Tools commonly used in the Government-Pension Health/Welfare Funds industry for day-to-day tasks and operations.

• Actuarial software
• Investment management software
• Benefits administration software
• Risk management software
• Compliance management software
• Financial reporting software
• Data analytics tools
• Customer relationship management (CRM) software
• Document management software
• Electronic payment systems

Common products and services typical of NAICS Code 525110-02, illustrating the main business activities and contributions to the market.

• State employee pension plans
• Federal employee health plans
• Municipal employee welfare funds
• County employee retirement plans
• Public school teacher pension funds
• Police and firefighter pension funds
• Military retirement plans
• Judicial retirement plans
• Congressional retirement plans
• Government employee disability plans

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Governmental Accounting Standards Board (GASB) Certificate: This certificate is required for professionals who work with government accounting and financial reporting. It is provided by the GASB. [1]
• Certified Employee Benefit Specialist (CEBS): This certification is provided by the International Foundation of Employee Benefit Plans (IFEBP) and is designed for professionals who work with employee benefits. [2]
• Certified Government Financial Manager (CGFM): This certification is provided by the Association of Government Accountants (AGA) and is designed for professionals who work in government financial management. [3]
• Certified Pension Consultant (CPC): This certification is provided by the American Society of Pension Professionals & Actuaries (ASPPA) and is designed for professionals who work with retirement plans. [4]
• Certified Retirement Counselor (CRC): This certification is provided by the International Foundation for Retirement Education (InFRE) and is designed for professionals who work with retirement planning. [5]

A concise historical narrative of NAICS Code 525110-02 covering global milestones and recent developments within the United States.

• The Government-Pension Health/Welfare Funds industry has a long history dating back to the early 20th century. The first pension plan in the United States was established in 1875 by the American Express Company. However, it wasn't until the 1920s that the concept of pension plans became more widespread. In 1921, the Teachers Insurance and Annuity Association of America (TIAA) was founded, which provided retirement benefits to teachers. In 1935, the Social Security Act was passed, which established a national pension system for retired workers. In recent history, the Government-Pension Health/Welfare Funds industry in the United States has seen significant growth due to the aging population and the increasing demand for retirement benefits. In 1974, the Employee Retirement Income Security Act (ERISA) was passed, which established minimum standards for pension plans in the private sector. In 2006, the Pension Protection Act was passed, which aimed to strengthen the funding of pension plans and increase transparency. The industry has also faced challenges, such as the 2008 financial crisis, which led to a decline in pension fund assets. Overall, the Government-Pension Health/Welfare Funds industry has a rich history and continues to play a vital role in providing retirement benefits to workers in the United States.

The anticipated future trajectory of the NAICS 525110-02 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The Government-Pension Health/Welfare Funds industry is expected to continue to grow in the coming years due to the aging population in the United States. As more people retire and require healthcare and other benefits, the demand for these funds will increase. Additionally, the COVID-19 pandemic has highlighted the importance of having a safety net for retirees and those in need of healthcare. As a result, the government is likely to continue to invest in these funds to ensure that they are adequately funded and able to provide the necessary benefits to those who need them.

Recent groundbreaking advancements and milestones in the Government-Pension Health/Welfare Funds industry, reflecting notable innovations that have reshaped its landscape.

• Increased Investment In Renewable Energy: Many government-pension health/welfare funds are investing in renewable energy projects as a way to diversify their portfolios and support sustainable energy sources.
• Expansion Of Telehealth Services: With the COVID-19 pandemic, many government-pension health/welfare funds have expanded their telehealth services to provide more accessible healthcare to retirees and those in need.
• Implementation Of Wellness Programs: Some funds have implemented wellness programs to encourage healthy lifestyles and reduce healthcare costs.
• Increased Focus on Mental Health: Many funds are recognizing the importance of mental health and are investing in programs and services to support retirees and their families.
• Collaboration with Other Funds: Some funds are collaborating with other government-pension health/welfare funds to share resources and reduce costs.