Word: pension
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...increase in the per-month employee pension rate, from...
...will be ruled by bureaucrats from Islamabad. Last week the Pakistan government, which already had taken responsibility for Hunza's external affairs, communications and defense, formally absorbed the ancient feudal principality without violence. The 40th Mir, one Mohammed Janal Khan, was put out of office and on a pension...
Collective Bargaining. Until last year, the Taft-Hartley Act prevented private companies from joining with labor unions to offer legal insurance. Congress has now amended the law so that labor and management can both contribute to legal-insurance funds, as they have long been permitted to do with pension and health plans. As a result, Hugh Duffy, former chief counsel of the House Special Subcommittee on Labor, predicts: "Prepaid legal services will now be in the mainstream of collective bargaining." So far, some 25 labor unions have persuaded employers to help set up and contribute to legal insurance funds. Some...
...allowed under the Presidential Transition Act of 1963 for travel, office, staff and other costs to help a former President adjust to private life. It also includes another $400,000 under the Former Presidents Act of 1958, which provides overlapping outlays for some of the same expenses. The presidential pension of $60,000 a year is included in this and is mandatory, as is $96,000 for staff salaries, but Nixon has submitted a budget for some $250,000 that would have to be approved by Congress. Originally this broke down as follows: office furniture and equipment, $65,000; travel...
Those provisions are enough to make the act "landmark legislation" in the view of Bertran Seidman, Social Security director of the AFL-CIO. But the law does not go far enough to please many advocates of pension reform. No employer would be required to set up a pension plan. Many blue-collar workers take their first jobs at 16 but would not have to be included in pension plans until they are 25 (though they must then be given credit for three years' vesting). Karen W. Ferguson, a Washington attorney and ally of Ralph Nader, complains that not requiring...