Word: pensionable
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...Minneapolis, the discovery of a 10,000-vote tabulation error put snaggle-toothed William J. Gallagher, 69, a retired street sweeper, and Henry George, single-taxer, into the House. By sweeping out Richard Pillsbury Gale, 44, a sense-making Republican internationalist, Gallagher will trade a $25.48 a month city pension for a $10,000-a-year...
...with the decline in civilian enthusiasm, veterans began to band together. For the first time in U.S. history "the soldier vote began to cast a long shadow athwart American politics." The Grand Army of the Republic became a major political force. Pension claims began to pour in-at first for war wounds and illness, later for postwar failure in health, finally for war service regardless of need. Claim agents combed the country. One statesman remarked that the G.A.R., having saved the country, now wanted...
Presidential vetoes only slowed the tide. When the Pension Bill of 1890 was passed, President Harrison urged the Commissioner of Pensions to be "liberal with the boys." The Commissioner, an ex-corporal, promised to "drive a six-mule team through the Treasury." Within a year the annual pension outlay had jumped...
...addition to the obvious tax advantages, the pension plans provided another answer to a pressing corporation problem: how can corporations keep top talent from straying? The practice of granting stock options as a form of incentive pay (TIME, June 5) had been one answer. Pension plans are a far more popular...
...there is one hitch. Many a corporation now hastily setting up such a plan may find it disastrously expensive in the long run. The well-heeled "war babies" can now pay the whole pension cost very cheaply. But when earnings and taxes drop, such corporations may find their pension plans far too expensive to continue-and very difficult to drop...