Word: pensionable
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Dates: during 1950-1959
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...retired taxpayer's wife is 65 or over, she also gets the 20% credit on $1,200 of her own income (or, in community-property states, on the next $1,200 of joint income). Those younger than 65 who are retired under local, state and federal pension plans also get this credit, but only on their pension incomes. In computing the credit, the taxpayer must subtract from the $1,200 base his social-security payments and certain other tax-free income, plus, if he is less than 75, his earned income in excess of $900. Thus no retired person...
Although total assets of Ventures Ltd. are only about $28 million, backers of the project showed little concern over the enormous financing that will be necessary. They are confident that big insurance companies and pension funds, as well as small investors, will be willing to stake their funds on northern Canada's promising new industrial development, with its assurance of inexpensive power...
...Received from its Post Office and Civil Service Committee a bill to deny civil service pensions to Government workers who duck behind the Fifth Amendment, or who are convicted of perjury, bribery, graft, treason, or any other felony. The proposal arose from the case of Alger Hiss, who will get a federal pension at age 62 unless the bill is enacted...
Liquidation. In Douglas, Ariz., while his parents were away on vacation, Glenn Prescott, 35, sold two family blankets for $22, the radio-phonograph for $20, his father's bar bells for $13, allegedly cashed his father's $15 pension and $85 Social Security checks, was arrested while trying to sell the family washing machine...
...Boom? Meanwhile, the Stock Exchange has campaigned hard to sell common stocks just as the supply was being diminished by the influx of such buyers as pension funds and investment trusts, who take the stock off the market. The death of the excess-profits tax, easy money, and the prospect of continued fat dividends as well as lower taxes on them-have also made stocks look like better buys...