John Carleton

John Carleton
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  • New Jersey Resources: Superstorm Creates A Superb Opportunity  [View article]
    I have owned NJR for more than 25 years and it's been a great ride.
    Nov 13, 2013. 10:25 PM | Likes Like |Link to Comment
  • A U.S district court has granted class-action status to a suit contesting the sale of 41K Verizon (VZ) pension plans (total obligations of $8.5B) to Prudential (PRU). The plaintiffs argue the deal "replaces retirees' pensions with non-ERISA protected insurance annuities, thus stripping participants of the protections of federal law and causing irreparable harm."  [View news story]
    I would like to know if, by annuitizing the 41K management pensions, Verizon can eliminate their payments into the Federal Pension Guarantee Fund. If so, and other companies jump on the band wagon, it could have a serious impact on that fund.
    Apr 1, 2013. 10:52 PM | Likes Like |Link to Comment