The Commission concluded a reduction to the cost of living adjustment in the amount of 50 % of CPI up to the maximum 3 % represented a reasonable level for setting the cost of living adjustment amount for the purposes of determining
the pension costs for regulatory purposes for all employees.
California may at first look like it is increasing funding for school districts, but in reality this budget serves only to blunt the impact of rising
pension costs for a year.
The state picks up
pension costs for suburban and downstate school districts, but city taxpayers have picked up the cost for Chicago Public Schools pensions.
When the stock market was performing well in the 1990s, the PSERS system (Public School Employees» Retirement System) used the opportunity to give school districts and the state, which contributes more than half of
pension costs for schools around Pennsylvania, a pension holiday.
And all districts will face substantial increases in
pension costs for teachers, which will rise an additional $ 3.7 billion collectively over the next four years.
The layoffs announced Monday by Chicago Public Schools — 62 workers, 17 of them teachers — were far milder than feared earlier in the school year, but the district's plan to end its longstanding practice of picking up
pension costs for teachers led to a fresh strike threat from the Chicago Teachers Union.
«Teacher Retirement Benefits: Even in economically tough times, costs are higher than ever,» by Robert Costrell and Michael Podgursky This study documents the growing gap between high employer
pension costs for public school teachers and lower employer
pension costs for private sector managers and professionals.
Between 2004 and 2012,
pension costs for public educators rose from 11.9 to 16.7 percent of salaries.
As is readily seen in the graph, the reason for the widening of the gap is increasing
pension costs for public school teachers.
When we did that in our 2011 analysis, we found that
pension costs for teachers were worth not the 11 percent of wages reported by the ECEC but a remarkable 32 percent of wages.
Between 2004 and 2012, data on fringe benefits from the Bureau of Labor Statistics show that
pension costs for public educators rose from 11.9 to 16.7 percent of salaries.
In contrast,
pension costs for professionals in private firms were relatively flat, at about 10 percent of salaries, over the same period.
The crippling explosion of
pension costs for the Chicago Public Schools has captured national attention.
And through it all,
the pension costs for city workers — particularly for police officers and firefighters, who can retire early and draw on those pensions for decades — kept going up.
• When Tier 6 was adopted two years ago, the governor's Division of Budget projected it would reduce
pension costs for state and local government by more than $ 35 billion over 30 years; and
«The agreement reached between the Governor and the Legislature on Tier VI will reduce
pension costs for new employees, but this new tier will not significantly lower costs for local governments in the short run.
In his State of the City speech Bloomberg said
pension costs for all city employees — not just teachers — have increased 360 percent since he became mayor in 2002 and calculated that if the subway fare had increased a similar amount, it would now cost straphangers $ 7.05 — each way — to go to work.
Pension costs for teachers and other professional school staffers are expected to rise about 10 percent in the 2018 - 19 school year for districts on Long Island and statewide after three years of reductions, according to estimates by the New York State Teachers» Retirement System.
About a year ago, she openly Cuomo's plan to postpone
pension costs for cities a «gimmick» on the op - ed page of The New York Times.
Never mind that police and fire pensions are the biggest driver of rising
pension costs for NYC.
The pension costs for the state's nearly 700 school districts will decline by 11.6 percent next year, the second year in a row contribution rates have fallen.
The projected 10 percent increase in
pension costs for the 2018 - 19 school year will mean tens of millions of dollars in extra expenses for districts in Nassau and Suffolk counties alone.
MIDDLETOWN — An increase in workers» compensation insurance premiums and
pension costs for city employees will make it tough for Middletown to develop a 2014 budget, Mayor Joseph DeStefano said.
Tax - funded public -
pension costs for every level of state government rose from absolutely minimal levels in 2000 to a grand total of more than $ 16 billion last year, half of it in New York City alone.
2011: Kodak shares fall by more than 80 per cent, partly because the company struggles to meet
pension costs for its employees
Cumulative employer contributions in excess of accrued net
pension cost for plans based in the company's home country.
The # 63.88 m figure includes National Insurance and
pensions costs for all 609 Hammers -LSB-...]
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance,
cost, and revenue under our contracts, including our ability to achieve certain
cost reductions with respect to the B787 program; 4) margin pressures and the potential
for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the
cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences
for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals
for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand
for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on
pension plan assets and the impact of future discount rate changes on
pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price
for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the
cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate
for our additional capital needs or
for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other
cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected
costs, charges, expenses, adverse changes to business relationships and other business disruptions
for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Two changes in particular are desperately required: the launch of a low -
cost carrier that can compete with upstarts like Air Transat and Sunwing, and relief
for the
pension woes.
Higher
costs for pensions are also a drag
for the firm.
The company has applied ASU 2017 - 07 retrospectively
for the presentation of the service
cost component and the other components of net periodic
pension cost and net periodic postretirement benefit
cost and prospectively
for the capitalization of the service
cost component of net periodic
pension cost and net periodic postretirement benefit in assets.
