allow employees to contribute a portion of their salary to a retirement account, which is then invested to grow over time.

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The largest pension schemes in the US are a significant part of the country's retirement landscape, with many plans managing billions of dollars in assets.

The CalPERS plan, managed by the State of California, tops the list with a staggering $336,684 million in total assets. This is more than double the assets of the second-largest plan, CalSTRS, which has $216,193 million in assets.

These two plans are followed closely by the New York State Common Retirement plan, which has $201,263 million in assets. The New York City Retirement plan ranks fourth with $189,794 million in assets.

The largest pension schemes in the US are dominated by public pension funds, with 29 out of the 30 largest plans being public pension funds. The only private company on the list is TD Ameritrade, which ranks 3rd in the US Pension Funds Top Companies list.

Here is a list of the top 5 largest pension schemes in the US, based on the article:

These plans are managed by a range of different organizations, including state and local governments, and private companies. The Public Plans Database (PPD) provides a wealth of information on these plans, including plan-level data and retirement system data.

In the public sector, defined contribution plans are a common type of pension plan. These plans are offered by over one hundred public sector employers.

The public sector defined contribution plan dataset includes information on 401(a), 457, and 401(k) plans, as well as cash balance plans. These plans often have a mix of mandatory and optional features.

Public sector defined contribution plans can be either supplemental or primary, and they may include a range of investment options.

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Defined Contribution Plans are a type of pension plan that's common in the public sector. They're offered by over one hundred public sector employers.

These plans provide data on membership, assets, investment options, contributions, plan type, and plan provisions. The data includes 401(a), 457, and 401(k) plans, in addition to cash balance plans.

Public sector defined contribution plans can be either mandatory or optional, and they can be either supplemental or primary plans. This means employees may have multiple plans to choose from.

The data is available for download, along with a codebook to help you understand the information.

Disability law is a crucial aspect of public sector pension plans. Approximately 70 percent of all public sector workers not covered by Social Security rely on state and local disability benefits.

These benefits are governed by 67 state and local programs, which have their own rules and regulations. Workers become vested in these programs at different times, with some requiring 5-10 years of service to qualify.

The types of disabling conditions covered vary from program to program, but most include common ailments like injuries, illnesses, and mental health conditions. Benefits levels also differ, with some programs offering a percentage of the worker's salary and others providing a flat rate.

The data collected from public sector retirement systems reflects benefits across occupations for workers hired in 2020. This information can be useful for those considering a career in the public sector or already working in it.

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