Word: california
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Dates: during 1970-1979
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...receiving $6,000 a year from that fund and finding it mighty hard to make do. Earlier retirement, mean while, is shortening the period during which people contribute to pension funds and stretching out the years during which they receive benefits. A decade ago, California teachers averaged 28 years in the classroom, but now they are leaving after 21 years. The average Army enlisted man retires at about 40-and then collects a pension for more than 30 years...
...while making insufficient contributions to pension kitties. The General Accounting Office watchdogs reviewed at random 72 state and local government pension plans and found that 53 of them failed to make contributions on the level required by the Federal Government of private corporations. Says Michael Thome, head of the California state teachers retirement system: "Pension costs have been pushed into the future for somebody else to pay. Now, that day has arrived...
...surprise bid to acquire Macmillan, Inc., the old-line publishing conglomerate that brought out Richard Bach's 1970 bestseller about a mythical seagull. In doing so, the big broadcaster (1978 revenues: $1.8 billion) upset merger talks that had been going on between Macmillan and Mattel, Inc., the California-based toymaker that grew big on sales of Barbie dolls but which is still less than one-third ABC's size. ABC's offer of $335 million for a controlling 55% of Macmillan's shares was just $6 million sweeter than Mattel's bid, but the betting...
...mother had died, leaving Mrs. Meeder canineless. As usual, however, there were leaks in high places. One was that Amy's pet was sent back because, after 2½ years, it still was not White House broken. · It may be the only gym that contributes profits to California's Campaign for Economic Democracy, solar energy, tenants' rights and better housing. It could only be located in Beverly Hills, and the proprietress could only be Jane Fonda, who founded her health salon after discovering how exercise helped her slim down for her bikini-clad role in California...
Carson says that he does not. Basing his case on a California law barring certain personal contracts from being extended beyond seven years, he claims that he has in fact been a free agent since last April-seven years from the signing of his 1972 pact. NBC asserts that there have been three separate agreements since then, the last of which not only gave Carson more money but reduced the hours he has to spend as host of the Tonight show...