Word: pensioned
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Dates: during 1980-1989
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Nonetheless, few Wall Street analysts expect the feared sell-off to materialize. One reason is that institutional investors control about one- third of all stock, and many of them, including most pension funds, are tax exempt and thus have no incentive to sell their holdings. Moreover, financial advisers are telling their individual clients to avoid indiscriminate dumping of shares. A stock should be sold, the experts caution, only if the investor thinks it has gone about as high as it will go. Otherwise the investor risks sacrificing hefty long-term profits in pursuit of modest tax savings. Says Barry Gordon...
...infinitely cheaper to offer health care insurance on a group basis than on an individual basis, which would have prohibitive premium costs," said Claire Sheahan, spokesman for TIAACREF, the New York-based insurance company that provides pension systems for universities nationwide. Individual coverage could cost hundreds of dollars each year, compared to an employer provided plan that would run only a few dollars a month, said Sheahan...
...Long-term health insurance] is very badly needed as the population ages. We can't make Congress adopt a plan, so we will do it through institutions," said Ernst Benjamin, co-chairman of the pension issues committee of the umbrella organization for higher education in Washington. Benjamin, who also heads the American Association of University Professors, said such policies have not existed at universities until now, but "Harvard will provide academic leadership" in the area...
...been revealed recently that Bozzotto was a trustee and treasurer for two union pension funds that held at least $750,000 in bonds in South Africa-related companies. While Bozzotto has said that he divested in 1981, Labor Department disclosure forms--which he signed--show that between 1983 and 1984 Bozzotto in fact purchased a total of over $2.5 million in bonds in Texaco, General Motors, Ford and Caterpillar. All do business in South Africa. Particularly ironic is that Texaco and Ford are two of the corporations from which the University recently divested...
...pension funds, which Bozzotto oversees, hadat least $500,000 invested in companies that dobusiness in South Africa during 1984, the lastyear for which figures are available, according toDepartment of Labor documents...