Word: pensionable
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Social Security isn't the only retirement program in line for a makeover. Labor Secretary Elaine Chao, saying "our country must act now," outlined bold plans to shore up the nation's ailing private pension system last week. She's walking a fine line between restoring its health and scaring companies out of the programs altogether. Among the tough measures she has proposed: a 58% hike in insurance premiums that private pension sponsors must pay. The Bush Administration also suggested a seven-year deadline for all pensions to be fully funded and called for even stiffer premiums for companies whose...
While debate brews over whether or not Social Security faces a crisis, few disagree that the pension system is a problem that needs to be addressed. The proposed makeover has nothing to do with 401(k) plans and others like them, in which employees provide most of the funding and make all the key decisions--and must live with the results. The crisis is in traditional "defined benefit" plans, in which companies set aside money now to provide workers with guaranteed income after they retire. Those plans, which cover 34 million Americans, are deeply underfunded...
...Courtney Snegroff, who organized the protest, said that the cleaning company offers smaller pension benefits than Harvard...
...integral part, which west Ukrainians themselves already knew. Yuriy "Yura" Shalak Reisterstown, Maryland, U.S. The Declining Dollar You reported that the falling value of the U.S. dollar hurts European manufacturers [Dec. 20]. It affects other Europeans as well - those, like me, who worked in the U.S. and receive a pension in dollars. My benefits shrink a bit more each month. The loss now is more than 30%. I wonder how many thousands of people find themselves in the same predicament. The U.S.'s reputation has become tarnished by huge deficits, a climate of suspicion for non-Americans, energy waste...
...Declining Dollar You reported that the falling value of the U.S. dollar hurts European manufacturers [Dec. 20]. It affects other Europeans as well?those, like me, who worked in the U.S. and receive a pension in dollars. My benefits shrink a bit more each month. The loss now is more than 30%. I wonder how many thousands of people find themselves in the same predicament. The U.S.'s reputation has become tarnished by huge deficits, a climate of suspicion for non-Americans, energy waste and pollution, not to mention the political climate. As a young woman, I learned...