Word: payout
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Dates: during 2000-2009
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Harvard officially targets 5-percent but has fallen short of the mark in all but one of the past 10 years. Its $1.6 billion payout rate this year—while the largest in University history—still did not break the five-percent threshold...
...Grassley continued to call for a specialized form in the statement and his spokeswoman, Jill Gerber, said the Iowa senator has also still not ruled out the possibility of trying to mandate a 5-percent level of endowment payout...
...said in an interview yesterday that congressional attitudes toward endowments have shifted since Grassley first floated the idea of payout legislation...
...lenders, spooked by steep losses and high-profile bank failures, tightened their purse strings. As Harvard’s endowment has ballooned over the past decade, spending has increased in kind, with $1.6 billion in expenditures coming from the endowment last fiscal year. As late as 2005, the payout from the endowment was still under $1 billion. With the University becoming increasingly reliant on the endowment for its operating expenses, Harvard will have to hope its investments can continue to flourish in a precarious market environment. —Staff writer Wyatt P. Gleichauf can be reached at wgleich@fas.harvard.edu...
...have a fixed-rate annuity, or a life insurance policy, the ruling regulator is the state where you bought the policy. This is a little trickier. The payout AIG has promised you comes from assets it holds in its general account. If the state insurance commission believes AIG can't meet its obligations to policyholders - and a bankruptcy filing might be an indication of that - the insurance commission can step in. If that happens, there's a chance you won't immediately be able to cash out your policies, at least not without incurring a penalty. That's a tactic...