Word: percenting
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...actuarial value of the assets in the pension fund was $766 million, giving Cambridge’s pension plan a funded ratio of 91.96 percent—just above the 90 percent ratio that many experts say is financially responsible. By comparison, Boston’s funded ratio in 2006 was only 64.40 percent, or well below the 80 percent that is generally considered “at-risk...
While many cities and towns around the state and country have seen their public pension funds devastated amid the historic decline in the markets—losses of 20 to 30 percent over the past few months have been widely reported—city officials said that Cambridge is poised to ride out the turbulence, cushioned by a history of sound budgetary management and fiscal conservatism...
Flores and McLeod received nearly 41 percent of first-place votes, with 1,493, slightly over 39 per cent and 1,427 votes for rivals Benjamin P. Schwartz ’10 and Alnead D. Biggers ’10. After votes were redistributed according to the UC’s system, known as Hare-Clark, in which students cast single transferable votes, the Flores ticket had 1,791 votes compared to 1,634 for Schwartz...
...setbacks for the American newspaper industry. Even before Tribune—which owns the Los Angeles Times, the Baltimore Sun, and its namesake Chicago Tribune—announced its filing, the chain was wracked by layoff and forced buyouts. The Times alone lost 150 staffers—17 percent of its employees. Smaller chains, like McClatchy, are close to defaulting on their debt, and even giants like The Washington Post and The New York Times are making cutbacks.While the decline of print journalism is an unfortunate development, it is also an inevitable one. The Internet has pulled subscription and advertising...
...program significantly reduces costs for families making between $60,000 and $180,000 per year. Those making between $120,000 and $180,000 pay only 10 percent of their income, while those making under $120,000 pay even less...