Word: pension
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...comments come in the wake of numerous Ponzi scheme crimes, most notably Bernard Madoff's $65 billion scam, which Shulman said was tragic but raised a "staggering array of tax and pension implications for the victims," many of whom have lost entire life savings and retirement accounts. (Read "Another Victim of the Ponzi Schemers...
...have already filed will need to go back and amend their returns, noting the new rules, and will get a filing extension to May 15, the IRS said. There are an estimated 4,800 people and/or funds who invested directly with Madoff and many more thousands who invested through pension and "feeder funds." In addition, there are an estimated tens of thousands invested with R. Allen Stanford's alleged $8 billion Ponzi and in the dozen or so Ponzis that have surfaced in the last three months...
...departure will allow the Times to continue, much less flourish," says Richman, the business reporter. For example, as many as 20,000 of the P-I's 117,000 subscribers already received both papers. Local economists say the Times' own position is dire, pointing to its two-year pension freeze and the laying off of roughly a quarter of its staff in the past year...
...personal consumption we have to give assurance to the people that they will be able to have a stable income and that their future is assured. Therefore, real income has to be raised, and we have to give a sense of security to the population through reforms to the pension system. I'm very concerned about the younger generation. They are worried they will not be entitled to any pension benefits in the future...
...sense of security they won't just put their money under the bed, they'll go out and spend it and domestic demand will grow. If people feel safe, that they're going to be able to pay their medical bills, that they're going to have a pension, then they will be encouraged to increase domestic demand...