Word: pension
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National's stock has climbed almost $10, to $23, since the buyout began to look promising last year. Most security analysts view the deal as favorable for National, the fourth largest steel producer in the U.S. Closing Weirton would have saddled the company with $180 million in pension costs, according to one study. About one-third of the workers started with the company at least 30 years ago, which makes them eligible for full retirement benefits. They have chosen to stay on the job anyway. To induce them to vote for the plan, National will assume all pension costs...
Nixon said that a special group of Washington pension tax lawyers from Harvard's law firm. Ropes and Gray, had analyzed the proposed changes to the tax code and the University had expressed their "concern...
Conferees took out a section of the bill which would have increased the tax that an employer has to pay into the Private Pension Fund, which would have affected the plans which Harvard faculty have with the University...
...Pension progress, job troubles
...West Germans were unemployed, the federal government paid out nearly $6.7 billion in various jobless benefits. Last year the total was around $9.7 billion. Similarly, in 1970 West Germany paid out about $48 billion, or more than 16% of the country's entire output, for health care and pension schemes/In 1980 the total had reached $136 billion, or nearly 22%. Says Herbert Giersch, director of the Institute for World Economics at Kiel and a member of TIME'S European Board of Economists: "The country's social welfare net needs basic structural changes. Public deficits cannot be filled...