Word: pensioneer
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...rise in days of hospital care, a 280% growth in the number of nursing-home residents. Between now and the year 2000, a new 220-bed nursing home will have to be opened every day just to keep even with demand. Without a change in the present system, pension and health-care costs will account for more than 60% of the federal budget...
Employers are enthusiastic about 401(k)s because they represent an easy and inexpensive employee benefit. Smaller firms that are hard pressed to provide a pension plan for their workers can, at a modest cost, set up a 401(k) in which employee contributions are not matched. Large companies find that they can save money by scaling back their basic pension plans and introducing 401(k) programs...
Crouse says she expects the university to continue to take a hard-line toward union demands when they meet to negotiate a new contract by August 31. The union will probably include a better pension plan and increased job security among its demands, Crouse says...
...billed as the high-tech investment strategy of the decade. Using computerized trading in esoteric investment vehicles like stock-index futures, the technique promised managers of pension funds or any other kind of investment pool the Wall Street equivalent of the Holy Grail: "insurance" for their portfolios against future downturns in the stock market. As the Dow Jones industrial average kept climbing to new highs through much of 1987, the value of the funds covered by so-called portfolio insurance swelled to an estimated $80 billion...
...thing the technique did not do on Black Monday was provide total insurance against a crash. One deeply insured investment fund, the pension plan of U S WEST in Denver, watched the value of its stock holdings shrink from $3.3 billion to $3 billion. Although the company estimates it might have lost an additional $400 million had it not been covered, it no longer insures its pension funds...