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pension

Federation pension fund struggles

A retirement plan run by The Jewish Federation of Greater Los Angeles is more than $25 million underfunded, according to financial statements filed in October. The statements say the pension fund, which holds savings for more than 2,000 employees working for eight different Jewish-affiliated organizations, hold assets equivalent to only 76.1 percent of its projected liabilities. Because that number is below 80 percent, the Internal Revenue Service considers the fund in “endangered status” or a “yellow zone.”

Over 65 group could decide who wins this year’s presidential election

Neither candidate on the campaign trail has spoken often on issues that matter to seniors, and when they have, it\’s been underreported by much of the media. So at the end of the day, how different are the candidates — and their respective political parties — from each other when it comes to issues of great importance to seniors, such as long-term care, Social Security, medical insurance and taxes?

A ‘Promise’ to Help Jews Overseas

The thought of Klara Kogan, who exists on a paltry government pension, haunts Steven Schwager, executive vice president of the American Jewish Joint Distribution Committee (JDC), which provides relief and welfare to Jews abroad.

Briefs

The number of reported hate crimes in Los Angeles County was lower in 2003 than 2002, and while that decrease is part of a 12-year decline, Jews remain a highly visible, often-targeted religious group.

Federation Faces Underfunded Pension

Faced with a pension shortfall of $20 million, the organized Jewish community\’s largest philanthropy finds itself forced to divert millions of donor dollars to employee retirement benefits, rather than to needed social services.

What a $230 Million Deal Means to You

After last-minute negotiating, Austria, the United States and Jewish groups signed an agreement two weeks ago under which Austria agreed to pay $210 million, plus about $20 million in interest, to cover victims\’ property claims and unpaid insurance polices. The government also will pay an estimated $100 million in social welfare benefits to Austrian Jews.

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