Word: contract
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Dates: during 1970-1979
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Changing demographics, and high inflation, spell trouble for the funds A pension bomb threatens the U.S. economy. Its fuse may now seem comfortably long, but it is indisputably burning. The toughest issue in the negotiations for a new contract between General Motors and the auto workers was not demands for more pay for the U.A.W.'s 460,000 workers on GM's pay roll, but for increased benefits for its fast-growing legion of retired employees. A big reason why policymakers in Washington are agonizing heavily over Chrysler's petition for federal help is the stark fact...
...General Motors negotiator. Both were praising a rare peaceful settlement, arrived at in a final flurry of horse trading at GM's imposing stone headquarters in Detroit just 4½ hours before a strike deadline. For the first time in 15 years, the autoworkers had reached a tentative contract agreement without going on a national strike. The three-year pact was concluded with GM but sets the pattern for the industry and covers 780,000 workers...
...prices. During the next three years, workers under 62 who retire after 30 years on the job will get $800 a month to start. Then they will get two in creases in the first year and further boosts in the second and third year. At the end of the contract these retired workers could be receiving as much as $935, or 33.5% more than the present pension level. Pensioners already retired would also get raises, depending on age, length of service and when they left work. A retiree now receiving $700 a month will receive...
...most unpredictable budget items were in accounting categories like "payments to other departments," "all other expenses," and "contract overhead"--money the Faculty receives from the government to pay for laboratory space and other services to professors on federal research contracts...
Richard G. Leahy, associate dean of the Faculty for resources and planning, says contract overhead income rose in proportion to an overall increase in federally-sponsored research at Harvard...