Word: pension
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...Harvard will lower its annual contribution to the faculty pension plan by one percentage point...
...most accounts, former Soviet President Mikhail Gorbachev had a miserable job during the last two years of his tenure. But apparently retirement, at least financially, was even worse. His pension: $1.65 a week. That pittance has been boosted to the comparative bonanza of $409. The source of the generosity was Gorby's old rival, Russian President Boris Yeltsin. A rumored explanation: Russians believe Yeltsin is looking ahead to his own days on the dole...
Among the faculty, law instructors have spoken out most about the plan. They have focused their ire on Harvard's proposal to reduce the University's contribution to the faculty pension plan by one percentage point annually...
...Faculty Pension Plan Harvard's funding of the pension plan, effective July 5, 1994. Age Harvard's annual contribution Under 40 4% of pay up to wage base, 9% of pay over wage base 40 or older 10% of pay up to wage base, 15% of pay over wage base (The 1994 Social Security wage base...
Knowles has repeatedly over the last few years cried poverty in FAS, cutting the staff of the indebted Semitic Museum and calling for professors to accept reduced pension plans...