Word: pension
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...abruptly pushed Paul, 49, into retirement. The move came one day after a prodemocracy march by fiercely nationalistic Haitians turned into an anti- American protest and a rally for Paul. At 10:30 p.m. last Friday, a televised bulletin announced that Paul had retired from the army with a pension of $960 a month. Paul negotiated the agreement with Lieut. General Prosper Avril, his 1961 classmate at Haiti's military academy, who is now President of the country. Lieut. Colonel Guy Francois, Paul's U.S.-trained second-in-command, was named to succeed him as head of the Dessalines barracks...
...Billy Forrester, Bob's eldest son, 25, has gone to work "on the boats." He is married, has a child, and is a member of the Inland Boatmen's Union, just like his father. He works as a deckhand, making $11 an hour with full medical, dental and pension benefits. During his last full year in that work, he cleared $27,000 and saved $8,000, nearly enough for a down payment on a small house. The problem is that his company, United Towing, has just gone the way of dozens of other harbor companies: it has busted Billy...
...definitely better off than my father was," says Bob. "We have a nicer place, my retirement will be more comfortable than his." Bob now makes $40,000 as a union official, owns three houses and a lot, collectively worth $600,000, and when he retires will receive a pension of $1,600 a month from his union in addition to Social Security...
...only 23% of all trades on the New York Stock Exchange, down from 29% last October and 50% in 1970. On some days their participation drops as low as 10%. The rest consists of transactions carried out for institutional investors, including brokerage houses trading for their own accounts and pension funds...
...real disaster has been avoided. No killer virus has penetrated the country's electronic funds-transfer system, which is essential to the operation of the nation's banks. No stock- or commodity-exchange computer centers have crashed. No insurance-company rolls have been wiped out. No pension funds have had their records scrambled. No air-traffic-control systems have ground to a halt. And the U.S. military-defense system remains largely uncompromised, although there have been published reports of virus attacks at both...