Lift-off for new Airbus DC scheme in Germany

first_imgThere will be no shift in allocation based on members’ age, as Airbus found that many so-called ‘lifecycle’ models had returned less than the projected returns from the company’s new pension plan.How it worksTo give members some certainty and an idea of what to expect as a pension payout to its staff, the company intends to grant a target return determined each year. Of this, around 70% will be paid monthly into each employee’s individual account.#*#*Show Fullscreen*#*# The German entities of international engineering firm Airbus have revamped their company pension plan to lower the risk for the employer and increase potential returns for employees. The new plan was set up at the end of last year, and 20,000 people have already joined since the start of January. “This is about half our staff,” confirmed Markus Wilhelm, head of pensions at Airbus Germany, speaking at the Zukunftsmarkt Altersvorsorge conference in Berlin last month.Airbus has allocated 70% of the new plan to equities and 30% bonds. Lift-off for new pension plan: 20,000 employees have already signed up for Airbus’ new arrangementsAny excess return above this level will be paid into a buffer pool capped for tax reasons. According to Wilhelm, German authorities “had assumed we wanted to shift profits into this pool”.Once the pool is full, the remaining funds will be divided up among the members’ individual accounts.In years of lower than expected returns or negative performance, the buffer fund will be used to compensate shortfalls. Payments to individual accounts will only be reduced if the buffer fund is insufficient. People closer to retirement will not get any money from the buffer fund, but also will not have to pay into it in times of shortfalls.The idea of granting a target rate of return – known in Germany as Zielrente, or ‘defined ambition’ – is similar to one of the measures brought in by Germany’s Betriebsrentenstärkungsgesetz (BRSG) reform, although no industry-wide non-guaranteed pension plans have yet been introduced.Maintaining controlWilhelm said Airbus chose to keep the pension arrangements in house via a Direktzusage arrangement, essentially paying benefits direct from the company balance sheet.“We talked about a Pensionsfonds or other outsourcing but we wanted to keep control,” he said.Wilhelm explained that any external vehicle might be exposed to changes in the legal framework and the company “does not want to be forced to make changes we do not like”.Under the old pension plan – which is now closed to new entries – Airbus offered a 5% guaranteed return on accrued assets. This had become too expensive and liabilities had been too volatile, differing by up to €3bn per year, Wilhelm said.At the end of 2017, Airbus’ defined benefit obligations for Germany amounted to €9.8bn, and it had put aside €4bn in plan assets.For employees the old plan seemed very attractive, but Wilhelm said its Achilles’ heel was that inflation was not covered.“Back-testing showed returns from the plan with fixed guarantees were not always positive for the members in real terms,” Wilhelm said.Convincing the employees of the new pension plan’s benefits was a long-term effort involving “a lot of detailed information sessions with the employee representatives”, he said.He added that the new pension plan made it easier for Airbus to grant a conditional target return.“For the real tail risks we still have the company as financial back up, as it wanted to reduce its pension risk but not get rid of it completely,” the pension chief said.last_img read more

