In October 1998, State and Local Governments Employed 41

question 21

True/False

In October 1998, state and local governments employed 41.7 percent of public-sector, full-time civilian employees residing in the United States.

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Definitions:

Retirement Income

The funds or revenue that an individual receives after retiring from active employment, often derived from savings, investments, pensions, or social security benefits.

Defined Contribution Plan

A retirement plan in which the employee, employer, or both make contributions on a regular basis, but the benefit received upon retirement depends on the plan's investment performance.

401k Plans

A retirement savings plan sponsored by an employer that allows employees to save and invest a portion of their paycheck before taxes are taken out.

Employer Match

A contribution made by an employer to an employee's retirement plan, equal to a certain percentage of the employee's own contributions.