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(Financial services coach) Understanding Public Employee Retirement Systems

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By Barton Simmons

 The Public Employee Retirement System is for government employees except for teachers and students. This is a mandatory membership and all members should fill out a form of application at the beginning of their employment. It is a benefit plan that gives benefits to employees once they retire. This will be based on the number of years they rendered service and on their average salary.

The Public Employees Retirement system also covers survivor and disability protection. The system also allows those with 30 years of service to file for an early retirement. They also provide death benefits and beneficiary benefits. Every Public Employee Retirement System of every state is committed to ensuring the retirement benefits of every employee.

Contributions are deducted from the employee’s payrolls. The amount may vary for every employee depending on their retire plan and coverage. Currently, the contribution rate is 8.5 percent of the salary of an employee and will increase up to 9.5% in the year 2007. Employer contributions however, range from 13 to 17%.

The benefits that you will get once you retire are dependent on your contribution and position as well as your employer’s contribution. The benefits are fixed depending on the legislation set by every state. That is why it is always recommended for members to know their benefits and coverage so that they can get the most of their contributions once they retire.

Although the Public Employee Retirement System is compulsory for all employees, there are still criteria that you have to meet to become a member. Here are the criteria that you need to meet to become a member for most states’ Public Employee Retirement Systems:

1. The applicant should be a regular employee and the annual salary of the applicant should be $1,500 or higher.

2. The applicant’s position should be under the coverage of the Social Security System.

Generally, these are some of the most common grounds for ineligibility:

1. If the person does not meet the minimum annual salary required which is $1,500.

2. If the applicant is not covered by the Social Security.

3. If you are a temporary employee

4. If you are currently employed by the Job Training Partnership Act and being paid by their federal funds.

5. Students who are employed by their schools and universities where they attend regular classes sometimes may not qualify for the PERS.

6. Inmates in correctional institutions are not eligible.

7. Mental health and retardation patients do not qualify for the Public Employee Retirement System.

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Finding Banking and Leasing for Work Trucks can be a Acquisition and Financing, Opportunity.

By J.M Luna

 Locating lending and leasing for Work Trucks, such as big rig trucks, used dump trucks, cement trucks, concrete trucks, car carriers, expeditors, concrete and construction trucks, day cabs, heavy duty trucks, class 8 trucks etc can be a acquisition and

lending, leasing opportunity.

In the current days market is all over the place and traditional work truck financing and banking has dried up at countless lending institutions and/or banking lenders. Work truck owners can search for and find special financing and monetary in the secondary markets where there are repossessions and off lease trucks to be secured for purchase.

These possession opportunities and related lending are spread out from California to the East Coast and enables start up and veteran owner operators an unique occasion to acquire work trucks, trailers and related things for little or possible no money down

Selected dealerships are tied to regional lenders for built in financing on these trucks. The clearance of these work trucks and interconnected trailers are paramount for these dealerships and lenders to continue operations.

Some institutions offering repossessions and off work trucks in the repo market offer these trucks with a minimal credit score of 525. This gives the startup and/or weathered business an chance to commence and/or expand their fleet with bad credit. This opportunity would have never existed in the earlier. Additional lenders offer no credit check but are reference and income driven to make sure they have qualified a good quality candidate to take over one of their over the work trucks.

The work truck leasing and financing doesnt stop here, others financial institutions with good quality credit and time in business offer no down payments and up to 60 months to repay. This obviously gives the over the work semi truck owner operator an rare chance to purchase work truck banking . Other work truckleasing. banking programs begin at 575 and the down costs can be anywhere from 6-10% down based upon the applicant and the specific work semi truck. In addition, if you are a hard cash buyer, there is significant opportunity to purchase a work semi truck at a significant discount

In today’s economy, we have even found reference driven banks, credit reports arent considered as the vital criteria for leasing and banking . Former bankruptcies can be a roadblock for many finance opportunities, however these banks will explore them on a deal by arrangement basis and in nearly all instances will not be a arrangement busterAll trucks are reconditioned and subject to your inspection previous to release.

The residual buyout clauses in these banks can range from a $1.00 buyout to

15% residual buyout( Trac lease) So it is crucial to be familiar with your buyout clauses and the consequence on the passing of title.

The types of work trucks we are talking for financing and financing are built by:

Peterbilt, Kenworth, Freightliner, Mack, International, Volvo. Sterling, Ford, GMC etc

Dont forget the banking deals on drop deck trailers, drop deck trailers, and gooseneck trailersThis may possibly consist of manufacturers such as Wabash, Doonan, Utility, Wilson, Fontaine, Recent , Remarkable Dane and Vanguard

In conclusion/close, this is a buyers marketplace for owner operator trucks, and trailers, Check out all the deals in the marketplace and make sure that you have a stable income base to assume anything debt that you may possibly occur.

Happy shopping for your acquirement and its related work truck lending

Finding Financing and Leasing for Work Trucks can be a Acquisition and Banking, Opportunity.

J.M Luna has over thirty years experience in the financial field.This includes accounting, taxes, leasing, hard asset money and commercial lending..U.S Corporate Capital Leasing assists the start up and seasoned business for financing in all different fields..

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Thursday, March 18th, 2010 at 11:25 pm and is filed under finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.