One fact has been lost amid the hand-wringing over the Pension Benefit Guaranty Corporation's PBGC $11.2 billion deficit: Defined benefit pension plans actually seem to be doing better than they have since the mid-1990s economic boom. One fact has been lost amid the hand-wringing over the Pension Benefit Guaranty...
By Jim Fuquay, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News Jul. 29--General Motors' $2.2 billion contribution to its employee pension plan this month could be a harbinger as employers scramble to make up losses from the stock market. ...
Plunging stock price spawn worries that retirement plans are under funded. For years, corporations have sat on over funded pension funds thanks to stock prices that rose much more than actuaries had predicted. Now after more than two years of plummeting stock prices, companies are starting to worry that their...
The federal Pension Benefit Guaranty Corp. has decided to gamble on the future of bankrupt LTV Corp. in the hope of avoiding a massive pension liability down the road. The PBGC's gamble would put the federal government in the unusual position of payinThe federal Pension Benefit...
Byline: Kimberly Lankford, Kiplinger Washington Editors With the news of United Airlines' default on its pension plan, what protection will workers have if companies don't follow through on their promises? -- W.C.L., New York City When...
Byline: Gregory Crawford and Vineeta Anand Memo to President Bush and Congress: It's a retirement crisis, not merely a Social Security crisis. All three legs of the stool on which America's workers are expected to rely for retirement - Social Se ...
Two long-time adversaries in the LTV Corp. bankruptcy agreed to a truce last week, but deep differences among parties in the labyrinthine reorganization are expected to reappear in U.S. Bankruptcy Court in New York today, Nov. 4. To reach an accord wiTwo long-time adversaries in the...
Byline: Vineeta Anand WASHINGTON - Some academics, financial economists and actuaries are slamming the Bush administration's proposal to replace the 30-year Treasury with an index of high-grade corporate bonds as the benchmark for calculating pens Byline: Vineeta Anand WASHINGTON -...
NEW YORK - Global pension plans had mixed results in the first quarter, with funded ratios declining in the U.S., Canada, Australia and the euro zone but improving or holding steady in the United Kingdom, Brazil and Japan, according to a new report f NEW YORK...
1997 TOP NEWSMAKERS With the International Brotherhood of Teamsters winning what many called the most significant organized labor victory in years, union President Ron Carey should be ending 1997 as one of the country's most powerful labor leaders. I1997 TOP NEWSMAKERS With the International...
NEW YORK -- Nothing in LTV Corp.'s nearly 7-year-old bankruptcy case has been simple. And that includes ending it. Before the Cleveland steelmaker finally can emerge from Chapter 11 bankruptcy protection, it must nail down a few details of its plan of NEW YORK -- Nothing in...
WASHINGTON -- The federal agency charged with backstopping pension benefits for 44 million Americans has understated the risks of its new investment policy, a congressional watchdog said. The Government Accountability Office said in a report released today that the Pension Benefit Guaranty Corp.'s new strategy could significantly...
WASHINGTON AP -- The federal agency that protects retirement income of nearly 44 million workers has decided to split its $55 billion in assets evenly between fixed-income investments and stocks. The Pension Benefit Guaranty Corp. said Monday the new strategy will offer lower risk through broader diversification....
Alaska Air Group Alaska Air Group announced the conversion of $150 million in outstanding convertible notes due in 2023 into Alaska Air common stock. "With this transaction, we have converted $150 million of debt into equity," CFO Brad Tilden said. May 1, 2006 Alaska Airlines'...
AIRLINE INDUSTRY INFORMATION-C1997-2006 M2 COMMUNICATIONS LTD United Airlines does not expect any major problems at the start of a hearing to confirm its Chapter 11 bankruptcy protection exit. The airline has reportedly received acceptance for its plan from a majority of its creditors and also appears...
"It could be argued that they have an obligation to the taxpayers and the plans they represent that the value of the stock is maximized." --Securities attorney John Olson, speaking to The Wall Street Journal about the increasing equity stakes in failing companies...
A Congressional overhaul of pension laws late this year will aim to bolster workers' confidence in retirement plans. For firms offering 401k plans, workers will win faster vesting of employer contributions and be assured the chance to diversify investments beyond their company's stock. ...
Suddenly, the nation finds itself in a looming pension crisis. If nothing else, this should boost President Bush's campaign for the partial privatization of Social Security. Think of this: If many middle-income Americans are facing retirement on nothing other than traditional Social Security, they are going to...
Beat the crowds and save big on their favorite sports gear! Shop today
