Word: pensioned
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Dates: during 1970-1979
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...tournament at the La Costa country club in Carlsbad, Calif. The entourage that appeared for the former President's "coming out" was intriguing. Tournament participants included Anthony Provenzano, unofficial boss of New Jersey's Teamsters; Allen Dorfman, convicted in 1972 for accepting a kickback from a union pension-fund borrower; Jack Sheetz, a businessman indicted but not prosecuted for misuse of union pension funds; and some other figures linked to organized crime. After finishing the day with a respectable 92 on the 72 par course, Nixon retired to a recreation room for a private chat with a select...
...they make different types of investments. Insurance companies, for example, sometimes buy buildings, like the Landmark office complex in Atlanta, owned by MONY, a practice uncommon to banks. The Government nonetheless argues, with some justice, that banks and insurers do compete. Both make mortgage loans, and both manage pension funds. In making loans to corporations, banks have traditionally concentrated on loans of five years or less, insurance companies on loans of 15 years or more. Recently, however, both banks and insurance companies have been making more intermediate-term (three-to ten-year) loans...
Among other things, the legislature had directed State Comptroller Arthur Levitt to invest $125 million from two state employees' pension funds in bonds is sued by the Municipal Assistance Corporation (Big Mac). In addition, the state was to try to borrow $750 million and then promptly lend it to Big Mac (TIME, Sept...
Delicate Refusal. But two unions representing state employees went to court to prevent any of their $7.2 billion pension funds from being invested in the tottering city. The court ruled that the legislature did not have the authority to order Comptroller Levitt to buy the bonds. The court did not forbid him, however, from buying them if he wanted to. Despite pleas from Governor Hugh Carey and Mayor Abraham Beame, Levitt showed no such desire...
...players' only complaint. Indeed, many of them voted recently to oust Players Association Executive Director Ed Garvey because they felt he had lost last year's strike by overstressing the Rozelle rule and other "freedom issues." More important, particularly to veterans, are the league's pension plan, insurance program and even the number of players allowed each team. Since the last contract expired in 1974, for example, the league has not contributed to the players' pension fund; they have now missed payments totaling $5 million. The players also want teams to carry more than the presently...