Pension funds bust. (Histadrut Labor Federation pension funds)

From: Israel Business Today | Date: April 7, 1995 | Copyright information

The Histadrut Labor Federation's pension funds, which have an actuary deficit of about $14 billion, received a government commitment to support full payment to all those who began pension plans before January 1, 1995. The move is estimated to cost the government upwards of $25 billion over the next 50 years, as the Treasury will cover to funds' deficits, while it continues to issue "special" linked bonds ...

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