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D

i g

e

s t

o j f

O n e .H u n d re d S e le c te d P e n s io n P la n s
U n d e r C o lle c t iv e B a r g a in in g , W in t e r 1 9 5 7 .5 8

IOWA STATE
TEACHERS COLLEGE

AUG 4

1958

LIBRARY

U N ITED STATES D EPA R TM EN T O F L A B O R
Ja m e s P . M itchell, S e cre ta ry
BUREAU OF LABOR STATISTICS
Ew an C lagua, Commissionar




B u lle t in N o . 1 2 3 2




i

I

V
?

1

D ig e s t

of

O n e -H u n d r e d
U n d e r




S e le c te d

C o lle c tiv e

P e n s io n

B a r g a in in g ,

P la n s

W in te r

1 9 5 7 - 5 8

B u lle tin No. 1232
May 1958
UNITED STATES DEPARTMENT OF LABOR
James P. Mitchell, Secretary
BUREAU OF LABOR STATISTICS
Ewan Clague, Commissioner

For sale by the Superintendent of Documents, U. S. Government Printing O ffice, W ashington 25, D. C.

- Price 45 cents




Contents

Preface

Page
Index (by industry) __________________________________________

ix

Explanatory notes

This digest was p rep a red in the B u reau ’ s D ivision of W ages
and Industrial R ela tion sb y W alter W. K olod ru betz, a ssiste d by H arry L .
L evin and H arry E. D avis, under the su p ervision o f Evan Keith R ow e.

iii

1
5

Union id e n tific a tio n _________________________________________

This digest is the fir s t of its kind in the pension field p r e ­
pared by the Bureau and is a com panion to the D igest o f One-H undred
S elected Health and Insurance Plans Under C ollectiv e B argaining, 1954
(B ull. 1180), which is now being r e v is e d . The Bureau plans to re v ise
these d igests at fa irly regu lar in te rv a ls, thus providing u p -to-d a te in ­
form ation and a continuous s e r ie s of studies reflectin g sp e c ific changes
in em ployee ben efit plans over tim e. The plans upon which this digest
is based w ere s e le cte d from the file o f pension plans m aintained by
the Bureau for public and Governm ental use under p ro v isio n s o f the
L abor M anagement Relations A ct o f 1947.

__________________________________________

S elected pension plans under co lle c tiv e
b a r g a in in g _________________________________________________

T hese 100 plans are not p resen ted as m odel or typical plan s.
They w ere se le cte d becau se they co v e re d la rg e num bers of w ork ers
in m a jor in d u stries, or beca u se they illu strated d ifferen t approaches
to pension planning, or b ecau se o f w id esp rea d public in terest in the
plan, as m an ifested in in qu iries r e c e iv e d in the Bureau.




v

Index (alphabetical) _________________________________________

The p rin cip a l features o f 100 selected pension plans under
co lle ctiv e bargaining are d e s crib e d in this bulletin, in a fo rm suitable
for quick r e fe r e n c e . T hese plans w ere studied in late 1957 and ea rly
1958. A s b est the U. S. Departm ent o f L abor fs Bureau of L abor
Statistics could d eterm in e, from an exam ination of settlem ents in ­
cluded in its m onthly re p o rt on Current Wage Developm ents and fro m
other secon dary s o u r c e s , all of these plans w ere in effe ct in m id M arch 1958.
The num ber of w o rk e rs co v e re d by each plan ranged
from about a thousand to sev era l hundred thousands In total, slightly
m ore than 3 m illio n w ork ers under co lle c tiv e bargaining w ere c o v ­
ered by the plans in this d igest, or roughly a third of the estim ated
total number of w o rk e rs co v e re d by all pension plans under co lle c tiv e
bargaining „

71




Index

(By Industry)

Manufacturing

Manufacturing — Continued

P age

P age

F ood:
A rm o u r and C o . _______________________________ ____________
M eat C u tte rs
P a ck in g h o u se W o r k e rs (U P W A )
G e n e ra l F o o d s C o r p . ______________ ________________________
V a rio u s u n ion s
C a m p b ell Soup C o . (C a m d en , N . J . ) ____________________
P a ck in g h o u se W o rk e rs (U P W A )
B r e w e rs B o a rd o f T ra d e (N ew Y o rk , N . Y .) ___________
T e a m s te rs
B a k ery and c o n fe c tio n e r y in d u stry , v a r io u s e m p lo y e r s
B a k ery and C o n fe ctio n e ry W o rk e rs

A p p a r e l: - C on tin u ed

6

D re s s in d u s tr y , A ffilia te d D re s s M f r s ., I n c .,
and o th e r e m p lo y e r s (N ew Y o r k , N . Y . ) _______________________
L a d ie s 1 G a rm en t W o rk e rs (N ew Y o rk D r e s s
J oin t B o a rd )
M illin e r y in d u s tr y , E a ste rn W om en *s H ead w ea r A s s o c ia t io n ,
I n c ., and o th e r e m p lo y e r s (N ew Y o r k , N . Y . ) ___________________
H a tte r s , Cap and M illin e r y W o rk e rs
F u r m a n u fa ctu rin g in d u stry , A s s o c ia te d F u r M f r s ., I n c .,
and o th e r e m p lo y e r s (N ew Y o rk , N . Y . ) __________________________
M eat C u tters (F u r r ie r s J oin t C o u n cil o f N ew Y o rk )

6
6
8
8

12

14

14

L u m b e r:
T o b a cco :
A m e rica n T o b a cc o C o ., The
T o b a cc o W o rk e rs

L u m b er in d u s tr y , v a r io u s e m p lo y e r s
(S ou th ern C a lif o r n ia ) ________________________________________________
C a rp e n te rs
W e y e rh a e u se r T im b e r C o . __________________________________________
W o o d w o rk e rs

8

14
14

T e x tile :
B ig e lo w -S a n fo r d C a rp et C o ., In c . ________________________________
T e x tile W o r k e rs (TW U A )
A r m s tr o n g C o rk C o . _________________________________________________
R u b b er W o rk e rs
T e x tile in d u stry , dyein g and p r in tin g , v a r io u s e m p lo y e r s ______
T e x tile W o rk e rs (TW U A )

10

F u rn itu re :

10

F u rn itu re in d u s tr y , v a r io u s e m p lo y e r s ____ ______________________
F u rn itu re W o rk e rs
U p h o lste rin g and a llie d tr a d e s in d u s tr ie s ,
v a r io u s e m p lo y e r s ___________________________________________________
U p h o ls te r e rs

10

A p p a r e l:
C loth in g in d u str y , m e n ^ and b o y s 1, v a r io u s
e m p lo y e r s ____________________________________________________________
C loth in g W o rk e rs
C otton g a rm e n t and a llie d in d u s tr ie s ,
v a r io u s e m p lo y e r s __________________________________________________
C loth in g W o rk e rs
C oat and su it in d u str y , w o m e n 's , In d u stria l C o u n cil o f
C lo a k , Suit and S k irt M f r s ., I n c ., and oth e r e m p lo y e r s
(N ew Y o rk , N . Y . ) __________________________________________________
L a d ie s ' G arm ent W o rk e rs (N ew Y o rk C loa k J oin t B o a rd )




16
16

P a p er:
G a ir , R o b e r t, C o ., In c . (D iv is io n o f C on tin en ta l Can
C o ., I n c . ) _________________________ __ ________________________________
P a p e rm a k e rs and P a p e rw o rk e r s
P u lp , S u lph ite and P a p e r M ill W o rk e rs
In te rn a tio n a l P a p e r C o . ____ _________________________________________
P a p e rm a k e rs and P a p e rw o rk e r s
P u lp , S u lph ite and P a p e r M ill W o rk e rs
W est V irg in ia P u lp and P a p e r C o . ________________________________
P a p e rm a k e rs and P a p e rw o rk e r s
P u lp , S u lph ite and P a p e r M ill W o rk e rs

12

12

12

v

16

16

18

Index
Manufacturing -

(By Industry)

Continued

Continued

Manufacturing — Continued

Page

Page

Printing and P ublish in g:
Printing industry, Em ploying L ith ograph ers
A sso cia tio n o f San F r a n c is c o , and oth6r e m p lo y e r s _________
L ith og ra p h ers, L oca l 17
P ublish ers* A s s o cia tio n of New Y ork C ity _____________________
T y p ogra p h ers, L oca l 6
New Y ork T im es C o ., T h e ______________________ *________ ____ __
N ew spaper Guild

Leather P r o d u c ts : - Continued
L adies handbag and novelty industry, variou s
e m p loyers (New Y ork , N. Y . ) _____ _____________________________
P ock etb ook W o rk e rs, New Y ork , N. Y.
(Leather G ood s, P la stic and N ovelty W ork ers)

18
20
20

G la s s :

22

O w en s-Illin ois G lass C o. __________________________________________
G lass Bottle B low ers
Pittsburgh P late G lass C o. _______________________________________
G lass and C era m ic W ork ers

22

M etalw orking:

22

Alum inum C o. of A m e rica ________________________________________
Alum inum W ork ers
S teelw orker s
R eynolds M etals C o. __________________________________
S teelw ork ers
United States Steel C o rp . _________________________________________
S teelw ork ers
Inland Steel C o. ____________________________________________________
S teelw ork ers
A m e rica n B ra ss C o. , T h e _________*________________ ______ - ______
M ine, M ill and Sm elter W ork ers
A m e rica n Radiator and Standard Sanitary C orp .
(L o u isv ille , K y .) __________________________________________________
Standard A llie d T rades Council
A m e rica n Can C o. _________________________________________
S teelw ork ers
Rheem M anufacturing C o. ____________________________________
S teelw ork ers
National L ock C o. ______________
A utom obile W ork ers
S cov ill M anufacturing C o. ___________
A utom obile W ork ers
C aterp illar T ra cto r C o . ___________________________
A utom obile W ork ers
International H arvester C o. __________________________
A utom obile W ork ers

C h em ica l:
L ever B roth ers C o . _____________________________________________ _
Chem ical W ork ers
O il, C hem ical and A tom ic W ork ers
M onsanto C hem ical C o. _______________________ ___________________
C hem ical W orkers
Union Carbide C orp. _____________________________________________
V arious unions
A m erica n V is c o s e C orp. ________________________________________
T extile W orkers (TWUA)

24

P e tro le u m :
S inclair Oil C o r p .______ ;______________ ___________________________
O il, C hem ical and A tom ic W ork ers
T exas C o. , The __________________________________________________
O il, C hem ical and A tom ic W ork ers

24
26

R u b b er:
F ireston e T ire and Rubber C o. , T h e __________________________
Rubber W ork ers
G ood rich , B . F . , C o ., The ____________________________________
Rubber W ork ers
United States Rubber C o . ________________________________________
Rubber W orkers

26
26
28

Leather P ro d u cts:
M cE 1 vain, J. F . , C o. __________________________________________
New H am psnire Shoe W ork ers Union
New H am pshire Shoe W ork ers Union of M anchester




28

28

vi

28
28

30
30
30
32
32
34
34
34
34
36
36
36

Index

(By Industry)

Continued,
Nonmanufacturing

Manufacturing — Continued

Page

Page
M etalw orking: - Continued
Hughes T ool C o 0 (Oil T ool D iv is io n )_______ ____________________
Independent M etal W ork ers Union, L o ca ls 1 and 2
A dd ressograp h -M u ltigrap h C o rp . ________________________________
M achinists
O ffice E m ployes
Autom otive T ool and Die Mfrs<> A sso cia tio n
(D etroit, M ic h .) _________________________________________________
A utom obile W ork ers
E le ctric A u to -L ite C o. , T h e ____________________________________
A utom obile W ork ers
Radio C orp . o f A m e r i c a _________________________________________
E le ctrica l (IBEW)
E le ctrica l (IUE)
W estinghouse E le c tr ic C orp . ____________________________________
E le ctrica l (IUE)
A m erica n B osch A rm a C orp. (Arm a D ivision) ________________
E le ctrica l (IUE)
F ord M otor C o. __________________________ ________________________
A utom obile W ork ers
General M otors C orp .
_________________________________________
A utom obile W ork ers
Boeing A irplan e C o. ______________________________________________
M achinists
Bendix A viation C orp .
_________________________________________
A utom obile W orkers
Douglas A ir c r a ft C o. , Inc. ______________________________________
A utom obile W ork ers
M achinists
D ravo C orp . ________________
M arine and Shipbuilding W orkers
Pullm an-Standard Car Manufacturing C o. _______________________
S teelw ork ers

M ining:
36

Kennecott Copper C orp . (W estern Mining D iv is io n s )_____________
V ariou s unions
Coal industry (bitum inous), variou s em p loyers __________________
United Mine W ork ers
Pan A m e rica n P etroleu m C orp . __________________________________
V arious unions

38




48
48

38
C onstruction:
38
Construction industry, variou s em p loyers (New Y ork , N. Y . ) ___
C arpenters (New Y ork D istrict C ouncil)
C onstruction industry, National E le ctrica l C on tractors
A s s o c ia tio n , and other e m p lo y e r s _______________________________
E le ctrica l (IBEW)
C onstruction in du stry, New Y ork E le ctrica l C on tractors
A s s o c ia tio n , and other e m p lo y e r s _________________________________
E le c tr ic a l (IBEW ), L oca l 3
P ain ters and D e co ra to rs of the City of New Y ork , Inc.
(A sso cia tio n of M aster) __________________________________________
P a in te rs, D istrict C ouncil 9
C onstruction indu stry, Plum bing C on tractors A sso cia tio n
of C hicago a re a , and other em p loyers (C h icago, 111.) ________
P lu m b e rs, L oca l 130
C onstruction industry, variou s e m p lo y e rs ,
San F r a n c is c o , C a lif ., area _____________________________________
P lu m b e rs, L oca l 38
C onstruction in du stry, Sheet Metal C on tractors A sso cia tio n
of New Y ork C ity, I n c ., and other em p loyers __________________
Sheet M etal W o rk e rs, L ocal 28

40
40
40
42
42
42
44
44
44

50
50
50
50
52
52
52

46
T ra n sporta tion , C om m unication, and Other
P ublic Utilitie~s~
:
Chicago T ransit A uthority _________________________________________
S treet, E le c tr ic Railw ay and M otor Coach E m ployes
Philadelphia T ransportation C o. _________________________________
T ransport W orkers
Trucking industry, lo c a l cartage and o v e r -t h e -r o a d freigh t,
variou s a sso cia tio n s and individual e m p lo y e rs , Central
States, Southeast and Southwest a r e a s ___________________
T ea m sters

Other M anufacturing:
S perry G y roscop e C o. (D ivision o f S perry
Rand C o r p . ) ______________________________________________________
E lectrica l (IUE)
V arious e m p lo y e rs , St0 L ou is, M o ., a r e a _____________________
M ach in ists, D istrict 9

48

46
46

vii

52
54

54

Index

(By Industry)

- Continued
Nonmanufacturing -

Nonmanufacturing — Continued

Continued

P age

P age

T r a n s p o r ta tio n , C o m m u n ica tio n , and O th er
P u b lic U tilitie s : - C on tin u ed

T ruck ing, w areh ou sin g, and other in d u stries,
variou s a sso cia tio n s and e m p lo y e rs , W estern States ________
T ea m sters (W estern C onference)
M aritirpe industry, va riou s e m p lo y e r s , A tlantic and
Gulf C oasts ________________________________________________________
M a ste rs, M ates and P ilots
M aritim e industry, variou s e m p lo y e rs , A tlantic and
Gulf C o a s t s ______________ ______ ____ _____________________ ________
M aritim e Union
New Y ork Shipping A s s o c ia tio n , In c. ___________________________
International L o n g sh o re m e n ^ A ss o cia tio n
P a c ific M aritim e A s s o c i a t i o n ____________________
L on g sh ore m e n ’s and W a reh ou sem en ’s Union
G eneral Telephone C o. of C a l i f o r n i a ___________________________
Com m unications W ork ers o f A m e r ic a
Southern B ell Telephone and T elegraph C o . ____________ ______ 60
C om m unications W ork ers o f A m e r ic a
W estern Union T elegraph C o ., T h e ____________________________
C om m ercia l T eleg ra p h ers
Alabam a P ow er C o . _______________________________________________
E le ctrica l (IBEW)
D etroit Edison C o. , The _________________________ _______________
Utility W ork ers
P a c ific Gas and E le ctric C o . ____________________________________
E le ctrica l (IBEW)

R e ta il and W h o le sa le T r a d e : - C on tin u ed
F o o d in d u stry (r e t a il), F o o d E m p lo y e rs C o u n cil, I n c .,
and oth er e m p lo y e r s , S ou th ern C a lifo r n ia a r e a ________________
R e ta il C le rk s
D ru g in d u stry (r e t a il), v a r io u s a s s o c ia tio n s and e m p lo y e r s
(N ew Y o r k , N . Y . ) __________________________________________________
R e ta il, W h o le sa le and D ep a rtm en t S to re U n ion ,
L o c a l 1199
R e ta il, w h o le s a le an d w a re h o u se in d u s tr ie s , v a r io u s
e m p lo y e r s (N ew Y o rk , N . Y . ) ___________________________________
R e ta il, W h o le sa le and D ep a rtm en t S to re U n ion ,
D is t r ic t 65 (65 S e c u rity P la n )
M ilk D e a le r s , v a r io u s e m p lo y e r s , C h ic a g o , 111. , a r e a _________
T e a m s te r s , L o c a l 753

56
56
56
56
58




64

64

66

58
In su ra n ce and R e a l E sta te :
John H a n cock M utual L ife In su ra n ce C o . ________________________
In su ra n ce W o r k e rs o f A m e r ic a
P ru d e n tia l In su ra n ce C o . o f A m e r ic a , T h e _____________________
In su ra n ce A g en ts In te rn a tio n a l U n ion
B ro n x R e a lty A d v is o r y B o a rd , I n c ., and o th e r
e m p lo y e r s (N ew Y o r k , N . Y . ) ____________________________________
B u ild in g S e r v ic e E m p lo y e e s , L o c a l 32E

60
62
62

66
66
68

62
S e r v ic e s :
H otel A s s o c ia t io n o f N ew Y o rk C ity , I n c . ______________________ 68
N ew Y o rk H otel T r a d e s C o u n cil

R e ta il and W h o le sa le T r a d e :
R esta u ra n t in d u s tr y , P r o g r e s s iv e R esta u ra n t
O w n ers A s s o c ia t io n , I n c ., and oth er e m p lo y e r s
(N ew Y o rk , N . Y . ) _________________________________________________
H otel and R esta u ra n t E m p lo y e e s , L o c a l 89

64

O th er N on m a n u fa ctu rin g :
62

V a rio u s e m p lo y e r s , S t. L o u is , M o ., a r e a _____________________
T e a m s te r s , L o c a l 688

viii

68

Index

(Alphabetical)

Page
A d d r e s s o g r a p h -M u lt i g r a p h C o r p . _____ , ______1
_
___________________________
M a c h in is t s
O f fic e E m p lo y e s
A la b a m a P o w e r C o . ___________________________________________________________
E l e c t r i c a l (IB E W )
A lu m in u m C o . o f A m e r i c a __________________________________________________
A lu m in u m W o r k e r s
S t e e lw o r k e r s
A m e r i c a n B o s c h A r m a C o r p . ( A r m a D i v i s i o n ) _______________________
E l e c t r i c a l (lU E )
A m e r i c a n B r a s s C o . , T h e __________________________________________________
M in e , M i ll an d S m e lt e r W o r k e r s
A m e r i c a n C a n C o . _____________
S t e e lw o r k e r s
A m e r i c a n R a d ia t o r an d S ta n d a rd S a n it a r y C o r p .
( L o u i s v i l l e , K y . ) ------------------------------------------------------------------------------------------S ta n d a rd A l l i e d T r a d e s C o u n c il
A m e r i c a n T o b a c c o C o . , T h e _________________________*______________________
T obacco W ork ers
A m e r i c a n V i s c o s e C o r p . ____________________________________________________
T e x t ile W o r k e r s (T W U A )
A r m o u r and C o .
__________________________________ *____________________________
M eat C u tte rs
P a c k in g h o u s e W o r k e r s (U P W A )
A r m s t r o n g C o r k C o . ___________________________________________________________
R ubber W o rk e rs
A u to m o tiv e T o o l and D ie M f r s . A s s o c i a t i o n
( D e t r o it , M i c h .) _______________ *
_____________________________________________
A u to m o b ile W o r k e r s
B a k e r y and c o n f e c t io n e r y in d u s tr y , v a r io u s e m p lo y e r s __________
B a k e r y and C o n fe c t i o n e r y W o r k e r s
B e n d ix A v ia t io n C o r p . _______________________________________________________
A u to m o b ile W o r k e r s
B ig e lo w -S a n f o r d C a r p e t C o . , In c . _______________________________________
T e x t ile W o r k e r s ( T W U A )
B o e in g A ir p la n e C o . _________________________________________________________
M a c h in is ts
B r e w e r s B o a r d o f T r a d e (N e w Y o r k , N . Y . ) _________________________
T e a m ste r s
B r o n x R e a lt y A d v i s o r y B o a r d , In c . , and o th e r
e m p lo y e r s (N e w Y o r k , N . Y . ) __________________________________________
B u ild in g S e r v i c e E m p l o y e e s , L o c a l 32E
C a m p b e ll Soup C o . (C a m d e n , N . J . ) ------------------------------------------------------P a c k in g h o u s e W o r k e r s (U P W A )
C a t e r p i l la r T r a c t o r C o . ____________________________________________________
A u to m o b ile W o r k e r s




Page

38

C h ic a g o T r a n s i t A u t h o r it y ___________________________________________________
S t r e e t , E l e c t r i c R a ilw a y and M o t o r C o a c h E m p lo y e s
C lo t h in g in d u s t r y , m e n * s and b o y s 1, v a r io u s e m p l o y e r s _____________
C lo t h in g W o r k e r s
C o a l in d u s tr y (b itu m in o u s ), v a r io u s e m p lo y e r s
______________________
U n ited M in e W o r k e r s
C o a t and s u it in d u s t r y , w o m e n ! s , I n d u s t r ia l C o u n c il o f
C lo a k , S u it and S k i r t M f r s . , I n c . , and o th e r
e m p lo y e r s (N e w Y o r k , N . Y . ) ____________________________________________
L a d i e s 1 G a r m e n t W o r k e r s (N e w Y o r k C l o a k J o in t B o a r d )
C o n s t r u c t io n in d u s t r y , N a tio n a l E l e c t r i c a l C o n t r a c t o r s
A s s o c i a t i o n , and o th e r e m p lo y e r s
______________________________________
E l e c t r i c a l (IB E W )
C o n s t r u c t io n in d u s t r y , N e w Y o r k E l e c t r i c a l C o n t r a c t o r s
A s s o c i a t i o n , and o t h e r e m p l o y e r s _______________________________________ ^
E le c t r ic a l (IB E W ), L o c a l 3
C o n s t r u c t io n in d u s t r y , P lu m b in g C o n t r a c t o r s A s s o c i a t i o n
o f C h ic a g o a r e a , and o th e r e m p lo y e r s ( C h ic a g o , 1 1 )
1 . ____________
P l u m b e r s , L o c a l 130
C o n s t r u c t io n in d u s t r y , S h e e t M e t a l C o n t r a c t o r s A s s o c i a t i o n
o f N e w Y o r k C i t y , I n c . , and o th e r e m p lo y e r s _______________________
S h e e t M e t a l W o r k e r s , L o c a l 28
C o n s t r u c t io n in d u s t r y , v a r io u s e m p lo y e r s (N e w Y o r k , N . Y . ) ----C a r p e n t e r s (N e w Y o r k D i s t r i c t C o u n c il)
C o n s t r u c t io n in d u s t r y , v a r io u s e m p l o y e r s ,
San F r a n c i s c o , C a l i f . , a r e a ______________________________________________
P l u m b e r s , L o c a l 38
C o tto n g a r m e n t and a llie d i n d u s t r i e s , v a r io u s e m p l o y e r s ___________
C lo t h in g W o r k e r s
D e t r o it E d is o n C o . , T h e ______________________________________________________
U t ilit y W o r k e r s
D o u g la s A i r c r a f t C o . , I n c . ___________________________________________________
A u t o m o b ile W o r k e r s
M a c h in i s t s
D r a v o C o r p . __________________________________________________________________ ___
M a r in e and S h ip b u ild in g W o r k e r s
D r e s s in d u s t r y , A f f i l i a t e d D r e s s M f r s . , In c . , and
o th e r e m p lo y e r s (N e w Y o r k , N . Y . ) ____________________________________
L a d ie s * G a r m e n t W o r k e r s (N e w Y o r k D r e s s Jo in t B o a r d )
D r u g in d u s tr y ( r e t a i l ) , v a r io u s a s s o c i a t i o n s and
e m p lo y e r s (N e w Y o r k , N . Y . ) ______________________________________________
R e t a i l , W h o l e s a l e and D e p a r tm e n t S to r e U n io n , L o c a l 1199
E l e c t r i c A u t o - L i t e C o . , T h e _________________________________________________
A u t o m o b ile W o r k e r s
F i r e s t o n e T i r e an d R u b b e r C o . , T h e _____________________________________
R ubber W o rk e rs

62
30
40
32
34
34
8
24
6
10
38
8
44
10
42
8
68
6
36

ix

52
12
48

12
50
50
52
52
50
52
12
62
44
44
12
64
38
26

- Continued

Index
P age
F o o d in d u s t r y ( r e t a i l ) , F o o d E m p lo y e r s C o u n c il , In c . ,
an d o th e r e m p l o y e r s , S o u th e r n C a li f o r n i a a r e a ______________________
R e t a il C l e r k s
F o r d M o t o r C o . _________________________________________________________________
A u t o m o b ile W o r k e r s
F u r m a n u fa c tu r in g in d u s t r y , A s s o c i a t e d F u r M f r s . , In c . ,
a n d o t h e r e m p lo y e r s (N e w Y o r k , N . Y . ) ----------------------------------------------M e a t C u t t e r s ( F u r r i e r s J o in t C o u n c il o f N e w Y o r k )
F u r n it u r e in d u s t r y , v a r io u s e m p lo y e r s ____________________________________
F u r n itu r e W o r k e r s
G a i r , R o b e r t , C o . , In c . ( D iv i s io n o f C o n tin e n ta l C a n
C o . , I n c . ) _______________________________________________________________________
P a p e r m a k e r s an d P a p e r w o r k e r s
P u lp , S u lp h ite an d P a p e r M i l l W o r k e r s
G e n e r a l F o o d s C o r p . __________________________________________________________
V a r io u s u n ion s
G e n e r a l M o t o r s C o r p . _________________________________________________________
A u t o m o b ile W o r k e r s
G e n e r a l T e le p h o n e C o .
o f C a l i f o r n i a _____________________________________
C o m m u n ic a t io n s W o r k e r s o f A m e r i c a
G o o d r ic h , B . F . , C o . , T h e _________________________________________________
R ubber W o rk e rs
H o te l A s s o c i a t i o n o f N e w Y o r k C i t y , I n c . _______________________________
N e w Y o r k H o te l T r a d e s C o u n c il
H u g h es T o o l C o . ( O il T o o l D iv is io n ) ______________________________________
In d e p en d e n t M etal* W o r k e r s U n io n , L o c a l s 1 and 2
In lan d S t e e l C o . _________________________________________________________________
S te e lw o r k e r s
I n te r n a tio n a l H a r v e s t e r C o . _________________________________________________
A u t o m o b ile W o r k e r s
I n te r n a tio n a l P a p e r C o . _______________________________________________________
P a p e r m a k e r s an d P a p e r w o r k e r s
P u lp , S u lp h ite an d P a p e r M i l l W o r k e r s
John H a n c o c k M u tu a l L if e I n s u r a n c e C o . ________________________________
In su ra n ce W o r k e r s of A m e r ic a
K e n n e c o tt C o p p e r C o r p . ( W e s t e r n M in in g D iv is io n s ) _________________
V a r io u s u n ion s
L a d ie s h an d b a g and n o v e lt y i n d u s t r y , v a r io u s e m p lo y e r s
(N e w Y o r k , N . Y . ) ___________________________________________________________
P o c k e tb o o k W o r k e r s , N e w Y o r k , N . Y . ( L e a t h e r G o o d s ,
P l a s t i c and N o v e lt y W o r k e r s )
L e v e r B r o th e r s
C o . __________________________________________________________
C h e m ic a l W o r k e r s
O i l , C h e m i c a l and A t o m ic W o r k e r s
L u m b e r in d u s t r y , v a r io u s e m p lo y e r s (S o u th e r n C a l i f o r n i a ) ________
C a rp en ters




