Word: pensions
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Dates: during 1990-1999
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...sure about his melt-up prediction: a 20% Dow gain in the first quarter, Cleland forecasts. But I buy into the case for a strong market big time. Many companies fund their pension obligations in January, giving the market a boost. And there really is a January effect. Stocks that had been sold purely to lock in tax benefits the previous year tend to get noticed and bid higher early in the New Year, often resulting in a rally led by small stocks. There will have been plenty of tax selling by the end of this year. Roughly...
TIAA-CREF, which manages pension funds for Harvard, Tufts and Boston University, holds over 300,000 shares in Talisman, according to the AASG...
What with lingering questions about Social Security and the demise of the traditional pension, Americans have embraced stocks as never before. The number of individuals owning stocks or stock funds has swollen to 78 million, up from 42 million in 1983. Our 401(k) accounts are bulging, and there is encouraging evidence that the masses are behaving smartly--by diversifying and holding for long periods...
...referred me to their president, Ed Silvey, who repeatedly did not return my calls. Walter W. Crow, the in-house counsel for UNICCO, faxed me a statement that "UNICCO pays its full time employees throughout Cambridge a wage not less than $9.20 an hour" and that they also receive pension and health insurance. "Part time employees receive not less than $8.25," he wrote, and "all employees receive paid vacations, jury duty pay, bereavement pay, personal days, and holidays." Adding these up, Crow contended "The combined value of wage and benefits exceeds $10 per hour... UNICCO believes itself to be already...
...investigating cash balances' legality. And last week Representative Bernie Sanders, an independent from Vermont, introduced a bill that would hit companies with tax penalties if they switched to a cash-balance plan without giving all workers the option of staying in the old one. "Millions of Americans are feeling 'pension anxiety' because under current law there is no guarantee that their pension benefits will not be cut tomorrow," says Sanders...