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Recent articles
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Lawmakers Pass Bill to Refresh Study on Value of PERA’s Defined Benefit Plan
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News You Should Know: Insurers Warn Medicare Advantage Rate Cut Could Lead to Higher Premiums
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News You Should Know: Proposed Budget Includes Pay Raises for State Workers
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Defined benefitAlso known as a pension, this is a type of pooled retirement plan in which the plan promises to pay a lifetime benefit to the employee at retirement. The plan manages investments on behalf of members, and the retirement benefit is based on factors such as age at retirement, years of employment and salary history.