Word: pensionable
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...Pensions: To pay $100 a month to everybody over 65 would cost $12 billion a year, and raise the question "whether our economy can stand that tremendous burden without deterring industry as well as the worker." He wanted a basic Government study of pension plans...
...some bad times with the boys." After a 16-month strike, Wimpfheimer adopted a profit-sharing plan for his 350 employees, all members of the C.I.O. Textile Workers Union. The company, which has had no work stoppage since then, last year paid $180,000 into profit-shares and pension funds, equal to 22% of each man's wages...
Another whose profit-sharing plan increased workers' efficiency was Jewel Tea Co. Started 25 years ago by Jewel's Board Chairman John M. Hancock, onetime adviser to Elder Statesman Bernard Baruch, the Jewel plan provides for joint pension contributions plus profit-shares from management amounting to 15% of net earnings after dividends. To some employees it has paid off an average return of 55% on their original contributions...
Under the T.I.A.A. plan, which is still in use, the University and the faculty member each pay 5 per cent of a salary into the pension fund as a premium...
Prior to joining the T.I.A.A. in 1919, faculty members received their pensions from the Carnegie Foundation, which provided pension funds for major universities in the United States in 1916, however, the Carneige Foundation found it could no longer afford the program...