PHOENIX-- A bill backed by top Republicans in the Arizona Legislature that replaces pensions for new judges and other elected officials with a 401- style retirement plan passed the Arizona Senate on the second try Wednesday. The House already voted for the bill, but a second vote is required because of Senate amendments before it heads to Gov.» Read More
Delphi said in a regulatory filing Friday that it contributed about $48 million to its U.S. pension plans. The amount represents the part of the pension contribution related to services rendered by Delphi employees in the second quarter of 2007, the auto supplier said in a filing with the U.S. Securities and Exchange Commission.
For investors, employees and retirees of General Motors this has been the spring of smiles. Consider this: shares of GM are at a multi-year high, Wall Street (including S&P today) is becoming more optimistic about GM's recovery and there's a genuine feeling the company will come out of the UAW contract talks in pretty good shape.
DaimlerChrysler has assumed a $1 billion risk from Chrysler should its pension plans be terminated before an agreement with U.S. agency Pension Benefit Guaranty Corporation (PBGC) expires in five years.
AT&T CEO Whitacre said he will retire on June 3. He said the board had selected current COO Stephenson to replace him as both CEO and chairman.
Here's the day's trivia questions for Bonus Bucks. The video question is worth $2,000 Bonus Bucks: Currently, how many $1 Million homes are there on the market in Rockville, MD? Your selection of answers is: 38 or 18 or 24 or 32 And the news question is worth $1,000 Bonus Bucks: AT&T's CEO Edward Whitacre Jr. is set to retire. His pension plan will be worth more than how much? Your selection of answers is: $158.5 Million or $220 Million or $280 Million or $305 Million.
Corporate profits are up -- and corporate pensions appear solid. But "Street Signs" guest Alison Borland says more companies intend to terminate their pension plans this year. A senior benefits consultant for Hewitt Associates, Borland told CNBC's Erin Burnett about the bad news -- but why it may be less painful than some might expect.
Marks & Spencer said on Tuesday it would inject 500 million pounds ($987 million) into its final salary pension fund through a property partnership scheme and it would keep the scheme open to existing members.
Shares in British Airways rose as much as 3.3% in early Monday trading after the airline reached a deal with its four main trade unions on plans to tackle its 2.1 billion pound ($4.1 billion) pension deficit.
Hedge funds and mutual funds have poured big money into emerging markets. Which funds have the biggest exposure, if the “Thai Financial Flu” spreads? CNBC’s Melissa Lee investigated – and revealed her findings on today’s “Power Lunch.” Certainly with emerging markets on such a run recently, this is an area where many investors have seen increasing exposure.
British telecoms group BT said its pension deficit had risen to 3.4 billion pounds ($6.7 billion) following the introduction of more conservative accounting rules and that it would up payments into the scheme.
Yesterday, the U.S. Securities and Exchange Commission raised the net worth requirement for investing in hedge funds to $2.5 million from $1 million. If you saw SEC Chairman Christopher Cox on cnbc.com this morning, you’d know that the rule was made to keep unsophisticated investors out of an incredibly complex industry. Now, the focus is on protecting retail investors....
My power and money producer, Wendy Furrer, and I are sitting here on the sandy beaches of Dana Point California now that Opal Financial's Alternative Investing Summit has wrapped up. It's amazing that Amaranth, for all the media coverage it's gotten, has not been a big theme here.
According to a Mercer Investment Consulting study - 1/3 of pension funds invest in hedge funds. But are they safe investments? On today’s Street Signs Erin Burnett put that question to Damon Silvers, Associate General Counsel with the AFL-CIO and Cynthia Steer, Managing Director and Chief Research Strategist with CRA Rogers Casey.