Word: pension
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...Johnson looks far beyond Tokyo to the rest of a rapidly prospering continent. Fidelity already manages pension assets in Australia, and began selling mutual funds in Taiwan in 1986 and in South Korea in 1995. From regional headquarters in Hong Kong, the company is studying the Malaysian and Philippine markets as well...
...year after after foes narrowly lost a bitterly contested referendum but succeeded in writing the laws so that divorce will be a cumbersome bureaucratic procedure for the country's estimated 90,000 separated couples. To end a marriage, couples must first assemble a mass of sworn statements on finances, pension rights, health care benefits and child welfare before a court hearing date can be set. Next step: meeting the eligibility requirements. According to the constitutional amendment, contested divorces are allowed if the couple has been separated four of the past five years and if there is no "reasonable prospect...
True to Wall Street form, the new titans are exploiting their influence. Mutual-fund manager Michael Price actively pushes for change at companies--Dow Jones is a recent target--in order to improve their laggard stock prices. Meanwhile, the California Public Employees' Retirement System (CalPERS), the nation's largest pension fund with a mountainous $108 billion under management, each year flaunts a list of losers it owns to try to embarrass CEOs into remedial action. CalPERS and other managers--be they of mutual funds or public or private pension funds--have generally wielded their clout for the good...
...acronym for a new class of U.S. government bond that went on sale last week--and quickly turned into the Treasury Department's version of Tickle-Me Elmo. The new wonder bonds, known as Treasury Inflation Protection Securities, were snapped up by institutional investors such as insurance companies and pension funds, which lugged $37 billion to the table, even though only $7 billion worth of the 10-year notes were actually up for sale...
Whatever happens, most of his $3 million-plus net worth would be protected. He could borrow against his retirement funds to buy a new home and bridge the gap until his pension checks started arriving. In the meantime, rumors still swirl about Simpson's hidden money. There is one piece of evidence that suggests, in spite of his protestations, that he just might have some free cash. Last summer, after he complained publicly about his dire finances, Simpson was able to come up with $685,248 to clear an IRS lien on his home...