That's also the only logical explanation
for how Enron CEO Jeff Skilling and Adelphia chief John Rigas defrauded shareholders out of billions and
cost thousands of employees their jobs and
pensions.
Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities
for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed
cost reduction efforts and restructuring
costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13)
pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger
costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
Even worse, the
cost of carrying these well organized groups is very much understated: nearly all the public - sector
pension plans are underfunded by hundreds of billions of dollars and taxpayers are on the hook
for the difference.
Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, and capital markets conditions and other factors beyond the Company's control, including natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) the Company's credit ratings and its
cost of capital; (3) competitive conditions and customer preferences; (4) foreign currency exchange rates and fluctuations in those rates; (5) the timing and market acceptance of new product offerings; (6) the availability and
cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) unanticipated problems or delays with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10) financial market risks that may affect the Company's funding obligations under defined benefit
pension and postretirement plans; and (11) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10 - K
for the year ended Dec. 31, 2017, and any subsequent quarterly reports on Form 10 - Q (the «Reports»).
As a result, operating income
for 3M's business segments has been revised to reflect non-service
cost related
pension and postretirement net periodic benefit
costs within other expense (income) net.
Retirees are facing problems very similar to the average
pension fund: In addition to not having enough cash contributions to keep up with the
costs of aging, their returns have been hurt by interest rates that have been too low
for too long.
He also supported a robust
pension reform plan in 2011 that raised the retirement age and eliminated
cost - of - living adjustments
for beneficiaries.
These benefits would (i) largely go to developers and contractors
for infrastructure projects like new pipelines that would happen even without new incentives and so be highly regressive; (ii) raise
costs by failing to reach the tax - free
pension funds, sovereign wealth funds and international investors who are the most plausible sources of incremental infrastructure finance; (iii) not encourage at all the highest return maintenance projects like fixing potholes that do not yield a pecuniary return
for investors; and (iv) by offering credits at an unprecedented 82 percent rate, invite all kinds of tax shelter abuse.
When it comes to
costs, Cambodia ranked first in the
Cost of Living category in International Living's 2016 Annual Global Retirement Index, making it an enticing proposition
for those on limited incomes or
pensions seeking an affordable place to relocate overseas and enjoy relative luxury.
States, through their employee
pension plans, sponsor excellent financial institutions that, on a not -
for - profit basis, get the highest returns
for the least
cost.
As more local governments find themselves unable to meet the increasing
costs, particularly related to
pensions and retiree health benefits, municipalities have begun to more seriously consider debt restructuring under the bankruptcy code as an option
for right - sizing their budgets.
thanks, and yes, a pittance of a
pension and regular checkups keep us on budget and head off any problems — best decision i ever made (financial or otherwise) was serving our country doing search - and - rescue, oil and chemical spill remediation, etc. (you can guess the branch of service)-- along the way, frugal living, along with dollar -
cost averaging, asset allocation, and diversification allowed us to retire early — Vanguard has been very good over the years, despite the Dot Bomb, 2002, and the recession (where we actually came out better with a modest but bargain retirement home purchase)... it's not easy building additional «legs» on a retirement platform, but now that we're here, cash, real estate, investments and insurance products, along with a small
pension all help to avoid any real dependence on social security (we won't even need it at full retirement age)-- however, like nearly everybody, we're headed
for Medicare in several years, albeit with a nice supplemental and pharmacy benefits — but our main concern is staying fit, active, and healthy!
We add the $ 727 in non-operating
pension costs back to NOPAT
for DD.
In the future,
pension benefits will become a major
cost driver
for the federal government, which could put pressure on the government to maintain a sustainable fiscal framework.
These benefits would (i) largely go to developers and contractors
for infrastructure projects like new pipelines that would happen even without new incentives and so be highly regressive; (ii) raise
costs by failing to reach the tax - free
pension funds, sovereign wealth funds and international investors that are the most plausible sources of incremental infrastructure finance; (iii) not encourage at all the highest return maintenance projects like fixing potholes that do not yield a pecuniary return
for investors; and (iv) by offering credits at an unprecedented 82 per cent rate, invite all kinds of tax - shelter abuse.
«It's vital that
pension savers have low
cost, high quality options
for mitigating climate risk in their portfolios,» she said.
However, at the end of 2009 - 10, the Government booked the full liability ($ 5.9 billion)
for the one - time HST harmonization
costs for Ontario and British Columbia and an increase in accrual liabilities
for federal employee
pensions of about $ 3 billion.
Just
for fun, try calculating the all - in labour
cost for someone you know. I tried it on my spouse, who is a university professor. I added her healthy salary to her current service
pension cost and other benefits and payroll taxes. I threw in an extra amount to reflect the
pension deficit that her university is now grappling with (thanks to the market meltdown).
CPP Death Benefit The Canada
Pension Plan death benefit is a one - time, lump - sum payment to your estate that can help to pay
for funeral
costs.