WTA Classic: Serena glad to be back in New Zealand

first_imgSerena Williams returns to the Auckland WTA Classic on Monday for the first time since her “miserable” debut appearance three years ago, determined to put the record straight. “I’m in a really different frame of mind,” she said ahead of her opening match on day one – a marquee doubles appearance partnering Caroline Wozniacki – with her first round singles against long-time rival Svetlana Kuznetsova expected on Tuesday. Despite her quick exit in 2017, Williams went on to win the Australian Open for her 23rd major title, but has not won a tournament since. Williams, who has a 10-3 record against Kuznetsova in a 16-year rivalry, said she was pleased to be playing her “really good friend” first up. “I like to play really tough opponents in the first round, and there’s no better way to start than to start serious. I really love her and adore her, and I wish it could’ve been a little bit later, for both of us,” she said. She was also looking forward to playing with former world number one Wozniacki in the doubles, calling the Dane “one of my best friends”. The 38-year-old Williams is banking on Auckland setting her up for an unprecedented 24th major title at the Australian Open later in the month. Williams was way below par when she played in Auckland in 2017, complaining about the windy conditions, being abrupt in interviews and could not wait to get out of the country as soon as she lost in the second round to Madison Brengle. But she says the anger she felt then has gone. “I’m not pregnant, as a start, so that works, so I can only do good now,” the tournament top seed and world number 10 joked with journalists as she reflected on how she was unaware at the time that she was six weeks pregnant with her daughter Alexis Olympia. “I just remember it was windy and being angry, hating my now husband (Alexis Ohanian). I was like ‘I can’t stand you and I don’t know why,’” she said. “Obviously at the time I didn’t know why either … I was six weeks pregnant and I had no idea. So looking back it’s so surreal and crazy and now that I’m here, I have all of these funny memories of being miserable. “I always knew that I would have to come back, for sure. I didn’t even realize what was happening, and now I’m here with my daughter. “This is kind of where it all began. It’s amazing. It’s so exciting to be here with her, and to know that this is literally where it started.” Loading… Read Also:Nadal gets 2020 season underway with a win Meanwhile, the Auckland tournament has been hit with the late withdrawal of seventh seed Jelena Ostapenko who pulled out for “personal reasons”. The 22-year-old Latvian, who won the French Open in 2017, is the second high-profile withdrawal with Canadian Bianca Andreescu pulling out last month due to her ongoing knee problems. Andreescu defeated Williams to claim the US Open title in September last year. FacebookTwitterWhatsAppEmail分享 last_img read more

Riedner races to $1,099 checkers at Luxemburg’s Soukup Memorial

first_imgBy Greg AregoniLUXEMBURG, Wis. (June 17) – Brandon Riedner loved his trip to Luxemburg Speedway.  He loved the trip so much he went home $1,099 richer courtesy of his 30-lap Karl Chevrolet Northern SportMod John Soukup Memorial feature win.Todd Wiese came into night as the defending race winner defending the home turf. Riedner came in as the visitor trying to steal the show and did just that.Wiese led from the drop of the green flag and through a series of early cautions which allowed Riedner to join the race for the win.Riedner showed his racer on lap 20 and made what proved to be winning move on lap 23.  Riedner flew past down low and into the lead. Wiese gave chase up on top and actually gained on the leader only to bobble with a couple laps remaining.Wiese finished second, Lucas Lamberies finished third after starting 16th, point leader Chris Budzban finished fourth after starting 18th and Kyle Raddant was fifth.Other winners included Lance Arneson in the Xtreme Motor Sports IMCA Modifieds and Evan Madden in the IMCA Sunoco Stock Cars.last_img read more

Fairfield Causeway Road to open today

first_imgBrookville, IN—Fairfield Causeway Road over Brookville Lake in Franklin County is scheduled to reopen today following a $2 million bridge rehabilitation project that began this past spring. The project included waterline maintenance, roadway resurfacing, and bridge painting.last_img

Brilliant Mo Farah wins 5,000m to achieve ‘double-double’

first_imgGREAT Britain’s Mo Farah won his fourth Olympic gold medal as he became only the second man in history to retain the 5,000m and 10,000m titles.The 33-year-old won yesterday’s 5,000m final in Rio to extend his tally as Britain’s most successful Olympic track and field athlete of all time.Farah won in 13 minutes 3.30 seconds as Scot Andrew Butchart finished fourth.“It shows I didn’t just fluke it in London. To do it again is incredible. I can’t believe it,” said Farah.Farah’s was GB’s 27th gold in Rio and their 65th medal, matching the haul at London 2012.They surpassed that tally when the women’s 4x400m relay team won bronze shortly after.Ethiopians Dejen Gebremeske and Hagos Gebrhiwet took turns to set a quick pace in the first half of the race.Farah moved to the front shortly after the 3,000m mark, taking control of the pace before accelerating to hold on in the final straight.“I was surprised by the first lap; I thought it was going to be a slow race,” said Farah.“They had a plan – they wanted to take the sting out of me. But when I hit the front, I wasn’t letting anyone past me.”Farah finished 0.6secs clear of American Paul Kipkemoi Chelimo, who was disqualified along with fourth-placed Muktar Edris of Ethiopia and Canada’s Mohammed Ahmed in fifth.Gebrhiwet, who crossed the line in third, won silver, and Bernard Lagat of the United States was promoted from sixth place to bronze.The disqualifications pushed Butchart, who ran a personal best of 13:08.61, up to fourth.(BBC Sport)last_img read more

