Word: optioned
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Dates: during 1990-1999
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...meant that, along with quite a few of his Harvard peers, Kevin got booted from banking. The immense losses sustained by the banks resulted in huge staff cuts. What was one to do then with Street hiring in tatters and Harvard diploma in hand? Kevin's best option was a Connecticut financial planning company, and it was livable, but it wasn't close to what he wanted to be doing with his life. Now he's a Vermonter, ski instructing by day and acting, directing and producing by night, playing out an undergraduate passion for theater initiated in a Dunster...
...latter option seems to be the optimal choice as it allows even those who were (God-forbid) wait listed to the College (and those whose post offices are slower) to participate...
...most market-oriented option, backed by five of the council's 13 members, would direct 40% of the Social Security payroll taxes now collected from each worker and his employer into a new personal security account, similar to the 401(k) and IRA accounts already familiar to most Americans. A second option, backed by two other council members, would allow a lesser degree of individual control. But to hear the howls of protest from union leaders, the seniors lobby and many Democratic lawmakers, you might think the pro-market council members had proposed to hand the keys to the Treasury...
...majority of Americans can afford to save for their own retirement, and will need to do so. But even the personal-security-account option suggested by members of the Social Security advisory council would guarantee today's benefits for everyone over the age of 55 in 1998, while phasing in those between the ages of 24 and 54. And the system would maintain a safety-net program that would prevent any retiree from sinking into poverty. "No matter how you ask the question," says Republican pollster Robert Teeter, "Americans strongly support taking care of our seniors and anyone else...
...members of the advisory council, including a former Social Security commissioner and three union leaders, backed a third option that would allow government bureaucrats, rather than individuals, to invest up to 40% of Social Security's assets in the stock market. It would also increase payroll taxes--not in exchange for higher retirement benefits but for lower ones than workers were promised back when taxes were lower. And when might this promise, like the others, become inoperative? No one can say. Little wonder that many workers now judge that their nest egg would be safer in their own hands than...