Word: pension
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...root cause of all this trouble is that individual investors are vanishing from Wall Street, leaving more than 70% of the stock trading to be done by institutions such as banks and pension funds. Last year, the number of stock owners in the U.S. declined for the first time since the N.Y.S.E. began counting in 1952, and holders of mutual-fund shares sold more than they bought for the first time since record keeping began in 1941. Odd-lotters, who trade fewer than 100 shares at a clip, withdrew a whopping $2.3 billion from the stock market last year...
Syria could help finance a Disney World on the Golan Heights, and Iraq and Algeria face each other in a super soccer stadium at Sharm el Sheikh. Yassir Arafat could retire on a pension, Anwar Sadat take a job as headwaiter in a kosher restaurant, and Colonel Gaddafi mount his white camel and ride off into the desert forever...
...pension plan will include both Corporation appointees and non-appointed staff. Hourly employees of the University are unionized, and the revised plan has already been accepted by most of their agents...
Certain refinements remain to be incorporated into the program's application to non-teaching faculty, among them the definition of a "faculty member" for purposes of pension evaluation...
...Corporation appointees, a compromise has been effected permitting a graduated scale of pension payments depending on the age of the appointee...