Monthly Archives: June 2011

Ontario Government Funds Teacher’s Pension Shortfall

The Ontario government and the province’s public school teachers have agreed to make larger payments to the Ontario Teachers’ Pension Plan, wiping out a $17.2-billion shortfall that has dogged the plan. … Low interest rates are another factor taking a … Continue reading

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Greek debt crisis prompts EU ‘resolution’ talks

EU officials and bankers to discuss ways of resolving Greece’s financial crisis including proposal for debt write off. ********** The rest of the article is here: http://www.guardian.co.uk/business/2011/jun/27/greek-debt-crisis-eu-talks

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Spain, Italy suffer most from Greek debt crisis: Madrid

Spain and Italy are taking the hardest hit from Greece’s sovereign debt crisis but Madrid will not need a bailout, Spanish Finance Minister Elena Salgado said Monday. The risk premium charged on Spanish bonds compared with safer-bet German securities “is … Continue reading

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Investors’ New Worry: Is There Greek Debt in My Money Fund?

Last week, lawmakers and regulators registered concerns about money-market funds’ exposure to the European debt crisis. About half of the assets in the 10 largest U.S. prime money-market funds are invested in European bank debt, according to a report from … Continue reading

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American Debt Crisis In The Greek Theater

Month to date data from the daily Treasury statement now confirms the evidence  of an economic stall. This could lead to a vicious cycle where tax receipts fall  faster than outlays, causing the Treasury’s borrowing needs to balloon.”  Tensions are … Continue reading

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Filling Pension Gap Would Cost Taxpayers $1,400 a Year

Legislators inside the beltway are struggling to agree on ways to cut the federal budget deficit, but the states face a budget crisis as well, driven in part by commitments to public pensions. By some estimates, the 50 states collectively … Continue reading

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US states face pension funding crisis

US – American households will have to contribute an average of $1,398 per year to fulfill pension promises, according to a new study.                     The paper, “The Revenue Demands of Public Employee Pension Promises,” calculated the increases in state and local … Continue reading

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Three telltale signs of true pension reform

In November, San Franciscans will have a choice between two competing ballot  initiatives designed to address The City’s escalating pension crisis. The stakes  are huge as The City stands on the edge of a fiscal meltdown due to exploding  pension … Continue reading

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Only a third of people saving for retirement

The median savings for households in which people are approaching retirement is £151,900. According to the ONS figures, a man with savings of £151,900 at the age of retirement would receive an annual income of just over £6,000 a year. … Continue reading

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New Front in Benefits Fight, Atlanta May Drop Pensions

Atlanta’s City Council is expected to vote as early as Thursday on one of the most sweeping overhauls of public-employee retirement benefits attempted by a large U.S. city in recent years, as cities and states across the country race to … Continue reading

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