Word: pension
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...abandon an earlier proposal that called for unspecified "saving" of $40 billion in Social Security over the next three years. Instead, the Republicans substituted a vague directive to Congress to do whatever may be necessary to prevent the Social Security system from running out of money and keep pension checks going out on time, but not to take any action until after the November elections. Indiana's Dan Quayle protested that the resolution was "a cop-out," which indeed it is. But Minnesota's David Durenberger effectively ended the argument by telling his G.O.P. colleagues that...
...other revenues to make any payments that cannot be financed by the payroll tax. Former Social Security Commissioner Robert M. Ball contends that the system could get through the '80s with relatively small "borrowings," which could be repaid, with interest, out of the reserves that the pension fund will again begin to accumulate...
Slow the Growth of Benefits. Despite much demagoguery, no one is talking about snipping so much as a penny off present benefits; anyone now receiving an average pension check of $379 a month can count on continuing to collect at least that much, unless the trust funds do indeed run dry. But it seems imperative to keep future inflation from pushing up benefits as rapidly as it did from 1975 to 1981. Besides saving money for the trust funds and helping to trim the overall budget deficit in the short run, a limit on future increases could also help build...
Debates over what to do about Social Security in forthcoming federal budgets initially focused on quick, temporary ways to conserve cash. Among the suggestions: a one-year freeze on cost of living adjustments (COLAS) in Social Security pension benefits and many other federal programs, an idea first put forward in February by Democratic Senator Ernest Rollings of South Carolina, which would save $11.3 billion; and a three-month delay in the COLA that might be paid in July 1983 (estimated savings: $3.3 billion at an 8% inflation rate), a plan advanced by Senate Republican Leader Howard Baker in an unsuccessful...
...system, put into effect this past spring, and its aggressively discounted fares, offered beginning last fall. Said Steven Suhn, 30, a Braniff reservations supervisor: "We had two yards to go before the goal line." There were worries, too, among older Braniff employees over what would happen to their company pensions. They are protected under a 1974 law that guarantees at least part of their retirement pay if Braniff ends its pension plans...