Word: pension
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Many businessmen have gone under after decades of success. I lost my home, career and pension. Unlike De Lorean, most of us started again from scratch without resorting to the drug trade...
Still, the tenor of the commission's discussions indicates that the problem may at last be faced realistically. The reason is obvious: the day when Social Security is expected to run out of money is close enough to force painful choices. The trust fund on which Social Security pension checks are drawn had to borrow $600 million from the separate Medicare and disability funds to write the checks that went out Nov. 3. Robert A. Myers, executive director of the commission, estimates that the fund will have to borrow upwards of $11 billion more to get through the first...
Leading the buying charge were the big institutional investors, including pension funds, insurance companies and bank trust departments. Scared of being caught on the sidelines during Wall Street's greatest rally, portfolio managers snapped up stocks at a panic pace. Their favorites were the blue chip shares of giant corporations. IBM was up 3⅜ to 85¼. AT&T jumped...
...trust fund on which the system's pension checks are drawn almost ran dry in October. It will have to borrow $1.5 billion from the separate Medicare and disability-insurance funds to send out on time the checks that are to be mailed Nov. 3, the day after the election. The trust fund will need another $7 billion to $11 billion to maintain prompt payments through the first six months of 1983. After that, its borrowing authority expires...
...year, after negotiations with officials in Puerto Rico, he won $40 million in loan guarantees from Washington and the Commonwealth for a $96 million plant in Aguadilla, a poor area 70 miles from San Juan. In addition, a group of drug companies and General Electric's pension fund were ready to pump $35 million into the project...