Word: pensions
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Dates: during 1990-1999
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...trick, then, is to keep enough money in the safest high-grade bonds (and in cash) so that you can live off that money--along with your Social Security and pension--during any five-year downdraft in the stock market. That way you're unlikely to be forced to sell your stocks when their price is down. Any money you won't need for at least five years should be invested in a diversified portfolio of stocks or actively managed stock mutual funds...
Companies that deal in tobacco, belch sulfur dioxide, support Planned Parenthood, finance risque movies...the verboten list will be endless. Consider how city pension funds and university trust funds are pulled in and out of politically (in)correct investments at the behest of pressure groups--and multiply that by a thousand...
After his breakthroughs on wages, Reuther pressed for improved benefits. He had a penchant for slogans, and they often became rallying cries for the union's programs. "Too Old to Work--Too Young to Die" was one, used to negotiate pension plans. "Thirty and Out" was aimed at a contract clause permitting retirement after 30 years of service, regardless of age. "We Live by the Year--We Should Be Paid by the Year" was behind the demand for a guaranteed annual wage. The ultimate bargaining victory was the Supplementary Unemployment Benefit, which now mandates a 95% replacement of wages...
Yesterday, TIAA-CREF, one of the world's largest pension systems, announced that Assistant Professor of Political Economy David I. Laibson '88 and Jeremy B. Tobacman '99 had won a Certificate of Excellence for their paper titled "Self Control and Saving for Retirement...
...appreciation that has become increasingly vital for kids, says David Brady, manager of the Stein Roe Young Investor Fund, a mutual fund geared toward children and young adults. "With the future of the social security system in doubt and with pension plans dying out as a concept, these young people will have much more responsibility for their financial future than prior generations," Brady says. "They need to have good fiscal sense...