Brathwaite becomes fifth Windies batsman to carry his bat through a Test innings

first_imgBy Bharath Seervi5 Number of West Indies batsmen who have carried their bat through a Test innings. Kraigg Brathwaite became the fifth.The only other West Indies batsman to carry his bat in the last 20 years was Chris Gayle, against Australia at Adelaide Oval in 2009-10. The three instances prior to Gayle were all by Desmond Haynes, between 1986 and 1993. Frank Worrell (1957) and Conrad Hunte (165) were the other two to achieve this feat.9 Instances of batsmen carrying their bat against Pakistan – the second-most against any side. Three of the last four instances against Pakistan, before Brathwaite, were by Zimbabwe players.There were five instances of batsmen doing this against Pakistan in 1990s but Brathwaite is only the second since 2000. The team against which this has happened the most is England (13 times), and the least is against Sri Lanka (twice).1 Only one of the previous six instances of West Indies batsmen carrying their bat have resulted in wins – Haynes (143*) against Pakistan in Port of Spain in 1992-93. Overall, only 13 of the previous 50 instances have resulted in wins.3 Batsmen who have carried their bat in the last 14 months. Dean Elgar and Cheteshwar Pujara did this last year. There were no such instances for about three-and-a-half years between January 2011 and August 2015.13 Before this match, West Indies had failed to take a lead in 13 consecutive Tests when batting second. In those matches, they conceded an average lead of 204. In away matches, when batting second, in matches excluding Bangladesh, the last time West Indies took a lead was way back in 2006 in Multan.3 Number of top-order batsman (Nos. 1 to 6) to bag two pairs in a year – Asad Shafiq became the third. The previous two were: Mohinder Amarnath in 1983 and Mark Waugh in 1992. Both Amarnath and Waugh had got those pairs in the same series, unlike Shafiq. Shafiq is only the second Pakistan player from any batting position to get two pairs in a year after Shabbir Ahmed in 2005.2 Instances of Pakistan’s top-four batsmen aggregating four ducks in a Test. The only previous instance was also in Sharjah, in 2002-03, against Australia. In this match, Shafiq got a pair, Azhar Ali scored zero in the first innings and Younis Khan in the second. This was Younis’ fourth duck in the UAE, and his third in Sharjah.2 Pakistan’s 281 in this Test was the second smallest total in a completed Test innings to include four individual fifty-plus scores. New Zealand had scored only 275 in an innings inclusive of four fifties against Pakistan in Hamilton in 2010-11.2 Five-wicket hauls for Wahab Riaz. This is his 20th Test. His first five-for was against England at The Oval in 2010 on his debut, and the second came in this match after a gap of six years.1 Number of three-wicket hauls for Jason Holder in Tests prior to this series, in 17 matches. In this series he has had two such hauls, including the one in the second innings of this Test. This is only his second series, out of eight, in which he has taken more than five wickets. In the four matches of the home series against India recently, he had taken only one wicket. (ESPN Cricinfo)last_img read more

