Word: pensions
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Dates: during 1980-1989
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...bank supporters on prime-time television. The Socialists also had the backing of labor unions and religious organizations. Said Tobias Bauer, who runs a Bern organization aimed at stemming the flow of capital from less developed nations to Switzerland: "The country of the Red Cross should not be a pension fund for Third World dictators...
Healy's budget also designates $1 million for the creation of a pension reserve fund for city employees and another $1 million--net reflected in the $159.3 million budget--for a brand new "pay-as-you-go" capital improvements fund...
Advocates a complex reindustrialization program. Would provide tax relief to declining industries if management and labor agree to limit wages and prices; the tax break would provide reinvestment funds for those industries. Sees pension funds as a source of job-creating investment money for small new computer and other high-tech companies. Opposes legislation requiring U.S. products in imported cars. Urges an increase in Government outlays for research and development. Proposes joint employer-employee contributions to a fund for retraining workers in obsolete industries...
Although holders of zeros receive no cash until their bonds mature, they must still pay annual taxes as the principal and interest grow. Result: tax-exempt investors like pension funds have been the main buyers of the bonds. But consumers are also snapping them up for Individual Retirement Accounts, which allow savers to defer taxes annually on as much as $2,000 of income. With this year's deadline for tax filing approaching, many investors have been finding the bonds a good place to put their cash...
...time the movement has responded, the Corporation has backed down and the ACSR has moved closer to advocating divestiture. Last year the ACSR split on a straightforward vote on divestiture, 5-6-1 against it. The Harvard divestiture movement has inspired successful and profitable divestments by Cambridge and Massachusetts pension funds, and by universities like Michigan State, which reported that through divestment it made over $2 million. Finally, each time the divestiture movement and the Corporation lock horns, the world listens, and white South Africa listens...