Word: pension
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...long absences of the breadwinner -- on lengthy cruises, battlefield exercises or peacekeeping missions -- add to familial stress. The military drawdown, from 2.2 million troops in 1987 to 1.5 million in 1997, compounds the problem. Soldiers and sailors who once dreamed of a secure, 20-year career and a handsome pension now find themselves facing a truncated career, no pension and bleak employment prospects in the civilian world. "Everybody is wondering about what their own careers and their own finances will be, and of course, financial issues are major contributors to family violence," McGinn says. "There's a lot of tension...
According to Rudenstine, the abolition ofHarvard's mandatory retirement age--a change thatwas dictated by federal law--has allowed someprofessors to collect more than 100 percent oftheir ordinary pension rates when they actually doretire...
...Teamsters reached a tentative agreement to end their three-week-old strike. The union successfully blocked a move to hire more part-time workers and achieved increases in pension contributions and health-care coverage...
...favor of stepping down two months early. He bargained for a statement of praise from the Secretary of the Navy, who earlier had urged him to resign for a "failure of leadership." The Senate would then vote him a four-star retirement rather than two stars, and full pension, $84,340 a year...
...Senate voted 54 to 43 to allow Admiral Frank Kelso, the Chief of Naval Operations, to retire with his four stars and full pension. But what was expected to be a low-key event turned into a bruising battle after the Senate's seven women -- Democratic and Republican alike -- united to target Kelso for his disputed role in the Tailhook sex scandal...