64
42
14
16
16
6
42
58
26
68
36
32
36
16
66
48
28
22
14

P age
M a c h i n i s t s , D i s t r i c t 9, v a r io u s e m p l o y e r s ,
Sto L o u i s , M o . , a r e a _______________________________________________________
M a r i t im e in d u s t r y , v a r io u s e m p l o y e r s , A tla n t ic and
G u lf C o a s t s
___________________________________________________________________
M a r i t i m e U n io n
M a r i t i m e in d u s t r y , v a r io u s e m p l o y e r s , A tla n t ic and
G u lf C o a s t s
_____________
M a s t e r s , M a t e s and P il o t s
M c E lw a in , J . F . , C o . _____________________________________________________
N e w H a m p s h i r e S h oe W o r k e r s U n io n
N e w H a m p s h i r e S h oe W o r k e r s U n io n o f M a n c h e s t e r
M ilk D e a l e r s , v a r io u s e m p l o y e r s , C h i c a g o , 1 1 , a r e a ___________
1.
T e a m s t e r s , L o c a l 753
M i l l i n e r y in d u s t r y , E a s t e r n W o m e n * s H e a d w e a r A s s o c i a t i o n ,
I n c . , and o t h e r e m p lo y e r s (N e w Y o r k , N . Y . ) _____________________
H a t t e r s , C a p and M i l l i n e r y W o r k e r s
M o n s a n t o C h e m i c a l C o . _____________________________________________________
C h e m ic a l W o r k e r s
N a tio n a l L o c k C o . ____________________________________________________________
A u t o m o b ile W o r k e r s
N e w Y o r k S h ip p in g A s s o c i a t i o n , I n c . ____________________________________
In te r n a tio n a l L o n g s h o r e m e n s A s s o c i a t i o n
N e w Y o r k T i m e s C o . , T h e ________________________________________________
N e w s p a p e r G u ild
O w e n s -I l l i n o i s G l a s s C o .
__________________________________________________
G l a s s B o ttle B l o w e r s
P a c i f i c G a s and E l e c t r i c C o .
_____________________________________________
E l e c t r i c a l (IB E W )
P a c i f i c M a r i t im e A s s o c i a t i o n
____________________________________________
L o n g s h o r e m e n rs an d W a r e h o u s e m e n * ^ U n io n
P a in t e r s and D e c o r a t o r s o f the C i t y o f N e w Y o r k , In c .
( A s s o c i a t i o n o f M a s t e r ) ___ ___________________________________________ __i._
P a i n t e r s , D i s t r i c t C o u n c il 9
P a n A m e r i c a n P e t r o le u m C o r p . _____________________________
V a r io u s u n io n s
P h ila d e lp h ia T r a n s p o r t a t io n C o . _________________________________________
T ran sp ort W ork ers
P it t s b u r g h P la t e G l a s s C o . ________________________________________________
G l a s s and C e r a m i c W o r k e r s
P r in t in g i n d u s t r y , E m p lo y in g L it h o g r a p h e r s A s s o c i a t i o n
o f S an F r a n c i s c o , and o th e r e m p lo y e r s
____________________________
L i t h o g r a p h e r s , L o c a l 17
P r u d e n tia l I n s u r a n c e C o . o f A m e r i c a , T h e ___________________________
I n s u r a n c e A g e n t s I n te r n a tio n a l U n io n
P u b l i s h e r s 1 A s s o c i a t i o n o f N e w Y o r k C i t y ------------------------------------------T yp ograp h ers, L o ca l 6

46
56
56
28
66
14
22
34
56
20
28
62
58
50
48
54
28
18
66
20

Index

(Alphabetical)

Page
P u llm a n -S t a n d a r d C a r M a n u fa c tu r in g C o .
_______________________________
S t e e lw o r k e r s
R a d io C o r p . o f A m e r i c a ---------------------------------------------------------------------------------E l e c t r i c a l (IB E W )
E l e c t r i c a l (lU E )
R e s ta u r a n t i n d u s t r y , P r o g r e s s i v e R e s t a u r a n t O w n e r s
A s s o c i a t i o n , I n c . , and o th e r e m p lo y e r s (N e w Y o r k , N . Y . ) _____
H o te l and R e s t a u r a n t E m p lo y e e s , L o c a l 89
R e t a i l , w h o le s a le an d w a r e h o u s e i n d u s t r i e s , v a r io u s
e m p lo y e r s (N e w Y o r k , N . Y . ) _______________________________________ _____
R e t a i l , W h o l e s a l e and D e p a r t m e n t S to r e U n io n ,
D i s t r i c t 65 (65 S e c u r it y P la n )
R e y n o ld s M e t a l s C o . ___________________________________________________________
S te e lw o r k e r s
R h e e m M a n u fa c tu r in g C o . ____________________________________________________
S te e lw o r k e r s
S c o v il l M a n u fa c t u r in g C o . ____________________________________________________
A u t o m o b ile W o r k e r s
S in c l a ir O i l C o r p . ______________________________________________________________
O i l , C h e m i c a l and A t o m ic W o r k e r s
S o u th e r n B e l l T e le p h o n e an d T e le g r a p h C o . ____________________________
C o m m u n ic a t io n s W o r k e r s o f A m e r i c a
S p e r r y G y r o s c o p e C o . ( D iv i s io n of S p e r r y R a n d C o r p .) _____________
E l e c t r i c a l (lU E )
T e a m s t e r s , L o c a l 688, v a r io u s e m p l o y e r s ,
S t. L o u i s , M o . , a r e a _______________________________________________________
T e x a s C o . , T h e _________________________________________________________________
O i l , C h e m i c a l and A t o m ic W o r k e r s




46
40

62
64
30
34
36
24
60
46
68
26

- Continued
P age

T e x t i l e in d u s t r y , d y e in g an d p r in t in g , v a r io u s
e m p lo y e r s ______________________________________________________________________
T e x t i l e W o r k e r s (T W U A )
T r u c k in g in d u s t r y , l o c a l c a r t a g e and o v e r - t h e - r o a d
f r e i g h t , v a r io u s a s s o c i a t i o n s and in d iv id u a l e m p l o y e r s ,
C e n t r a l S t a t e s , S o u t h e a s t, and S o u th w e s t a r e a s ____________________
T e a m ste rs
T r u c k in g , w a r e h o u s in g , and o th e r in d u s t r i e s , v a r io u s
a s s o c i a t i o n s and e m p l o y e r s , W e s t e r n S ta t e s ________________________
T e a m s t e r s ( W e s t e r n C o n fe r e n c e )
_________________________________________________________
U n io n C a r b id e C o r p .
V a r io u s u n io n s
U n ite d S ta t e s R u b b e r C o . ____________________________________________________
R ubber W o rk e rs
U n ite d S ta t e s S t e e l C o r p . ____________________________________________________
S te e lw o r k e r s
U p h o ls t e r in g and a l l i e d t r a d e s i n d u s t r i e s , v a r io u s
U p h o ls te r e r s
W e s t V ir g in ia P u lp and P a p e r C o . _________________________________________
P a p e r m a k e r s an d P a p e r w o r k e r s
P u lp , S u lp h ite and P a p e r M i l l W o r k e r s
W e s t e r n U n io n T e le g r a p h C o . , T h e ______________________________________
C o m m e r c i a l T e le g r a p h e r s
W e s t in g h o u s e E l e c t r i c C o r p . ________________________________________________
E l e c t r i c a l (lU E )
W e y e r h a e u s e r T i m b e r C o . __________________________________________________
W ood w orkers

10

54
56
22
28
30

18
60
40
14




Digest of One-Hundred Selected Pension Plans Under Collective Bargaining, W inter 1957-58
Explanatory Notes

M a n y t e r m s and c o n c e p t s u s e d in th is b u lle t in m a y b e i n t e r ­
p r e t e d in d iff e r e n t w a y s .
F o r th is r e a s o n , s o m e s p e c ia l d e fin it io n s
an d q u a lific a t io n s a r e s e t fo r t h b e l o w . E x c e p t f o r a fe w w h ic h h a v e
g e n e r a l a p p lic a t io n , th e t e r m s an d c o n c e p t s a r e g r o u p e d a c c o r d in g to
th e s e c t io n in w h ic h th e y f i r s t a p p e a r . It m u s t b e e m p h a s iz e d th a t a
s u m m a r y o f a p e n s io n p la n n e c e s s a r i l y o m it s m a n y o f th e fe a t u r e s
an d a d m in i s t r a t iv e d e t a ils c o n ta in e d in th e a g r e e m e n t s , c o n t r a c t s , and
r e g u la tio n s w h ic h c o n tr o l the a c tu a l o p e r a tio n o f th e p la n .
P la n s

U nder

C o ll e c t i v e

B a r g a in in g

F o r p u r p o s e s o f th is s tu d y , p la n s u n d er c o ll e c t i v e b a r g a in in g
in c lu d e ( l ) th o s e e s t a b li s h e d fo r th e f i r s t t im e a s a r e s u l t o f c o l l e c ­
tiv e b a r g a in in g a n d ( 2) th o s e o r ig i n a l l y e s t a b li s h e d b y e ith e r th e e m ­
p lo y e r o r th e u n io n , bu t s in c e b r o u g h t w ith in the s c o p e o f the a g r e e ­
m e n t , at l e a s t to the e x te n t th at th e a g r e e m e n t e s t a b li s h e s e m p lo y e r
r e s p o n s i b i l i t y to c o n tin u e o r p r o v id e c e r t a in b e n e f i t s .
A lth o u g h t h e s e p la n s a r e u n d er c o ll e c t i v e b a r g a in in g , a s d e ­
fin e d a b o v e , th e y a r e n ot n e c e s s a r i l y l i m i t e d in a p p lic a t io n to w o r k e r s
c o v e r e d b y c o ll e c t i v e b a r g a in in g a g r e e m e n t s in e a c h c o m p a n y . M o r e ­
o v e r , in c o m p a n ie s w h e r e m o r e th an one u n io n r e p r e s e n t s w o r k e r s
u n d er th e s a m e p la n , the u n ion or u n io n s id e n tifie d in th e p la n d ig e s t
a c c o u n t fo r a l a r g e p r o p o r t io n , bu t not n e c e s s a r i l y a ll o r a m a j o r i t y
o f th e w o r k e r s u n d er c o ll e c t iv e b a r g a in in g a g r e e m e n t s .
Sym bol
-----

D iffe r e n c e s

W h en u s e d in th e d i g e s t , th is s y m b o l m e a n s th a t the
c o lu m n i s e ith e r n ot a p p lic a b le o r th a t th e p r o v is io n i s
n ot in c lu d e d u n d er the p r o g r a m .
by Sex

U n l e s s o t h e r w is e s p e c i f i e d ,
f o r m l y to m e n an d w o m e n .

th e p la n

R e d u c tio n o f P la n B e n e f it s b y O th e r

P a y m en ts

p r o v is io n s

a p p ly

u n i­

A n u m b e r o f p la n s in th is r e p o r t in c lu d e p r o v i s i o n s f o r r e ­
d u cin g the p r iv a t e p la n b e n e fit b y a l l o r a p a r t o f in c o m e f r o m o th e r
s o u r c e s . A m o n g t h e s e a r e O l d - A g e , S u r v i v o r s * , an d D i s a b i l i t y I n s u r ­
a n c e b e n e fit s ( s o c i a l s e c u r i t y b e n e f i t s ) ; w o r k m e n 's c o m p e n s a t io n p a y ­
m e n t s ; u n e m p lo y m e n t in s u r a n c e p a y m e n t s ; b e n e fit s f r o m o th e r p u b lic
p r o g r a m s ( s ta t u to r y p a y m e n t s ); p a y m e n t s u n d e r o th e r p la n s fin a n c e d
in w h o le o r in p a r t b y th e e m p lo y e r ; s e v e r a n c e p a y m e n t s , e t c .
For
p u r p o s e s o f th is d i g e s t , the o n ly d e d u c tio n s a c c o u n te d fo r a r e p r i m a r y
s o c i a l s e c u r i t y b e n e fit s and s o c i a l s e c u r i t y d is a b i lit y b e n e f i t s , w h e r e
t h e s e d e d u c tio n s a r e s tip u la t e d in th e p la n .




U n d e r c u r r e n t p r o v i s i o n s o f th e S o c i a l S e c u r it y A c t , p r i m a r y
s o c i a l s e c u r i t y b e n e fit s a r e p a y a b le to q u a lifie d w o r k e r s a t a g e 65.
W o m e n m a y e l e c t to r e c e i v e a p e r m a n e n t ly r e d u c e d p r i m a r y s o c ia l
s e c u r i t y b e n e fit to b e g in at a g e 62 o r l a t e r .
S in c e J u ly 1, 1957,
q u a lifie d w o r k e r s a r e e n title d to a s o c i a l s e c u r i t y d is a b i lit y b e n e fit
f r o m a g e 50 to 65, i f th e y b e c o m e d is a b le d a s d e fin e d in th e S o c ia l
S e c u r it y A c t .
W h en the w o r k e r r e c e iv in g a s o c i a l s e c u r i t y d is a b i lit y
b e n e fit a tta in s a g e 65, the d is a b i lit y b e n e fit r e v e r t s to a p r i m a r y
s o c ia l s e c u r i t y b e n e f i t .
In s u m m a r iz in g p la n s fo r th is r e p o r t , it w a s a s s u m e d th a t a
w o r k e r r e t i r in g u n d er the n o r m a l r e t i r e m e n t , e a r ly r e t i r e m e n t , and
v e s t i n g p r o v is io n s o f a p la n w o u ld n ot b e r e c e iv in g a s o c i a l s e c u r i t y
d is a b i lit y b e n e f i t .
P r o v i s i o n fo r d e d u c tio n o f s o c i a l s e c u r i t y d i s ­
a b ilit y b e n e fit is n o te d o n ly in th e d is a b i lit y r e t i r e m e n t b e n e fit f o r m u la
c o lu m n .
T h e p r i m a r y s o c ia l s e c u r i t y b e n e fit is t r e a t e d in the fo llo w in g
m a n n e r : In the a b s e n c e o f a r e f e r e n c e to the p r i m a r y s o c ia l s e c u r i t y
b e n e fit in th e n o r m a l r e t i r e m e n t b e n e fit f o r m u la c o lu m n , th e p la n
b e n e fit in d ic a te d i s in a d d itio n to a n y p r i m a r y s o c i a l s e c u r i t y b e n e fit
th e w o r k e r m a y r e c e i v e ; an e n tr y *'1688 p r i m a r y s o c ia l s e c u r i t y b e n e ­
f i t , " o r a s i m i l a r e n tr y in the n o r m a l r e t i r e m e n t b e n e fit f o r m u la
c o lu m n , in d ic a t e s th a t the p la n b e n e fit i s r e d u c e d b y the a m o u n t o f
su ch p a y m e n t .
T h e t e r m " w h en e l i g i b l e , ** a s u s e d in r e f e r e n c e to p r im a r y
s o c ia l s e c u r i t y b e n e f i t , m e a n s th a t a r e d u c t io n i s m a d e , o r the b e n e fit
is r e c o m p u t e d , e v e n though the w o r k e r d o e s n ot e l e c t to r e c e i v e p a y ­
m e n t s . T h is i s p a r t i c u l a r l y p e r tin e n t in th e c a s e o f a w o m a n r e t ir in g
p r io r to a g e 65, s in c e sh e h a s an o p tio n to e l e c t a p e r m a n e n t ly r e ­
d u c e d p r i m a r y s o c i a l s e c u r i t y b e n e fit a s e a r l y a s a g e 62.
In the p la n s s tu d ie d , th e n o r m a l b e n e fit f o r m u la w a s g e n e r a ll y
u s e d to c o m p u te b e n e fit s u n d e r e a r ly r e t i r e m e n t ( a l s o d is a b i lit y r e ­
t i r e m e n t an d v e s t i n g in s o m e c a s e s ) , b a s e d on s e r v i c e a n d /o r e a r n in g s
to d a te o f r e t i r e m e n t . I f th e n o r m a l b e n e fit f o r m u la in c lu d e s a p r o ­
v i s i o n fo r d e d u c tio n o f p r i m a r y s o c i a l s e c u r i t y b e n e f i t , the e a r ly r e ­
t ir e m e n t b e n e f it , u n l e s s o t h e r w is e in d ic a t e d , w ill b e r e d u c e d by an
e s t im a t e d p r i m a r y s o c i a l s e c u r i t y b e n e fit (e v e n th o u gh the w o r k e r is
n ot y e t e li g ib l e to r e c e i v e su c h b e n e f i t ) .
S u p p le m e n ta l and O p tio n a l

C o n tr ib u to r y

P la n s

S u p p le m e n ta l C o n tr ib u to r y P l a n . — R e f e r s to a p la n th a t is
o f f e r e d to th e ~ w o r k e r on an o p tio n a l b a s i s , w ith th e e m p lo y e r and
w o r k e r s h a r in g the c o s t .
T h e b e n e fit s u n d e r su c h a p la n a r e in
a d d itio n to th o s e p r o v id e d u n d e r the b a s i c n o n c o n t r ib u to r y p la n .

2
O p tio n a l C o n tr ib u to r y P l a n . — R e f e r s to a p la n th a t is o f f e r e d
to th e w o r k e r on an o p tio n a l b a s i s , w ith th e e m p lo y e r a n d w o r k e r
s h a r in g the c o s t .
T h is i s o f f e r e d in li e u o f the b a s i c n o n c o n t r ib u to r y
p la n .
Y ears

o f S e r v ic e

T h is t e r m a p p lie s to th a t s e r v i c e c r e d it e d to w a r d q u a li f i c a ­
t io n , o r fo r the p u r p o s e o f c o m p u tin g b e n e fit s u n d er the v a r i o u s p la n
p r o v i s i o n s , h o w e v e r s e r v i c e i s d e fin e d in th e p la n .
It m a y b e d e ­
s c r i b e d in th e p la n a s co n tin u o u s s e r v i c e , p la n m e m b e r s h i p s e r v i c e ,
co v e re d s e r v ic e ,
c r e d it e d s e r v i c e , c o v e r e d e m p lo y m e n t , y e a r s o f
s e r v i c e , c o n s e c u t iv e s e r v i c e , e t c .
E a r n in g s
T h is t e r m r e f e r s to th e w o r k e r ^ c o m p e n s a t io n , h o w e v e r
d e fin e d in the p la n , u s e d in the c o m p u ta tio n o f b e n e fit s u n d er the
v a r io u s p la n p r o v i s i o n s . It in c l u d e s , a m o n g o th e r t e r m s , g r o s s e a r n ­
i n g s , b a s i c e a r n i n g s , w a g e s , p a y , c o m p e n s a t io n , and b a s i c ann ual
w ages.
P a r t ic ip a t io n

R e q u ir e m e n t s

T h is t e r m r e f e r s to the r e q u i r e m e n t s w h ic h th e n e w w o r k e r
m u s t f u l f i l l ; i . e . , p e r io d o f s e r v i c e , m in im u m a g e , e t c . , in o r d e r to
b e c o v e r e d b y th e p la n , o r to b e c o m e e li g ib l e to p a r t ic ip a t e in th e
p la n . In th e a b s e n c e o f su ch r e q u i r e m e n t s , the w o r k e r is e li g ib l e to
j o in th e p la n u pon b e c o m in g e m p lo y e d , o r s h o r t l y t h e r e a f t e r .
E x c lu d e s P r e m e m b e r s h i p S e r v i c e . — T h is p h r a s e m e a n s th a t
th e w o r k e r * s s e r v i c e p r io r to p a r t ic ip a t io n in th e p la n c a n n o t b e
co u n te d fo r the p u r p o s e o f q u a lify in g fo r b e n e fit s a n d /o r in the c o m ­
p u ta tio n o f b e n e f i t s .
In c lu d e s P r e m e m b e r s h i p S e r v i c e . — T h is p h r a s e m e a n s th a t
th e w o r k e r *s s e r v i c e p r i o r to p a r t ic ip a t io n in the p la n ca n b e c o u n te d
f o r the p u r p o s e o f q u a lify in g fo r b e n e fit s a n d / o r in th e c o m p u ta tio n
of b e n e fits .
N orm al

R e t ir e m e n t

S e r v i c e C r e d it e d A f t e r N o r m a l A g e . — E n t r ie s in th is c o lu m n
in d ic a te w h e th e r s e r v i c e p e r f o r m e d a f t e r n o r m a l r e t i r e m e n t a g e m a y
b e co u n te d to w a r d q u a lific a t io n f o r b e n e f i t s , o r c o m p u ta tio n o f b e n e ­
f i t s . A l l m e a n s th a t s u c h s e r v i c e i s c r e d it e d (to the e x te n t n e c e s s a r y )
to w a r d q u a lific a t io n f o r a n d / o r c o m p u ta t io n o f b e n e fit s up to the d ate
o f a c tu a l r e t i r e m e n t .
I ll u s t r a t i v e

M o n th ly P e n s io n s

I ll u s t r a t i v e m o n th ly p e n s io n s w e r e c o m p u te d f o r p u r p o s e s o f
g e n e r a l e v a lu a tio n and c o m p a r i s o n o f p o te n tia l b e n e fit s a m o n g the
s e l e c t e d p la n s .
In g e n e r a l , th e y r e f l e c t the a n t ic ip a t e d b e n e fit p a y ­
m e n t s 25 to 35 y e a r s h e n c e , on th e b a s i s o f p r o v i s i o n s c u r r e n t l y in
e f f e c t . A lth o u g h th e i l l u s t r a t i v e a m o u n ts sh o w n a r e c o m p u te d on the
b a s i s o f fu tu r e s e r v i c e u n d er th e c u r r e n t l y e x is t in g f o r m u l a , u n d e r
m a n y p la n s t h e r e i s no d is t in c t io n b e tw e e n fu tu r e and p a s t s e r v i c e
b e n e fits .
A lth o u g h s o m e p la n b e n e fit f o r m u la s e x c lu d e p r i m a r y s o c i a l
s e c u r i t y b e n e f it s and o t h e r s in c lu d e su c h p a y m e n t s , th e p r iv a t e p la n
b e n e fit an d th e m a x i m u m p r i m a r y s o c ia l s e c u r i t y b e n e fit a r e c o m ­
b in e d in th is stu d y to p r o v id e th e i l l u s t r a t i v e m o n th ly p e n s io n s a t
a g e 65. T h is w a s d one s o th a t a l l p la n s c o u ld b e s e t fo r t h on a c o m ­
p a r a b le b a s i s .
T o p r o v id e th e i l l u s t r a t i v e a m o u n t s , b e n e fit s u n d e r the p r iv a t e
p la n w e r e c o m p u te d on th e b a s i s o f a r b i t r a r i l y s e l e c t e d a v e r a g e ann ual
e a r n in g s l e v e l s ( a s s u m e d to b e c o n s ta n t th r o u g h o u t th e p e r io d o f s e r v ­
i c e ) an d s p e c i f i c p e r io d s o f c r e d it e d fu tu r e s e r v i c e . S e le c t e d f o r th is
p u r p o s e w e r e fu tu r e s e r v i c e p e r io d s o f 25, 30, an d 35 y e a r s , and
a v e r a g e an n u al e a r n in g s l e v e l s o f $ 3, 600, $ 4 , 200, an d $ 5, 000. Y e a r s
o f fu tu r e s e r v i c e do n ot in c lu d e p a r t ic ip a t io n r e q u i r e m e n t s a s p r e v i ­
o u s ly d e fin e d .
M a x im u m p r i m a r y s o c i a l s e c u r i t y b e n e fit s f o r s e l e c t e d a v ­
e r a g e an n u al e a r n in g s l e v e l s ( c u r r e n t l y $ 98.50 f o r a v e r a g e an n u al
e a r n in g s l e v e l o f $ 3, 600, and $ 108.50 fo r $ 4,200 an d $ 5, 000) h a v e
b e e n in c lu d e d to p r o v id e the c o m b in e d l e v e l o f r e t i r e m e n t b e n e f i t s .
W o r k e r s n ot q u a lify in g f o r m a x im u m b e n e fit s w o u ld r e c e i v e a l e s s e r
a m o u n t.
E a r ly

R e t ir e m e n t

U n d e r a n o r m a l r e t i r e m e n t p r o v i s i o n , th e w o r k e r b e c o m e s
e n tit le d to a b e n e f i t , h a v in g o t h e r w is e q u a li fie d , u p on r e a c h in g the
n o r m a l r e t i r e m e n t a g e s p e c if ie d in th e p la n . In g e n e r a l , th is a g e i s
d e fin e d a s the e a r l i e s t a g e at w h ic h th e w o r k e r , h a v in g q u a lifie d fo r
b e n e f i t s , m a y c h o o s e to r e t i r e an d r e c e i v e the fu ll b e n e fit to w h ic h
h is le n g th o f s e r v i c e a n d /o r e a r n in g s e n title h im u n d e r the n o r m a l
r e t i r e m e n t p r o v is io n o f the p la n .

U n d e r an e a r l y r e t i r e m e n t p r o v i s i o n , the w o r k e r c a n r e t i r e
p r io r to the s p e c i f i e d n o r m a l r e t i r e m e n t a g e and r e c e i v e an im m e d ia t e
b e n e fit.
In c o n t r a s t w ith n o r m a l r e t i r e m e n t , u n d e r w h ich the r ig h t
to r e t i r e i s a t th e o p tio n o f th e w o r k e r , e a r l y r e t i r e m e n t in s o m e
p la n s i s c o n tin g e n t u p on the c o n s e n t o f th e e m p l o y e r .

M in im u m R e q u i r e m e n t s . — R e f e r s to y e a r s o f s e r v i c e , ag e.,
u n io n m e m b e r s h i p , s e r v i c e in th e in d u s t r y , c o v e r e d e m p lo y m e n t , e t c .,
r e q u i r e d to q u a lify fo r b e n e f i t s . T h is d e fin itio n i s a l s o a p p lic a b le u n d er
th e e a r l y r e t i r e m e n t , d is a b i lit y r e t i r e m e n t , and v e s t in g p r o v i s i o n s .

B e n e f it F o r m u l a . — A c t u a r i a l e q u iv a le n t r e f e r s to a r e d u c t io n
in the b e n e f i t , c o m p u te d on an a c t u a r ia l b a s i s , to r e f l e c t th e lo n g e r
p e r io d o f b e n e fit p a y m e n t and s h o r t e r p e r io d o f fund a c c u m u la t io n
b e c a u se of e a r ly r e t ir e m e n t .




