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Retirement Eligibility

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NEWS
December 2, 1998 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
As the Clinton administration gears up for a special White House conference on Social Security, the head of the huge retirement program warned Tuesday that the public is deeply skeptical of any proposal to raise the retirement age. Boosting the age for full Social Security benefits to 70 has become a component of many congressional proposals for saving the program from bankruptcy in the next century.
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BUSINESS
April 15, 1999 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
The Clinton Administration on Wednesday unveiled a plan to offer low- and moderate-income workers $300 tax credits, proposing a new retirement savings program aimed at the 73 million Americans who have no pension plans at work and no IRAs. The proposed program, which would cost $38 billion a year and be financed from budget surpluses, will be one of the administration's major weapons in its fight with congressional Republicans, who have called for a 10% across-the-board cut in tax rates.
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BUSINESS
April 15, 1999 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
The Clinton Administration on Wednesday unveiled a plan to offer low- and moderate-income workers $300 tax credits, proposing a new retirement savings program aimed at the 73 million Americans who have no pension plans at work and no IRAs. The proposed program, which would cost $38 billion a year and be financed from budget surpluses, will be one of the administration's major weapons in its fight with congressional Republicans, who have called for a 10% across-the-board cut in tax rates.
NEWS
December 2, 1998 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
As the Clinton administration gears up for a special White House conference on Social Security, the head of the huge retirement program warned Tuesday that the public is deeply skeptical of any proposal to raise the retirement age. Boosting the age for full Social Security benefits to 70 has become a component of many congressional proposals for saving the program from bankruptcy in the next century.
NEWS
July 14, 1987 | Associated Press
Marine Lt. Col. Oliver L. North, point man in the Iran- contra affair, will be eligible to retire from the military with a pension next May, but he hasn't said what his plans are. North is free to request retirement without a pension at any point. But if he left the military before completing 20 years of service he would forfeit his pension rights, Pentagon officials said today.
NEWS
December 4, 1986
The filing period for the City Council vacancy created by the removal of convicted Councilman Walter J. (Jake) Egan opens today and runs through 5 p.m. Dec. 26. The election will be held March 3 for a term that expires in April, 1988. The job pays $671.35 a month plus a $300 monthly car allowance, $30 for each meeting of the council as redevelopment agency, medical, dental and optical insurance coverage and retirement benefits.
CALIFORNIA | LOCAL
January 29, 1998 | DEBRA CANO
After a year and a half of negotiations, the City Council this week approved a four-year contract for city employees that includes pay and pension increases. A mediator helped broker the contract between the city and Anaheim Municipal Employees Assn., which represents 700 city employees. The contract, retroactive to October 1996, provides for two 3% pay increases. The first is retroactive to Jan. 9, and the second will go into effect Dec. 10, 1999.
BUSINESS
June 4, 1991 | MICHAEL HIRSH, ASSOCIATED PRESS
IBM Japan Ltd. is scaling back its work force this year in an effort to improve profitability, the company said today. IBM Japan, which in April announced its worst yearly earnings drop, has lost ground to aggressive Japanese competitors NEC, Fujitsu and Hitachi as purchases have slowed for its staple product, mainframe computers. At the same time, the Japanese subsidiary of International Business Machines Corp. of Armonk, N.Y.
CALIFORNIA | LOCAL
August 6, 1997
Re "Older Worker's Layoff Upheld on Economic Basis," July 30: Having a law that makes it legal to lay off older workers to be replaced by younger, less expensive workers is a basis for eliminating all ethics in business. AARP, where are you? Since our taxes pay for the panel that made this law, we should replace all judges and legislators who are earning more than $45,000 a year and are within 11 years of their pension benefits. They should be replaced by new graduates from law school.
BUSINESS
January 28, 2010 | By Marc Lifsher reporting from sacramento
Beleaguered Wall Street bankers might be staying away from this year's World Economic Forum at Davos, the Swiss ski resort. But that hasn't discouraged Jack Ehnes, the chief executive of the California State Teachers' Retirement System, from attending his fourth get-together of global movers and shakers from economics, business and government. The conference runs through Sunday. Although his $134-billion fund, the nation's second-largest public pension fund in assets, had lost about 25% of its portfolio as of June 30, the end of its last fiscal year, its board approved Ehnes' request for the European trip, which is expected to cost around $4,000.
NEWS
July 14, 1987 | Associated Press
Marine Lt. Col. Oliver L. North, point man in the Iran- contra affair, will be eligible to retire from the military with a pension next May, but he hasn't said what his plans are. North is free to request retirement without a pension at any point. But if he left the military before completing 20 years of service he would forfeit his pension rights, Pentagon officials said today.
CALIFORNIA | LOCAL
January 29, 2000 | FRANK M. SIFUENTES, Frank M. Sifuentes manages the Patrician Apartments in Long Beach
As seniors with more than 30 years of experience in human services--and long-forgotten soldiers in the "war on poverty"--my wife and I are thankful our medical benefits are secured. However, even though we have started new careers as resident managers for HUD-subsidized seniors' apartments, working for companies that provide health insurance coverage, we shudder to think what will happen when we become unable to work.
BUSINESS
January 29, 2010 | By Marc Lifsher
Another pension alarm bell is ringing in Sacramento, this time at the teachers retirement system, where the nation's second-largest public pension fund is reporting a $43-billion shortfall. The California State Teachers' Retirement System said that as of June 30, 2009, it could meet only an estimated 77% of its future pension obligations -- far less than the 100% recommended by actuaries. Known as CalSTRS, the fund took a big hit during the 2008-09 fiscal year, losing a quarter of its value.
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