Word: pensionable
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University employees yesterday got a chance to criticize proposed improvements in their present pension plan...
Harvard has had a pension plan since 1936. Employees have contributed four percent of their wages, with the University paying the balance of the amount necessary to finance the plan...
Chrysler had lost production of 347,000 automobiles and trucks during the nine weeks. And still the negotiators bargained in the Federal Conciliator's salmon-pink Sheraton Hotel room. The union's demands: an increase of 10? an hour to provide "adequate" monthly pensions and insurance benefits. Two weeks ago management offered a $30 million pension fund to pay $100 a month (including social security) on retirement at 65 or over. It insisted its plan promised more than United Auto Workers' President Walter Reuther had asked for. Reuther spurned the company's offer as "fancy bookkeeping...
Even a few prices (e.g., tires, cutting tools, men's suits, grains) had begun a hesitant rise-partly because of increased demand, partly because of recent wage and pension boosts. But both business and labor had to think twice about any precipitous price boosts; they had the example of the coal industry before them. After the wage increases last month, some high-cost mines closed, and 3,000 miners were laid off in Pennsylvania alone. But nationally, a brisk upswing in jobs more than made up for such local soft spots; in March, the Census Bureau reported, employment jumped...
...York City's $1.5 billion Consolidated Edison Co. serves 2.6 million customers, more than any other private gas & electric company in the world. Last week big "Con Ed" decided to improve its 53-year-old pension system, announced a plan which union & management say is one of the best in the country. Beginning April 1, all 30,000 Consolidated Edison workers who reach the compulsory retirement age of 65 and have 30 years of service will get a pension of at least $125 a month (including Social Security benefits), and a majority of employees will get more. The company...