| Colorado Governor Ritter Signs Darfur Divestment Bill
April 19, 2007 -- Colorado Governor Bill Ritter today signed into law the nation's toughest targeted divestment bill aimed at ending the suffering in Darfur. HB 1184, supported by a broad bipartisan coalition of lawmakers, cuts the financial ties between the state's public pension funds and companies that support the Sudanese government responsible for the atrocities in Darfur. “This bill is especially meaningful to me because of my time in Africa," Gov. Ritter said. “Colorado has no business supporting companies that facilitate genocide. Targeted investment can help insure our pension funds are redirected in a responsible way, and by joining with other states we can send a strong message that what is happening in Darfur is unacceptable." The genocidal government of Sudan is heavily reliant on foreign investment, and spends more than 70 percent of its oil revenue on a military force that perpetuates genocide.
China to transfer US$9b in pensions to fund managers
China will transfer more than US$9.1 billion in company pension plans to selected fund managers by the end of this year, the Labor Ministry said Thursday. China's market for enterprise annuities, as the plans are known, is expected to grow by 30 billion to 50 billion yuan, or US$3.9 billion to US$6.5 billion, in 2007, said Liu Yongfu, a vice minister for labor. China's company pensions market was valued at about 90 billion yuan at the end of last year, of which 20 billion yuan has already been transferred to fund managers, according to Liu. All company pension plans rolled out in the future will be handled by fund professionals, he said. China allows 37 firms to handle these funds, he said. Of these, four are joint-venture fund houses, according to a KPMG-Reuters research report.
Retirement plans should fit life stages
Retirement planning is like budgeting. We know we ought to do it, but few of us pay more than lip service to it.
A recent survey of 1,000 people by Scottrade Inc., the discount brokerage firm based in St. Louis County, shows that retirement is Americans' top financial concern. However, two-thirds of those surveyed didn't think they were saving enough for retirement, while a third think they will be unable to retire.
You're worried. So, what's next? Retirement-planning experts say you can begin at any stage of life. Approaches to planning typically vary by your age, income and relative wealth. But the need for it cuts across all age groups and income levels.
First, you might want to think about goals. What does retirement mean to you? Quitting work and moving to a tropical getaway? Changing to a low-stress job? Turning a hobby into a business? Living out your days with your feet up in your own home? .
Amateur chefs line up to dazzle judges
In a Washington County version of "Iron Chef America," appropriately titled the Men's Culinary Classic, local amateur chefs will test their prowess in the kitchen and maybe go home with a prize for their efforts. Last year, the first classic, held at the Washington County Fairgrounds in Chartiers, drew 27 entrants who vied for the People's Choice Award. This year, the fund-raiser for Community Action Southwest, scheduled from 6 to 9 p.m. April 21, is expected to draw more chef wannabees. .
Eliminating retirement age brings NS into 21st century
BY introducing legislation to abolish mandatory retirement, Nova Scotia is entering the 21st century. With people living longer and healthier and an impending skilled labour shortage, legislators are practising good public policy and catching up to the rest of Canada and the developed world. The freedom to choose when to leave work is a basic human right. There is no reason to discriminate against employees of any age other than inability to perform the functions of the job. Until now, the Nova Scotia Human Rights Act, seeming to prohibit age discrimination, had a loophole. It exempted situations where a "bona fide retirement or pension" plan was in effect. Whether the plan was generous or stingy, as long as a specific retirement age was mentioned, bosses could force workers to leave.
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