Word: pension
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...next controversy arose over 1971 changes in the Coop pension and life insurance programs. Under the changes, the ceiling for life insurance coverage shot up from $20,000 to $60,000 and beyond for a number of highly paid executives...
Steele decided to run again for the board last February, after he quit the Law School post to protest Coop hiring policies and pension changes...
...addition to his own system of unwritten laws, Clunies-Ross has devised a social welfare program that includes optional retirement with pension at 60, free health care and housing. Most families have two boats, one for fishing and one for leisure. Education is voluntary, but "school days may end abruptly," notes Clunies-Ross. "Anyone who doesn't respond or is lazy gets sacked." Children go to work at 14, usually as apprentices in a trade. Clunies-Ross said that he did not want the Malay children to have an Australian standard of education because it would lead...
...legislature, hoping, to find new ways to squeeze blood from anemic taxpayers, passed a levy on stock-pension plan offered only by universities, which substantially worsened the bite on professorial retirement pay. Since the bill passed late in the session furious efforts to urge reconsideration of the measure were dimmed by the press of legislation, and only "the House rescinded the measure. We hope to get it passed in the Senate this session." Schmidt said last week...
...that Wall Street was still geared to a bygone age of relatively slow trading by individual investors dealing in 100-share lots; the stock exchanges could not cope with the demands of a new era in which big-block trading by institutions THE NEW YORK such as mutual funds, pension funds, university endowment funds and insurance companies regularly pushes volume on the New York Stock Exchange over 15 million shares daily...