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Pension and Welfare

A collection of news and information related to Pension and Welfare published by this site and its partners.

Top Pension and Welfare Articles see all

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  • News of the Weird: A Piece of the Action

    News of the Weird: A Piece of the Action
    “Fantasy sports” are hugely popular, but when fans “draft” players for their teams, they “own” only the players' statistics. Recently, Wall Street and Silicon Valley entrepreneurs created Fantex Holdings, which will allow investors to buy actual pieces of real players — namely, rights to 20 percent of the player's lifetime earnings (including licensing and product endorsement deals). The firm told The New York Times in October that it will soon stage an “IPO” for budding NFL star Arian Foster and hopes to sign up many more athletes, plus singers and actors similarly early in their careers. (On the other hand, Fantex's lawyers drew up a 37-page list of potential investment risks, such as injuries, slumps and scandals — and the fact that the stock will trade only on Fantex's private exchange.)
  • Illinois is one day closer to a pension fix. Look out.

    Illinois is one day closer to a pension fix. Look out.
    Strikeout: Sangamon County Circuit Judge John Belz has ruled Illinois' pension reform law unconstitutional. "The Act without question diminishes and impairs the benefits of membership in State retirement systems," he wrote in a firm, six-page ruling...

    U.S. threatens to cut food stamp funding to Maine in photo ID row

    By Dave Sherwood BRUNSWICK Maine (Reuters) - The federal government has threatened to cut funding for Maine's food stamp program, saying the state may be violating recipients' civil rights by requiring welfare cards to bear their photograph. Maine began...

    Aviva in $8.8 billion deal to buy Friends Life after pensions shake-up

    By Roshni Menon and Carolyn Cohn LONDON (Reuters) - British insurer Aviva said on Friday it had agreed terms on a possible deal to buy rival Friends Life for 5.6 billion pounds ($8.8 billion) as British pension reforms put pressure on insurance...

    Newport council to consider faster pension payoff

    The Newport Beach City Council will consider a plan Tuesday night to more quickly fund employee pensions. Instead of rolling forward the unfunded pension liability — the difference between the amount the city will owe in retirement benefits and...