Word: pension
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...between the sexes. But the Supreme Court has ruled that insurers offering retirement plans may not [July 18]. Equality has become so strong a dogma that we refuse to accept the fact that women do live longer than men. Thus by demanding that men and women contribute equally to pension plans and receive equal payments, the court is requiring men to subsidize women...
Both were evident last week. Health and Human Services Secretary Margaret Heckler testified on Capitol Hill for a bill providing for enforcement of child-support payments. A group of Republican Congresswomen met with White House staffers to discuss child-support and pension reform. Schneider called the meeting "a significant signal that the White House is serious" about portions, at least, of the Economic Equity Act. This is a complex package of legislation on pension reform, tax relief, insurance discrimination and child-care issues developed by the Congressional Caucus for Women's Issues...
...Switzerland's Trade Development Bank. The deal puts American Express back into the mutual-fund market, which it left in 1975. IDS is one of the top ten American managers of mutual stock-and money-market funds. It runs 14 pools with total assets of $9.6 billion, manages pension portfolios worth $4.1 billion, and underwrites and sells life insurance and annuities. In all, IDS owns or manages assets valued at $17.6 billion...
...were later discovered on the Louisiana muskrat farm. Vermilion now collects royalties on 60,000 acres of land in Louisiana. Last year the company had profits of $1.6 million on sales of $6.2 million. It has only four employees and obviously no mandatory retirement age. Vermilion has a pension plan, but Boyd is not included...
...result will be a rate free-for-all that could make certain high-risk groups, like male teen-age drivers, uninsurable. Moreover, they contend that converting to unisex could cost the industry billions in added liabilities and administrative expenses. "The near-term jolt will shake the insurance and pension systems to their foundations," says Daniel McGinn, an official with the International Foundation of Employee Benefit Plans. "And the long-term impact could be disastrous...