Word: pensioneer
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...through scoldings from their guest speakers, especially from one appointed by a President who has twice won their endorsement. But a scolding is precisely what some 2,000 Teamsters representatives got from Labor Secretary William Brock as they gathered in Las Vegas last week. Listing "mobbed-up locals" and "pension-fund abuse" as just two of the union's problems, the Labor Secretary bluntly declared that the Teamsters have "lost a great deal of public trust." Brock, who served as chairman of the Republican National Committee from 1977 to 1981, went so far as to warn the Teamsters that they...
...Ambassador to the U.S. back to Istanbul to be buried. Since then he's seen ports of call from Australia to Italy and been tattooed by the best in Norfolk, Va., Hong Kong, Yokohama and Pearl Harbor. With just over 40 years in service, Davidson isn't padding his pension. He can't improve on the 75% of his monthly base salary of $2,467.80 that's due him if he retires tomorrow. When the call from Washington reached him in 1983, asking him if he wanted a second tour on the ship, there was no hesitation. "I told them...
...instead of maneuvering around private pension funds, the 102-member staff at HMC guards a portfolio that pays professors' paychecks and student financial aid. Twenty percent of the return on investments in 1984-85 helped bankrolled the University's $650 million budget, while the rest was reinvested...
...need to protect the endowment's purchasing power from market and inflation fluctuations can also guide the way Harvard invests. "Universities live to a certain extent off endowments," says Nicholas Potter, head of investments for J. P. Morgan and Company. "They take a different approach than pension funds and tend to be more conservative because they can't take risks in the long term...
...January 1985, after California's pension funds had taken a drubbing in the wake of Disney and Texaco greenmail payouts, Unruh persuaded managers from across the country to fight for better protection for their investments. Council members now include representatives of huge funds in California, Kansas, Illinois, Wisconsin, Massachusetts, Minnesota, New Jersey and New York City...