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While many people own stocks and shares directly, most people's exposure to stock markets come through their pension plans.

In the good old days, employers offered traditional pension plans that paid a set amount monthly or a lump sum.

UC Investments, which oversees the University of California’s pension plan that invested in the Blackstone opportunistic fund, similarly declined to comment.

One of the union goals, in addition to $25 an hour, is a pension plan.

As she was self-employed, she hadn't started a pension plan "because I didn't think there was any need to".