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Pensions

OPINION
March 2, 2011
A boy of summer Re "Hall of Famer was Dodger star," Obituary, Feb. 28 My love affair with baseball started in 1946, when I was 9 years old. Growing up in Louisville, Ky., I was a fan of the Brooklyn Dodgers and kept up with them through radio, TV, newspapers and sports magazines. Today, when my boyhood baseball heroes die, I'm touched with a bit of sad nostalgia in remembering the joy they brought me. For me, baseball's glory days were 1946-60. It was a time when players gave their autographs for free.
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CALIFORNIA | LOCAL
August 9, 2009 | Rich Connell
Collecting nearly $318,000 a year, the former head of Los Angeles' Department of Water and Power tops a list of 841 city pension recipients paid six-figure benefits, according to newly obtained records. And, like many of the retirees, former DWP General Manager Ronald Deaton will be paid more beginning this summer -- boosting his annual retirement pay to more than $327,000 -- because of annual cost-of-living increases, records and interviews show. New DWP pension data provide a fuller picture of the city's largest retirement packages at a time when City Hall is cutting services, the public is being hit with recession-driven tax increases to cover government budget shortfalls and rising public pension costs are under close scrutiny.
BUSINESS
May 1, 2009 | Walter Hamilton and , David Zahniser and Marc Lifsher
A multimillion-dollar pension-kickback scandal widened further Thursday as a consulting firm for a Los Angeles city retirement fund was sued by federal regulators and one of its partners was arrested on criminal charges. Aldus Equity was charged by the Securities and Exchange Commission with civil securities fraud for allegedly making improper payments to win business managing money for a New York state pension fund.
BUSINESS
March 18, 1990
In the March 4 article "First Executive Casts a Shadow Over Pensions," an officer of First Executive states: "The company is in very robust financial health. Even suggesting we won't perform on (pension) obligations is far-fetched." This parallels the statements from their allies and partners-in-junk at Drexel Burnham Lambert who denied the filing-for-bankruptcy rumors the day before the actual occurrence. ALBERT C. FARRELL Beverly Hills
BUSINESS
June 23, 2011 | By Andrew Seidman, Los Angeles Times
House Republicans lashed out at what they called preferential treatment the Obama administration gave to certain union pensions in the bailout of General Motors Corp. during the 2008 financial crisis. During a subcommittee hearing Wednesday, Republicans accused the administration of favoring union employees of Delphi Corp., the largest U.S. supplier of auto parts, and leaving many nonunion, salaried employees empty-handed. The government took over Delphi's pension plan during the company's reorganization in Bankruptcy Court.
OPINION
September 10, 2006
Re "Law May Hasten Decline of Pensions," Sept. 4 It would be helpful in understanding just what is happening here if we called pensions what they are: delayed compensation. It's certainly a fairly run-of-the-mill concept to top-tier corporate executives, officers and chief executives, many of whom can look forward to continued salaries and perks well into the millions of dollars in retirement. What happened at DuPont recently was that the bulk of the workforce was forced to take a drastic pay cut, and future hires can look forward to an even lower compensation rate.
WORLD
January 18, 2005 | From Times Wire Reports
Russian President Vladimir V. Putin promised a moderate increase in pensions and blamed federal and local officials for failing to properly implement changes that cut off benefits to millions of Russians. Putin's comments came hours after police blocked hundreds of protesters from retaking a major intersection in St. Petersburg that thousands of pensioners occupied over the weekend. Demonstrators blocked major roads in other cities.
BUSINESS
September 21, 2004 | From Associated Press
More than 100 lawmakers have signed a letter being sent to United Airlines' chief in opposition to its plan to terminate its pension plans to survive bankruptcy. The letter by Democratic Reps. George Miller of Martinez, Calif., and Janice D. Schakowsky of Illinois has attracted signatures from 104 House members and eight senators, including two Republicans.
NEWS
November 7, 1989 | From a Times Staff Writer
Former President Ronald Reagan's $2-million speaking tour for a Japanese company prompted introduction Monday of a bill to reduce or eliminate pensions for ex-presidents with high outside earnings. Rep. Peter A. DeFazio (D-Ore.) said his proposal in the House would apply an earnings test to presidential pensions along the lines of the limits on outside income now used for recipients of Social Security benefits. Ex-presidents now receive a $99,500-a-year pension.
CALIFORNIA | LOCAL
February 12, 1992
Los Angeles County Supervisor Gloria Molina on Tuesday accused top county officials of inflating their pensions by including car allowances, fringe benefits and other items in calculating their retirement pay and called for an end to the practice. "Many of these pension-spiking measures are not allowed in other government retirement systems," she said in a motion that will come before the supervisors next week.
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