The German Bundestag unanimously passed legislation approving back payments of so-called ghetto pensions for Jewish survivors. The law, reflecting years of negotiations, was approved by the Federal Cabinet in April and sent to the Bundestag. It requires retroactive payments of a few hundred euros per month going as far back as July 1, 1997. Reportedly,…
The College Retirement Equities Fund can ignore a controversial customer proposal calling for it to end investments in companies that support “Israel’s occupation,” the U.S. Securities and Exchange Commission has ruled. In a May 10 letter and a follow-up reconsideration letter, the SEC said it would take “no action” against CREF for declining to put…
Hungary’s national soccer team will face sanctions because of anti-Semitic chants by its fans in August, the FIFA soccer association has announced. The punishment handed out by the Fédération Internationale de Football Association’s disciplinary committee on Jan. 8 included a $43,000 fine to be paid by the Hungarian MLSZ national team. It will also have…
Hungary reportedly intends to raise pensions to Holocaust survivors by 50 percent in 2013, the 70th anniversary of the extermination of Hungarian Jewry. The increase in pensions will affect about 8,000 Holocaust survivors, who can expect to see more money as early as Jan. 1, according to the news site Hungary Around the Clock. Another…
The government’s recent takeover of B’nai B’rith International’s pension plan, which is more than $25 million in debt, raises serious questions about the long-term viability of the 169-year-old, once-giant Jewish organization. The plan, which has about 500 participants, has $55.6 million in liabilities but only $30.1 million in assets. On Sept. 11, the federal government’s…
A problem facing rabbis and cantors who are not affiliated with major Jewish denominations could be headed toward a resolution, with a grassroots effort to provide retirement solutions to clergy working outside the mainstream rabbinical institutions. A new pension plan will provide a growing number of Jewish clergy who were ordained outside the major movements…
Seeking to cut pension costs, Jewish social service groups are using an obscure tax loophole to skirt federal rules that protect workers from being left out in the cold if their retirement plans collapse. Jewish organizations, including federations and hospitals, have filed for the special “church status” that strips workers and retirees of legal protections…
In this financial climate, investments are pretty unpredictable. In fact, one could say — God knows what is a safe investment. So why not get God on your side? That is exactly what the Harel Group, Israel’s largest investment and insurance company, has attempted to do. Earlier this month, Haredi media report, Rabbi Yosef Shalom…
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