Word: pensioners
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Dates: during 1980-1989
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...class state university and a mediocre one. You are able to congregate a great faculty because of a certain atmosphere-and when that gets destroyed, it's hard to put it back together again." Faulkner, 38, was particularly concerned that Illinois would not be able to pay his pension when he retired. Last week he moved into a new job at the University of Texas in Austin. "Texas," he says, "pays its bills." Faulkner's salary at Texas will be $47,000, $3,000 more than it was at Illinois. Sustained by both the legislature and oil-well...
With that triple dosage of encouragement, the market in the next ten months set 25 records. It was fueled by an enormous influx of cash held by pension funds and other institutions. Another source: $35 billion from individuals seeking to set up their own Keogh plans and individual retirement accounts, the latter provided under a law opening such benefits to all employees as of January 1982. Much of the IRA money was switched out of bonds and money market funds and into equity mutual funds (see chart). So was a great deal of non-IRA money. As interest rates dropped...
...resent your attitude that travel in Europe must be expensive to be good. An intimate pension in Florence, an inn on a quiet beach on Mykonos or a quaint hotel in London: that is the kind of place people prefer today. Many American tourists do not care where the Hilton is, and do not spend $10 on breakfast in Rome...
...Supreme Court put the law into effect and no policy has been announced. One other example is investment ethics. While President Bok has long resisted demands for the injection of effective morality into the University's portfolio the Commonwealth of Massachusetts late last year voted to divest its pension fund from companies doing business in South Africa...
...between the sexes. But the Supreme Court has ruled that insurers offering retirement plans may not [July 18]. Equality has become so strong a dogma that we refuse to accept the fact that women do live longer than men. Thus by demanding that men and women contribute equally to pension plans and receive equal payments, the court is requiring men to subsidize women...