Word: pensionable
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Three years ago when the Social Security Act was still just an eleemosynary gleam in Franklin Roosevelt's eye, Congress, which got its early training in industrial legislation working on the railroads, passed a pension law for the 1,500,000 railroad employes of the U. S. In May 1935 the Supreme Court threw out that first Railway Pension Act along with NRA. Before the summer was out Congress tried again. The District of Columbia Supreme Court found the second law unconstitutional. So although the Social Security Act has been debated, passed and in force for a year, there...
...Association of American Railroads and the 21 standard brotherhoods and rail unions finally agreed on a way to take care of superannuated employes. Most important feature of this agreement between management and labor was that the railroads promised to drop their lawsuits so that when the third railroad pension law goes through Congress it will stick on the statute books. The roads were willing to do so because the new plan provides that 1) some $50,000,000 of taxes which are due under the second law will never be collected; 2) the taxes proposed under the new plan will...
...roads had something to be thankful for so did railroad workers. Compared to ordinary wage earners who will be pensioned under the Social Security Act, railroad labor would be considerably better off. Under the Social Security Act employers and employes are each taxed 1% on every salary up to $3,000 a year (a maximum of $30 a year) and the tax will increase gradually until each pays 3% in 1948. Under the railroad pension plan each would pay 2½% on every salary up to $300 a month (a maximum of $90 a year) and the tax will step...
...Representatives were not certain that Recovery had drawn the political sting of Dr. Francis E. Townsend and his old-age pension plan until last election day. On Nov. 5, 48 hr. after the votes were in, the U. S. District Attorney in Washington announced that he would move at once to prosecute Dr. Townsend for walking out on a House investigating committee last spring (TIME, June 1, Dec. 14). Last week in Washington's Federal District Court the lanky old pensioneer went to trial. A onetime aide testified that Dr. Townsend and his O.A.R.P. directors had planned the walkout...
...With his pension doubled and a grant of an annual ton of wine, Chaucer ended his life in comfort. Ten months before his death he leased, in a sanguine mood, for fifty-three years a house in the garden of St. Mary's Chapel at Westminster. Surrounded by those distinguished men who loved both the poet and man, Chaucer slipped peacefully into eternity at the turn of the century, a round-numbered date that no English student has difficulty in remembering...