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Welcome to Wikipension

Wikipension is a knowledge management resource for and about the community that governs, sponsors, and administers retirement benefits for employees of state and local governments[1] in the U.S., and the firms that provide services to these entities.

A pension is a tax-deferred savings vehicle that allows for the accumulation of assets for later use as retirement income. A pension is paid in regular installments, usually for the remaining life of the person receiving the benefit.[2]

According to the U.S. Bureau of Labor Statistics, nearly 90 percent of employees of state and local government have a traditional pension, or defined benefit plan, as their primary retirement benefit.[3] By contrast, less than one-fifth of the working population participates in a DB plan. About three-fourths of private sector employees have access to an employer-sponsored retirement benefit, and approximately two-thirds of those eligible elect to participate. Thus, just over one-half of the private sector workforce participates in an employer-sponsored retirement benefit.[4]

Public pension benefits are administered by some 2,500 different public retirement systems in the U.S. [1] Together, these systems administer defined benefit plans for more than 15 million working and eight million retired public employees, distributing more than $180 …