3
N o r m a l and

E a r ly

R e t ir e m e n t B e n e f it O p tio n s

U n d e r m a n y p e n s io n p la n s , b e n e fit p a y m e n t s c e a s e w h en the
p e n s io n e r dies*, I n c r e a s i n g l y , p la n s a r e p r o v id in g o p tio n a l m e th o d s o f
b e n e fit p a y m e n t s , w h e r e in the w o r k e r e le c t s to r e c e i v e a r e d u c e d
b e n e fit d u rin g h is l if e t i m e in o r d e r to p r o v id e fo r the c o n tin u a tio n of
s o m e b e n e fit to a d e s ig n a t e d b e n e f i c i a r y a fte r h is d e a th . T h e w o r k e r
m u s t g e n e r a ll y m a k e su c h a c h o ic e a p r e s c r i b e d t im e p r io r to r e t i r e ­
m e n t— u s u a lly 5 y e a r s .
T h e s c o p e o f th is stu d y w a s r e s t r i c t e d to
e x te n s io n o f o p tio n a l f o r m s u n d e r n o r m a l and e a r ly r e t i r e m e n t p r o ­
v i s i o n s , a lth o u g h th e y m a y a l s o b e a p p lic a b le u n d er d is a b i lit y r e t i r e ­
m e n t and v e s t i n g p r o v i s i o n s .
J o in t an d S u r v i v o r . — U n d e r th is p r o v i s i o n , the w o r k e r r e ­
c e iv e s a r e d u c e d b e n e fit w ith a g u a r a n ty th a t i f the w o r k e r d ie s w h ile
h is b e n e f i c i a r y i s l i v i n g , p a y m e n t s at a p r e d e t e r m in e d r a te w ill c o n ­
tin u e to th e b e n e f i c i a r y fo r l i f e .
T h e a c tu a l p r o v is io n s u n d er w h ich
th is op tio n o p e r a t e s v a r i e s c o n s id e r a b ly a m o n g p l a n s . F o r e x a m p l e ,
th e b e n e f i c i a r y to b e d e s ig n a t e d m a y b e l i m i t e d to the s p o u s e ; the
b e n e fit to b e c o n tin u e d m a y b e the s a m e , o n e - h a l f , o r in s o m e c a s e s ,
an y s e le c t e d p e r c e n t a g e o f the a m o u n t o f b e n e fit the r e t i r e d w o r k e r
r e c e iv e s , e tc.
P e r i o d C e r t a i n . -----T h e p e n s io n e r r e c e i v e s a r e d u c e d b e n e fit fo r
l i f e , bu t i f h e d ie s b e f o r e r e c e iv in g a s p e c ifie d n u m b e r o f p a y m e n t s ,
th e b a la n c e i s c o n tin u e d to h is b e n e f i c i a r y . T h e m o s t c o m m o n op tio n
u n d er th is ty p e is a 10- y e a r c e r t a in p a y m e n t (g u a r a n ty o f 120 m o n th ly
p a y m e n t s ) , a lth o u g h s h o r te r and lo n g e r c e r t a in p a y m e n t s a r e p r o v id e d
b y p la n s in th is d i g e s t .
C a s h R e fu n d . -----P r o v id e s th a t i f to ta l b e n e fit s r e c e i v e d b y the
p e n s io n e r a r e l e s s th a n th e p u r c h a s e p r ic e o f the b e n e fit at r e t i r e ­
m e n t , the b a la n c e is p a id to a d e s ig n a t e d b e n e f i c i a r y .
M o d ifie d C a s h R e fu n d . -----P r o v i d e s that i f to ta l b e n e fit s r e ­
c e iv e d b y th e p e n s io n e r a r e l e s s th a n th e w o r k e r *s c o n tr ib u tio n s (w ith
o r w ith o u t i n t e r e s t ) , th e b a la n c e is p a id to a d e s ig n a t e d b e n e f i c i a r y .
L e v e l I n c o m e (S o c ia l S e c u r it y A d ju s t m e n t O p tio n ) . -----T h e e a r ly
r e t i r e m e n t p r o v i s i o n s o f s o m e p la n s c o n ta in an o p tio n a l m e th o d o f
c o m p u tin g the b e n e f i t , th e p u r p o s e o f w h ic h i s to p r o v id e a l e v e l in ­
c o m e th r o u g h o u t r e t i r e m e n t a lth o u g h p r i m a r y s o c i a l s e c u r i t y b e n e fit s
a r e n ot a v a ila b le u n til a g e 65 (a g e 62 fo r w o m e n ). It i n v o lv e s g r a n tin g
a l a r g e r p la n b e n e fit th an a c t u a lly due u n d er the r e g u la r f o r m u la up
to th e tim e th e p r i m a r y s o c i a l s e c u r i t y b e n e fit i s r e c e i v e d , so that
th e m o n th ly p a y m e n t s r e c e i v e d p r io r to th a t tim e an d th o s e r e c e i v e d
u n d er th e c o m b in e d r e d u c e d p la n b e n e fit and p r i m a r y s o c ia l s e c u r i t y
b e n e fit a r e e q u a l.
D is a b il it y R e t ir e m e n t
T h e p r i m a r y p u r p o s e o f a d i s a b i li t y p r o v i s i o n i s to p e r m i t
th e w o r k e r w h o b e c o m e s t o t a lly and p e r m a n e n t ly d is a b l e d , an d w ho
d o e s n ot q u a lify fo r b e n e fit s u n d er o th e r p e n s io n p la n p r o v i s i o n s , to




r e t i r e w ith an im m e d ia t e b e n e f it .
S o m e p e n s io n p la n s w h ich do not
s p e c i f i c a l l y p r o v id e fo r a d is a b i lit y b e n e fit m a y u t i liz e the e a r ly r e ­
t ir e m e n t o r v e s t in g p r o v is io n to p r o v id e r e t i r e m e n t b e n e fit s to the
d is a b le d w o r k e r .
M in im u m R e q u i r e m e n t s . — In a d d itio n to m in im u m a g e a n d /o r
s e r v i c e r e q u i r e m e n t s , the w o r k e r m u s t b e t o t a lly and p e r m a n e n t ly
d is a b le d a s d e fin e d in the p la n . T h e d e fin itio n m a y v a r y c o n s id e r a b ly
a m o n g p la n s ; no a tte m p t w a s m a d e in th is stu d y to a n a ly z e th is a s p e c t
o f d is a b i lit y r e t i r e m e n t .
B e n e fit F o r m u l a . — nA t a g e 65, n o r m a l b e n e fit p a y a b le ,* ' *'Upon
r e c e iv in g S o c ia l S e c u r it y d is a b i lit y b e n e f i t , o r a t a g e 65, n o r m a l b e n e ­
fit p a y a b l e , 1 and s i m i l a r e n t r i e s , in d ic a te th a t the d is a b i lit y b e n e fit
1
is r e c o m p u t e d a t th a t tim e an d the n o r m a l b e n e fit f o r m u la i s u s e d in
c o m p u ta tio n o f th e b e n e fit p a y a b le t h e r e a f t e r .
V e s t in g
V e s t in g m a y b e d e fin e d a s a g u a r a n ty to th e w o r k e r o f a r ig h t
o r e q u ity in a p e n s io n p la n b a s e d on a ll o r p a r t o f th e e m p l o y e r ^
c o n tr ib u tio n s m a d e in h is b e h a lf sh o u ld h is e m p lo y m e n t b e t e r m in a t e d
b e f o r e h e b e c o m e s e li g ib l e f o r r e t i r e m e n t b e n e f i t s .
T h is e q u ity , o f
c o u r s e , w o u ld not b e a s l a r g e a s i f h e h a d w o r k e d u n til n o r m a l r e ­
tir e m e n t a g e .
U n d e r a ll c o n tr ib u to r y p la n s in th is r e p o r t , th e w o r k e r is
p e r m it t e d to w ith d ra w h is ow n c o n t r ib u t io n s , w ith o r w ith o u t i n t e r e s t ,
w h en t e r m in a t e d .
H o w e v e r , in a l l o f t h e s e p l a n s , w ith d r a w a l o f the
c o n tr ib u tio n s m e a n s l o s s o f b e n e fit s p u r c h a s e d b y e m p lo y e r c o n tr ib u ­
tio n s .
A l s o , in s o m e o f the c o n tr ib u to r y p la n s th e t e r m in a t e d n o n v e s t e d w o r k e r ca n e le c t to l e a v e h is ow n c o n tr ib u tio n s in the p la n and
r e c e i v e a b e n e fit p u r c h a s e d b y h is own c o n t r ib u t io n s .
T y p e s . — D e f e r r e d fu ll v e s t in g i s a p r o v i s i o n u n d e r w h ich the
w o r k e r r e t a in s a r ig h t to a l l a c c r u e d b e n e fit s a f t e r h e a t ta in s a c e r t a in
a g e a n d /o r c o m p le t e s a s p e c if ie d p e r io d o f s e r v i c e .
In d e f e r r e d
g r a d e d v e s t i n g , th e w o r k e r h a s a r ig h t to a c e r t a in p e r c e n t a g e o f
a c c r u e d b e n e fit s a fte r h e h a s f u lf i l l e d s p e c i f i e d r e q u i r e m e n t s .
T h is
p e r c e n t a g e i n c r e a s e s a 6 a d d itio n a l r e q u i r e m e n t s a r e f u lf i l l e d u n til the
w o r k e r i s e n tit le d to the fu ll (100 p e r c e n t ) b e n e fit .

or

C o n d it io n s . — T h is t e r m r e f e r s to th e n a tu r e o f th e t e r m in a t io n
s e p a r a t io n u n d er w h ic h v e s t i n g is p e r m i t t e d .

In v o lu n ta r y R e t ir e m e n t
C o m p u ls o r y R e t ir e m e n t A g e . — F o r p u r p o s e s o f th is stu d y c o m ­
p u l s o r y r e t i r e m e n t a g e is tha t^ ag e a t w h ic h th e w o r k e r ca n b e r e t i r e d
b y r e a so n of age a lo n e .
It i s th a t p o in t a t w h ic h th e w o r k e r l o s e s
the p r i v i l e g e o f d e c id in g w h e th e r h e sh o u ld r e t i r e o r co n tin u e in h is
jo b .
A w o r k e r m a y , h o w e v e r , b e p e r m i t t e d to co n tin u e e m p lo y m e n t
on a y e a r - t o - y e a r b a s i s , in s o m e c a s e s s u b je c t to p a s s in g ann ual
p h y s ic a l e x a m in a t io n s o r m e e t in g s ta n d a r d s o f jo b p e r f o r m a n c e .

4
A u t o m a t i c R e t ir e m e n t A g e . — F o r p u r p o s e s o f th is stu d y a u to ­
m a t i c r e t i r e m e n t a g e i s th a t a g e a t w h ic h the w o r k e r m u s t c e a s e h is
e m p lo y m e n t , th e p la n h a v in g i r r e v o c a b l y e s t a b li s h e d th is a g e a s a
m a x im u m .
D e a th

B e n e f it s

B e f o r e and A f t e r R e t i r e m e n t . — E n t r ie s in t h e s e c o lu m n s a r e
l i m i t e d to tke d eath b e n e fit s p r o v id e d b y th e p e n s io n p la n i t s e l f , in ­
clu d in g r e tu r n o f w o r k e r 's c o n tr ib u tio n s w ith o r w ith o u t i n t e r e s t .
B e n e f it s p r o v id e d u n d er a g r o u p in s u r a n c e p la n an d o th e r p la n s a r e
n ot w ith in th e s c o p e o f th is s tu d y .

I n s u r e d ; D e p o s it A d m i n i s t r a t i o n .— A n in s u r a n c e c o m p a n y is
s e le c t e d to u n d e r w r ite th e b e n e f it s o f th e p la n . C o n tr ib u tio n s (in the
f o r m o f p r e m i u m s ) a r e h e ld a s a fund b y th e in s u r a n c e c o m p a n y .
T h e r e i s no a l lo c a t i o n to the a c c o u n t o f th e in d iv id u a l w o r k e r , but
a c c u m u la t e d fu n d s a r e u s e d to p u r c h a s e th e b e n e fit fo r e a c h w o r k e r
a t r e t i r e m e n t in a c c o r d a n c e w ith th e p r o v i s i o n s o f th e p la n .
A d m in i s tr a tio n
F or p u rp oses
tw o m a j o r a r e a s .

of

th is

stu d y ,

a d m in i s t r a t io n

is

d iv id e d

in to

F in a n c in g

A d m in is t r a t i o n o f F u n d in g (fin a n c ia l c o n t r o l ) .— L o c a t e s the
r e s p o n s i b i l i t y io r s e le c t i o n o f m e d iu m o f fu n d in g , a d o p tio n o f funding
m e t h o d s , i n v e s t m e n t , s e le c t i o n o f a c t u a r y , e t c .

I n fo r m a tio n on th e a m o u n t o f c o n tr ib u tio n s i s p r o v id e d to the
e x te n t th a t d e t a ils a r e a v a ila b le in th e l i t e r a t u r e d e s c r ib i n g the p la n .
N o a tte m p t w a s m a d e to d e t e r m in e th e a c tu a l a m o u n t o f c o n tr ib u tio n
o r c o s t in c a s e s w h e r e the p lan s ta te d the e m p lo y e r p a id the fu ll c o s t
or b a la n c e o f c o s t .

A d m i n i s t r a t i o n o f P l a n . — L o c a t e s the r e s p o n s i b i l i t y f o r the
d a y - t o - d a y m a n a g e m e n t o f tb e p la n , s u c h a s d e t e r m in a tio n o f e li g i b i l i t y ,
s e r v i c e c r e d i t i n g , in t e r p r e t a t io n o f p la n , p r o c e s s i n g a p p l ic a t io n s , e t c .

M e d iu m

C e r t a in o f th e a d m in i s t r a t iv e fu n c tio n s d e s c r ib e d a b o v e m a y
b e d e le g a t e d to a b a n k , in s u r a n c e c o m p a n y , t r u s t c o m p a n y , e t c . H o w ­
e v e r , fo r p u r p o s e s o f th is s tu d y , a d m in i s t r a t io n is c l a s s i f i e d on the
b a s i s o f w h e r e th e o r ig i n a l r e s p o n s i b i l i t y f o r t h e s e fu n c tio n s r e s i d e s .

o f F u n d in g

E n t r ie s in th is c o lu m n r e f e r to the o r g a n iz a t i o n , o r ty p e o f
o r g a n iz a t i o n , th r o u g h w h ich b e n e fit s a r e p r o v id e d . M e d iu m o f funding
i s to b e d is tin g u is h e d f r o m th e m e th o d o f funding w h ich r e f e r s to the
te c h n iq u e b y w h ic h the m o n e y r e q u i r e d to p r o v id e th e b e n e fit s i s a c ­
c u m u la te d o r b u d g e te d .
T ru ste e d ; B a n k -A d m in is te r e d .
T h is t e r m is u s e d to in c lu d e
b o th a b a n k o r t r u s t c o m p a n y w ith w h ic h c o n tr ib u tio n s a r e d e p o s i t e d .
A m o n g the fu n c tio n s p e r f o r m e d b y th e t r u s t e e a r e in v e s t m e n t o f fu n d s
and p a y m e n t o f b e n e fit s to e li g ib le w o r k e r s .

v id u a l
fu n d .

T r u s t e e d ; S e l f - A d m i n i s t e r e d . — A b o a r d o f t r u s t e e s o r an in d i­
t r u s t e e (not a b a n k o r t r u s t c o m p a n y ) a d m i n i s t e r s the t r u s t
F u n c t io n s p e r f o r m e d a r e s i m i l a r to th o s e m e n tio n e d a b o v e .

I n s u r e d ; G r o u p A n n u ity ..— A n in s u r a n c e c o m p a n y i s s e le c t e d
to u n d e r w r ite th e b e n e fit s oi the p la n . C o n tr ib u tio n s (in th e f o r m o f
p r e m i u m s ) a r e m a d e to th e in s u r a n c e c o m p a n y and p a id -u p u n its a r e
p u r c h a s e d e a c h y e a r fo r e a c h w o r k e r . A m o u n t o f r e t i r e m e n t in c o m e
fo r e a c h w o r k e r at r e t i r e m e n t i s th e s u m o f t h e s e p a id -u p u n it s .




A s in g le e n tr y in th is c o lu m n in d ic a t e s th a t the p a r ty n o ted
h a s r e s p o n s i b i l i t y fo r o v e r a l l a d m i n i s t r a t i o n , in c lu d in g f in a n c ia l c o n ­
t r o l an d a d m in i s t r a t io n o f the p la n .
B i p a r t i t e . — A jo in t ( m a n a g e m e n t -u n io n ) b o a r d o f a d m i n i s t r a ­
tio n i s e s t a b li s h e d to a d m in i s t e r the p la n .
M o s t p la n s in th is stu d y
a l s o p r o v id e f o r s e le c t i o n o f n e u tr a l m e m b e r s w h o m a y v o te o n ly in
c a s e o f a d e a d lo c k .
T r i p a r t i t e . — A b o a r d o f a d m in i s t r a t io n i s e s t a b li s h e d to a d ­
m i n i s t e r th e p la n . It is m a d e up o f a n e q u a l n u m b e r o f e m p lo y e r and
u n ion d e s ig n a t e d m e m b e r s , w ho in tu r n s e l e c t the th ir d p a r t y .
B ip a r t it e A d m i n i s t r a t i o n o f P la n
(s p e c ific r e s p o n s ib ilitie s
o u tlin e d in a g r e e m e n t ) .— A s u s e d in t h is r e p o r t , th is p h r a s e in d ic a t e s
th a t th e m a n a g e m e n t -u n io n c o m m it t e e h a s .a d m i n is t r a t iv e fu n c tio n s a s
s p e c i f i e d in the c o ll e c t i v e b a r g a in in g a g r e e m e n t .
T h e e m p lo y e r g e n ­
e r a l l y r e t a in s r e s p o n s i b i l i t y f o r th e fu n c tio n s n ot s p e c if ie d to b e u n d er
the j u r i s d i c t i o n o f th e b ip a r t it e c o m m i t t e e . N o a t te m p t w a s m a d e to
d e fin e the a r e a o f s o l e e m p lo y e r r e s p o n s i b i l i t y .




5

6
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
D ATE O F INFORMATION

PA R T IC I­
PATION
REQ U IR EMENTS

Minimum
requirements
Age

A r m o u r and C om p any

_

65

Service
fYears)

10

Service
credited
after
normal
age

A ll.

Benefit formula

M on th ly— $ 1 .50 tim e s y e a r s o f s e r v ic e to a m a x im u m of
30 y e a r s .

M e a t C u tte r s ; P a c k in g h ou se W o r k e r s (U P W A )

at age 65 under normal retirement formula
including primary Social Security benefits

\ssum ing average annual e arnings of—
SUKMJ
S3,600
84,200
and including present prir
Security benefits of—
8108.50
898.50
8108.50

A fte r 2 5 y e a r s o f futu re s e r v ic e :
$ 1 3 6 . 00
$ 1 4 6 . 00
$ 1 4 6 .0 0
A f t e r 30 y e a r s of futu re s e r v ic e :
$ 1 4 3 . 50
$ 1 5 3 . 50
$ 1 5 3 . 50

EA R LY RETIR EM EN T
Minimum
requirements
Benefit formula
Age

60

Service
(Years)

10

A t w o r k e r 's
r e q u e st.

N o r m a l b en efit redu ced
^ 10 of 1 p erc en t fo r each
m onth under age 6 5 , p a y ­
ab le im m e d ia te ly .

January 1958
A f t e r 35 y e a r s o f futu re s e r v ic e :
$ 1 4 3 . 50
$ 1 5 3 . 50
$ 1 5 3 . 50

G e n e ra l F ood s
C o rp o ra tio n

1 y e a r of
s e r v ic e .

65

___

V a r io u s unions

N one.

M on th ly— None on f ir s t $ 5 0 o f m on th ly ea rn in g s, a p p r o x imateTy 1 . 5 p e r c e n t o f n ext $ 2 0 0 of e a rn in g s, and a p p r o x im a te ly 2 p e r c e n t o f ea rn in g s e x ce ed in g $ 2 5 0 , fo r each
y e a r of s e r v i c e . 1

A fte r 2 5 y■ears of futu re s e r v ic e :
— $”19 8. 5(7
$ 2 2 8 . 50
$ 2 6 8 . 5o
A fte r 30 y■ears of futu re s e r v ic e :
■$21"8. 5(5" $ 2 5 2 .3 3 ' — $ 3 0 0 .3 0

55

___

W ith e m p lo y ­
e r 's co n se n t.

A c tu a r ia l eq u ivalen t of
n o rm a l b e n e fit, p ayab le
im m e d ia te ly ; or n o rm a l
b e n e fit, p ayab le at age 65 .

F e b r u a r y 1958
A fte r 35 y e a r s o f futu re s e r v ic e :
— $ 2 T 8 . 5(F $'276. ^
' $ 3 52V 50

C a m p b e ll Soup C om p an y
(C am d en , N . J . )
P ackin gh ou se W o r k e r s
(U P W A )

A g e 30
and
5 y e a rs
of
s e r v ic e .

65

___

N on e. Y e a r ly — 1 p e r c e n t of annual ea rn in g s ex ce ed in g $ 6 0 0 fo r
ea ch y e a r of s e r v i c e . 1
M in im u m m on th ly b en efit - $ 2 5 .
$ 1 7 3 . 50"

D e c e m b e r 19 5 7

E x c lu d e s p r e m e m b e r s h ip s e r v ic e .
In cludes p r e m e m b e r s h ip s e r v ic e .
In clud es p r e m e m b e r s h ip s e r v ic e . 6 y e a r s in c a se o f i ll h ealth .




A f t e r 2 5 y e a r s of futu re s e r v ic e :
$ 1 8 3 .5 0
$ 2 0 0 .1 ?
$ 1 6 1 .0 0
A fte r

30 y e a r s of futu re s e r v ic e :
$ 1 9 8 .5 0
“ $ 2 1 8 .5 0

A f t e r 35 y e a r s of fu tu re s e r v ic e :
$ 18'6. 00' $ 2 T 3 .'5 7 T ' $2 3'6 . 83

55

3 10

W ith e m p lo y e r 's c o n se n t.

A c t u a r ia l eq u ivalen t of
n o r m a l b e n e fit (m in im u m
not a p p l ic a b le ) ,, p ayab le
im m e d ia te ly ; o r n o rm a l
b en efit (m in im u m not
a p p lic a b le ), p a y a b le at
age 6 5 .

7
UDRCLETV BRA I G
NE OLCI E AGI N
N
DISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

Type, conditions,
and minimum
requirements

M on th ly— g r e a te r o f: (1) $ 5 0 , or
(2) $ 3 tim e s y e a rs of s e r v ic e to a
m a x im u m o f 30 y e a r s .
Upon r e c e iv in g S o cia l S ec u rity
d isa b ility b e n e fit, or at age 65 ,
n o r m a l b en efit p ayab le.

D e fe r r e d fu ll.
T e r m in a ted a s r e su lt
o f p lant, d ep artm en t,
o r unit c lo s in g , or
job p erm a n en tly
e lim in a te d by te c h ­
n o lo g ic a l chan ge.
A g e 55 and 2 5 y e a r s
of s e r v ic e .

L e v e l in ­
com e
( E a r ly ) .

Joint and
su r v iv o r .
L e v e l in ­
com e
(E a r ly ).




Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y ea rs)

15

Joint and
su rv iv o r.

INVOLUNT ARY
RETIR EM E N T

VESTIN G

D e fe r r e d fu ll.
T e r m in a te d fo r any
r e a so n .
10 y e a r s of s e r v ic e . 2

D e fe r r e d fu ll.
T e r m in a ted fo r any
r e a so n .
A g e 45 and 10 y e a r s
of s e r v i c e .2

F u ll
c o s t.

N o r m a l b en efit
red u ced 6
/io of
1 p erc en t fo r
each m onth
under a g e 65 to
date b en efit b e ­
g in s, p ayable
an ytim e during
5 -y e a r p eriod
p r io r to a g e 65;
or n o rm a l b e n e ­
fit, p ayab le at
age 65.

T r u ste e d ;
E m p lo y e r
b an k a d m in istr a tio n
a d m in iste red . of funding.
B ip a rtite
a d m in istr a tio n
of plan ( s p e c i­
fic r e s p o n s i­
b ilit ie s outlined
in a g r e e m e n t).

A c tu a r ia l eq u iv ­
ale n t of n o rm a l
b e n e fit, p ayab le
an y tim e during
1 0 -y e a r p erio d
p r io r to age 65;
or n o rm a l b e n e ­
fit , p ayab le at
age 65 .

65

N o r m a l b e n e fit,
(m in im u m not
a p p lic a b le ), p a y ­
a b le at age 6 5 .

65

W o r k e r 's
W o r k e r 's
contribu tions con tribu tions
plus in te r e s t. plus in te r e s t,
le s s b e n e ­
fits
r e c e iv e d .

65

E m p loye d
a fte r age 55,
60 m on th ly
p aym ents
fo r w hich
w o r k e r w as
qu alified at
tim e of
death.

60 m on th ly
p a y m e n ts,
le s s p a y ­
m en ts
r e c e iv e d .

B alan ce
None on
f i r s t $ 5 0 of c o s t.
of
m on th ly
ea rn in g s,
a p p r o x i­
m a te ly
2. 5 p er­
cent of
next
$ 2 0 0 of
e a r n in g s ,
and
a p p r o x i­
m a te ly
4 p erc en t
of ea rn ­
in gs e x ­
ceed in g
$250.

F u ll
c o s t.

In su red;
group
annuity.

In su re d ;
group
annuity.

E m p lo y e r .

E m p lo y e r .

8
SLCE PNI NPAS
EETD ESO LN
NORMAL R E TIR EM E N T
COMPANY, UNION, AND
D A TE O F INFORMATION

PA R T IC I­
PATION
REQ U IR E­
MENTS

Minimum
requirements
Age

B r e w e r s B o a rd of T rad e
(New Y o r k , N . Y . )

2 5 0 days
of em ­
p lo y m e n t

Service
(Years)

65

Service
credited
after
normal

Assuming average annual earnings of—
Benefit formula

*®
8

A ll.

T e a m ste rs

ILL U ST R A T IV E MONTHLY PEN SIO N S
at age 65 under normal retirement formula
including primary Social Security benefits

$3,600

$98.50

M o n th ly — 3 0 . 8 p e r c e n t o f w o rk er*s a g g r e g a te contribu tions
a ft e r M a y 13 , 19 56 ; 3 . 85 p e r c e n t o f w o r k e r ^ a g g r e g a te c on ­
trib u tion s fr o m O c t. 1, 1 9 4 9 , through M a y 1 3 , 1 9 5 6 ; and fo r
s e r v ic e p r io r to O c t. 1, 1 9 4 9 , $ 1 . 4 5 tim e s y e a r s o f s e r v ic e
to a m a x im u m o f 30 y e a r s .

$4,200

$5,000

and including present primary Social
Security benefits of—

$108.50

$108.50

EA R LY RETIR EM E N T
Minimum
requirements
Benefit formula
Age

Service

(Yas
er;

A fte r 2 5 y e a r s o f fu tu re s e r v ic e :
$ 1 9 8 . 60
$ 2 0 8 . 60
$ 2 0 8 . 60
A f te r 30 y e a r s of fu tu re s e r v ic e :
$ 2 1 $ . 62
$ 2 2 8 . 62
$ 2 2 8 . 62

A t w o r k e r 's
r e q u e st.

A c tu a r ia l eq u ivalent of
n o rm a l b e n e fit, p ayab le
im m e d ia te ly ; o r n o r m a l
b e n e fit, p ayab le a t a g e 65.

N o v e m b e r 19 57
A f t e r 35 y e a r s o f fu tu re s e r v ic e :
$ 2 3 8 . 64
$ 2 4 8 . 64
$ 2 4 8 . 64

(2
)

B a k ery and c o n fe ctio n e r y
in d u str y , v a rio u s
e m p lo y e r s

65

4 15

B a k e r y and C o n fe ctio n e r y
W orkers
N ation al plan

(5
)

M o n th ly — fo r w o r k e r s em p lo y ed b y e m p lo y e r who b egan c o n ­
trib u tin g to plan p r io r to Jan. 1, 1 9 5 8 : F o r 2 5 o r m o r e
y e a r s of s e r v i c e , $ 5 0 tim e s ( l ) e m p lo y e r w e e k ly con trib u ­
tion rate tim e s m on th s of s e r v ic e a fte r D e c . 3 1 , 1 9 5 7 , such
contribu tions w e r e m a d e in w o rk er*s b e h a lf, divided b y
(2) tw ice the n u m b er of m on th s of s e r v ic e a ft e r D e c . 3 1 ,
1 9 5 7 , su ch contribu tions w e r e m a d e in w o r k e r ^ b e h a lf.

