December 29, 2008
Maine noted in public retirement report
By Mainebiz News Staff
Maine and Hawaii were singled out in a new U.S. Census Bureau report as the only two states that operate just one public-employee retirement system. That compares to 900 public-employee retirement systems in Pennsylvania and 350 in Illinois, a Census Bureau press release stated. Each year, the bureau issues statistics on the financial activity of the nation's state and local public-employee retirement systems. The report for fiscal year 2007 found that state and local government defined-benefit employee retirement systems paid $168 billion to 7.5 million retirees and survivors, a $12 billion increase from the previous year, the release stated. The structure of retirement systems varied widely among states.
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