Tuesday, June 10, 2008

National Compensation Survey: Retirement Benefits in State and Local Governments in the United States, 2007
"Eighty-two percent of State and local government employees participating in defined benefit retirement plans were covered by early retirement provisions in 2007. Almost all workers (95 percent) were in plans with disability retirement provisions, and more than half (56 percent) had portability provisions. Virtually all workers
participating in defined benefit plans had their retirement benefits calculated on the basis of their preretirement earnings. Ninety-three percent of participants were in plans allowing newly hired employees to participate; the remainder were in plans that are closed to new employees. Eighty-one percent could begin their plan participation immediately upon being hired."

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