A f t e r 2 5 y e a r s o f fu tu re s e r v ic e :

6"$ 148". 50

-* 1 5 8 . OT

$ 138.50

7 $ 1 9 8 .5 0

$ 2 0 8 .5 0

$ 2 0 8 .5 0

55

4 15

A t w o r k e r 's
r e q u e s t.

N o r m a l b en efit red u ced
V i of 1 p erc en t fo r each
m on th under a g e 6 5 , p a y ­
a b le im m e d ia te ly .

A f t e r 30 y e a r s o f fu tu re s e r v ic e :

* '$ 1 4 8 .5 0 ..$ 158.50

$158.50

7 $ 1 9 8 .5 0

$ 2 0 8 .5 0

$ 2 0 8 .5 0

A f t e r 35 y e a r s o f futu re s e r v ic e :
F o r w o r k e r s em p loyed b y an e m p lo y e r who began co n trib u t­
*$T4ffT50— $15-8.50— $T58."50'
ing to plan a fte r D e c . 3 1 , 1 9 5 7 , tw ice the n u m b e r o f m on th s
7 $ 1 9 8 .5 0
$ 2 0 8 .5 0
$ 2 0 8 .5 0
betw een D e c . 3 1 , 1 9 5 7 , and date em p lo y e r f i r s t b egan c on ­
tribu tin g to plan is added to both (1) and (2) ab ove in c o m ­
putation o f b e n e fit. R e su lt red u ced V i o f 1 p erc en t fo r each
m on th betw een D e c . 3 1 , 1 9 5 7 , and date e m p lo y e r f i r s t began
contribu ting to p lan .

J anu ary 1958

R educed p ro p o r tio n a te ly fo r 15 or m o r e but le s s than
2 5 y e a r s of s e r v ic e .

The A m e r ic a n T o b a c co
C om p an y
Tobacco W ork ers
O cto ber 19 57

65

1
2

N on e. Y e a r ly — fo r s e r v ic e a ft e r D e c . 3 1 , 1 9 4 8 , 2 p e r c e n t o f f i r s t
$ 5 , 00 0 o f annual e a rn in g s f o r ea ch y e a r o f su ch s e r v ic e
w ithin 25 y e a r s of r e tir e m e n t and 1 . 5 p e r c e n t o f ea rn ings
ex ce ed in g $ 5 , 00 0 f o r each y e a r o f such s e r v ic e a fte r
a g e 30 ; fo r s e r v ic e p r io r to. Jan. 1, 1 9 4 9 , 2 p e r c e n t of
f i r s t $ 5 , 00 0 of annual ea rn in g s r a te on Jan. 1, 1 9 4 9 ,
tim e s y e a r s of su ch s e r v ic e w ithin 2 5 y e a r s of r e t i r e ­
m en t and 1. 125 p e r c e n t of ea rn in g s e x ce ed in g $ 5 , 00 0 fo r
each y e a r o f su ch s e r v ic e a fte r a g e 3 0 ; le s s o n e -h a lf
p r im a r y S o c ia l S e c u r ity b e n e fit.

A f t e r 2 5 y e a r s of futu re s e r v ic e :

$ 799.25

$22 9 .2 5

$ 262.58

A f te r 30 y e a r s o f fu tu re s e r v ic e :

— $T99:25

$229.25— $ 262.58

60

1
2

W ith e m p lo y ­
e r 's c o n se n t.

A c t u a r ia l eq u ivalent of
n o r m a l b en efit,, p ayab le
im m e d ia te ly ; o r n o r m a l
b e n e fit, p ayab le at
age 65.

A fte r 35 y e a r s of fu tu re s e r v ic e :

■- *T99-'Z5 .$ 22 9 .2 5 .... $262'. 58

1 Upon p a r tic ip a tio n , w o r k e r is given c r e d it fo r 1 y e a r o f s e r v ic e .
2 In com p uting b e n e fit s , w o r k e r w as a s s u m e d to have b ee n e m p loyed 52 w ee k s p e r y e a r and contribu ted $ 0 . 2 5 w e e k ly .
3 In clud es p r e m e m b e r s h ip s e r v ic e .
4 15 y e a r s o f s e r v ic e in the in d u stry in clu d ing 3 m on th s w ith contribu ting e m p lo y e r . S e r v ic e in clu d es (1) e m p lo y m en t w ith contribu ting e m p lo y e r s , and (2) e m p lo y m e n t p r io r to date e m p lo y e r
b egan contribu ting to the p la n , if w o r k e r w as e m p lo y ed a t le a s t 135 d ays in ea ch o f the p r e c e d in g 3 c a len d a r y e a r s and su ch e m p lo y m e n t w as in a jo b and p lant then c o v e r e d b y a c o lle c tiv e b a rg a in in g
a g r e e m e n t o r su b se q u en tly b y a g r e e m e n t on date e m p lo y e r b egan contribu ting to p la n .




9

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM E N T
NORMAL
AND E A R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Age

Type, conditions,
requirements

Service

Benefit formula

Compulsory
at age -

Deferred full.
Terminated for any
reason.
15 years of service. 3

Before
retirement

4 15

Workers
contributions
plus
interest.

Actuarial equiv­
alent of normal
benefit, payable
anytime during
10-year period
prior to age 65;
or normal bene­
fit, payable at
age 65.

Normal benefit reduced x of 1 per­
/z
cent for each month under age 65,
increased 10 percent but not to ex­
ceed normal benefit, payable
immediately.

(5)

At age 65, normal benefit payable.

Joint and
survivor.

Automatic
at age -

DEATH B E N E F IT S

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y ears)

Joint and
survivor.

55

INVOLUNTARY
RETIR EM E N T

VESTIN G

12

Deferred full.
Yearly— for service after Dec. 31,
1948, 2 percent of first $5,000 of
Terminated for any
annual earnings for each year of
such service within 25 years of dis­ reason.
ability and 1. 5 percent of earnings
exceeding $5, 000 for each year of
Age 50 and 20 years of
such service within 35 years of dis­ service.
ability; for service prior to Jan. 1,
1949, 2 percent of first $5, 000 of
annual earnings rate on Jan. 1, 1949,
times years of such service within
25 years of disability and 1. 125 per­
cent of earnings exceeding $5, 000
for each year of such service within •
35 years of disability; less one-half
Social Security disability benefit.

Actuarial equiv­
alent of normal
benefit, payable
anytime during
5-year period
prior to age 65;
or normal bene­
fit, payable at
age 65.9

65

(5)

Worker‘s
contributions
plus interest;
less benefits
received.

36 monthly
payments,
less pay­
ments
received.8

$0.05
$1 per Trusteed;
,Bipartite.
per
day per selfwork­
day—
administered.
maximum er—
$0.25
maxi­
per
mum
week.
$5 per
week.

Trusteed;
Bipartite.
Full
cost— selfadministered.
Contri­
bution
rate
accord­
ing to
local
agree­
ment
(see
normal
benefit
formula
for ef­
fect on
benefit).

Full
cost.

Not funded.

Employer.

Upon receiving primary Social
Security benefit, or at age 65, less
one-half primary Social Security
benefit.
5
in 1961,
8
7
8
9

An eligible worker (age 65 or older with 15 years of service) loses all rights to benefits if he does not retire at age 75 if reached in 1957, age 74 in 1958, age 73 in 1959, age 72 in I960, age 71
and age 70 in 1962 and thereafter.
Based on employees weekly contribution rate of $2.
Based on employees weekly contribution rate of $4.
Not applicable to worker retired under disability provisions.
Only service after age 30 used to compute benefit.
i




1
0
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIO NS
at age 65 under normal retirement formula
including primary Social Security benefits

NORMAL R E TIR EM E N T
COMPANY, UNION, AND
D ATE O F INFORMATION

P A R T IC I­
PATION
REQ U IR EME N TS

Minimum
requirements
Age

Bigelow-Sanford
Carpet Company, Inc.

__

Service
(Years)

65

20

Service
credited
after
normal
*8 *

Assuming average annual earnings of—
83,600
84,200
85,000
and including present primary Social
Security benefits of—
898.50
8108.50
8108.50

Benefit formula

To
Monthly— $100 for 30 or more years of service, reduced
age 72. proportionately for 20 or more but less than 30 years of
service, less primary Social Security benefit.

Textile Workers (TWUA)

After 25 years of future service:
$ 98.50 $ IDS. 50
$108. 50
After 30 years of future service:
$100. oo $i08. 50
$1"08. 50

February 1958

EA R LY RE TIR EM E N T
Minimum
requirements
Benefit formula
Age

Service
(Years)

60

20

At wc►
rker's
reque!S t.

Actuarial equivalent of
normal benefit, payable
immediately; or normal
benefit, payable at age 65.

After 35 years of future service:
$10o. 00 $ 1Os. 50
$ 108. 5o

Armstrong Cork Company

Noncontributory plan

Rubber Workers
January 1958

1 year of
service.

65

35

None.

Monthly—for service after May 31, 193 7, monthly equivalent of V of 1 percent of first $3, 000 of annual earnings
a
and 1 percent of earnings exceeding $3, 000 for each year
of service;3 for service prior to June 1, 1937, monthly
equivalent of 1 percent of annual earnings of 1936 times
years of service between age 30 and June 1, 193 7.
Minimum monthly benefit-$142. 50 for 25 or more years of
service,4 reduced $1. 75 per month for each year of service
less than 25 to a minimum of $116.25 for 10 years of
service; less primary Social Security benefit.

After 25 years of future service:
$142. 50 $164. 75
$ 181.42
After 30 years of future service:
$151.00 $ 11b. 00
$196. 00

55

35

With employ­
er's consent.

Actuarial equivalent of
normal benefit, payable
immediately; or normal
benefit, payable at age 65.

After 35 years of future service:
$159. 75 $187.25
$210.58

Supplemental contributory plan

Same as
above.

--------- 1
------------Same as above. Same
as
above.

Monthly—monthly equivalent of Vs of 1 percent of first
$3, 000 of annual earnings and 1 percent of earnings ex­
ceeding $3, 000 for each year of service. 3

After 25 years of future service:
$43. 75
$56.25
$ 72. 91

~
1------------Same as
Same as above.
above

After 30 years of future service:
$52.50
$67.50
$87.50
After 35 years of future service:
$61.25
$75775
$102.09

Textile industry, dyeing
and printing, various
employers
Textile Workers (TWUA)
December 1957

65

5 15

To
age
70.6

Monthly— $1.03 times years of service to a maximum of
25 years.

After 25 years of future service:
$124.25 $134.25
$134.25
After 30 years of future service:
$ 124".2 5"" $131725------$134.25'
After 35 years of future service:
~$T2T.25—$131E725------$r31725“

Worker may continue in employment with both union's and employer's consent to age 72.
Worker may continue in employment with employer's consent beyond age 72.
Excludes premembership service.
Includes premembership service.
For workers attaining age 65 after Dec. 31, 1957: 15 years of service in industry including 5 of 10 calendar years immediately preceding retirement. For workers attaining age 65 from
Jan. 1, 1953, through Dec. 31, 1957: 15 years of service in industry if age 65 before 1955, 17 if age 65 attained in 1955, 18 in 1956, 19 in 1957, including 5 of 10 calendar years immediate preceding




11
UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

INVOLUNTARY
RETIR EM E N T

VESTIN G

DEATH B E N E F IT S

FINANC: in g
MEDIUM
O F FUNDING

Type, conditions,
and minimum
requirements

Benefit formula

Compulsory
at age -

Automatic
at age -

Before
retirement

After
retirement

Fmployee

ADMINISTRATION

Employer

(Y ea rs)

168

Full
cost.

Not funded.

Full
cost.

Combination:

Employer.

2 72

Noncontributory plan

Joint and
survivor.

50

4 15

Monthly— $75, less monthly benefit Deferred full.
for which eligible under total dis­
ability of group insurance, early re­ Terminated for any
tirement, and Social Security dis­
reason.
ability benefit (at age 65, less
primary Social Security benefit).
5 years of service.

Actuarial equiv­
alent of normal
benefit (mini­
mum not appli­
cable), payable
anytime during
10-year period
prior to age 65;
or normal bene­
fit (minimum
not applicable),
payable at
age 65.

65

Trusteed;
bankadministered.
Insured;
deposit ad­
ministration.

Supplemental contributory plan

-------------------- 1
See early retirement and vesting
provisions.

Same as
above.

720

Monthly— $1.03 times years of
service to a maximum of 25 years.

Same as abc)ve.

Deferred full.

Normal benefit
reduced Va of
1 percent for
each month under
age 65 to date
benefit begins,
25 years of service,7 payable anytime
or 15 years of
during 5-year
service. 8
period prior to
age 65; or nor­
mal benefit; pay­
able at age 65.
Terminated for any
reason.

--------1
Same as above.

Workers
contribu­
tions plus
interest.

Worker *s
contribu­
tions plus
interest, less
benefits
received.

2 percent Balance iSame as
of cost. above.
of first
$3, 000 of
annual
earnings,
and 4 per­
cent ex­
ceeding
$3,000.
Full
cost--$6 per
worker
per
month.

Same as above.

Trusteed;
Bipartite.
selfadministered.

retirement, or 15 years of service in industry (at least 5 years since Dec. 31. 1948) including 5 of 10 calendar years immediately preceding retirement. Service includes (1) employment with contributing employers after Dec. 31, 1948, and (2) employment in industry from Jan. 1, 1933, through Dec. 31, 1948.
6 Service credited after ag - 70 only to attain minimum service eligibility for benefits and cannot be used to compute benefits.
» iryeiarsaofde
employ^ef
nt°wUh'an employer who had contractual relations with union before Jan. 1, 1935, and 24 work-months with a contributing employer during period Sept. 1, 1948, through
Dec. 31, 1952.




12
SLCE PNI NP N
EETD ESO U S
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
D A TE O F INFORMATION

PA R T IC I­
PATION
r e q u ir e ­

Minimum
requirements

m ents

Age

Clothing industry,
men's and boys',
various employers

10
2

Benefit formula

Service
(Years)

65

Service
credited
after

Monthly—$50.

Assuming average annual earnings of—
83,600
84,200
85,000
and including present primary Social
Security benefits of—
898.50
8108.50
8108.50

After 25 years of future service:
$ 145730 “ ""$133730----- "$133730"

E A R LY R E TIR EM E N T
Minimum
requirements
Benefit formula
Age

Service
(Years)

6l *
2 2
0

Women only

After 30 years of future■service: At worker's
$148.50
$158.50
$158. 50 request.

Clothing Workers
National plan

Normal benefit reduced
5 percent for each 6month period under
age 65, payable
immediately.

After 35 years of future service:
$148.50
$158. 50
$158.50

December 1957

Cotton garment and
allied industries,
various employers

ILL U S T R A T IV E MONTHLY PEN SIO N S
at age 65 under normal retirement formula
including primary Social Security benefits

65

Monthly— $42. 50.

After 25 years of future service:
$ 1 4 1 .0 0

$ 1 5 1 .0 0

■ $ 1 5 1 .0 0

After 30 years of future service:
$ 1 4 1 .0 0
$ 1 5 1 .0 0
$151.00

Clothing Workers
National plan

Women only
62~]
*20
At worker's
request.

Normal benefit reduced
5 percent for each 6month period under
age 65, payable
immediately.

After 35 years of future service:
December 1957

Coat and suit industry,
women's, Industrial
Council of Cloak, Suit
and Skirt Manufacturers,
Inc., and other employers
(New York, N. Y. )

*15-17-00--------$ 1 3 1 7 0 0 "

Monthly— $65 ( $50 if not employed continuously last
lO years in New York coat and suit industry).

After 25 years of future service:

$ T3 "
r7 7 0

_ $ 1 6 3 ." 5 0 - -$ 1 7 3 .5 0 --------

After 30 years of future service:
— $"163. 50

’$ "1 7 3 .3 0 --------$ 1 7 3 .5 0 -

After 35 years of future service:
Ladies' Garment Workers
(New York Cloak Joint
Board)

— $ " 1 6 3 .5 0 " $ 1 7 3 .5 0 -------5 1 7 3 :5 0

January 1958

Dress industry, Affil­
iated Dress Manufac­
turers, Inc., and other
employers
(New York, N. Y. )
Ladies* Garment Workers
(New York Dress Joint
Board)

Monthly— $50.

After 25 years of future service:
$148.50 $158.50
$158'. 50
After 30 years of future service:
$ 148. §0 $158. 50
$158. 50
After 35 years of future service:

' $148.50

$158.5(5---- $133730"

January 1958

* 20 years of service in industry, including 10 years of service with contributing employers immediately preceding application for retirement.
2 20 years of service in industry, including service with contributing employers since May 1, 1950, (10 years with contributing employers immediately preceding application for retirement
after April 30, I960).
3 Same as footnote 2. Disability after age 60 is not a break in service and such service is credited to qualify for benefit.
4 Employment by employers under contract with Cloak Joint Board for 20 of 25 years immediately preceding retirement with last 10 years continuous (credit may be given for employment outside




13
UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Type, conditions,
Benefit formuin

Age

INVOLUNTARY
RETIR EM E N T

VESTIN G

Service

requirements

Benefit formula

Compulsory
at age -

Automatic
at age .

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Years)

120

_

M on th ly— $ 5 0 .

60

(3)

620

M on th ly— $ 6 5 . ( $ 5 0 if not em p loyed
continu ously la s t 10 y e a r s in New
Y o r k coat and su it in d u str y ).

5 60

8 20

M on th ly— $ 5 0 .

T r u ste e d ;
B ip a r tite .
se lfad m in iste r e d .
A fte r r e t ir e ­
m e n t; In­
su re d ,
in divid u al
annuity
ren ew ed
an n u ally.

T r u ste e d ;
B ip a rtite .
F u ll
se lfc o s t—
ad m in iste r e d .
2 .2 5
p ercen t
A f te r r e t i r e ­
of
m e n t: In­
gross
p a y r o ll. su r e d ,
in dividu al
annuity
ren ew ed
an n u ally.

N o r m a l b e n e fit, p ayab le a t age 65 .

5 60

F u ll
c o st ---3 .9 p e r­
cent of
gross
p a y r o ll.

F u ll
c o st—
5 p er­
cent of
w ee k ly
w ages.

$500

T r u ste e d ;
T r ip a r tite .
s e lfa d m in iste red .

T r u ste e d ;
T r ip a r tite .
F u ll
s e lfc o st---3 . 5 p e r - ad m in iste r e d .
cent o f
w e e k ly
w a g e s.

New Y o r k coat and su it in d u stry w h ere funds e x is t that p ay b en efits u nder IL.GWU c o n tr a c ts).
5
A g e 60 p rovid ed d isa b ility dates no e a r lie r than age 59 .
4
S am e a s footnote 4 , ex ce p t r e q u ir e m e n t o f 20 y e a r s o f s e r v ic e p r io r to d is a b ility .
7 E m p lo y m en t b y e m p lo y e r s u nd er c o n tra ct w ith D r e s s Joint B oard fo r 2 0 of 2 5 y e a r s im m e d ia te ly p r ec ed in g r e tir e m e n t w ith the la s t 10 y e a r s continuous (c re d it m a y be given fo r em p lo y m en t
ou tsid e New Y o r k d r e s s in d u stry w h ere fluids e x is t that pay b en efits under IL G W U c o n tr a c ts ).
8 S am e as footnote 7, ex ce p t re q u ir e m e n t of 2 0 y e a r s of s e r v ic e p r io r to d isa b ility .




14
SLCE PNI NPAS
EETD ESO LN
NORMAL R E TIR EM E N T
#
COMPANY, UNION, AND
D A T E O F INFORMATION

PA R T IC I­
PATION
R EQ U IR EMENTS

Minimum
requirements

(Y ea rs)

1 18

___

A ll.

Service

Age

M illin e r y in d u str y ,
E a s te r n W om en*s
H ea d w ear A s s o c ia tio n ,
In c. , and other
e m p lo y e r s
(New Y o r k ,
N. Y .)

Service
credited
nfter
norms 1
age

65

Benefit Consuls

M on th ly— $ 5 0 fo r o p e r a t o r s , c u t te r s , and b lo c k e r s ; $ 4 0 fo r
t r i m m e r s , s li c k e r s , s e a s o n a l s tra w o p e r a t o r s , and shipping
c le r k s .

Assuming average annual earnings of—
$3,600
$4,200
$5,000
and including present primary Social
Security benefits of—
$98.50
$108.50
$108.50

EA R LY R E TIR EM E N T
Minimum
requirements
Benefit formula
Age

Service
(Years)

A f te r 2 5 y e a r s of fu tu re s e r v ic e :
* $ 1 4 8 . 50
$ 1 5 8 . 50
$ 1 5 8 . 50
3 $ 1 3 8 .5 0
$ 1 4 8 . 50
$ 1 4 8 . 50
A f t e r 30 y e a r s o f fu tu re s e r v ic e :
2 $ 1 4 8 . 50
$ 1 5 8 . 50
$ 1 5 8 . 50
3 $ 1 3 8 . 50 4 1 4 8 . 5 0
$ 1 4 8 . 50

H a t te r s , C ap and
M illin e r y W o r k e r s

A fte r 35 y e a r s o f futu re s e r v ic e :
a $ 1 4 8 . 50
$ 1 5 8 . 50
$ 1 5 8 . 50
3 $ 1 3 8 . 50
$ 1 4 8 . 50
$ 1 4 8 . 50

M a r c h 1958

F u r m an u factu rin g in d u s­
t r y , A s s o c ia te d F u r
M a n u fa c tu r e r s , I n c .,
and other e m p lo y e r s
(New Y o r k , N . Y . )

ILL U ST R A T IV E MONTHLY PENSIO NS
at age 65 voider normal retirement formula
including primary Social Security benefits

_ ;
_

Me n
65

1

A ll.

M on th ly— $ 5 0 .

A fte r 2 5 y e a r s
—

4 30

of fu tu re s e r v ic e :
—

—

A fte r 30 y e a r s o f futu re s e r v ic e :
$ 1 4 8 .5 0
$ 1 5 8 . 50
$ 1 5 8 . 50
62

4 30
A fte r 35 y e a r s of future s e r v ic e :
$ 1 4 8 .5 0
$ 1 5 8 . 50
$ 1 5 8 . 50

M e a t C u tte rs (F u r r ie r s
Joint C ou n cil of
New Y o rk )
M a r c h 1 9 58

L u m b e r in d u stry ,
v a r io u s e m p lo y e r s
(Southern C a lifo r n ia )

___

65

55

A ll.

M on th ly— $ 3 . 333 tim e s y e a r s o f s e r v ic e to a m a x im u m of
30 y e a r s .

A f te r 2 5 y e a r s o f futu re s e r v ic e :
$ 1 8 1 .8 3
$ 1 9 1 .8 3
$ 1 9 1 .8 3

C a r p e n te r s

A fte r 30 y e a r s of futu re s e r v ic e :
$ 1 9 8 .5 0
$ 2 0 8 . 50
$ 2 0 8 . 50

O c to b e r 195 7

60

*5

A t w o r k e r 's
r e q u e st.

A fte r 35 y e a r s of fu tu re s e r v ic e :
$ 1 9 8 .5 0

$ 2 0 8 . 50

M on th ly— am ou n t in table
b elo w t im e s y e a r s of s e r v ­
ic e to a m a x im u m of
30 y e a r s .
A ge at
r e tir e m e n t
64
63
62

$ 2 0 8 . 50

61
60

W e y e r h a e u s e r T im b e r
C om p an y
W oo d w o rk ers
Janu ary 1958

___

8 65

10

N on e. 8 M on th ly— g r e a te r of: (1) 1 p e r c e n t of a v e r a g e m on th ly
ea rn in g s during 10 y e a r s im m e d ia te ly p r ec ed in g r e t i r e ­
m e n t tim e s y e a r s of s e r v ic e , le s s o n e -h a lf p r im a r y
S o c ia l S ec u rity b en efit, or (2) $ 1 .5 0 tim e s y e a r s of
s e r v ic e to a m a x im u m of 2 5 y e a r s .

A f te r 25 y e a r s of futu re s e r v ic e :
$ 1 3 6 . 00
$ 1 4 6 .0 0
$ 1 5 8 .4 2

92
0

60
or

A fte r 30 y e a r s of futu re s e r v ic e :
$ 1 5 9 .2 5
$ 1 7 9 .2 5
$ 1 3 9 .2 5
A fte r 35 y e a r s of futu re s e r v ic e :
$ 1 5 4 .2 5
$ 1 7 6 . 75
$ 2 0 0 . 08

55

9 30

N o r m a l b e n e fit red u ced
3 p e r c e n t fo r ea ch y e a r
u nder a g e 65 through 60 ,
7 p e r c e n t fo r ea ch y e a r
u nder a g e 60 through 5 5 ,
p ayab le im m e d ia te ly .
M in im u m m on th lv b en efit—

$0
1.

* 18 y e a r s o f union m e m b e r s h ip including 12 y e a r s in lo c a l unions of join t b oard im m e d ia te ly p r ec ed in g r e t ir e m e n t, and e m p lo y m en t by contribu ting e m p lo y e r s sin ce Jan. 1, 1 9 4 9 .
B lo c k e r s , c u tte r s, and o p e r a t o r s .
3 T r im m e r s , stra w o p e r a t o r s , s lic k e r s , and shipping c le r k s .
4 30 y e a r s of s e r v ic e (and union m e m b e r ) in in d u stry sin ce Jan. 1, 1 9 1 2 , in clu d ing 10 y e a r s im m e d ia te ly p r ec ed in g r e tir e m e n t, and em p lo y ed b y a contribu ting e m p lo y e r w ithin 3 y e a r s
p r e c e d in g r e t ir e m e n t.




M on th ly
$ 3 .0 6
2 . 82
2 . 60
2 .4 1
2 .2 3

15
U D R C LLE TIV B R A IN
N E O C E A G IN G
DISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Type, conditions,
Benefit formula

Age

INVOLUNTARY
RETIR EM EN T

VESTIN G

Service

requirements

Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Pmployee

ADMINISTRATION

Employer

(Y ea rs)

T r u s te e d ;
B ip a r tite .
F u ll
c o s t ---s e lfa d m in istered .
3 per­
cen t o f
total
w e e k ly
p a y r o ll.

T r u s te e d ;
B ip a r tite .
F u ll
s e lfc o s t ---2 .5 p e r ­ ad m in istered ,
cen t o f
w e e k ly
stra ig h ttim e
p a y r o ll.

Joint and
s u r v iv o r .

6 10

T r u s te e d ;
B ip a r tite .
F u ll
ban k c o s t ---$ 1 7 .3 0 a d m in is te r e d .
per
m onth
f o r f u ll ­
tim e
w ork ers,

M onthly— $ 2 .5 0 tim e s y e a r s o f
s e r v ic e ; m axim u m $ 5 0 .
A t a g e 65, n o r m a l b e n e fit p a y a b le .
(7)

Joint and
s u r v iv o r .
L e v e l in c o m e
(E a r ly ).

10

M onthly— g r e a te r o f: ( l ) 1 p e r c e n t
o f a v e r a g e m on th ly ea rn in g s during
10 y e a r s im m e d ia te ly p r e c e d in g r e - ,
tir e m e n t tim e s y e a r s o f s e r v ic e ,
l e s s o n e -h a lf S o c ia l S e c u r ity d is ­
a b ility b e n e fit (o n e -h a lf e s tim a te d
p r im a r y S o c ia l S e c u r ity b e n e fit), o r
(2) $ 1 .5 0 tim es y e a r s o f s e r v ic e to
a m axim u m o f 25 y e a r s . Both r e ­
duced 3 p e r c e n t f o r e a ch y e a r under
a ge 65 through 60, 7 p e r c e n t f o r e a ch
y e a r under age 60 through 55, and
a c tu a r ia lly fo r y e a r s tinder age 55,
paya ble im m e d ia te ly .

