Word: pensioned
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...Justice Department would supervise the District's courts and prisons, a $1.4 billion fund would be set up by federal agencies to cover road and bridge repair. At the same time, the federal government would agree to cover the District's $5 billion liability to a municipal pension fund, pay a greater portion of its annual Medicaid bills, and create an incentive plan to stimulate investment in downtown and poor neighborhoods. Despite appearances of a hefty hand-out, the plan will come with strict budgetary strings attached, cautioned White House spokesman Mike McCurry, who touted the deal as a "plan...
...their monthly meeting last week, members of the Faculty of Arts and Sciences discussed the University Benefits Committee (UBC) first annual report, which recommends that Harvard increase its pension of faculty members under age 40. Although we applaud the much-needed focus on young faculty as well as the necessary increase in their pension benefits, the recent recommendation is sorely lacking...
...Harvard reduced the percentage it contributed to the pension plan from five percent to four percent. To return the contribution to its original five percent is no great concession on the part of the University...
...first change restores the level of Harvard's annual pension contributions for faculty members under age 40 to 5 percent for the salary portion under the Social Security wage base and 10 percent for the remainder. In 1994, the University reduced its contribution to all faculty pension plans by 1 percent...
...Mallinckrodt Professor of Applied Physics William Paul said he believes younger faculty members should be given the same pension benefits that faculty over 40 receive...