Word: pensionable
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There was one small sign of industrial amity. In Detroit, the United Automobile Workers made peace with Ford on the basis of a 7?-an-hour pay increase and a new pension plan-the first in any major auto contract (see BUSINESS). The plan gave some promise of removing insecurity, which in the end underlies all labor strife. Labor leaders and management both hailed it. But it did not affect the main issue. Across the nation, labor's fight on the Taft-Hartley Act would go on until every sentence had been challenged and bitterly tested...
...auto workers, the plan was as revolutionary as Henry Ford's $5-a-day wage in 1914. This time it was Henry Ford II who pioneered in industrial statesmanship. He agreed to U.A.W. demands for a pension plan covering the Ford Motor Co.'s 107,000 workers in the Rouge and 32 other plants. The union estimates that some 5,000 workers are eligible for retirement at once...
...reaching a retirement age yet to be determined (probably 65), will receive an annual income for life equal to 1% of his average pay multiplied by his years of service. Thus, at current rates, a typical worker could retire after 30 years on a $77-a-month Ford pension. If a worker dies before retirement age, his family will receive all he paid in, plus interest. Workers will contribute 2½% a year to the pension fund on earnings up to $3,000; over $3,000, payments will be 5%. The company's contribution will be approximately...
Little, red-haired Emily retired in 1934. On Denver's standard $50-a-month teacher's pension-all that Emily would accept -she settled down in a pine-slab mountain cabin at Pinecliffe, 35 miles northwest of town, with her invalid sister, Florence...
...Maggie discouraged strangers from coming up the mountain. They came down only to vote the straight Republican ticket, to pick up supplies and to get their old-age pension checks. The checks were one modern convenience to which Gil had no objection. With them, he and Maggie got along fine until the winter of 1946. Then they fell sick, almost froze to death, and were taken by a rescue party to a hospital at Suffern. When they got well, they were sent to the Rockland County poor farm...