8 65

70

F u ll
cost.

T r u s te e d ;
E m p lo y e r .
ban k a d m in is te r e d .

M in im um m on th ly b e n e fit— $ 1 0 .

5 5 y e a r s o f s e r v ic e in in d u stry in clu d in g 1 y e a r w ith a co n trib u tin g e m p lo y e r im m e d ia te ly p r e c e d in g r e tir e m e n t.
6 10 y e a r s o f s e r v ic e in in d u stry in clu d in g 1 y e a r w ith a co n trib u tin g e m p lo y e r im m e d ia te ly p r e c e d in g r e t ir e m e n t .
7 F o r w o r k e r s d is a b le d a fte r A p r il 30, 1958.
8 If e m p lo y e d on June 1, 1957, and age 55 through 59, n o r m a l r e t ir e m e n t date is la s t day o f m onth in 1967 in w h ich w o r k e r 's b irth d a y o c c u r s .
n o r m a l r e t ir e m e n t date is la s t day o f m onth in w h ich w o r k e r attain s a ge 70 o r June 30, 1957, w h ic h e v e r is la t e r .
9 T erm in a te d f o r any r e a s o n .
10 A t e m p lo y e r 's r e q u e s t b e c a u s e o f w o r k e r 's p h y s ic a l in a b ility to s a t is f a c t o r ily p e r f o r m duties a s s ig n e d h im .




If e m p lo y e d on June 1, 1957, and a g e 60 o r o ld e r ,

16
SE C D P N IO P A S
LE TE E S N L N
IL L U S T R A T IV E MONTHLY PEN SIO N S
NORMAL R E TIR EM E N T

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
D A TE O F INFORMATION

P A R T IC I­
PATION
RE Q U IR E­
MENTS

Minimun
requirements
Age

65

F u rn itu re in d u s try ,
v a r io u s e m p lo y e r s

Service
(Y ea rs)

Service
credited
after
lormal

\ssliming average annual earnings of—
$3,600
' $4,200
$5,000
and including present primary Social
Security benefits of—
$98.50
$108.50
$108.50

Benefit formal*

®e
8

1
20

Minimum
requirements
Benefit formula
Service
(Y ea rs)

55

M o n th ly — $ 2 5 .
$ 1 2 3 . 50

$ 1 3 3 . 50

$ 1 3 3 . 50

F u rn itu re W o r k e r s
N ational plan

A ft e r 30 y e a r s o f futurei s e r v ic e :
$ 1 2 3 .5 0
$ 1 3 3 .5 0
$ 1 3 3 . 50

Jan u ary 1958

A t w o r k e r 's
r e q u e s t.

A c tu a r ia l equ ivalen t o f
n o r m a l b e n e fit, p aya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, pa y a b le a t a g e 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 3 3 . 50
$ i 2 3 . 50
$ 1 3 3 .5 0

U p h ols terin g and a llie d
tr a d e s in d u s tr ie s ,
v a r io u s e m p lo y e r s

65

(2)

To
a ge
70. 3

U p h o ls te r e r s
N ational plan

M on th ly— 4/ 10 o f 1 p e r c e n t o f a v e r a g e m o n th ly e a r n in g s 4
tim e s y e a r s o f s e r v ic e to a m axim u m o f 25 y e a r s ; and 8/io
o f 1 p e r c e n t o f a v e r a g e m o n th ly e a rn in g s tim e s y e a r s o f
s e r v ic e (not m o r e than 3 y e a r s ) e x c e e d in g 25 y e a r s a c c r u e d
a ft e r a g e 65.

A f t e r 25 yea r s o f fu tu re s e r v ic e :
$ 1 2 8 . 50
$ 1 4 3 . 50
$ 1 5 0 . 17
A ft e r 30 y e a r s o f fu tu re s e r v ic e :

V$'I2T."5t— $T43.30----- $TTOTT?
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
5 $ 128. 50
$ 1 4 3 .5 0
$ 1 5 0 .1 7

N o v e m b e r 1957

R o b e rt G a ir C om pa n y, Inc. A g e 30
(D iv is io n o f C on tinental
and
2 years
Can C om pa n y, I n c . )
of
P a p e r m a k e r s and P a p e r s e r v ic e .
w o r k e r s ; P u lp, Sulphite
and P a p e r M ill W o r k e r s

65

M onthly b e n e fit f o r A ft e r 25 y e a r s o f fu tu re s e r v ic e :
e a ch y e a r o f s e r v ic e ?
$ 1 4 8 .5 0
$ 1 7 1 .0 0
$ 1 8 9 .7 5

N one.
A nnual ^ a r n in g s
$ 3 , 750
$ 4 , 050
$ 4 , 350
$ 4 , 650
$ 4 ,9 5 0

and
and
and
and
and

un d er
u nd er
un d er
un d er
u n d er

------- $2.00--------$ 4 ,0 5 0
$ 4 , 350
$ 4 , 650
$ 4 , 950
$ 5 ,2 5 0

---------------------------------------------------------------------------------------------------------------

2 .2 5
2 .5 0
2. 75
3. 00
3 .2 5

O cto b e r 195 7

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 5 8 .5 0
$ 1 8 3 .5 0
$ 2 0 6 .0 0

—

—

W ith e m p lo y e r 's c on sen t.

A c t u a r ia l equ ivalen t o f
n o r m a l b e n e fit, p a ya b le
im m e d ia te ly ,

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 6 8 .5 0
$ 1 9 6 .0 0
$ 2 2 2 .2 5

-------------------and up in in c re m e n ts o f—
$300

0 .2 5

Up to $ 8 , 1 0 0 9

In tern ation al P a p e r
C om pa n y
P a p e r m a k e r s and P a p e r w o r k e r s ; P u lp, Sulphite
and P a p e r M ill W o r k e r s
O cto b e r 195 7

3 years
of
s e r v ic e .

65

N one.

Y e a r ly — f o r s e r v ic e a ft e r D e c . 31, 1944, 3/* o f 1 p e r c e n t o f
f i r s t $ 3 , 000 o f annual e a rn in g s and 1 .5 p e r c e n t o f e a rn in gs
e x c e e d in g $ 3 ,0 0 0 f o r e a c h y e a r o f s e r v i c e ; 8 f o r s e r v ic e
p r i o r to Jan. 1, 1945 (a fte r 5 y e a r s o f s e r v ic e and a ge 30),
Va o f 1 p e r c e n t o f f i r s t $ 3 , 000 o f annual e a rn in g s on Jan. 1,
1945, and 1 p e r c e n t o f e a rn in g s e x c e e d in g $ 3 , 000 tim e s
y e a r s o f s u ch s e r v ic e .

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 6 4 .1 3
$ 1 9 2 .8 8
$ 2 1 7 .8 8
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 2 0 9 . 75
$ 2 3 9 .7 5

55

1 20
0

W ith e m p lo y ­
e r 's c o n s e n t
o r at e m p lo y ­
e r 's r e q u e s t.

A c t u a r ia l equ iva len t o f
n o r m a l b e n e fit, jpayable
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a y a b le at age 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 9 0 .3 8
$ 2 2 6 .6 3
$ 2 6 1 .6 3

1 20 y e a r s o f s e r v ic e in in d u s try in clu d in g 3 y e a r s w ith co n trib u tin g e m p lo y e r s . S e r v ic e in clu d e s ( l ) e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s a ft e r D e c . 31, 1952, and (2) e m p loy m en t in in d u s try
p r i o r to date con trib u tio n s w e r e m ad e f o r w o r k e r i f s u ch co n trib u tio n s b e g in p r i o r to Jan. 1, I9 6 0 . W o r k e r s e n te rin g in d u s try a ft e r D e c . 31, 1959, m u st have 25 y e a r s o f e m p lo y m e n t w ith con trib u tin g
e m p lo y e r s .
6
If hirecl a fte r date e m p lo y e r w as o b lig a te d to co n trib u te to plan: 25 y e a r s o f s e r v ic e in clu d in g 5 y e a r s w ith co n trib u tin g e m p lo y e r s im m e d ia te ly p r e c e d in g r e t ir e m e n t .
If e m p lo y e d on date e m p lo y e r w as o b lig a te d to co n trib u te to plan: 5 y e a r s o f s e r v ic e w ith co n trib u tin g e m p lo y e r s im m e d ia te ly p r e c e d in g r e t ir e m e n t . A w o r k e r r e t ir in g w ith 1 o r
m o r e but le s s than 5 y e a r s w ith co n trib u tin g e m p lo y e r s im m e d ia te ly p r e c e d in g r e t ir e m e n t r e c e iv e s an am ount as co m p u te d in b e n e fit fo rm u la t im e s r a t io o f n u m b er o f y e a r s o f e m p loy m en t w ith c o n t r i­
buting e m p lo y e r s to 5 y e a r s .
S e r v ic e in clu d e s ( l ) e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s , and (2) e m p lo y m e n t p r io r to date e m p lo y e r b e c a m e o b lig a te d to co n trib u te to p lan i f e m p lo y e d on s u ch date.
A w o r k e r e m p lo y e d on date e m p lo y e r b e ga n co n trib u tin g to the fund a c c u m u la te s s e r v ic e c r e d it s to a m a xim u m o f 5 y e a r s r e g a r d le s s o f a g e .
4 E a rn in g s f o r p ast s e r v ic e (s e e (2) o f fo o tn o te 2) is defin ed as g r e a t e r o f: ( l ) a v e r a g e annual e a rn in g s d uring 1 9 5 0 -5 2 , o r (2) $ 2 , 500.




17
U D R C LLE TIV B R A IN
N E O C E A G IN G
D ISA BILITY RETIR EM E N T
NORMAL
AND E A R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Type, conditions,
Benefit formula

Age

INVOLUNTARY
RE TIR EM E N T

VESTIN G

Service

and minimum
requirements

Benefit formula

Compulsory
at age •

Automatic
at age -

DEATH BlE N E F IT S

Before
retirement

After
retirement

FINANC: in g
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y e a rs )

F u ll
c o s t ---2 p er­
cen t o f
gross
w ages.

50

Join t and
s u r v iv o r .
P e r io d
c e r ta in .

8 15

A c tu a r ia l e qu ivalen t o f n o r m a l "bene­
fit, p a ya b le im m e d ia te ly .

(7 )

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .

N o rm a l b e n e fit,
p aya ble at
age 65.

65

F u ll
c o s t ---2 p er­
cen t o f
total
w ages.

(7 )

10 y e a r s o f s e r v ic e . 8
c a s h re fu n d .

Level
in c o m e
(E a r ly ).

A c tu a r ia l e qu ivalen t o f n o r m a l b e n e ­ D e fe r r e d fu ll.
fit, paya ble im m e d ia te ly . If w o rk e r
has 25 o r m o r e y e a r s o f s e r v ic e , 10
T e rm in a te d f o r any
n o r m a l b e n e fit, paya ble
reason .
im m e d ia te ly .
A g e 50 and 25 y e a r s
o f s e r v i c e . 10

N o rm a l b e n e fit,
p aya ble at
age 65.

65

W orker’ s
co n trib u tio n s
plus
in t e r e s t .

B ip a r tite .
T r u s te e d ;
bankadm in istered.

B a la n ce
M onthly
o f co st.
c o n t r i­
bu tion
equal to
tw ice
m on th ly
b e n e fit
am ount
(s e e
norm al
b e n e fit
fo rm u la
colu m n ). 9

W orker’ s
co n trib u tio n s
plus
in t e r e s t .

M o d ified

Joint and
s u r v iv o r .

T r u s te e d ;
B ip a r tite .
s e lfa d m in is te r e d

W ork er’ s
con trib u tion s
plus
in t e r e s t , le s s
b e n e fits
r e c e iv e d .

In su red ;
grou p
annuity.

E m p lo y e r .

2 .2 5 p e r ­ B a la n ce
o f cost.
cen t o f
fir s t
$ 3 , 000 o f
annual
ea rn in gs
and 4. 5
percen t
o f earn ­
ings e x ­
cee d in g
$ 3 , 000.

T ru s te e d ;
E m p lo y e r .
ban kadm in istered.

5 A d d ition al b e n e fit if w o r k e r r e c e iv e s s e r v ic e c r e d it a fte r age 65 and 25 y e a r s o f s e r v ic e (s e e n o r m a l r e t ir e m e n t b e n e fit fo r m u la ).
6 15 y e a r s o f s e r v ic e in in d u stry in clu d in g 5 y e a r s w ith co n trib u tin g e m p lo y e r s im m e d ia te ly p r e c e d in g r e t ir e m e n t .
A w o r k e r e lig ib le f o r a p en sion m u st r e t ir e at a ge 68. A w o r k e r not e lig ib le at age 68 m a y w o rk until a ge 70. If e m p lo y e d on date e m p lo y e r b eg a n con trib u tin g to the fund, w o r k e r m a y re q u e s t
e x ten sion o f e m p lo y m e n t f o r 5 y e a r s r e g a r d le s s o f a g e .
8 E x clu d es p r e m e m b e r s h ip s e r v ic e .
9 A t $ 8 , 100, the in c re m e n ts a r e in c r e a s e d to $600 and $ 0 .5 0 r e s p e c t iv e ly , but the rate o f w o r k e r ’ s co n trib u tio n in c r e a s e s .
10 Inclu des p r e m e m b e r s h ip s e r v ic e .




18
SE C D P N IO P A S
LE TE E S N L N
ILL U ST R A T IV E MONTHLY PENSIO NS
a t a g e 6 5 u n d e r na rm ed r e t i r e m e n t fo r m u la

NORMAL R E TIR EM E N T

EA R LY RETIR EM E N T

i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
D A T E O F INFORMATION

P A R T IC I­
PATION
RE Q U IR E­
MENTS

Minimum
requirements
Age

Service
(Y ea rs)

Service
credited
after
normal
age

\ssuming average annual earnings of—
83,600
84,200
85,000
and including present primary Social
Security benefits of—
898.50
8108.50
8108.50

Benefit formula

Minimum
requirements
Benefit formula
Age

Service
(Y ea rs)

N o n c o n trib u to r y plan

W est V ir g in ia P u lp and
P a p e r C om pa n y
P a p e r m a k e r s and P a p e r - A g e 25
w o r k e r s ; P u lp, Sulphite and
and P a p e r M ill W o r k e r s 1 y e a r of
s e r v ic e .
O cto b e r 1957

65

_

N one.

M onthly— $ 1 .5 0 tim e s y e a r s o f s e r v i c e . 1

A ft e r 25 y e a r s o f futu re s e r v ic e :
$ 1 3 6 .0 0
$ 1 4 6 .0 0
$ 1 4 6 .0 0

(*)
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 4 3 .5 0
$ 1 5 3 .5 0
$ 1 5 3 .5 0

55

_
_

W ith e m p lo y e r 's < sen t.
:on

N o rm a l b e n e fit r e d u c e d 1/»
o f 1 p e r c e n t f o r e a c h m onth
under a ge 65 to date b e n e ­
fit b e g in s , p a ya b le an ytim e
p r i o r to a ge 65; o r n o r m a l
b e n e fit, pa ya b le at a g e 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 5 1 .0 0
$ 1 6 1 .0 0
$ 1 6 1 .0 0

O ptional c o n tr ib u to r y plan
Sam e as
above.

M on th ly— f o r s e r v ic e a ft e r M a r . 31, 1954, $ 2 .5 0 tim e s
y e a r s o f s e r v ic e , 1 and 1 .2 5 p e r c e n t o f m on th ly e a rn in g s e x ­
c e e d in g $30 0 f o r e a ch y e a r o f s e r v i c e ; 1 f o r s e r v ic e p r i o r to
A p r . 1, 1954, $ 1 .5 0 tim e s y e a r s o f s e r v ic e (a fte r a ge 2 5 ).

Sam e as a b o v e .

(*)

P rin tin g in d u s try , E m ­
p loy in g L ith o g ra p h e rs
A s s o c ia t io n o f San
F r a n c is c o , and oth er
e m p lo y e r s
L ith o g r a p h e r s , L o c a l 17
D e c e m b e r 1957

1 year of
s e r v ic e .

A ll.

M onthly— f o r s e r v ic e a fte r June 30, 1950, 1. 6 p e r c e n t o f
total co n trib u tio n s m ad e in w o r k e r 's b e h a lf.

A fte r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 6 1 .0 0
$ 1 8 6 .6 3
$ 2 0 7 .4 6

Sam e as a b o v e . Sam e as a b o v e .

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 .5 0
$ 2 0 2 .2 5
$ 2 2 7 .2 5
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 8 6 .0 0
$ 2 1 7 .8 8
$ 2 4 7 .0 4

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 4 1 .7 0
$ 1 5 8 .9 0
$ 1 6 8 .5 0

F o r s e r v ic e p r io r to July 1, 1950, and a ft e r D e c . 31, 193 6:1 A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$2 f o r e a ch y e a r o f su ch s e r v ic e on and a fte r a ge 55, and
$ 1 5 0 .3 4
$ 1 6 8 .9 8
$ 1 8 0 .5 0
1 .8 7 2 p e r c e n t o f w e e k ly w age as o f July 1, 1950, f o r ea ch
y e a r o f s u ch s e r v ic e p r i o r to a g e 55, e a ch c a lcu la tio n
y e a r s o f fu tu re s e r v ic e :
m u ltip lie d b y 1 .3 3 3 . P r o v id e d , h o w e v e r , that the b e n e fit
$ 1 5 8 .9 8
$ 1 7 9 .0 6
$ 1 9 2 .5 0
f o r any y e a r p r io r to a ge 55 s h a ll not e x c e e d ( l . 333 t im e s )
(1) $ 1 .5 0 m on th ly f o r e a c h y e a r o f s e r v ic e a ft e r attaining
a g e 45, (2) $1 m o n th ly f o r e a c h y e a r o f s e r v ic e a fte r
attainin g a g e 35 and p r i o r to a g e 45, and (3) $ 0 . 50 m on th ly
f o r e a ch y e a r o f s e r v ic e p r i o r to age 35.

A t w o r k e r 's
req u est.

A c t u a r ia l equ iva len t o f
n o r m a l b e n e fit, pa y a b le
im m e d ia te ly ; o r n o r m a l
b e n e fit, pa y a b le at a ge 65.

1 E x clu d e s p r e m e m b e r s h ip s e r v ic e .
a A w o r k e r who w as a m e m b e r o f the c o n tr ib u to r y plan fr o m June 1, 1948, to June 1, 1950, r e c e iv e s an a d d itio n a l $1 m on th ly f o r ea ch y e a r o f su ch s e r v ic e .
3 W o r k e r a g e 60 to 65 on M a r . 31, 1954, m u s t r e t ir e at a ge 70, a ge 59 at a ge 69, a ge 58 at age 68, a ge 57 at a g e 67, age 56 at a g e 66, voider a g e 56 at a ge 65.
4 10 y e a r s o f s e r v ic e in c r a ft . S e r v ic e in clu d e s ( l ) e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s a ft e r June 30, 1950, (e x c lu d e s p r e m e m b e r s h ip s e r v ic e ) , and (2) e m p lo y m e n t in c r a ft fr o m Jan.
193 7, throu gh June 30, 1950, (w o r k e r m u st be q u a lifie d a s a m e m b e r on July 1,1950, to r e c e iv e c r e d it f o r p a st s e r v ic e ) .




19
U D R C LLE TIV B R A IN
N E O C E A G IN G
D ISA BILITY RETIR EM E N T
NORMAL
AND E A R LY
RETIR EM E N T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

INVOLUNTARY
RE TIR EM E N T

VESTIN G

Type, conditions,
and minimum
requirements

DEATH B E N E F IT S

FINAN<SING
MEDIUM
O F FUNDING

Benefit formula

Compulsory
at age -

Automatic
at age -

Before
retirement

After
retirement

Fmployee

ADMINISTRATION

Employer

(Y ea rs)

N o n co n trib u to ry plan

Joint and
s u r v iv o r .

55

N o rm a l b e n e fit, p a ya b le im m e d ia te ly . D e fe r r e d fu ll.
A t a g e 65, n o r m a l b e n e fit re d u c e d */a T e rm in a te d f o r any
o f 1 p e r c e n t f o r e a ch m onth under
rea son .
ag e 65 on date o f d is a b ility
r e t ir e m e n t .
A g e 50 and 20 y e a r s
of s e r v ic e .1

L evel
in c o m e
(E a r ly ).

N o rm a l b e n e fit
re d u c e d */a o f
1 p ercen t fo r
e a ch m onth under
age 65 to date
b e n e fit b e g in s ,
p a ya b le an ytim e
du rin g 1 0 -y e a r
p e r io d p r i o r to
a ge 65; o r
n o r m a l b e n e fit,
p a ya b le at
age 65.

3 65

3 65

F u ll
co st.

T r u s te e d ;
E m p lo y e r .
banka d m in istered .

O ptional c o n tr ib u to r y plan
-------------------

Sam e as
above.

------- f
Sam e as
abo^ r e .

Sam e as a b o v e .

Sam e as at>ove.

D e fe r r e d fu ll.
T e r m in a te d f o r any
reason.
10 y e a r s o f s e r v i c e , 4
a ft e r June 30, 1 9 5 0 .5

A c t u a r ia l e q u iv ­
a le n t o f n o r m a l
b e n e fit, paya ble
a n ytim e during
1 0 -y e a r p e r io d
p r io r to age 65;
or n orm al b en e­
fit , pa ya b le at
age 65.

1

Sam e as a b o v e .

W ork er’ s
W orker’ s
co n trib u tio n s con trib u tion s
plus in t e r e s t plus in t e r e s t ,
le s s b e n e fits
r e c e iv e d that
w e re p aid f o r
by w ork er’ s
c o n t r ib u tio n s .

$ 4 . 50 f o r B a la n ce
o f cost.
fir s t
$ 30 0 o f
m on th ly
e a rn in g s
and
2 .5 p e r ­
cen t o f
e a rn in g s
exceed­
ing $3 0 0 .

Sam e as
above.

Sam e as a b o v e .

B ip a r tite .
T r u s te e d ;
F u ll
ban k c o s t ---3 p er­
adm in istered.
cen t o f
b a s ic
w e e k ly
w age o f
each
m e m b e r.

5 A w o r k e r te rm in a te d w ith 2 o r m o r e y e a r s o f s e r v ic e w ith co n trib u tin g e m p lo y e r s a ft e r June 30, 1950, w ho r e m a in s in c r a ft (e m p lo y e d b y n on con trib u tin g e m p lo y e r s ) f o r a total o f 10 y e a r s ,
w ill b e en titled to a n o r m a l b e n e fit (b a se d on s e r v ic e w ith co n trib u tin g e m p lo y e r s ) at a ge 65.




20
SE C D P N IO P A S
LE TE E S N L N
ILL U S T R A T IV E MONTHLY PEN SIO N S
NORMAL R E TIR EM E N T

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
D ATE O F INFORMATION

PA R T IC I­
PATION
REQ U IR E­
MENTS

Minimum
requirements
Age

Service

Service
credited
after
norma!

Assuming average annua! earnings of—
S3,600
84,200
85.000
and including present primary Social
Security benefits of—
896.50
8108.50
8108.50

Benefit formula

(Y ea rs)

P u b lis h e r s 1 A s s o c ia t io n
o f New Y o r k C ity

A ll.

M on th ly— $40 .

Minimum
requirements
Benefit formula
Service

Age

(Y e a rs )

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 3 3 .5 0
$ 1 4 3 .5 0
$ 1 4 3 .5 0

T yp ograp h ers, L oca l 6

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 3 3 .5 0
$ 1 4 3 .5 0
$ 1 4 3 .5 0

O cto b e r 195 7

A ft e r 35 y e a r s o f fu tu re s e r v ic e ;
$ 1 3 3 .5 0
$ 1 4 3 .5 0
$ 1 4 3 .5 0

N ote:

N o n c o n trib u to r y plan

The N ew Y o r k T im e s
C om pa n y
N ew sp ap er G uild
Ja n u a ry 1958

N o rm a l r e t ir e m e n t at
a ge 70.

A g e 35
and
5 years
of se rv ­
ic e , o r
if h ir e d
afte r
a ge 45,
age 50
and o n e h a lf y e a r
of
s e r v ic e .

_

65

To
age
70.

M onthly— f o r s e r v ic e a ft e r M a r . 31, 1947, 1 p e r c e n t o f
a v e r a g e m on th ly e a rn in g s f o r e a ch y e a r o f s e r v ic e ; * f o r
s e r v ic e p r i o r to A p r. 1, 1947, V* o f 1 p e r c e n t (l p e r c e n t if
b o r n p r i o r to A p r . 1, 1897) o f a v e r a g e m o n th ly e a rn in gs
during 10 y e a r s im m e d ia te ly p r e c e d in g A p r . 1, 1947, tim e s
y e a r s o f su ch s e r v i c e . *

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 .5 0
$ 1 9 6 .0 0
$ 2 1 2 .6 7
A fte r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 8 8 .5 0
$ 2 1 3 .5 0
$ 2 3 3 .5 0

60

1

3 15

A t w o r k e r 's
r e q u e s t.

A c tu a r ia l equ ivalen t o f
n o r m a l b e n e fit, paya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a y a b le at a ge 65.

A fte r 35 y e a r s o f fu tu re s e r v ic e ;
$ 2 0 3 .5 0
$ 2 3 1 .0 0
$ 2 5 4 .3 3

S u p plem en tal c o n tr ib u to r y plan

T

|
S am e as
above.

S a m e a s a b o v e . Sam e
M onthly— f o r s e r v ic e a ft e r D e c . 31, 1954, 1 p e r c e n t o f
as
m on th ly ea rn in g s e x c e e d in g am ount s u b je c t to S o c ia l
a b o v e . S e c u r ity tax (c u r r e n t ly $ 4 ,2 0 0 ) f o r e a c h y e a r o f s e r v ic e ; a
f o r s e r v ic e p r i o r to Jan. 1, 1955, (m e m b e r s o f o ld plan )
1 p e r c e n t o f m on th ly e a rn in g s e x c e e d in g $ 25 0 f o r e a c h y e a r
o f su ch s e r v i c e . *

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
—
—
$ 1 6 .6 7

S am e a a a b o v e .

S am e a s a b o v e .

A fte r 30 y e a r s o f fu tu re s e r v i c e :

—

—

$20.00

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
—
—
$ 2 3 .3 3

20 y e a r s o f s e r v ic e in the tra d e , in clu d in g 10 y e a r s o f s e r v ic e w ith co n trib u tin g e m p lo y e r s , and e m p lo y e d b y a co n trib u tin g e m p lo y e r f o r 1 y e a r im m e d ia te ly p r e c e d in g r e t ir e m e n t .
E x clu d e s p r e m e m b e r s h ip s e r v ic e .
In clu d es p r e m e m b e r s h ip s e r v ic e .




21
U D R C LLE TIV B R A IN
N E O C E A G IN G
DISABILITY RETIREMENT
NORMAL
AND EARLY
RETIREMENT
BENEFIT
OPTIONS

Minimum
requirements
Benefit formula
Age

60

Service

INVOLUNTARY
RETIREMENT

VESTING

Type, conditions,
and minimum
requirements

DEATH BENEFITS

FINANCING
MEDIUM
OF FUNDING

Benefit formula

Compulsory
at age -

Automatic
at age -

Before
retirement

After
retirement

Fmployee

ADMINISTRATION

Employer

(Y e a rs )

1 20

B ip a r tite .
T r u s te e d ;
F u lls e lfco st—
a d m in istered .
$ 0 .4 0
per
sh ift
fo r
jo u rn e y ­
m en
and a
propor­
tion ate
sh are of
$ 0 .4 0
per
sh ift
w o rk e d
by
a p p re n ­
t ic e s .

M onthly— $ 4 0 .

N o n co n trib u to ry plan
Joint and
s u r v iv o r .

