Word: pensionable
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...senior executive. Still, even accounting for decades of compounded interest and (at least for a while) a booming stock market, $140 million is "very generous," says Doug Jensen, an executive-compensation consultant at Hay Group in Norwalk, Conn. Consider: it's equal to the entire second-quarter pension expense for Northrop Grumman, a company with 120,000 employees...
...core of the workers’ grievance are demands for higher wages and pension benefits, the same issues that led workers to strike for five days in March...
Yale has also claimed that its pension benefits would compensate workers with between 83 and 92 percent of their final salaries, although union officials have questioned the university’s calculation of those figures...
...planning on refinancing or buying a house would do well to listen to what Gross has to say. For one thing, he says the unprecedented interest-rate volatility seen of late is now a permanent bond-market reality because of the nation's mushrooming use of credit. As banks, pension funds, insurers and finance companies trade debt to manage their exposure to interest-rate risk, speculators are encouraged to jump in, heightening volatility...
...Pensions, the steady stream of income granted in return for years of faithful service, were once supposed to offer a dependable security blanket for millions of older Americans. Lately, though, pension-fund values have been devastated by stock market losses and historically low interest rates on fixed-income securities. "That's kind of a double whammy," says Comptroller General David Walker. Over the past 2 1/2 years alone, the total amount of underfunding of corporate plans--basically, the difference between what companies are projected to owe their retired workers and the size of corporate pension funds--has ballooned by more...