Word: cents
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Dates: during 1970-1979
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...They may be that, but it's a drop in the ocean. They affect so few black workers--much less than 1 per cent. I think that's irrelevant anyway because the black leaders themselves have discounted this. I think that claiming to be helping black South Africans is often the umbrella under which the corporations rationalize their participation in the South African economy...
...University is by no means generous with its pension system. The University's plan is based on credited service and a final average base wage rate taking into account the worker's social security benefits. A worker who retires after 25 years of continuous service will receive 60 per cent of his "high-five pay" (the highest average of the worker's base wage rate during five consecutive years in the final ten years of service) minus 80 per cent of his social security income. The theory behind this "integrated" plan is that an employee should not receive in retirement...
...into consideration is the continuing high level of inflation. Dianne Bennett, former attorney advisor with the office of tax legislative counsel at the Treasury Department, suggests that this is the main argument against any type of integrated plan. She says even if social security were subtracted from 100 per cent of the pre-retirement average high wage base, inflation would still discriminate against the integrated plan recipient...
WHAT makes this more serious is that the lowest paid workers are those saddled with integrated plans. Harvard's 80 per cent social security offset is the highest currently allowable by law. In his tax reform package presented to Congress last January, President Carter asked for a limit on social security integration. Bennett, who worked on the tax proposals, says she personally believes the integration proposal did not go far enough, but adds that Congress nixed integration reform from the package anyway due to pressure from employer organizations. The AFL-CIO has consistently opposed integration. AFL unions around the country...
...eight marshals were chosen from 43 Harvard and 19 Radcliffe candidates, Koivumaki said. He added that about 50 per cent of the senior class voted in the election late last week among the 16 previously selected finalists...