50

A c tu a r ia l equ ivalen t o f n o r m a l b e n e ­
fit , paya ble im m e d ia te ly .

D e fe r r e d fu ll.
T e r m in a te d f o r any
rea son .

Level
in c o m e
(E a r ly ).

A g e 60 and 15 y e a r s
of s e r v ic e .3

A c t u a r ia l e q u iv ­
a len t o f n o r m a l
b e n e fit, paya ble
an ytim e during
5 -y e a r p e r io d
p r i o r to a ge 65;
o r n orm al b en e­
fit, p a ya b le at
age 65.

F u ll
cost.

(4)

In su red ;
group
annuity.

E m p lo y e r .

Sam e as
above.

Sam e as a b o v e .

O ptional con t r ib u t o r y plan

S am e as
above.

1
Sar ne a s
abc >ve.

Sam e as a b o v e .

1
Sam e as a t love.

A g e 75 p r io r to M a r. 1, 1963, r e d u c e d on y e a r ly b a s is th e r e a fte r to age 70 a ft e r F e b . 28, 1967.




1
Sam e as a b ov e.

W ork er’ s
W orker’ s
co n trib u tio n s con trib u tion s
plus in t e r e s t . plus in t e r e s t ,
l e s s b e n e fits
r e c e iv e d .

5 p e r c e n t B a la n ce
o f cost.
o f earn ­
ings e x ­
c ee d in g
am ount
s u b je c t
to
S o c ia l
S e c u r ity
tax ( c u r ­
r e n tly
$ 4 ,2 0 0 ) .

22
SE C D P N IO P A S
LE TE E S N L N
ILL U S T R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

EA R LY RE TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
DATE O F INFORMATION

PA R T IC I­
PATION
REQ U IR EMENTS

Minimum
requirements
Service

Age

L e v e r B r o th e r s C om pa n y
C h e m ic a l W o r k e r s ; O il,
C h e m ic a l and A to m ic
W orkers

A g e 35
and
1 year of
s e r v ic e .

(Y ea rs)

65

Service
credited
after
normal
age

N one.

\ssuming average annual earnings of—
S3,600
S4.200
S5.000
and including present primary Social
Security benefits of—
*96.50
S 108.50
S108.50

Benefit formula

Y e a r ly —^ /z o f 1 p e r c e n t o f annual e arn in gs 1 f o r ea ch y e a r o f
s e r v i c e * fr o m a ge 35 to a ge 45 and 1 p e r c e n t o f ea rn in gs
fr o m age 45 to a g e 65, plus */z o f annual e a rn in gs e x c e e d in g
$ 3 , 600 f o r ea ch y e a r o f s e r v ic e fr o m age 35 to a ge 65.

A ft e r 2 5 y e a r s o f futu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 9 3 .5 0
$ 2 1 6 .8 3

Minimum
requirements
Benefit formula
Service

Age

(Y ea rs)

3 5

55
0>r

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
T l 7 j; 50— $ 2 6 5 . 50------- $ 2 T 0 7 T T

|

3 30

A c tu a r ia l equ iva len t o f
n o r m a l b e n e fit, p a ya b le
a n ytim e p r io r to age 65;
o r n o r m a l b en efit, p aya ble
at age 65.

A ft e r 35 y e a r s o f futu re s e r v ic e : A t wo: r k e r 's o r
e m p lo y e r 's
$ 1 7 3 .5 0
$ 2 0 3 .5 0
$ 2 3 0 .1 7
requei st.

D e c e m b e r 1957

1
M on san to C h e m ic a l
C om pa n y
C h e m ic a l W o r k e r s

N o n c o n trib u to r y plan
_

10

65

N one.

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e .

55

j

10

A t w o r k e r 's
A ft e r 30 y e a r s o f fu tu re s e r v ic e : r e q u e s t.
1
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0
or

F e b r u a r y 1958

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

N o rm a l b e n e fit r e d u c e d 1 / z
o f 1 p e r c e n t f o r ea ch
m onth u nd er age 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, p aya ble at
a ge 65.

55 |
10
N o rm a l b e n e fit re d u c e d V4
o f 1 p e r c e n t f o r ea ch m onth
A t op tion o f
u nd er age 65, p a y a b le i m ­
e m p lo y e r und er m e d ia te ly ; o r n o r m a l b e n e ­
m u tu a lly s a t ­
f i t , pa ya b le at a g e 65.
i s fa c t o r y
c o n d it io n s .
_______1

S u p plem en tal c o n tr ib u to r y plan
A g e 30
and
1 year of
s e r v ic e ,
or
3 y e a r s of
s e r v ic e .

65

Sam e
as
above.

M onthly— Via o f 1 .5 p e r c e n t o f annual ea rn in gs e x c e e d in g
$ 3 , 600 f o r e a ch y e a r o f s e r v i c e . *

A ft e r 25
—

y e a r s o f fu tu re s e r v ic e :
$ 1 8 . 75
$ 4 3 . 75

55

3 10

A t w o r k e r 's
A fte r 30 y e a r s o f fu tu re s e r v ic e : r e q u e s t.
$ 2 2 .5 0
$ 5 2 . 50
—
or
A fte r 35 y e a r s o f fu tu re s e r v ic e :
55 j
3 10
$ 2 6 .2 5
$ 6 1 .2 5
—
W ith e m p lo y ­
e r 's co n s e n t
o r at e m p lo y ­
e r 's op tion
u n d er m u tu ­
a lly s a t i s f a c ­
t o r y conditions.

U nion C a rb id e
C o r p o r a t io n

10

65
or

V a rio u s unions
60
F e b r u a r y 1958

30

A ll,

M onthly— 1. 1 p e r c e n t o f a v e r a g e m on th ly e a rn in g s during
120 ca le n d a r m onths im m e d ia t e ly p r e c e d in g r e t ir e m e n t
tim e s y e a r s o f s e r v ic e .

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 8 1 .0 0
$ 2 0 4 .7 5
$ 2 2 3 .0 8

A ft e r 35 y e a r s o f fu tu re s e r v ic e :

$23572!)----- $268791

1 F o r s e r v ic e p r io r to Jan. 1, 1951, annual e a rn in gs a r e the g r e a t e r o f, ( l ) r e g u la r w age as o f Jan. 2, 1951, a d ju ste d to annual b a s i s , o r (2) annual ea rn in gs in 1950.
* E x clu d e s p r e m e m b e r s h ip s e r v ic e .
3 In clu d es p r e m e m b e r s h ip s e r v ic e .




N o rm a l b en efit re d u c e d V4
o f 1 p e r c e n t f o r e a c h m onth
:under age 65, p aya ble i m ­
m e d ia te ly ; o r n o r m a l b e n e ­
fit, paya ble at age 65.

S ee n o r m a l r e t ir e m e n t .

A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 9 7 .5 0
$ 2 2 4 .0 0
$ 2 4 5 .9 9

$2TCTT)

A c t u a r ia l equ iva len t o f
n o r m a l b e n e fit, p aya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a ya b le at a ge 65.

23
U D R C LLE TIV B R A IN
N E O C E A G IN G
D ISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
R E TIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

INVOLUNTARY
RETIR EM E N T

VESTIN G

Type, conditions,
and minimum
requirements

Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Pmployee

ADMINISTRATION

Employer

(Y e a rs )

A c t u a r ia l equ ivalen t o f n o r m a l b e n e ­
fit, pa ya b le an ytim e p r i o r to age 65;
o r n o r m a l b e n e fit, paya ble at age 65.

Joint and
su r v iv o r .
L e v e l in ­
com e
(E a r ly ).

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .
15 y e a r s o f v e s tin g
s e r v ic e . 4

A c tu a r ia l e q u iv ­
alent o f n o r m a l
b e n e fit, paya ble
a n ytim e during
1 0 -y e a r p e r io d
p r io r to a ge 65;
or n orm al b en e­
fit, p a ya b le at
age 65.

F u ll
cost.

65

T r u s te e d ;
E m p lo y e r .
ban k a d m in is tered

N o n co n trib u to ry plan

Sam e as
above.

See e a r ly r e t ir e m e n t and v estin g
p r o v i s io n s .

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .
10 y e a r s o f s e r v ic e . 3

15

M onthly— g r e a t e r o f: ( l ) 1 .1 p e r c e n t
o f a v e r a g e m on th ly e a rn in g s during
120 c a le n d a r m onths im m e d ia te ly
p r e c e d in g r e t ir e m e n t tim e s y e a r s o f
s e r v ic e , o r (2) $ 2 .5 0 tim e s y e a r s o f
s e r v ic e , plus $50 until S o c ia l S e c u ­
r ity d is a b ility b e n e fit is r e c e iv e d .
A t age 65, n o r m a l b e n e fit p a y a b le .

4
5

D e fe r r e d fu ll.
T e rm in a te d fo r any
reason .
A g e 40 and 10 y e a r s
o f s e r v ic e .

A c tu a r ia l e q u iv ­
a len t o f n o r m a l
b e n e fit, payable
anytim e during
1 0 -y e a r p e r io d
p r i o r to age 65;
or norm al ben e­
fit, paya ble at
age 65.

N o rm a l b e n e fit,
p aya ble at
age 65o5

----------------1
Sam e as a b o v e .

65

W o r k e r 's
W o r k e r 's
co n trib u tio n s con trib u tion s
plus in t e r e s t . plus in t e r e s t ,
le s s b e n e fits
r e c e iv e d .

4. 5 p e r ­
cen t o f
annual
ea rn in gs
exceed­
ing
$ 3 , 600.

B a la n ce T r u s te e d ;
Sam e as
above.
o f c o s t . ban k a d m in istered .
A ft e r r e t i r e ­
m en t: In­
s u red , grou p
annuity.

F u ll
cost.

E m p lo y e r .
T r u s te e d ;
ban k a d m in is te r e d
A fte r r e t i r e ­
m en t: In­
su red, d e­
p o s it a d ­
m in is tr a tio n .

V estin g s e r v ic e is defin ed as fo llo w s : E a ch y e a r o f e m p lo y m e n t p r io r to age 41 equ a ls 1 y e a r o f v e s tin g s e r v ic e , fr o m age 41 th rough age 50 equa ls 2 y e a r s , and a fte r a ge 50 equa ls 3 y e a r s .
O nly s e r v ic e a fte r age 30 u se d to com p u te b e n e fit.




24
SE C D P N IO PUNS
LE TE E S N
IL L U S T R A T IV E MONTHLY PEN SIO N S
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
D A TE O F INFORMATION

PA R T IC I­
PATION
RE Q U IR E­
M ENTS

Minimum
requirements
Age

A m e r ic a n V i s c o s e
C o r p o r a t io n
T e x tile W o r k e r s (TW U A)

A g e 25
and
2 years
of
s e r v ic e .

65

Service

Assuming average annual earninj

Service
credited
•Iter
normal

*3,600
Benefit formula

*96.50

M on th ly— f o r s e r v ic e f r o m Jan. 1, 1956, through D e c . 31,
i9 6 0 , $"1. 75 tim e s y e a r s o f su ch s e r v i c e . 1
F o r s e r v ic e a fte r D e c . 31, 1960, 5 5 /1 0 0 o f 1 p e r c e n t o f
annual e a r n in g s , d iv id e d b y 12, f o r e a ch y e a r o f su ch
s e r v ic e .1

M a r c h 1958

*4,200

f

and including present primary Social
Security benefits of—

(Y e a rs )

A ll.

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t f o r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

8108.50

*108.50

•After 25 y e a r s o f fu tu re s e r v i c e :
$ 1 4 0 .0 5
$ 1 5 6 .1 0
$ 1 6 4 .1 7

Minimum
requirements
Benefit formula
Age

55

Service
(Y ea rs)

3 15

A t w o r k e r 's
8A ft e r 30 y e a r s o f fu tu re s e r v ic e : r e q u e s t.
$ 1 4 8 .3 0
$ 1 6 5 . 73
$ 1 7 5 .6 2

A c t u a r ia l eq u iv a len t o f
n o r m a l b e n e fit, p a ya b le
im m e d ia te ly .

•After 35 y e a r s o f fu tu re s e r v ic e :
F o r s e r v ic e fr o m D e c . 2 6 , 1943, through D e c . 31, 1955,
------- $l""56. 55— $T757T5------ $ 1 8 7 . 08
(p e r io d c o n tr ib u to r y plan in e f fe c t ) : ( l ) T h o se w ho n e v e r
jo in e d plan r e c e iv e no b e n e fit; (2) th o se w ho w ith d re w c o n ­
trib u tio n s r e c e iv e valu e o f ann uities p u r c h a s e d in th e ir b e ­
h a lf b y e m p lo y e r ; (3) th o s e w ho did not w ith draw co n trib u tio n s
r e c e iv e value o f ann uities p u r c h a s e d b y th e ir own and e m ­
p lo y e r c o n tr ib u tio n s .
F o r s e r v i c e 1 p r i o r to D e c . 2 6 , 1943, l /4 o f 1 p e r c e n t o f
a v e r a g e m o n th ly e a rn in g s (b a s e d on e a rn in g s ra te on D e c . 26,
194 3),f o r e a c h y e a r o f s u ch s e r v ic e fr o m a g e 25 to age 35, l/a
o f 1 p e r c e n t a ge 35 to a g e 45, and 3/ 4 o f 1 p e r c e n t at and a fte r
a g e 45.
M in im um m on th ly b e n e fit f o r th o se w ho did not w ithdraw
c o n tr ib u tio n s : $ 1 .7 5 f o r a ll y e a r s o f s e r v ic e p r i o r to
Jan. 1, 1956, ( $ 1 . 2 5 f o r e a c h y e a r in w h ich w o r k e r w as
■eligible to jo in c o n tr ib u to r y plan and did n ot).

S in c la ir O il C o r p o r a tio n
O il, C h e m ic a l and
A t o m ic W o r k e r s
D e c e m b e r 1957

A g e 25
and
5 years
of serv­
ic e , or
a g e 35
and
1 year of
s e r v ic e .

N one.

F o r s e r v ic e a ft e r June 30, 1942
Annual ea rn in g s

M on th ly b e n e fit f o r e a ch y e a r
6 f s e r v ic e 1
1 9 4 2 -4 6

$ 6 0 0 .0 1 $ 1 ,2 0 0 .0 1
$ 1 ,5 0 0 .0 1
$ 1 ,8 0 0 .0 1
$ 2 , 100. 01
$ 2 ,4 0 0 .0 1
$ 2 , 700 .0 1
$ 3 ,0 0 0 .0 1

$ 1 ,2 0 0 ------ $ 1 ,5 0 0 —
- $ 1 ,8 0 0 —
- $2 . 100 —
- $ 2 ,4 0 0 —
- $ 2 , 700 —
- $ 3 ,0 0 0 —
- $ 3 ,4 0 0 —

$400

1 9 4 7 -5 5 1956 and th e r e a fte r

-

$ 0 .5 0
0. 75
1 .0 0
1 .2 5
1 .5 0
1. 75
2 .0 0
$ 0 .5 0
2 .5 0
in in c r e m e n ts o f—
0 .5 0
0 .5 0

$ 0 . 65
0 .9 5
1 .2 5
1 .5 5
1 .9 0
2 .2 0
2 .5 0
3. 00

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 8 6 .0 0
$ 2 0 8 .5 0
$ 2 3 3 .5 0
A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 2 0 3 .5 0
$ 2 2 8 .5 0
$ 2 5 8 .5 0

55

—

W ith e m p lo y ­
e r 's c o n s e n t o r
at e m p lo y e r 's
r e q u e s t.

A c t u a r ia l eq u iv a len t o f
n o r m a l b e n e fit (m inim um
n ot a p p lic a b le ), p a y a b le
im m e d ia t e ly .

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 2 2 1 .0 0
$ 2 4 8 .5 0
$ 2 8 3 .5 0

-0 .5 0

F o r s e r v ic e p r io r to Ju ly 1, 1942:6 1 p e r c e n t o f f i r s t $ 3 , 000
o f annual e a rn in g s 7 ( fir s t $ 60 0 not in clu d e d ), and 1 .5 p e r ­
ce n t o f e a rn in gs e x c e e d in g $ 3 , 000, tim e s y e a r s o f su ch
s e r v ic e , d iv id e d b y 1 2 . 8
M in im um m on th ly b e n e fit f o r 15 o r m o r e y e a r s o f s e r v i c e , 1
g r e a t e r o f: ( l ) $3 tim e s y e a r s o f s e r v ic e to a m axim u m o f
25 y e a r s , o r (2) 1 p e r c e n t o f a v e r a g e m o n th ly e a rn in g s o f
h ig h e st 5 o f 10 y e a r s im m e d ia t e ly p r e c e d in g r e t ir e m e n t
tim e s y e a r s o f s e r v ic e to a m a xim u m o f 40 y e a r s , le s s
$ 1 0 8 . 50 f o r p r im a r y S o c ia l S e c u r it y b e n e fit.

1 E x clu d e s p r e m e m b e r s h ip s e r v ic e .
8 A s s u m in g futu re s e r v ic e f r o m Jan. 1, 1958. See n o r m a l b e n e fit f o r ch an ge a fte r I960.
3 In clu des p r e m e m b e r s h ip s e r v ic e .
*
P r o v id e d under s e p a r a te d is a b ility a g r e e m e n t.
5
C o n tr ib u to r y plan in e f fe c t fr o m D e c. 26, 1943, th rou gh D e c . 31, 1955, fin a n c e s h igh er b e n e fits f o r w o r k e r w ho did not w ith draw his c o n tr ib u tio n s .
is paid to b e n e fic ia r y ,c o n s is t in g o f w o r k e r 's co n tr ib u tio n s plus in te r e s t; a ft e r r e t ir e m e n t , w o r k e r 's c o n tr ib u tio n s plus in t e r e s t , l e s s b e n e fits r e c e iv e d .




A b e n e fit, i f death o c c u r s b e fo r e r e t ir e m e n t ,

25
U D R CO CTIV B R A IN
NE
LLE
E A G IN G
D ISA BILITY RETIR EM E N T
NORMAL
AND E A R LY
R E TIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Joint and
s u r v iv o r .

Type, conditions,
Benefit formats

Age

Service

55

s 20

requirements

Benefit formula

Compulsory
at age -

A c t u a r ia l eq u iv ­
alen t o f n o r m a l
b e n e fit, p aya ble
an ytim e during
1 0 -y e a r p e r io d
p r io r to a ge 65
w ith 15 y e a r s o f
s e r v ic e ; o r
n o r m a l b e n e fit,
pa y a b le at age
65.

65

After
retirement

FINANCING
MEDIUM
O F FUNDING

65

N o rm a l b e n e fit
(m in im u m and
su p p lem en t not
a p p lic a b le ), p a y ­
a b le at a ge 65.

DEATH B E N E F IT S

Automatic
at age -

Before
retirement

Pmployee

ADMINISTRATION

Fmployer

(Y e a rs )

M onthly— $ 4 5 , le s s S o c ia l S e c u r ity
d is a b ilit y b e n e fit.
A t a ge 65, n o r m a l b e n e fit p a y a b le .

L e v e l in ­
com e
(E a r ly ).

(4)

D e fe r r e d fu ll.
T e rm in a te d f o r any
rea son .
W o r k e r s h ir e d a fte r
D e c . 31, 1955: Age 50
and 20 y e a r s o f
s e r v ic e . s
W o r k e r s h ir e d p r io r
to Jan. 1, 1956:
( l ) T h o se w ho w e r e
not in c o n tr ib u to r y
plan and th o se w ho
w e r e but w ith d rew
co n tr ib u tio n s ; a g e 40
and 20 y e a r s o f s e r v ­
i c e , (2) th ose w ho did
not w ithdraw c o n t r i­
b u tio n s, a ge 40 and 20
y e a r s o f s e r v ic e , o r
15 y e a r s o f plan
m e m b e r s h ip ( 1 0 y e a rs*
e n title s w o r k e r tob e n e fit f o r s e r v ic e
a ft e r D e c . 25, 1943,
o n ly ).

Joint and
s u r v iv o r .

INVOLUNTARY
R E TIR EM E N T

VESTIN G

*15

A c tu a r ia l equ ivalen t o f n o r m a l b e n e ­ D e fe r r e d g ra d e d .
fit (m inim um n ot a p p lic a b le ), p a y ­
ab le im m e d ia te ly .
T e rm in a te d f o r any
reason .
50 p e r c e n t v e s te d f o r
10 y e a r s o f s e r v i c e , 1
plus 5 p e r c e n t f o r e a ch
ad d itio n a l y e a r to 100
p e r c e n t f o r 20 o r m o r e
years of s e r v ic e .9

(* )

F u ll
cost.

n

(5 )

C om bin ation : E m p lo y e r .
T r u s te e d ;
ban k a d m in istered .
In su red ;
d e p o s it a d ­
m in is tr a tio n .

W o rk e r* s
co n trib u tio n s
plus in t e r e s t .

W ork er*s
con trib u tion s
plus in t e r e s t ,
le s s b e n e fits
r e c e iv e d .

M onthly
c o n t r i­
b u tion is
tw ice
m on th ly
b e n e fit
am ount
(s e e
norm al
b e n e fit
fo rm u la
c o lu m n ).

B a la n ce
o f cost.

In su red ;
grou p
annuity.

E m p lo y e r .

6 W o r k e r in s e r v ic e on July 1, 1942, w ho w as 46 y e a r s o f a ge o r o ld e r , had 1 o r m o r e y e a r s o f s e r v ic e and w as ea rn in g m o r e than $ 60 0, c o u ld r e c e iv e c r e d it f o r s e r v ic e p r i o r to that date but
not p r io r to June 30, 1922, o r p r io r to age 45.
7 A v e ra g e o f annual r a te s o f s a la r y on S ept. 30, 1939, 1940, and 1941.
8 A p a rticip a n t on July 1, 1947, i f a ge 65 a ft e r June 30, 1942, and p r i o r to July 1, 1957, and total b e n e fit is le s s than $5 0 , su p p lem en ta l b e n e fit o f d iffe r e n c e b etw een b e n e fit r e c e iv e d f o r s e r v ic e
p r i o r to July 1, 1947, and b e n e fit f o r s e r v ic e p r i o r to July 1, 1947, com p u ted on b a s is o f July 1, 1947, a m e n d e d plan. (Supplem ental m axim u m o f $10 and total b e n e fit not to e x c e e d $ 5 0 ).
9 A w o r k e r who has b e e n te rm in a te d w ith 15 y e a r s o f s e r v ic e and w ho is to ta lly and p e rm a n e n tly d is a b le d at tim e o f te rm in a tio n is 100 p e r c e n t v e s te d . N o rm a l b e n e fit can b e g in at a g e 65 o r as
a c tu a r ia lly r e d u c e d , p aya ble im m e d ia te ly .




26
SE C D P N IO P A S
LE TE E S N L N
ILL U ST R A T IV E MONTHLY PENSIONS
NORMAL R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la

EA R LY RETIR EM E N T

i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
D A TE O F INFORMATION

P A R T IC I­
PATION
RE Q U IR E­
MENTS

Minimum
requirements
"■"l
Service
Age
(Y ea rs)

The T ex a s C om pa n y

1 year of
s e r v ic e .

65

Service
credited
after
normal
age

\ssum ing average annual earnings of—

$3,600

Benefit formula

$98.50

M on th ly b e n e fit f o r e a ch
y ea r o f s e r v ic e *

M on th ly ea rn in gs

M a r c h 1958

$5,000

$108.50

$108.50

Minimum
requirements
Benefit formula
Age

Service
(Y ea rs)

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 9 1 .0 0
$2 2 3 . 50
$2 7 3 . 50

N one. 1 F o r s e r v ic e a fte r Jan. 31, 1957

O il, C h e m ic a l and
A t o m ic W o r k e r s

$4,200

and including present primary Social
Security benefits of—

A ft e r 30 y e a r s o f fu tu re s e r v ic e ;
$ 2 0 9 .5 0
$ 2 4 6 .5 0
$ 3 0 6 .5 0

A t w o r k e r 's
re q u e s t.

D is co u n te d n o r m a l b e n e ­
fit, p a ya b le im m e d ia te ly ;
o r n o r m a l b e n e fit, p a y ­
a b le at a ge 65.

$ 6 2 . 49 and u n d er ----------------------------$ 0 .5 0
$ 6 2 .5 0 - $ 8 7 .4 9 ------------------------------0 .7 5
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 8 7 .5 0 - $ 1 1 2 .4 9 ----------------------------1 .0 0
$ 228.00
$ 2 6 9 . SO
$3 3 9 . 50
$ 1 1 2 .5 0 - $ 1 2 4 .9 9 ------------------------1 .2 0
$ 1 2 5 .0 0 - $ 1 3 7 .4 9 ------------------------1 .3 0
$ 1 3 7 .5 0 - $ 1 6 2 .4 9 ------------------------1 .5 0
$ 1 6 2 .5 0 - $ 1 8 7 .4 9 ------------------------1 .8 5
$ 1 8 7 .5 0 - $ 2 1 2 .4 9 ------------------------2 .2 0
$ 2 1 2 .5 0 - $ 2 3 7 .4 9 ------------------------2 .5 0
$2 3 7 . 50 - $ 2 6 2 .4 9 ------------------------2. 85
$2 6 2 . 50 - $ 2 8 7 .4 9 ------------------------3 .2 5
$ 2 8 7 .5 0 - $ 3 1 2 .4 9 ------------------------3. 70
$ 3 1 2 .5 0 - $ 3 3 7 .4 9 ------------------------4. 15
$ 3 3 7 .5 0 - $ 3 6 2 .4 9 ------------------------4 .6 0
$ 3 6 2 .5 0 - $ 3 8 7 .4 9 ------------------------5 .1 0
$ 3 8 7 .5 0 - $ 4 1 2 .4 9 ------------------------5. 60
$ 4 1 2 . 50 - $ 4 7 4 .9 9 ------------------------6. 60
$ 4 7 5 .0 0 - $ 5 2 4 .9 9 ------------------------7. 60
--------------------------- and up in in c re m e n ts o f—
$50
1 .0 0
F o r s e r v ic e p r i o r to F e b . 1, 1957, g r e a t e r o f: (1) 3/4 o f
1 p e r c e n t o f f i r s t $ 35 0 o f m on th ly ea rn in g s as o f Jan. 31,1957,
and 1 .5 p e r c e n t o f e a rn in g s e x c e e d in g $35 0 tim e s y e a r s o f
s e r v ic e * a ft e r Sept. 30, 1923, o r (2) a p p ro x im a te ly 1 p e r c e n t
o f m on th ly ea rn in g s up to $ 1 5 0 , 1 .3 5 p e r c e n t o f e a rn in gs
fr o m $150 to $2 5 0 , 1. 75 p e r c e n t o f e a rn in g s fr o m $250 to
$ 1 ,0 5 0 , and 1 .6 5 p e r c e n t o f e a rn in gs o f $ 1 ,0 5 0 and o v e r f o r
e a c h y e a r o f co n trib u tin g s e r v ic e a fte r June 30, 1937, plus
fo r s e r v ic e p r i o r to July 1, 1937, 1 .5 p e r c e n t o f m on th IT T ate
o f ea rn in gs on June 30, 1937, f o r e a ch y e a r o f su ch s e r v i c e . *

(3
)
The F ir e s t o n e T ir e and
R u b b er C om pa n y

65

15

N one.

M on th ly— g r e a t e r o f: ( l ) Vi* o f 1 p e r c e n t o f to ta l e a r n i n g s ,7
le s s o n e -h a lf p r im a r y S o c ia l S e c u r ity b e n e fit, o r (2) $ 1 .8 0
tim e s y e a r s o f s e r v ic e to a m a xim u m o f 30 y e a r s .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
— $ 1 4 3 . 50— $T5T. 50------$T 58: 42
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 5 2 .5 0
$ 1 6 2 .5 0
$ 1 7 9 .2 5

R u b b er W o r k e r s

55

20

W ith e m p lo y ­
e r 's co n s e n t.

