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Page 117 - This principle is now part of the body of generally accepted accounting principles set forth by the Accounting Principles Board of the American Institute of Certified Public Accountants.
Page 27 - About three-fourths of the units reported" that the amount of their financial assets was about the same at the end as at the beginning of the year. About half of these had no assets or less than $500 worth of assets. On the whole, the elderly were using up their assets; nearly 17 percent reported decreases during the year; less than half as many were able to increase their financial assets. The proportion decreasing their assets did not vary consistently or greatly among marital status, age, or income...
Page 61 - In the long run the development of a dual economy is characterized by a growth in industrial output at a rate equal to the sum of the rate of growth of population and the ratio of the rate of technological progress in industry to the share of labour in that sector.
Page 209 - These and other estimates of the fertility of the poor, near-poor, and non-poor are derived from special tabulations by the Bureau of the Census from the Current Population Survey for March, 1966. Poverty status has been defined with the use of the Social Security Administration's criteria, which are described in Mollie Orshansky, "Who's Who Among the Poor: A Democratic View of Poverty," Social Security Bulletin (July, 1965).
Page 83 - The requisites are: (1) The cost must not exceed fair market value at time of purchase; (2) a fair return commensurate with the prevailing rate must be provided; (3) sufficient liquidity must be maintained to permit distributions in accordance with the terms of the plan; and (4) the safeguards and diversity that a prudent investor would adhere to must be present.
Page 121 - I am vice president and general counsel of John Hancock Mutual Life Insurance Co. Our company has its home office in Boston, Mass., and is qualified to do business in all 50 States; it is the fifth largest life insurance company and insures over 14 million persons. Our company is a member of both the American Life Convention and the Life Insurance Association of America, and we are aware of the statement on HR 11798 filed jointly by those two associations. We are making this appearance to express...
Page 33 - ... fixed number of years, the attainment of a stated age, or upon the prior occurrence of some event such as layoff, illness, disability, retirement, death, or severance of employment.
Page 3 - ... be passed on to the consuming public in the form of higher prices. It has been argued that from a broad social point of view, the private pension system is the lowest cost method of providing economic security for the aged. In addition to the administrative efficiency of group savings arrangements, it is argued that the small increase in consumer prices that might be required to provide pension benefits is a relatively painless method of meeting the risk.
Page 254 - Grant from the Office of Manpower Policy, Evaluation and Research, US Department of Labor, under the authority of Title I of the Manpower Development and Training Act of 1962.
Page 184 - ... children under age 18 being reared in poverty went down from 16.6 million in 1959 to 12.5 million in 1966, but the number near poor dipped by only 0.4 million to reach 6.6 million. All told, even in 1966, after a continued run of prosperity and steadily rising family income, one- fourth of the Nation s children were in families living in poverty or hovering just above the poverty line.

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