Rechnitz also served as a go - between who helped connect Manhattan - based hedge fund manager Murray Huberfeld and Correction Officers» Benevolent Association President Norman Seabrook as part of a bribery scheme to steer $ 20 million in correction
union pension money to Platinum Partners hedge fund.
Seabrook and hedge fund founder Murray Huberfeld were indicted on conspiracy and honest services wire fraud for a scheme in which Seabrook allegedly took a $ 60,000 payoff in return for steering $ 20 million in
union pension money to Huberfeld's fund.
Not exact matches
«As I researched the idea of promoting savings in our sector, the idea of credit
union came into mind and I said that's it because it dawned on me that majority of the people don't have savings accounts, insurance cover or even
pension schemes and since I became the Chairman of GHAMRO I really felt the pinch because every now and then I get calls from members asking for advance payment of their royalty to either pay school fees, settle medical bills or to even solve other financial problems then I've realized that this vacuum has to be filled because GHAMRO doesn't have a policy to pay this type of
monies».
New York City Mayor Bill de Blasio said Monday his administration had reached disability
pension agreements with three municipal
unions, deals that raised the amount of
money received by employees who are injured on the job.
The mayor said his administration had reached disability
pension agreements with three municipal
unions, deals that raised the amount of
money received by employees who are injured on the job.
They also admit that
money cut from
pensions will go to the Treasury to help pay off the deficit, not into
pension schemes, which the
union says amounts to a tax on working in the public sector.
You scratch my back... Seabrook is accused of investing $ 20 million of
union money, largely his members»
pension funds, in Manhattan hedge fund Platinum Partners, for a price.
Troubled hedge fund Platinum Partners — which is holding $ 20 million in
pension money for the city's prison - guards
union — is officially under new management, The Post has learned.
Discussions were continuing and could still fall apart, but if a deal is reached it could safeguard the
union members»
pension money invested at the hedge fund.
Here the
union leader blithely ignores that the same economic activity would be generated by taxpayer
money if it were not diverted to
pensions in the first place.
This is notable because the
union's stated goal last year was to target groups and
money managers who supported «privatizing»
pensions (i.e. 401 (k) s).
One local
union seeking a raise during contract negotiations downplayed the district's
pension burden and argued there was actually enough
money in reserves to cover the higher pay it wanted.
If she can weaken the
union, she can weaken the
pension plans and thus save
money.
It used to be that a good
union job offered security and enough
money to pay the bills, buy a house and car and secure a
pension.
I don't understand how it's legal for a
union to effectively say, «We know how to handle your
money better than you do, you have NO CHOICE but to let us handle your
pension, oh and we'll be taking over 3 % of your gross income in
union dues as well.
In that time, teachers
unions have gained tremendous political power, Democrats have laundered millions of public
money through
union dues to the Democrat's campaigns, and public school teachers have gotten massive unfunded
pensions that are bankrupting states, but guarantee their efforts on election day in getting more progressives elected.
That
money would no longer be available for
union wages, fringes, healthcare or
pensions.
Evidently, pressure is building from the very top that RPI is a discredited measure of inflation which should be abolished to save the government
money; but many employee
pensions are linked to RPI, and
unions would strongly oppose any attempt to shift to a less volatile measure which would reduce payouts, such as the consumer price index (CPI) or the ONS» preferred index, «consumer price inflation including owner - occupiers» housing costs» (CPIH).
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