Jan uary 1958
A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 5 4 .2 5
$ 1 7 6 .7 5
$ 2 0 0 .0 8
The B . F . G o o d r ic h
C om pa n y
R u b b er W o r k e r s
Jan u ary 1958

65

10

N one.

M onthly— g r e a t e r o f: ( l ) Via o f 1 p e r c e n t o f total e a r n in g s , 7 A ft e r 25 y e a r s o f fu tu re s e r v ic e :
le s s o n e -h a lf p r im a r y S o c ia l S e c u r ity b e n e fit, o r (2 ) $ 1 .8 0
$ 1 4 3 .5 0
$ 1 5 3 .5 0
$ 1 5 8 .4 2
tim e s y e a r s o f s e r v ic e to a m axim u m o f 30 y e a r s .
A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 5 2 .5 0
$ 1 6 2 .5 0
$ 1 7 9 .2 5
A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 5 4 .2 5
$ 1 7 6 .7 5
$ 2 0 0 .0 8

55

20

W ith e m p lo y ­
e r 's co n s e n t.

M onthly— Via o f 1 p e r c e n t
o f tota l ea rn in g s 7 re d u c e d
4/io
1 p e r c e n t f o r ea ch
m on th u n d er age 65, p a y ­
a b le im m e d ia t e ly , le s s
o n e -h a lf p r im a r y S o c ia l
S e c u r it y b e n e fit w hen
e lig ib le .

M onthly— Via o f 1 p e r c e n t
o f total e a rn in g s * r e d u c e d
4/io o f 1 p e r c e n t f o r e a c h
m onth u n d er a g e 65, p a y ­
a b le im m e d ia t e ly , l e s s
o n e -h a lf p r im a r y S o c ia l
S e c u r it y b e n e fit w hen
e l ig i b l e .

1 A g e 60 f o r w o m e n e m p lo y e d p r io r to A p r . 26, 1955; they m a y e le c t to r e t ir e at a g e 60 w ith fu ll b e n e fit o r r e m a in until age 65 w ith a d d ition a l r e t ir e m e n t b e n e fit a c c r u in g until age 65.
* E x clu d e s p r e m e m b e r s h ip s e r v ic e .
3 Su p plem en tal irfonthly paym en ts - i f m on th ly b e n e fit at n o r m a l r e t ir e m e n t date plus $ 2 4 f o r p r im a r y S o c ia l S e c u r ity b e n e fit is le s s than $75 f o r a w o r k e r w ith 20 throu gh 24 y e a r s o f s e r v ic e ,
$10 0 f o r 25 o r m o r e y e a r s o f s e r v ic e , e m p lo y e r w ill m ak e m on th ly paym en ts n e c e s s a r y to b r in g am ount up to $ 7 5 o r $100 r e s p e c t iv e ly .
4 F o r w om e n e m p lo y e d p r i o r to A p r . 26, 1955, e a r ly r e t ir e m e n t m in im u m a ge is 50.
5 A d d ition a l b e n e fits a r e p r o v id e d b y to ta l p e rm a n e n t d is a b ility plan: 1 but l e s s than 5 y e a r s o f s e r v ic e , 25 p e r c e n t o f s a la r y f o r 48 m on th s; f o r e a c h a d d ition a l 5 y e a r s o f s e r v ic e , b e n e fit paid




27
U D R C LLE TIV B R A IN
N E O C E A G IN G
DISABILITY RETIREMENT
NORMAL
AND EARLY
RETIREMENT
BENEFIT
OPTIONS

Minimum
requirements

requirements

Service

DEATH BENEFITS

FINANCING
MEDIUM
OF FUNDING

Type, conditions,
Benefit formula

Age

INVOLUNTARY
RETIREMENT

VESTING

Benefit formula

Compulsory
at age -

Automatic
at age -

Before
retirement

After
retirement

Fmployee

ADMINISTRATION

Employer

(Y ea rs)

D is c o u n te d n o r m a l b e n e fit, p aya ble
a n ytim e d uring 1 0 -y e a r p e r io d p r io r
to a g e 65; o r n o r m a l b e n e fit, paya ble
at age 65.

Joint and
s u r v iv o r .
L e v e l in ­
com e
(E a r ly ).

(5)

15

W o r k e r 's
W ork er’ s
co n trib u tio n s con trib u tion s
plus in t e r e s t . plus in te r e s t,
le s s b e n e fits
r e c e iv e d .

B a la n ce In su red ;
E m p lo y e r .
M on th ly
c o n t r ib u ­ o f c o s t . d e p o s it a d ­
m in is tr a tio n .
tion is
tw ic e
m on th ly
b e n e fit
am ount
(s e e
norm al
b e n e fit
fo rm u la
co lu m n ).

65

6 67

65

D isco u n te d
n o r m a l b e n e fit,
p aya ble an ytim e
during 1 0 -y e a r
p e r io d p r io r to
age 65; o r
50 p e r c e n t v e s te d f o r
10 y e a r s o f s e r v ic e , 2 n o r m a l b e n e fit,
paya ble at
plus 5 p e r c e n t f o r
e a ch ad d itio n a l y e a r to age 65.
100 p e r c e n t f o r 20 o r
m o r e y e a r s o f s e r v ic e .
D e fe r r e d g ra d e d .

65

F u ll
cost.

E m p lo y e r .
T r u s te e d ;
s e lfadm in istered .

65

65

F u ll
cost.

T r u s te e d ;
banka d m in is te r e d

T e r m in a te d f o r any
rea son .

M onthly— g r e a t e r o f: ( l ) $ 8 0 , o r
(2) Via o f 1 p e r c e n t o f total
e a r n in g s . 7
B oth le s s o n e -h a lf S o c ia l S e c u r ity
d is a b ility b e n e fit.
A t a ge 65, n o r m a l b e n e fit p a y a b le .

Joint and
s u r v iv o r .
P e r io d
c e r ta in .

15

M onthly— g r e a t e r o f: (1) $ 8 0 , o r
(2) Via o f 1 p e r c e n t o f total
e a r n in g s . 7
Both le s s o n e -h a lf S o c ia l S e c u r ity
d is a b ility b e n e fit.

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .
A g e 40 and 10 y e a r s
o f s e r v ic e .

M onthly— $ 1 .8 0
tim e s y e a r s o f
s e r v i c e 8 to a
m axim u m o f
30 y e a r s , p a y ­
a b le at age 65.

E m p lo y e r .

A t age 65, n o r m a l b e n e fit p a y a b le .

f o r a dd ition al 24 m on th s; b e n e fit c e a s e s at age 65. F o r 20 o r m o r e y e a r s o f s e r v ic e , b e n e fit is paid until age 65. W o r k e r m a y e le c t lum p sum o f 10 p e r c e n t o f g r o s s am ount (m axim um $ 1 ,0 0 0 ) and r e ­
m a in d er in equal m on th ly in s ta llm e n ts . In c a s e o f a w o r k e r r e t ir e d u nd er this plan, paym en ts un d er this plan w ill be added to p e n sio n plus $ 2 4 f o r S o c ia l S e c u r it y b e n e fit in d eterm in in g e lig ib ilit y f o r a
su pplem en tal paym en t as d e s c r ib e d in fo o tn o te 3.
6 F o r w om en e m p lo y e d p r io r to A p r. 26, 1955, a u to m a tic r e t ir e m e n t is at age 65.
7 F o r s e r v ic e p r i o r to Jan. 1, 1955, total e a rn in gs equal a v e r a g e annual e a rn in gs during 1 0 -y e a r p e r io d fr o m Jan. 1, 1945, through D e c. 31, 1954, tim e s y e a r s o f such s e r v ic e .
8 Only s e r v ic e a ft e r age 30 u sed to com pu te b e n e fit.




28
SE C D P N IO P N
LE TE E S N LA S
ILLUSTRATIVE MONTHLY PENSIONS
NORMAL RETIREMENT
COMPANY, UNION, AND
DATE OF INFORMATION

PARTICI­
PATION
REQUIRE­
MENTS

Minimum
requirements
Age

U nited States R u bber
C om p a n y

65

R u b b er W o r k e r s

Service

Service
credited
efter
normal

Benefit formula

(Y e a rs )

15

M onthly— g r e a t e r o f: ( l ) 1 p e r c e n t o f a v e r a g e m on th ly e a r n in gs d u rin g 120 c o n s e c u t iv e m onths o f h ig h e st m o n th ly e a r n ­
in gs tim e s y e a r s o f s e r v ic e , l e s s o n e -h a lf p r im a r y S o c ia l
S e c u r ity b e n e f it , o r (2) $ 1 .8 0 tim e s y e a r s o f s e r v ic e to a
m axim u m o f 30 y e a r s .

Jan u ary 1958

EARLY RETIREMENT

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

Assuming average annual earninj o f S3,600
S4.200
and including present primary Social
Security benefits of—
898.50
S108.50
8108.50

Minimum
requirements
Benefit formula
Age

Service
(Y ea rs)

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 4 3 .5 0
$ 1 5 3 .5 0
$ 1 5 8 .4 2
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 5 2 .5 0
$ 1 6 2 .5 0
$ 1 7 9 .2 5

W ith e m p lo y ­
e r 's con sen t.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .2 5
$ 1 7 6 .7 5
$ 2 0 0 .0 8

J. F . M cE lw a in C om pa n y

3 years
of

65

N ew H a m p sh ire Shoe
W o r k e r s U nion; New
H a m p s h ire Shoe W o r k e r s
U nion o f M a n c h e s te r
Jan uary 1958

L a d ies handbag and
n o v e lty in d u stry ,
v a r io u s e m p lo y e r s
(New Y o r k , N. Y . )

M onthly— f o r s e r v i c e 1 a ft e r D e c . 31, 1952, 1 .2 p e r c e n t o f
total e a r n in g s , d iv id e d b y 12; f o r s e r v ic e p r i o r to Jan. 1,
1953, 1 .2 p e r c e n t o f a v e r a g e annual e a rn in gs fr o m Jan. 1,
1948, throu gh D e c . 31, 1952, tim e s y e a r s o f s u ch s e r v ic e ,
d ivided b y 12; to a m axim u m o f 30 y e a r s . L e s s o n e -h a lf
p r im a r y S o c ia l S e c u r ity b e n e fit.
M in im um m on th ly b e n e fit f o r 10 o r m o r e y e a r s o f s e r v ic e 1$1 tim e s y e a r s o f s e r v ic e to a m axim u m o f 15 y e a r s .

65

M onthly— $40 f o r 25 o r m o r e y e a r s o f s e r v ic e , r e d u c e d p r o
p o r tio n a te ly f o r 15 o r m o r e but l e s s than 25 y e a r s o f s e r v ic e

A ft e r 25 y e a r s o f fu tu re s e r v ic e :

------ $0'9".25 1 W .Z 5 "

JTTTZT

A ft e r 30 y e a r s o f future s e r v ic e :
$ 1 5 7 .2 5
$ 1 8 0 .2 5
$ 2 0 4 .2 5

60
W ith e m p lo y ­
e r 's c on sen t.

M onthly— 1 p e r c e n t o f a v e r a g e m on th ly earn in gs
during 120 c o n s e c u tiv e
m onths o f h ig h est m on th ly
earn in gs tim e s y e a r s o f
s e r v ic e , red u c e d 4/io o f
p e r c e n t f o r ea ch m onth
under age 65, pa ya b le i m ­
m e d ia te ly , le s s o n e -h a lf
p r im a r y S o c ia l S e c u r ity
b e n e fit w hen e lig ib le .

N o rm a l b e n e fit re d u c e d l/s
o f 1 p e r c e n t f o r e a c h m onth
und er age 65, pa ya b le i m ­
m e d ia te ly ; o r n o r m a l b e n e ­
fit , paya ble at a ge 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 5 7 .2 5
$ 1 8 0 .2 5
$ 2 0 4 .2 5

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0
A ft e r 30 y e a r s o f future! s e r v ic e :
$ 1 4 8 .5 0
$ 1 4 8 . 50
$ 1 3 8 .5 0

P ock etb ook W ork ers,
N ew Y o r k , N. Y.
(L e a th e r G ood s , P la s t ic
and N o v e lty W o r k e r s )

A fte r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 3 8 . 50

$ 1 4 8 . 50

$ 1 4 8 . 50

O cto b e r 1957
O w e n s -I llin o is G lass
C om pa n y

M onthly— $2 tim e s y e a r s o f s e r v ic e to a m axim u m o f
35 y e a r s .

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 4 8 .5 0
$ 1 5 8 .5 0
$ 1 5 8 .5 0
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
-------$-153.50
$ 1 6 3 . 50 “ $ 163.

G la ss B ottle B lo w e rs

W

5 55

10

W ith e m p lo y ­
e r 's co n s e n t.

A c t u a r ia l eq u iva len t o f
n o r m a l b e n e fit, p a ya b le
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a y a b le at age 65.

Jan uary 1958
$ 1 6 8 .5 0
P itts b u r g h P la te G lass
C om pa n y
G la ss and C e r a m ic
W orkers
Jan uary 1958

65

M onthly— $2 tim e s y e a r s o f s e r v ic e .

r s o f fu tu re s e r v ic e :
$ 1 7 8 .5 0
$ 1 7 8 .5 0

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 4 8 .5 0
$ 1 5 8 .5 0
$ 1 5 8 .5 0
yea:r s o f fu tu re s e r v ic e :
$ 1 5 8 .5 0
$ 1 6 8 .5 0
$ 1 6 8 .5 0

60

15

A t w o r k e r 's
r e q u e s t.

N o rm a l b e n e fit r e d u c e d
* /io o f 1 p e r c e n t f o r ea ch
m on th u n d er a ge 65, p a y ­
a b le im m e d ia te ly .

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 6 8 . 50 $ 1 7 8 . 50
$ 1 7 8 . 50

1 In clu d es p r e m e m b e r s h ip s e r v ic e .
* 15 y e a r s o f s e r v ic e in in d u s tr y and ea rn in g at le a s t $1,000 w ith co n trib u tin g e m p lo y e r s s in c e Sept. 1 ,1953. S e r v ic e in c lu d e s ( l ) e m p lo y m e n t w ith c on trib u tin g e m p lo y e r s a ft e r D e c . 31, 1955,
and (2) p r i o r to Jan. 1, 1955, tim e as union m e m b e r in g o o d standing, o r e m p lo y e d in a jo b c o v e r e d b y u n io n 's c o lle c t iv e .b a r g a in in g a g r e e m e n t s .
3 A d d ition a l 1 p e r c e n t be gin n in g Sept. 20, 1958.
4 A g e 60 f o r w o m e n h ir e d p r i o r to Jan. 1, 1954.




29
U D R C LLE TIV B R A IN
N E O C E A G IN G
DISABILITY RETIREMENT
NORMAL
AND EARLY
RETIREMENT
BENEFIT
OPTIONS

Minimum
requirements

Type, conditions,
Benefit formula

Age

INVOLUNTARY
RETIREMENT

VESTING

Service

requirements

Benefit formula

Compulsory
at age •

DEATH BENEFITS

FINANCING
MEDIUM
OF FUNDING

Antomatic
at age -

Before
retirement

After
retirement

Fmployee

ADMINISTRATION

Employer

(Y e a rs )

15

65

F u ll
cost.

N ot funded.

E m p lo y e r .

68

M on th ly— g r e a t e r o f: (1) $ 8 0 , le s s
S o c ia l S e c u r ity d is a b ility b e n e fit,
o r (2) 1 p e r c e n t o f a v e r a g e m on th ly
ea rn in g s d uring 120 c o n s e c u tiv e
m onths o f h ig h e st ea rn in gs tim e s
y e a r s o f s e r v ic e , le s s o n e -h a lf
S o c ia l S e c u r ity d is a b ility b e n e fit.

F u ll
co st.

N ot funded.

E m p lo y e r .

W hen e lig ib le f o r p r im a r y S o c ia l
S e c u r ity b e n e fit, o r at age 65,
n o r m a l b e n e fit p a ya b le .

Join t and
s u r v iv o r .

55

120

M onthly— $ 5 0 , le s s S o c ia l S e c u r ity
d is a b ility b e n e fit.
A t a g e 60 to age 65, e a r ly r e t i r e ­
m en t b e n e fit m a y b e e le c t e d ; o t h e r ­
w is e , n o r m a l b e n e fit, pa ya b le at
a ge 65.

T r u s te e d ;
F u ll
c o s t ---s e lfa d m in istered
2 p er­
cen t o f
gross
w e e k ly
w a g e s .3

645

Joint and
s u r v iv o r
(N o r m a l).

6 15

15

65

M onthly— $2 tim e s y e a r s o f s e r v ic e
to a m axim u m o f 35 y e a r s .

M onthly— g r e a t e r o f: (1) $ 5 0 , le s s
o n e -h a lf S o c ia l S e c u r ity d is a b ility
b e n e fit, o r (2) $3 tim e s y e a r s o f
s e r v ic e .
At age 65, n o r m a l b e n e fit p a y a b le .

D e fe r r e d fu ll.
T e r m in a te d f o r any
reason .

N o rm a l b e n e fit,
p aya ble at
ag e 65.

F u ll
co st.

E m p lo y e r .
T r u s te e d ;
bankadm inistered.

(7)

F u ll
cost.

E m p lo y e r .
T r u s te e d ;
ban k a d m in istered .

. A g e 40 and 15 y e a r s
o f s e r v ic e .

5 A g e 50 f o r w o m e n h ir e d p r i o r to Jan. 1, 1954.
6 A g e plus s e r v ic e m u st equal at le a s t 70. In itia l m in im u m r e q u ir e m e n ts a r e age 45 and 15 y e a r s o f s e r v ic e .
7 E m p lo y e r has rig h t to r e t ir e w o r k e r at age 68 e ffe c t iv e M ay 1, 1958.




B ip a r tite .

30
SE C D P N IO P A S
LE TE E S N L N
ILLUSTRATIVE MONTHLY PENSIONS
NORMAL RETIREMENT
COMPANY, UNION, AND
DATE OF INFORMATION

A lum inum C om pa n y
o f A m e r ic a

PARTICI­
PATION
REQUIRE­
MENTS

Minimum
requirements
"l
Service
Age
(years)
■

65

15

Service
credited
after
normal
a8*

A ll.

A lum inum W o r k e r s ;
S te e lw o r k e r s

\ssum ing average annual earnings of—
$3,600

Benefit formula

F e b r u a r y 1958

R ey n old s M etals
C om pa n y

65

15

A ll.

F e b r u a r y 1958

M onthly— g r e a t e r o f: ( l ) Via o f 1 .2 5 p e r c e n t o f e a rn in gs
a ft e r D e c . 31, 1949, and Via o f 1 p e r c e n t o f e a rn in gs p r i o r
to Jan. 1, 1 9 5 0 ,* o r (2) $121 f o r 60 ca le n d a r q u a rte r s o f
s e r v ic e in c r e a s in g $ 0 . 60 f o r e a ch ad d itio n a l ca le n d a r
q u a rte r to $ 1 5 7 f o r 120 o r m o r e ca le n d a r q u a r te r s , plus
$ 0 . 025 f o r e a ch ca le n d a r q u a rte r o f s e r v ic e a ft e r D e c . 3 l ,
1957, (not to e x c e e d 120 q u a r te r s ).
Both le s s $85 f o r p r im a r y S o c ia l S e c u r ity b e n e fit.

S te e lw o r k e r s
D e c e m b e r 1957

$5,000

$108.50

$108.50

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 6 1 .0 0
$ 1 7 1 .0 0
$ 1 7 1 .0 0
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 . 50
$1 8 3 . 50
$1 8 3 . 50

65

15

A ll.

M onthly— g r e a t e r o f: (1) 1 p e r c e n t o f a v e r a g e m o n th ly
e a rn in gs du rin g 120 m onths im m e d ia te ly p r e c e d in g r e t i r e ­
m en t tim e s y e a r s o f s e r v ic e , le s s $8 5 f o r p r im a r y S o c ia l
S e c u r ity b e n e fit, o r (2) $ 2 . 50 tim e s y e a r s o f s e r v ic e a ft e r
O ct. 31, 1957, and $ 2 .4 0 tim e s y e a r s o f s e r v ic e p r i o r to
N ov. 1, 1957, to a m a xim u m o f 30 y e a r s .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 6 1 .0 0
$ 1 7 1 .0 0
$ 1 7 1 .0 0
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0

Benefit formula
Age

60

Service
(Y ea rs)

15

At w o r k e r 's
re q u e s t.

A c t u a r ia l equ ivalen t o f
n o r m a l b e n e fit, paya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, pa y a b le at
a g e 65.

E a rn in g s f o r s e r v ic e p r i o r to Jan. 1, 1944, b a s e d on ea rn in gs f o r 1943.
E a rn in g s f o r s e r v ic e p r i o r to 1942 b a s e d on a v e r a g e h o u r ly ea rn in g s f o r 1942.

60

15

A t w o r k e r 's
r e q u e s t.

N o rm a l b e n e fit red u c e d Va
o f 1 p e r c e n t f o r e a c h m onth
un d er a ge 65, pa ya b le i m ­
m e d ia te ly ; o r n o r m a l b e n e ­
fit, p aya ble at a ge 65.

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 2 0 5 .8 0

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 6 1 .0 0
$ 1 7 1 .0 0
$ 1 7 1 .0 0
A fte r 30 l y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0




Minimum
requirements

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 . 50
$ 1 8 3 . 50
$ 2 0 5 . 80

S te e lw o r k e r s

U nited States S te e l
C o r p o r a t io n

$4,200

and including present primary Social
Security benefits of—
$98.50

M on th ly— g r e a t e r o f: (1) m on th ly equ ivalen t o f 1 .2 5 p e r c e n t
o f total e a r n i n g s ,1 le s s $85 f o r p r im a r y S o c ia l S e c u r ity
b e n e fit, o r (2) $ 2 . 50 tim e s y e a r s o f s e r v ic e a ft e r D e c . 31,
1957, and $ 2 .4 0 tim e s y e a r s o f s e r v ic e p r i o r to Jan. 1,
1958, to a m a xim u m o f 30 y e a r s .

EARLY RETIREMENT

a t a g e 6 5 u n d er n o rm a l r e tir e m e n t fo rm u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

60

15

A t w o r k e r 's
re q u e s t.

A c t u a r ia l eq u iv a len t o f
n o r m a l b e n e fit, p a ya b le
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a y a b le at age 65.

31
U D R C LLE TIV B R A IN
N E O C E A G IN G
DISABILITY RETIREMENT
NORMAL
AND EARLY
RETIREMENT
BENEFIT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

INVOLUNTARY
RETIREMENT

VESTING

Type, conditions,
and minimum
requirements

DEATH BENEFITS

FINANCING
MEDIUM
OF FUNDING

Benefit formula

Compulsory
at age -

Automatic
at age -

Before
retirement

After
retirement

Fmployee

ADMINISTRATION

Employer

(Y e a rs )

15

M onthly— g r e a t e r o f: ( l ) $ 9 0 , le s s
$8 5 f o r S o c ia l S e c u r ity d is a b ility
b e n e fit, (2) m on th ly e qu ivalen t o f
1 .2 5 p e r c e n t o f total e a r n i n g s ,1
le s s $85 f o r S o c ia l S e c u r ity d i s ­
a b ilit y b e n e fit, o r in W o r k m e n ^
C o m p e n s a tio n c a s e s , a ctu a l S o c ia l
S e c u r ity b e n e fit i f le s s than $85 , o r
(3) $ 2 . 50 tim e s y e a r s o f s e r v ic e
a ft e r D e c . 31, 1957, and $ 2 .4 0
tim e s y e a r s o f s e r v ic e p r io r to
Jan. 1, 1958, to a m axim u m o f
30 y e a r s .

D e fe r r e d fu ll.

N o rm a l b e n e fit,
p a ya b le at age 65.

F u ll
co st.

T ru s te e d ;
E m p lo y e r .
ban kad m in istered

N o rm a l b e n e fit,
p a ya b le at
a ge 65.

F u ll
co st.

Not funded.

N o rm a l b e n e fit,
p aya ble at
age 65.

F u ll
co st.

E m p lo y e r .
T r u s te e d ;
s e lfad m inistered.

L a id o ff and not r e ­
c a lle d w ithin 2 y e a r s ,
o r te rm in a te d as r e ­
sult o f pe rm a n e n t
shutdow n o f plant, d e ­
p a rtm e n t, o r su b ­
d iv is io n .
A g e 40 and 15 y e a r s
o f s e r v ic e .

A t a ge 65, n o r m a l b e n e fit p a y a b le .
15

M onthly— g r e a t e r o f: ( l ) $ 9 0 , le s s
$85 f o r S o c ia l S e c u r ity d is a b ility
b e n e fit, (2) Via o f i . 2 5 p e r c e n t o f
e a rn in gs a fte r D e c . 31, 1949, and
Via o f 1 p e r c e n t o f ea rn in g s p r io r
to Jan. 1, 1950, 2 le s s $85 fo r
S o c ia l S e c u r ity d is a b ility b e n e fit, o r
in W o r k m e n ’ s C o m p e n s a tio n c a s e s ,
a ctu a l S o c ia l S e c u r ity b e n e fit i f le s s
than $85 , o r (3) $121 f o r 60 c a le n d a r
q u a rte r s o f s e r v ic e in c r e a s in g $ 0 . 60
f o r e a ch ad d itio n a l ca le n d a r q u a rte r
to $ 1 5 7 f o r 120 o r m o r e c a le n d a r
q u a r t e r s , plus $ 0 ,0 2 5 f o r e a ch
ca le n d a r q u a rte r o f s e r v ic e a fte r
D e c. 31, 1957 (not to e x c e e d
120 q u a r te r s ), le s s $85 f o r S o c ia l
S e c u r ity d is a b ility b e n e fit.

D e fe r r e d fu ll.
L a id o ff (in clu din g
p e rm a n e n t shutdow n),
and not r e c a lle d w ith­
in 2 y e a r s o f su ch la y ­
o ff (in clu din g p e r m a ­
nent shutdow n).

E m p lo y e r .

A g e 40 and 15 y e a r s
o f s e r v ic e .

A t age 65, n o r m a l b e n e fit p a y a b le .

Joint and
s u r v iv o r .




15

M onthly— g r e a t e r o f: (1) $ 9 0 , le s s
S o c ia l S e c u r ity d is a b ilit y b e n e fit,
( 2 ) 1 p e r c e n t o f a v e r a g e m on th ly
ea rn in g s du rin g 120 m onths im m e d i­
a te ly p r e c e d in g r e t ir e m e n t tim e s
y e a r s o f s e r v ic e , le s s $85 f o r S o c ia l
S e c u r ity d is a b ility b e n e fit, o r in
W o r k m e n ’ s C o m p e n sa tio n c a s e s ,
a ctu a l S o c ia l S e c u r ity b e n e fit if le s s
than $ 8 5 , o r (3) $ 2 .5 0 tim e s y e a r s
o f s e r v ic e a fte r O ct. 31, 1957, and
$ 2 .4 0 tim e s y e a r s o f s e r v ic e p r io r
to N ov. 1, 1957, to a m a xim u m o f
30 y e a r s .
A t age 65, n o r m a l b e n e fit p a y a b le .

D e fe r r e d fu ll.
L a id o ff and not r e ­
c a lle d w ithin 2 y e a r s
o r te rm in a te d as r e ­
sult o f pe rm a n e n t
shutdow n o f plant, d e ­
p a rtm en t, o r
su b d iv is io n .
A g e 40 and 15 y e a r s o f
s e r v ic e .

