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Common Cents@Your Library and Smart Investing@Your Library: Pensions

Common Cents@Your Library is a financial literacy information resource program provided by the Saratoga Springs Public Library. This GUIDE supports this program and is made possible by a grant from the FINRA Investor Education Foundation and the ALA.

Pensions

  • Vesting Schedule Information: http://retireplan.about.com/od/401kplans/a/vesting.htm   This Web page describes the various types of vesting schedules where workers obtain a legal right to their employer’s contributions to a retirement savings plan.
  • New York State and Local Retirement System: http://www.osc.state.ny.us/retire/members/vesting.htm   This Web site provides information about the vesting requirements for the defined benefit pension plan for New York State employees.  Benefits for members in different pension plan tiers are explained.
  • Pension Benefit Guarantee Corporation (PBGC): http://www.pbgc.gov/    This Web site provides information about the federal government agency that guarantees certain benefits to eligible private sector workers whose employer’s defined benefit pension is not financially sound.