Bad News for Americans

Verizon to Halt Pension Outlay for Managers
By KEN BELSON and MATT RICHTEL
Verizon will stop contributing to the pension plan covering
50,000 of its managers and instead offer them 401(k) plans.

http://www.nytimes.com/2005/12/06/business/06verizon.html?th&emc=th

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We academics are most fortunate to have a solid, no cost pension plan that allows us to invest by categories as we choose -- TIAA/CREF. I recommend to any who can join it to do so -- both of my daughers are hooked in by the accidents of a brief college job and a NASA internship. But too many Americans are now watching their long-term pensions suddenly disappearing or have made disastrous investment choices on their own. TIAA has safe options and they are among the smartest in getting it done right for no charge. Ed Kent
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"A war is just if there is no alternative, and the resort
to arms is legitimate if they represent your last hope." (Livy)
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Ed Kent 718-951-5324 (voice mail only) [blind copies]
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