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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: pension plan

pension plan stories: 2 news summaries

California Says Bank
Fleeced Pension Funds

State seeks $200M from State Street Bank of Boston

Oct 20, 09 5:11 PM CDT
(Newser) - California sued a Boston bank today and accused it of ripping off $56.6 million from two state pension funds. It wants all that money back, plus another $150 million in penalties. Attorney General Jerry Brown accused State Street Bank of "unconscionable fraud" and called it "just the... More »

MORE ABOUT:
California • pensions • currency exchange • pension plan

Lewis Due a Mere $53M
From BofA Pension Plan

But President Obama's pay czar could yet step in on that, millions in stock

Oct 1, 09 8:08 PM CDT
(Newser) - An executive pension plan Bank of America stopped in 2001—along with “golden parachute” balloon payments to execs leaving the company—will yield about $53 million for departing CEO Ken Lewis. Lewis, 62, participated for years in the plan, which was frozen the year he ascended to the top... More »

MORE ABOUT:
stock market • executive compensation • Bank of America • retirement • golden parachutes • financial crisis • Ken Lewis • pension plan

2 Stories


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