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...magnitude 6.8 earthquake that hit the northwest coast of Japan Monday morning is rocking the country's faith in its nuclear power plants, raising questions about the safety of facilities that provide a third of the energy consumed by the quake-prone archipelago...
...problem with DB is that sponsors are prone to lowball or ignore the true cost. In the U.S., where corporate pensions provide a key supplement to Social Security, Congress has felt the need to pass multiple laws aimed at preventing companies from underfunding them. In response, some companies spent billions shoring up their funds; many others simply stopped offering pensions. Just since 2004, at least 66 big companies have frozen or terminated their DB plans, estimates Barclays Global Investors. Corporate DB has given way to individual DC plans like the 401(k) and IRA. But these put too much responsibility...
...workplace pensions to supplement its government plan. The crucial difference is that these pensions were mandatory. Smaller employers had to band together to make a go of it, and industry-wide funds became standard. Run more as independent cooperatives than as captive corporate divisions, the Dutch funds were less prone to underfunding than their U.S. counterparts. When they nonetheless ran into financial trouble in 2002 after the stock market crashed and interest rates sank, the country came up with a unique response. The Dutch funds are now no longer on the hook for providing a set income in retirement...
...communities back home, here they remain largely invisible, cooped up in the apartments of their employers and cut off from their relatives and friends across the seas. They are subject to far stricter employment laws than the rest of the Hong Kong population and are vulnerable to abuse and prone to depression. "I've been through a lot," says Unite, clutching a copy of The Measure of a Man, the spiritual autobiography of pioneering African-American actor Sidney Poitier. "But I still am inspired by so much. I still believe, I still dream...
...lying prone on the altar of Holy Name Cathedral on a recent Saturday were a testament to the Catholic Church's long push to recruit a new generation of priests from around the world as seminary enrollment in the U.S. sagged. Four of the men hailed from Poland, three from Kenya, two each from Mexico and Peru, and one from Tanzania. But of all these men before Cardinal Francis George, leader of the third largest archdiocese in the nation, the one that really stood out is Fr. Michael Scherschel, 42, who took his vows that day just a few miles...