| Do's and dont's of risk management leading up to retirement
We know that the world is different to what it was in our parents' day, but how many of us realise how much has changed in the last five or 10 years? In dozens of countries, massive transfers of risk have occurred from institutions to individuals. Governments and employers have reduced their social security and defined benefit retirement provision, passing the responsibility to individuals. The same is true in South Africa, where the shift from defined benefit to defined contribution has been more rapid than in most countries. Managing one's retirement saving is an attractive proposition to many, but far more difficult than people realise, particularly as one approaches the key moment in the saving cycle - the conversion of savings to income. Many retirement funds provide a generic investment approach that should suit all members - well, at least to some extent.
Auto glass plant awaits sale
When it's your business, you don't really watch the pennies, much less the nickels, than if you're buying it from outside." John Novak, an analyst at Morningstar, a financial research firm in Chicago, expects an agreement to be reached on wages, health care, number of jobs and how they areallocated among the different plants Glass Products bought. "There are a number of levers that can be pulled here," Novak said. Kitz also declined to disclose what specific incentives Glass Products would be seeking from Metro and state officials, but said the company was confident it would be able to close the deal. "We're not looking at negative contingencies," Kitz said. Dean Flener, a spokesman with Tennessee's Department of Economic and Community Development, said that the state has a set of requirements for companies to receive incentives, including tax credits.
PENSIONS / Teachers get $25M 'goodwill' break
EDMONTON - Alberta teachers will get a $25-million break on pension-liability contributions this year as part of a "goodwill initiative," Education Minister Ron Liepert announced Thursday. Teachers with 15 or fewer years of service will take home an extra $1,200 to $1,400 under the plan, Liepert said. But Frank Bruseker, president of the Alberta Teachers' Association, said the scheme will be divisive within the ATA ranks because new teachers and those with more than 20 years of experience won't reap the benefit. .
Pension plan expanded for some retirees
More retired police officers and firefighters stand to receive fully funded health insurance following the Battle Creek City Commission meeting Tuesday. As of last week, the commission was going to cover health insurance costs for 63 retiree contracts less than a third of all contracts. Under a new plan approved Tuesday, 77 of the approximately 203 contracts will be covered. .
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