Marsh brothers put Aussies on top after Khawaja’s 171

first_imgBy Nick MulvenneySYDNEY (Reuters) – Usman Khawaja hit a mammoth 171 and Shaun Marsh was approaching his sixth test century as Australia eased 133 runs ahead of England on 479 for four after the third day of the fifth Ashes clash on Saturday.Khawaja shared a stand of 188 with captain Steve Smith, who was dismissed just before lunch, and another of 101 with Marsh, who just missed out on his second hundred of the series in the over before stumps. Marsh will resume on 98 on day four with his brother Mitchell, who was 63 not out, as they look to bat the tourists out of the match and set up an opportunity for their bowlers to secure a win that would give Australia a 4-0 series triumph.The Marsh brothers combined for 104 in the final session and punished England with a flurry of boundaries in the last hour as the bowlers tired after a long day’s slog in bright sunshine at the Sydney Cricket Ground. It was Khawaja’s sure hand, though, that guided Australia past England’s tally of 346 after Mooen Ali (1-125) had stunned a packed house by moving the apparently unmoveable when he dismissed Smith caught and bowled for 83. ”It’s awesome,“ Khawaja said of his innings.”The SCG was where I grew up playing cricket for New South Wales and an Ashes century is something I have wanted for a long time and I haven’t been able to achieve, so it was very satisfying. “You don’t get to celebrate test centuries too much unless you’re Steve Smith. You’ve got to enjoy them when they come.” Smith had already scored three centuries, two of them unbeaten and one a double, in the series and although denied a fourth, walked off his home ground having amassed 687 runs at an average of 137.4 over the five tests.Khawaja had an lbw scare in the following over but was reprieved when TV pictures showed Mason Crane had bowled a no ball and he otherwise looked assured as he calmly totted up the runs in the face of some tight English bowling. fine stroke-player but considered suspect against spin bowling, Khawaja has had a stop-start career in the baggy green since making his debut at the SCG in the corresponding Ashes clash eight years ago. OVATION He wasted no time in knocking off the nine runs he needed to secure his maiden hundred against England at the start of the day, cutting Moeen for two before soaking up the ovation from a crowd largely clad in pink in support of Glenn McGrath’s cancer charity.Spinner Moeen was again bowling when he reached the 150-run mark, two consecutive fours to get over the mark a rare flourish in a 381-ball innings that contained 18 of them along with a solitary six.England captain Joe Root came closest to a breakthrough in the second session when Shaun Marsh, on 22, was given out caught behind only for the decision to be reversed when TV pictures showed a big gap between ball and bat.It was debutant leg-spinner Crane who finally ended the 31-year-old’s time out in the middle to claim his first test victim, beating the bat to leave Khawaja stranded and Jonny Bairstow with a simple stumping. Crane, 20, attracted the ire of the crowd with his habit of pulling out of his run-up but kept his head up despite finishing with figures of 1-125. It was a very good day on the decision review system for Australia with Mitchell Marsh also reversing a late lbw decision after the snicko revealed an inside edge.“It was pretty tough,” said Bairstow. “We’re 150 overs into the innings so there’s going to be a few tired bodies but I thought the way the guys toiled out there and worked hard was really impressive.” Australia won back the Ashes with victories in the first three matches in Brisbane, Adelaide and Perth with the fourth test in Melbourne finishing in a draw last week.ENGLAND 1st innings (346)Australia  1st innings (overnight) 193 for 2 Bancroft b Broad 0 Warner c Bairstow b Anderson 56 Khawaja st Bairstow b Crane 171 Smith c&b Ali (c) 83 Marsh not out 98 Marsh not out 63Extras: (b-2,lb 3 1w, 2nb-) 8Total: Four wickets (157.0 overs) 479Fall of wickets: 1-1, 2-86 , 3-274, 4-375Bowling: J. Anderson 30-11-52-1, S. Broad 23-2-70-1, M. Ali 37-9-125-1, T. Curran 20.-2-71-0, M. Crane 39-3-135-1, J. Root 8-3-21-0.last_img read more

ExxonMobil Schools’ futsal tourney| CWSS inaugural champions

first_imgON Saturday, the curtain fell on the first New Era Entertainment (NEE) in collaboration with ExxonMobil, schools’ futsal tournament that was contested amongst institutions in the mining town of Linden.As expected, the perennially competitive Christianburg/Wismar Secondary School (CWSS) clinched the inaugural championship after earning a hard-fought victory over Linden Technical Institute (L.T.I.) in the final via kicks from the penalty mark at the Mackenzie Sports Club (MSC) basketball court.CWSS prevailed 7-6 and Kevin Dornick was named most valuable player (MVP).In the third-place playoff, Mackenzie High School (M.H.S.) made light work of Linden Foundation 4-1.CWSS pocketed $600,000 for the win while LTI carted off $250,000. MHS received $100,000 for their third-place finish while Linden Foundation walked away with $50,000.All prize monies will go towards a project of the schools’ choice.The NEE promotional group will now switch their focus to their annual Mohamed’s Enterprise/ExxonMobil senior futsal championships that is set to be launched on Wednesday.last_img read more

