June 9, 1992 |
The Supreme Court agreed to decide whether employers can contribute property instead of cash to meet funding obligations for pension plans that cover 40 million American workers. The court will study arguments by an Alexandria, Va., real estate agent that such pension-fund contributions don't have to be in cash. In 1984 Dallas C. Wood created a pension plan in which he was the sole participant.
December 1, 1992
A major pension fund has cut its stake in Calabasas-based Xircom Inc. by about 154,200 shares. Between Nov. 2 and 9, the State of Wisconsin Investment Board, which manages funds for Wisconsin state employees, sold off about 1% of its holdings in Xircom and now owns 7.6% of the firm, or 1.1 million common shares. The divested shares were sold for $9 to $9.50 each.
January 3, 2007 |
New York's pension funds asked Home Depot Inc., Blockbuster Inc. and Par Pharmaceutical Cos. to let shareholders vote on whether they approved of top executives' pay packages. The formal proposal submitted by New York City Employees' Retirement System trustees, including City Comptroller William C. Thompson Jr. and Mayor Michael R. Bloomberg, would allow investors in the three companies to cast a vote of no confidence in management.
June 4, 1988 |
QUESTION: I left my job with a very small company and was supposed to receive a lump-sum disbursement from the pension fund. I have waited the required length of time for this check, but it still hasn't come. The plan was set up in accordance with the rules and regulations of the Internal Revenue Service. Can the IRS help me? The company isn't cooperating.--L. V. S. ANSWER: The Internal Revenue Service can't give you the help you need.
September 28, 1989 |
Gov. George Deukmejian has vetoed legislation that would have guided California's pension fund investments away from companies with operations that practice religious or ethnic discrimination in Northern Ireland, the governor's office announced Wednesday. In his veto message, Deukmejian said he believed that the bill, by Assemblyman John Burton (D-San Francisco), would do more harm than good because it would discourage investment in Northern Ireland.
June 24, 1986 |
A plan backed by Gov. George Deukmejian to use $300 million in state pension funds to help balance the proposed new state budget and avoid massive cuts in the spending plan apparently died Monday when it lost strong bipartisan support in the Legislature.
August 16, 1987 |
State government's three major public pension funds have altered investment strategies as they prepare for major changes under California's new South African divestiture law. The historic measure, signed by Gov. George Deukmejian last September, requires divestiture as a protest of South Africa's racial policies. Under the law, as of Jan. 1, 1988, the funds must begin a three-year sell-off of stock in companies that do business in South Africa. It also sets Jan.
December 18, 1994
Orange County is in bankruptcy, a headline on Dec. 7 states that "20,000 Nationwide Invested in Phony Retirement Plans," and a few days earlier another headline proclaimed that the private pension funds of this country's private corporations were short billions of dollars of what they should have in their reserves. For those who accept the concept that such risk in finances is an unfortunate but unavoidable part of our "free enterprise system," such gambles may be acceptable but these risks are totally unacceptable to those who are trying to put aside savings for retirement or who are already retired and hoping to budget their assets for their needs now that they are no longer able to work.
February 23, 1989 |
The annual pension fund concert of the Los Angeles Philharmonic finally arrived on the stage of the Dorothy Chandler Pavilion Tuesday night after having been postponed from Feb. 7. Held over from the original schedule, Itzhak Perlman played Beethoven's Violin Concerto, but the conductor, Christof Perick, principal conductor of Deutsche Oper Berlin, was new to the Philharmonic. What appeared to be a sold-out house was a foregone conclusion.
October 14, 1990 |
Q: My former employer recently sold its retirement fund to an insurance company for an annuity. I plan to start drawing on my retirement next year and am concerned about its safety. Is it true that a retirement fund is no longer guaranteed by the federal government once a corporation puts the money into an insurance company's annuity program? --W. F. R . A: Yes, it's true. As you may know, the federal Pension Benefit Guaranty Corp.