Word: pension
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...wished to receive the profits they believed they had earned with me or to redeem their principal, I used the money in the Chase Manhattan bank account that belonged to them or other clients to pay the requested funds. The victims of my scheme included individuals, charitable organizations, trusts, pension funds and hedge funds. Among other means, I obtained their funds through interstate wire transfers they sent from financial institutions located outside New York State to the bank account of my investment advisory business, located here in Manhattan, New York and through mailings delivered by the United States Postal Service...
...Lula argues his antipoverty crusade fueled the economic growth. It's a chicken-and-egg debate, in which both sides are right. What matters is that social stimulus programs like Bolsa Família have been matched by fiscal measures like a reform of Brazil's engorged civil service pension system. "It's called doing things right," says Lula. "Allowing the rich to earn money with their investments and the poor to participate in economic growth...
...planning is a relatively new thing. People - like my dad, and probably yours - used to go to work for one company right out of college or the military, stay there for 30-odd years, get an orderly series of promotions and raises, and then retire with a nice guaranteed pension. How quaint! Those days are never coming back. So new grads need more comprehensive tools for plotting their future, because ... well, because the world has gone nuts. Brooks, who is director of liberal-arts career services at the University of Texas at Austin, provides those tools in the form...
...math looks like this, he said: his pension pays him a little more than $50,000 before taxes, out of which he pays about $800 a month for medical insurance. That leaves some $2,400 a month, he said, for his mortgage and other expenses. He has about $15,000 in unpaid medical bills and a similar amount in missed house payments. He has no significant assets; his home equity is gone. Houses comparable to his in more desirable neighborhoods are selling for less than the amount he owes to the Bank of New York Mellon. As the saying goes...
...some economists as evidence that Beijing's massive monetary and fiscal-stimulus measures are kicking in. In November, the government announced a $586 billion spending package, mainly in new infrastructure projects, and since then, policymakers have introduced a long slate of measures to boost consumer spending. The government raised pension payments to retirees from state-owned enterprises, hiked teacher salaries, cut sales taxes on some vehicles and subsidized purchases of appliances for rural consumers. Some local officials have even issued spending coupons. The effort to keep growth going at all costs will continue, the optimists say. "China needs to build...