HUNTING SEASON: Hunt dominates, earns starting quarterback job as Syracuse routs Wagner in home opener

first_img Published on September 14, 2013 at 7:03 pm Contact Stephen: sebail01@syr.edu | @Stephen_Bailey1 Terrel Hunt watched from the sideline as Drew Allen floated a short pass over the Wagner defense and into the waiting hands of Christopher Clark in the back of the end zone.He’d been there before. That’s where he absorbed almost all of Syracuse’s two season-opening losses – defeats trifled with six Allen interceptions.  Hunt spent each offensive drive wondering if and when he would get his chance to play.This time, though, Hunt was smiling. He had nothing to worry about.This time it was Allen who should have been nervous. Because Hunt had already gotten his chance, and he blew the Seahawks’ defense away.AdvertisementThis is placeholder text“I’ve worked hard for this moment and it finally came,” Hunt said. “I feel like I maximized on my opportunity.”Twenty-four days ago, Hunt went from front-runner to back burner. The redshirt sophomore who dominated first-team reps in the spring officially lost the starting job to Allen, the Oklahoma transfer, 10 days before the start of the season.But in only seven drives, he reversed the roles again as Syracuse (1-2) tromped Wagner (1-2) 54-0 in front of 33,299 in the Carrier Dome on Saturday. Hunt completed 15-of-18 passes for 265 yards and three touchdowns in the Orange’s home opener, leading the offense to a score on every drive he manned.“I’m excited as hell about the way he played,” SU head coach Scott Shafer said. “I really am. I think the kids rallied around him, too.”Hunt found Prince-Tyson Gulley on a swing pass for a 30-yard touchdown to start the second quarter, connected with a wide-open Clark for a 41-yard bomb just before halftime and launched a beautiful 65-yard scoring strike to Jarrod West on his final play.But before the 44-point rampage he catalyzed, Hunt watched from the sideline as Allen twiddled his thumbs on SU’s first three drives.The Orange offense failed to pick up a single first down. It gained five total yards. A stream of boos filled the stadium as Allen walked off the field following a screen to Gulley that lost four yards.But that marked the end of SU’s frustrations.Hunt entered with a 3-0 lead and 7:07 left in the first quarter, and converted all three third downs he faced that drive. He found Jeremiah Kobena on an in route to move the first set of chains. Then after Jerome Smith scampered up the middle for 15 yards to the Wagner 41-yard line, Hunt hit West on two identical button routes to push SU to the 3-yard line.“Last year he wasn’t even on the depth chart,” Syracuse quarterbacks coach Tim Lester said. “He wasn’t even three, four deep. He was only getting reps as the scout team quarterback.”Two plays later, Smith plunged into the end zone and a demonstrative rout blurred the next two full quarters.One minute, Hunt was beaming into the Carrier Dome stands, smiling ear-to-ear while on the phone with offensive coordinator George McDonald. The next, he was back on the field, leading the Orange to four more touchdown drives before halftime.Sixty-four yards. Fifty-nine yards. Forty-nine yards. Seventy-three yards. Hunt completed 13-of-15 first-half passes before the break for 200 yards and two touchdowns. And when the play broke down, he used his feet to extend opportunities.Hunt ran three times for 22 yards, but more often gave his receivers a chance to get open — like when he found Ashton Broyld on the right sideline for a 6-yard gain on his last drive of the first half.“Terrel did some things with his feet that helped some drives,” Lester said. “That’s the thing that makes him special.”By the time Hunt launched the 41-yarder to Clark with 2:20 left before the break, more than one competition was already decided.Hunt had won the starting job.He came back out for the second half and polished off two more scoring drives with what Lester called the best throw of his day — a 65-yard deep post that spiraled past close coverage and into the outstretched hands of West.“When Terrel stepped in we made more plays,” West said.Next week, Hunt won’t have to wait. The script has flipped in the Syracuse quarterback battle, and with Hunt under center the Syracuse offense is finally functioning as planned.“I think Terrel will be ready to start this thing off.” Shafer said of SU’s matchup with Tulane next Saturday. “I’d be surprised if I feel differently.” Comments Facebook Twitter Google+last_img read more

Clemson’s defensive line, among the best in the country, now comes for Syracuse

first_imgClemson’s starting defensive lineman, on average, are 6-feet, 4.5-inches tall and 291.25 pounds. That is 2 inches taller and 12 pounds heavier than the average Syracuse starting D-line. That’s also not to mention that the Tigers’ front has produced 12 more sacks than SU’s in the same number of games.“I think most people considered it to be the best defensive line in the country,” said ESPN college football writer David Hale.The defending national champion and No. 2 Tigers’ (6-0, 4-0 Atlantic Coast) defensive line is led by sophomore Dexter Lawrence and junior Christian Wilkins, first- and second-team AP preseason All-Americans, respectively. The two ends, redshirt sophomore Clelin Ferrell and junior Austin Bryant, bring relentless pressure from the edges. Against Syracuse (3-3, 1-1) Friday night in the Carrier Dome, the D-line that dominated the likes of Auburn, Virginia Tech and Louisville will be gunning for quarterback Eric Dungey as it tries to mow through SU’s struggling offensive line.When the two teams met last season, Clemson shut out Syracuse, 54-0, and ended Dungey’s season in the first quarter. The Tigers had only two sacks for 12 yards on the day, mostly because Syracuse could never get the offense going, finishing with more punt yardage (308) than total offensive yards (277).AdvertisementThis is placeholder textAndy Mendes | Digital Design EditorComing into this season, the Orange would love to reverse those numbers. But Ferrell and Clemson knows how dominant they can be.“We didn’t know how good we were going to be,” Ferrell said, “but we knew how good we could be.”Bryant is “country strong,” Ferrell said, and Wilkins uses excellent technique, both with hands and getting leverage by playing with a low pad level, to complement his strength and power. Lawrence, Ferrell said, “just wants to whoop you and beat up on you on the field.”Coming out of high school, all four starters were ranked four stars or higher by ESPN. But beyond star and composite rankings, the top-tier athleticism from all four starters that impressed Hale.“It’s just hard to find guys that are 260, 280, 300 that move the way that they can,” Hale said. “There’s not many out there, and Clemson’s got four of them.”On Sept. 30 against Virginia Tech, the Hokies lined up a receiver outside the hashes. The 6-foot-5, 265 pound Bryant split out wide in coverage. When VT snapped the ball and ran a screen to the wideout, Bryant flew in and blew up the play for a loss.On top of two All-Americans and Ferrell, the emergence of Bryant as a top pass rusher has further bolstered the already deep group. Coming into the season, Bryant appeared to be the lone weak spot on the line, Hale said. Through six games, he leads the team with five sacks.“One of the funniest things is, I think,” Hale said, “their best lineman, or most productive one so far has been Austin Bryant, and he was sort of looked at as ‘the other guy’ on the line.”Andy Mendes | Digital Design EditorFerrell, Bryant, Lawrence and redshirt freshman Nyles Pinckney live together, and in the offseason, the D-line will make occasional trips to places like Atlanta. They’ll often go see a movie as a group or play pickup basketball at CU’s recreation center. Ferrell described it as a “brotherhood.”Plus, they have Madden, a video game, to vent any frustration. A favorite activity, in season or out, Madden often brings out otherwise-dormant trash talk.“That’s really where we kill each other with that,” Ferrell said. “Madden, yeah, let ’em know, ‘You trash.’”Ferrell likes to play with the Arizona Cardinals (“that secondary is crazy, man.”) but Wilkins doesn’t care who he plays with.“It doesn’t matter who I am,” Wilkins said. “I’ll beat anybody.”Two men on the sideline, defensive coordinator Brent Venables and defensive line coach Todd Bates, orchestrate the quarterback onslaught. Venables, an intense, energetic character, is arguably the best defensive coordinator in college football, Hale said. Venables style has been translated to his players.Bates is a newcomer to the Tigers, after co-defensive line coaches Marion Hobby and Dan Brooks departed in the offseason. CU head coach Dabo Swinney had always wanted Bates on his staff, Hale said, and now Bates is filling into his new role. All told, the defensive line including rotation players have generated 14.5 of Clemson’s 22 sacks.With a yet-unblemished record, and a potential run at defending a national title, the Tigers should hope it stays that way.“(We have) guys who wanna be great,” Wilkins said. “It’s one thing to talk about it, it’s another thing to go out there and do it and be it.” Comments Facebook Twitter Google+ Published on October 12, 2017 at 7:56 pm Contact Andrew: aegraham@syr.edu | @A_E_Grahamlast_img read more