32

SE C D P N IO P N
LE TE E S N LA S
IL L U S T R A T IV E MONTHLY PENSIO NS
NORMAL R E T IR EM E N T
COMPANY, UNION, AND
D A TE O F INFORMATION

P A R T IC I­
PATION
REQ U IR EME N TS

Minimum
reqairementa
A fe

Service
credited

Assamiag average aanual earnings of—
S3,600
84,200
fe.000
and iacladiag present primary Social
Secnrity benefits of—
898.50
8108.50
8108.50

Benefit formal a

Service
(Y e a rs )

*8 *

E A R LY R E TIR EM E N T
Miaimam
reqairemeats
Benefit formats
Age

Service
(Y e a rs )

N o n c o n trib u to r y plan

Inland S teel C om pa n y
S te e lw o r k e r s

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t f o r m u la
in c lu d in g p rim a ry S o c i a l S e c u r it y b e n e f i t s

_
_

65

15

Jan uary 1958

A ll.

M on th ly— g r e a t e r o f: ( 1 ) 1 p e r c e n t o f a v e r a g e m on th ly e a r n in gs d uring 120 m onths im m e d ia te ly p r e c e d in g r e t ir e m e n t
tim e s y e a r s o f s e r v ic e , le s s $85 f o r p r im a r y S o c ia l S e c u ­
r it y b e n e fit, o r (2) $ 2 .5 0 tim e s y e a r s o f s e r v ic e a fte r
O ct 31, 1957, and $ 2 .4 0 tim e s y e a r s o f s e r v ic e p r i o r to
N o v. 1, 1957, to a m a x im u m o f 30 y e a r s .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 161 . o o
$ 1 7 1 .0 0
in i.o o
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0

60

15

A t w o r k e r 's
r e q u e s t.

A c tu a r ia l equ ivalen t o f
n o r m a l b e n e fit, p aya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a ya b le a t a g e 65i

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0

O ptional co n tr ib u to r y plan
2 years
of
s e r v ic e .

65
M onthly e a rn in g s

M onthly b e n e fit f o r
W o r k e r 's m o n th ly
e a c h y e a r o f s e r v ic e 1
co n trib u tio n

$ 160. 00 and
$ 0 . 75
u n d e r ------------- - $ 1 6 0 .0 1 - $180—
0 .9 0
--------------------------- and up in in c re m e n ts o f—•—
$20
0 .1 5
$ 2 4 0 .0 1 - $260—
1 .5 0
$ 2 6 0 .0 1 - $280—
1 .8 0
$ 2 8 0 .0 1 - $300—
2 . 10
$ 3 0 0 .0 1 - $320—
2 .4 0
3 .0 0
$ 3 2 0 . 01 - $ 38 0—
3 .9 0
$ 3 8 0 .0 1 - $ 4 4 0 —
■ and up in in c r e m e n ts o f— $60
0 .9 0

$ 2 .0 0
2 .4 0
0 .4 0
4 .0 0
4 .8 0
5. 60
6 .4 0
8 .0 0
1 0 .4 0

A ft e r 25 y e a r s o f fu tu re s e r v i c e : 1
$ 1 7 8 .0 0
$ 1 9 2 .0 0
$ 1 9 8 .0 0
yearis o f fu tu re s e r v ic e :
$ 1 9 4 .0 0
$ 2 0 9 .0 0
$ 2 1 6 .0 0

Sam e as a b o v e .
W ith e m p lo y ­
e r 's c on sen t.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 9 7 .0 0
$ 2 1 3 .0 0
$ 2 2 2 .0 0

2 .4 0

M in im um m o n th ly b e n e fit f o r 15 o r m o r e y e a r s o f s e r v i c e *
equ a l to b e n e fit p r o v id e d b y n o n c o n tr ib u to r y plan plus
p o r tio n o f b e n e fits u n d er c o n tr ib u to r y plan c o v e r e d b y w o r k ­
e r 's co n tr ib u tio n s .

The A m e r ic a n B r a s s
C om p a n y

65

15

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e to a m a x im u m o f
35 y e a r s .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5

M in e, M ill and S m e lte r
W orkers

A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

O cto b e r 1957

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

E x clu d e s p r e m e m b e r s h ip s e r v ic e .
In clu d es p r e m e m b e r s h ip s e r v ic e .




60
A t w o r k e r 's
r e q u e s t.

N o rm a l b e n e fit r e d u c e d l/»
o f 1 p e r c e n t f o r ea ch
m on th u n d er a g e 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, p a ya b le
at a g e 65.

33
UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM E N T
NORMAL
AND E A R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

INVOLUNTARY
RETIR EM E N T

VESTIN G

Type, conditions,
and minimum
requirements

Benefit formula

Compulsory
at age -

DEATH BE N E F IT S

Automatic
at age -

Before
retirement

After
retirement

_
_

_
_

_
_

FINANISING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y e a rs )

N o n co n trib u to ry plan

Joint and
s u r v iv o r .

15

M onthly— g r e a t e r o f: ( l ) $90 , le s s
S o c ia l S e c u r ity d is a b ility b e n e fit,
( 2 ) 1 p e r c e n t o f a v e r a g e m on th ly
e a rn in g s during 120 m onths im m e d i­
a te ly p r e c e d in g r e t ir e m e n t tim e s
y e a r s o f s e r v ic e , le s s $8 5 f o r
S o c ia l S e c u r ity d is a b ility b e n e fit, o r
in W o r k m e n ’ s C o m p e n sa tio n c a s e s ,
a ctu a l S o c ia l S e c u r ity b e n e fit i f le s s
than $ 8 5 , o r (3) $ 2 .5 0 tim e s y e a r s
o f s e r v ic e a fte r O ct. 31, 1957, and
$ 2 .4 0 tim e s y e a r s o f s e r v ic e p r io r
to N ov. 1, 1957, to a m axim u m o f
30 y e a r s .

D e fe r r e d fu ll.
L a id o ff and not r e ­
c a lle d w ithin 2 y e a r s
o r te rm in a te d as r e ­
sult o f pe rm a n e n t
shutdow n o f plant, d e ­
p a rtm e n t, o r
s u b d iv is io n .

N o rm a l b e n e fit,
p aya ble at
age 65.

_
_

_

F u ll
co st.

T ru s te e d ;
E m p lo y e r .
s e lfa d m in istered

B a la n ce
o f cost.

In su red;
grou p
annuity.

F u ll
cost.

T r u s te e d ;
E m p lo y e r .
banka d m in is te r e d

A g e 40 and 15 y e a r s
o f s e r v ic e .

A t age 65, n o r m a l b e n e fit p a y a b le .
i
O ptional co n tr ib u to r y plan
-------- !

Joint and
s u r v iv o r .

San ie as
abo ve.

M o d ified
c a s h refu n d.




W o r k e r r e c e iv e s the d is a b ility b e n e ­
fit un d er the n o n c o n tr ib u to r y plan
until a ge 65.
A t a ge 65, n o r m a l b e n e fit p aya ble
(co m p u te d u nd er c o n tr ib u to r y pla n ).

D e fe r r e d fu ll.

Sam e as a b o v e .

i
Sam e as a b o v e .

T e rm in a te d f o r any
reason .

W o r k e r 's
co n trib u tion s
plus in t e r e s t .

See
norm al
b e n e fit
fo rm u la
colu m n .

Sam e as
above.

10 y e a r s o f s e r v i c e *
including 60 m on th ly

c o n tr ib u tio n s .

50

15

M onthly— $ 9 0 , le s s o n e -h a lf S o c ia l
S e c u r ity d is a b ility b e n e fit.
At a ge 65, n o r m a l b e n e fit p a y a b le .

68

34
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PEN SIO N S
NORMAL R E TIR EM E N T

E A R LY R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
in c lu d in g p rim a ry S o c i a l S e c u r it y b e n e f i t s

COMPANY, UNION, AND
D A T E O F INFORMATION

P A R T IC I­
PATION
RE Q U IR E­
MENTS

Minimum
requirements
Age

A m e r ic a n R a d ia to r and
Standard SanitaryC o r p o r a t io n ( L o u is v ille ,
K y .)

Service
(Y e a rs )

Service
credited
after
normal

.Assuming average annual earnings of—

S3.600

Benefit formula

•«
8

*5,000

*96.50

8108.50

B oth l e e * $ 8 5 f o r p r im a r y S o c ia l S e c u r ity ben efit*
3

S te e lw o r k e r s

(Y e a rs )

A ft e r 35 y e a r s o f fu tu re s e r v ic e ;
$1 5 3 . 50
$ 1 6 3 .5 0
$ 1 6 9 .3 3

M onthly— $ 2 . 50 tim e s y e a r s o f s e r v ic e .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 6 1 .0 0
$ 1 7 1 .0 0
$ 1 7 1 .0 0

D e c e m b e r 1957

65

Benefit formula
Service

*108.50

M onthly— g r e a t e r o f: ( l ) 1 p e r c e n t o f a v e r a g e m on th ly e a rn in gs A f t e r 25 y e a r s o f fu tu re s e r v i c e :
du rin g 10 y e a r s im m e d ia t e ly p r e c e d in g r e t ir e m e n t tim e s
~
~
$ 1 4 3 .5 0
$ 1 5 3 .5 0
$ 1 5 3 .5 0
y e a r s o f s e r v ic e , o r (2) $14 0 f o r 30 o r m o r e y e a r s o f s e r v ­
i c e , re d u c e d $2 p e r m on th f o r e a c h y e a r o f s e r v ic e le s s than
y e a r s o f fu tu re s e r v ic e :
30 to a m in im u m o f $11 0 f o r 15 y e a r s o f s e r v ic e .
$ 1 5 3 .5 0
$ 1 6 3 .5 0
$ 1 6 3 .5 0

65

Standard A llie d T r a d e s
C o u n c il

A m e r ic a n Can C om pa n y

*4,200

and including present primary Social
Security benefits of—

15

To
age
7 2 .1

A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0

D e c e m b e r 1957

60
W ith -e m p lo y ­
e r 's co n s e n t.

A c t u a r ia l equ iva len t o f
n o r m a l b e n e fit, p a ya b le
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a ya b le at a g e 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 8 6 .0 0
$ 1 9 6 .0 0
$ 1 9 6 .0 0

R h eem M an u factu rin g
C om p a n y

G re a te r o f: ( l ) M onthly— 1 p e r c e n t o f a v e r a g e m o n th ly e a r n ­ A ft e r 25 y e a r s o f fu tu re s e r v ic e :
in gs during 120 m onths im m e d ia te ly p r e c e d in g r e t ir e m e n t
$ 1 4 3 .5 0
$ 1 5 3 .5 0
$ 1 5 3 .5 0
tim e s y e a r s o f s e r v ic e , o r (2) Y e a r ly — $ 1 , 680 ($ 1 4 0 m o n th ly )
f o r 30 o r m o r e y e a r s o f s e r v ic e , r e d u c e d $2 p e r y e a r f o r
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
e a ch m onth o f s e r v ic e l e s s than 30 y e a r s to a m in im u m o f
$ 1 5 3 .5 0
$ 1 6 3 .5 0
$ 1 6 3 .5 0
$ 1 , 320 ($ 1 1 0 m o n th ly) f o r 15 y e a r s o f s e r v ic e .
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
B oth le s s $85 m o n th ly f o r p r im a r y S o c ia l S e c u r ity b e n e fit.
$ 1 5 3 .5 0
$ 1 6 3 .5 0
$ 1 6 9 .3 3

65

S te e lw o r k e r s
D e c e m b e r 1957

N ationa l L o c k C om pa n y
A u to m o b ile W o r k e r s
M a r c h 1958

a ge
70.

A f te r 25 y e a r s o f fu tu re s e r v ic e :
M onthly— 3/* o f 1 p e r c e n t o f f i r s t $ 3 , 000 o f a v e r a g e annual
a
e a rn in g s du rin g high 10 y e a r s and Vio o f 1 p e r c e n t o f e a r n ­
* $ 1 6 2 .2 6
$ 1 8 1 .0 6
$ 1 9 2 . 78
in gs e x c e e d in g $ 3 ,0 0 0 tim e s y e a r s o f s e r v ic e , d iv id e d b y 12
p r o v id e m o n th ly b a s e fig u r e . M onthly b a s e fig u r e is ad ju sted A fte r 30 y e a r s o f fu tu re s e r v ic e :
im m e d ia te ly and su b s e q u e n tly on e a c h Jan u ary 1 and July 1
* $ 1 7 5 . 01
$ 1 9 5 .5 6
$ 2 0 9 .6 4
b y m u ltip ly in g it b y c u r r e n t BLS C o n s u m e r P r i c e Index
(with f lo o r at an in d e x o f 99. 7) and d ivid in g r e s u lt b y 103. 7
A fte r 35 y e a r s o f fu tu re s e r v ic e :
(in d ex f o r July 1948).
* $ 1 8 7 . 77 $ 2 1 0 .0 8
$ 2 2 6 .4 9

5 60

N o rm a l b e n e f i t , p a y a b le im m e d ia te ly .

W ith .e m p lo y e r 's c o n s e n t.

M in im um m o n th ly b e n e fit— $ 4 0 , a d ju ste d in a c c o r d a n c e w ith
c o s t - o f - l i v i n g fo rm u la a b o v e . 3

1 S e r v ic e c r e d it e d a ft e r a g e 72 o n ly to attain m in im u m s e r v ic e r e q u ir e m e n t f o r n o r m a l r e t ir e m e n t b e n e fit.
2 T he in itia l m in im u m s e r v ic e r e q u ir e m e n t is 15 y e a r s ; e lig ib ilit y f o r r e t ir e m e n t at o r a ft e r age 65 r e q u ir e s that a w o r k e r have 80 p o in ts , a llo w in g 1 p oin t f o r e a c h y e a r o f a g e and 1 poin t f o r
ea ch y e a r o f s e r v ic e .
3 A w o r k e r w ith 10 but le s s than 15 y e a r s o f s e r v ic e having 80 poin ts a ft e r a g e 65 r e c e iv e s $ 2 .2 5 m o n th ly tim e s y e a r s o f s e r v ic e . No c o s t - o f - l i v i n g a d ju stm en t is m ad e in this am ou n t.




35
UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Type, conditions.
Benefit formula

Age

INVOLUNTARY
RETIR EM E N T

VESTIN G

Service

requirements

Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y e a rs )

15

F u ll
co st.

T r u s te e d ;
E m p lo y e r .
ban kadm inistered.

F u ll
cost.

T r u s te e d ;
E m p lo y e r .
bankadm inistered.

F u ll
cost.

M onthly— g r e a t e r o f: ( l ) $75 , o r
(2) 1 p e r c e n t o f a v e r a g e m on th ly
e a rn in g s during 120 c a le n d a r m onths
im m e d ia te ly p r e c e d in g r e tir e m e n t
tim e s y e a r s o f s e r v ic e .

T r u s te e d ;
E m p lo y e r .
banka d m in is te r e d

F u ll
cost.

T r u s te e d ;
E m p lo y e r a d ­
bankm in is tr a tio n o f
a d m in is te r e d funding.

Both le s s S o c ia l S e c u r ity d is a b ility
b e n e fit.
A t a ge 65, n o r m a l b e n e fit p a y a b le .

Joint and
s u r v iv o r .

15

M onthly— g r e a te r o f: (1) $ 9 0 , o r
(2) $ 3 t i m e s y e a r s o f s e r v ic e .
A t age 65, n o r m a l b e n e fit p a y a b le .

N o rm a l b e n e fit,
p aya ble at
age 65.
L aid o ff and not r e ­
c a lle d w ithin two years
o r te rm in a te d as r e ­
sult o f plant c lo s in g .

D e fe r r e d fu ll.

A g e 40 and 15 y e a r s
o f s e r v ic e .

Joint and
s u r v iv o r
(N o rm a l).

15

M onthly— g r e a t e r o f: (1) $ 7 5 , o r
(2) 1 p e r c e n t o f a v e r a g e m on th ly
ea rn in gs du rin g 120 ca le n d a r m onths
im m e d ia te ly p r e c e d in g r e tir e m e n t
tim e s y e a r s o f s e r v ic e .
B oth le s s S o c ia l S e c u r ity d is a b ility
b e n e fit.
A t a ge 65, n o r m a l b e n e fit p a y a b le .

15

M on th ly— g r e a t e r o f: ( l ) N o rm a l
b e n e fit tim e s 1 .6 5 , o r (2) $ 4 .5 0
tim e s y e a r s o f s e r v ic e .
U pon r e c e iv in g S o c ia l S e c u r ity
d is a b ility b e n e fit, o r w hen e lig ib le
f o r p r im a r y S o c ia l S e c u r ity b e n e ­
fit, n o r m a l b e n e fit p a y a b le .

D e fe r r e d fu ll.
T e r m in a te d f o r any
reason.
A g e 40 and 10 y e a r s
o f s e r v ic e .

M onthly— $ 2 .2 5
tim e s y e a r s o f
s e r v ic e , p a ya b le
at a ge 65. No
c o s t - o f - l i v in g
a d ju stm e n t is
m ade.

70

B ip a rtite a d ­
m in is tr a tio n o f
plan ( s p e c if ic
r e s pons ib ilit ie s
ou tlin ed in
a g r e e m e n t).

4
B a sed on c o m p u te d m on th ly b a s e fig u r e tim e s B I £ C o n s u m e r P r i c e Index o f D e c . 1957 (1 2 1 .6 ) d iv id e d b y 103. 7.
5 T h e se a r e the in itia l m in im u m r e q u ir e m e n ts . H o w e v e r , r e t ir e m e n t at a ge 60 and p r i o r to 65 r e q u ir e s that a w o r k e r have at le a s t 80 p o in ts , a llo w in g 1 poin t f o r e a c h y e a r o f a ge and 1 poin t
f o r e a c h y e a r o f s e r v ic e .




36

SLCE PNI NPAS
EETD ESO LN
ILL U S T R A T IV E MONTHLY PEN SIO N S
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
D ATE O F INFORMATION

P A R T IC I­
PATION
REQ U IR EME NTS

Minimum
requirements
Age

S c o v ill M a n u factu rin g
C om p a n y

65

Service
(Y ea rs)

10

Service
credited
after
normal
age

To
age
70.

Benefit formula

Assuming sveruge nnnual earnings of—
S3,600
84,200
S5.000
and including present primary Social
Security benefits of—

898.50

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e .

A u to m o b ile W o r k e r s

8108.50

8108.50

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

M a r c h 1958

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
in c lu d in g p rim a ry S o c i a l S e c u r it y b e n e f i t s

Minimnm
requirements
Age

60

Benefit formula

Service
(Y ea rs)

10

A t 'w o r k e r 's
r e q u e s t.

N orm a l b e n e fit r e d u c e d
1 /1 8 0 f o r e a ch m onth
under a g e 65, pa y a b le i m ­
m ed ia tely ; o r n o r m a l b e n e ­
fit, pa ya b le at age 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

C a te r p illa r T r a c t o r
C om pa n y

_
_

65

10

To
age
66.

M onthly— g r e a t e r o f: ( l ) $ 2 .2 5 tim e s y e a r s o f s e r v ic e , o r
(2) $ 4 tim e s y e a r s o f s e r v ic e to a m a xim u m o f 25 y e a r s ,
le s s p r im a r y S o c ia l S e c u r it y b e n e fit.

A u to m o b ile W o r k e r s

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 . 00
$ 1 7 6 . 00
$ 1 7 6 . Oo

60

10

A t w o r k e r 's
r e q u e s t.

N o rm a l b e n e fit r e d u c e d V a
o f 1 p e r c e n t f o r e a c h m onth
un d er a ge 65, p aya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a ya b le at a g e 65.

F e b r u a r y 1958
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

In tern ation al H a r v e s te r
C om p a n y

_
_

65

10

To
a ge
68.

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e .

A u to m o b ile W o r k e r s

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 . 75
$ 1 6 4 .7 5
$ 1 6 4 .7 5
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 76< 00

F e b r u a r y 1958

60

10

A t w o r k e r 's
re q u e s t.

N o rm a l b e n e fit r e d u c e d */io
o f 1 p e r c e n t f o r ea ch
m on th u n d er a g e 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, pa ya b le
at a ge 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

H ughes T o o l C om pa n y
(O il T o o l D iv is io n )
Independent M etal
W o r k e r s U nion,
L o c a ls 1 and 2
D e c e m b e r 1957

1 year of
s e r v ic e .

65

_
_

N one.

Y e a r ly — f o r s e r v ic e a ft e r July 31, 1957, 1 .5 p e r c e n t o f
annual e a rn in g s f o r e a c h y e a r o f s e r v i c e ; 5 f o r s e r v ic e p r io r
to A u g. 1, 1957, 1 p e r c e n t o f annual ea rn in g s * f o r e a ch
year of s e r v ic e .3
M in im um m on th ly b e n e fit---- $10 0 f o r 25 o r m o r e y e a r s o f
s e r v ic e , 5 r e d u c e d $5 p e r m onth f o r e a ch y e a r l e s s than 25
to a m in im u m o f $50 f o r 15 y e a r s o f s e r v ic e .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 2 1 1 .0 0
$ 2 3 9 .7 5
$ 2 6 4 .7 5
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 2 3 3 .5 0
$ 2 6 6 .0 0
$ 2 9 6 .0 0

55

_
_

' W ith e m p lo y e r 's co n s e n t.

A c t u a r ia l eq u iv a len t o f
n o r m a l b e n e fit, p a y a b le
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a ya b le at age 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 2 5 6 .0 0
$ 2 9 2 .2 5
$ 3 2 7 .2 5

1 O nly s e r v ic e fr o m Jan. 1 o f y e a r in w h ich w o r k e r attains age 30 u s e d to co m p u te b e n e fit.
2 N ot a p p lic a b le to v e s te d w o r k e r s and w o r k e r s r e t ir e d on e a r ly r e t ir e m e n t . . A ls o , d is a b ility r e t ir e m e n t m u st o c c u r b e tw e e n a g e s 60 and 65 in o r d e r f o r w o r k e r to r e c e iv e death b e n e fit.




37

UDRCLETV BRA I G
NE OLCI E AGI N
N
DISA BILITY RETIR EM E N T
NORMAL
AND E A R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimal*
requirements

Type, conditions,
Benefit formnln

Age

INVOLUNTARY
R E TIR EM E N T

VESTIN G

Service

requirements

Benefit formnln

Compulsory
•1 nge -

M onthly— $ 2 .2 5
tim e s y e a r s o f
s e r v ic e , p a y ­
a b le at a g e 65.

DEATH B E N E F IT S

After
retirement

70

Antomntic
nt nge -

Before
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

(Y e a rs )

15

M onthly— $ 4 . 50 tim e s y e a r s o f
s e r v ic e .
W hen e lig ib le f o r p r im a r y
S o c ia l S e c u r ity b e n e fit, o r at
a g e 65, n o r m a l b e n e fit p a y a b le .

15

M onthly— g r e a t e r o f: ( l ) $ 5 0 , (2) $5
tim e s y e a r s o f s e r v ic e r e d u c e d 1/ i o f
1 p e r c e n t f o r e a ch m onth under
a ge 65, le s s S o c ia l S e c u r ity d is a b il­
ity b e n e fit, o r (3) $ 2 .2 5 tim e s y e a r s
o f s e r v ic e .

D e fe r r e d fu ll.
T e rm in a te d f o r any
rea son .

F u ll
co st.

15

M onthly— $ 4 . 50 tim e s y e a r s o f
s e r v ic e .
U pon r e c e iv in g S o c ia l S e c u r ity
d is a b ilit y b e n e fit, o r when e lig ib le
f o r p r im a r y S o c ia l S e c u r ity b e n e fit,
o r at age 65, n o r m a l b e n e fit
p a ya b le .

Joint and
s u r v iv o r .
L e v e l in ­
c o m e (E a r ly ).

B ip a rtite a d ­
m in is tr a tio n
o f plan ( s p e c i ­
f i c r e s p o n s i­
b ilit ie s ou t­
lin ed in
a g r e e m e n t).

D e fe r r e d fu ll.
T e r m in a te d f o r any
rea son .

M onthly— $ 2 .2 5
tim e s y e a r s o f
s e r v ic e ,1 pay­
a b le at age 65.

66

M onthly— $ 2 .2 5
tim e s y e a r s o f
s e r v ic e ,1 pay­
a b le at a ge 65.

68

66

F u ll b e n e fit
fo r
12 m on th s. *

F u ll
co st.

C om bin ation : E m p lo y e r a d ­
m in is tr a tio n o f
In su red ;
funding.
d e p o s it a d ­
m in is tr a tio n .
B ip a rtite a d ­
T r u s te e d ;
m in is tr a tio n o f
bankplan ( s p e c if ic
ad m in istered . r e s p o n s ib ilit ie s
ou tlin ed in
A ft e r r e ­
a g r e e m e n t).
tirem en t:
In su red , in ­
d ividu al
annuity.

F u ll
co st.

E m p lo y e r a d ­
T r u s te e d ;
bankm in is tr a tio n o f
ad m in istered , funding.

A g e 40 and 10 y e a r s
o f s e r v ic e .

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .

B ip a rtite a d ­
m in is tr a tio n o f
plan ( s p e c if ic
r e s p o n s ib ilit ie s
outlined in
a g re e m e n t).

A g e 40 and 10 y e a r s
o f s e r v ic e .

D e fe r r e d g ra d e d .

N o rm a l b e n e fit,
p a y a b le at a ge 65.

T e rm in a te d f o r any
reason .
25 p e r c e n t v e s te d f o r
10 y e a r s o f s e r v i c e , 5
plus 25 p e r c e n t f o r
e a ch ad d itio n a l
5 y e a r s to 100 p e r c e n t
f o r 25 o r m o r e y e a r s
o f s e r v ic e .

3 E x clu d es p r e m e m b e r s h ip s e r v ic e .
4 Annual ea rn in gs f o r s e r v ic e p r io r to Jan. 1, 1948, b a s e d on ea rn in gs on Jan. 1, 1948.
5 In clu des p r e m e m b e r s h ip s e r v ic e .




T r u s te e d ;
E m p lo y e r a d ­
ban k m in is tr a tio n
a d m in istered . o f funding.

10 y e a r s o f s e r v ic e .

A t a g e 65, n o r m a l b e n e fit p a y a b le .

Join t and
s u r v iv o r .

ADMINISTRATION

Employer

65

F u ll
cost.

In su red;
grou p
annuity.

E m p lo y e r .

38

SLCE PNI NPAS
EETD ESO LN
ILL U S T R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t f o r m u la

EA R LY R E TIR EM E N T

i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
D ATE O F INFORMATION

PATION
REQ U IR E-

Minimum
requirements
Age

A d d ressog ra p h M u ltigra p h C o r p o r a t io n

65

Service
(Y e a rs )

10

Service
credited
after
normal
age

To
age
68.

Benefit formula

M onthly— g r e a t e r o f; ( l ) $ 2 .2 5 tim e s y e a r s o f s e r v ic e to a
m axim u m o f 30 y e a r s , o r (2) $ 4 tim e s y e a r s o f s e r v ic e to a
m axim u m o f 25 y e a r s , le s s p r im a r y S o c ia l S e c u r ity b e n e fit.

\ssuming average annual earnings of—
S3,600
S4.2D0
S5.000
and including present primary Social
Security benefits of—
S98.50
S 108.50
S108.50

A ft e r 25 y e a r s o f fu tu re s e r v ic e ;
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5

M a c h in is ts ; O ffice
E m p lo y e s

A fte r 30 y e a r s o f futu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

D e c e m b e r 1957

Minimum
requirements
Benefit formula
Age

60

Service
(Y ea rs)

10

A t wo:r k e r 's
reque! st or
em p lo y e r 's
req u e st.

N o rm a l b e n e fit re d u c e d
V10 o f 1 p e r c e n t f o r ea ch
m onth tinder age 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, pa y a b le
at a ge 65.

A fte r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

A u tom otiv e T o o l and D ie
M a n u fa ctu rers
A s s o c ia t io n
(D e tr o it, M ich . )

65

10

To
age
70. 2

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e .

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

A u to m o b ile W o rk e rs

65

10

To
age
68.

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e .

A u to m o b ile W o rk e rs
M a r c h 1958

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5
A fte r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0
A fte r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

O nly s e r v ic e fr o m Jan. 1 o f y e a r in w h ich w o r k e r attains age 30 u s e d to com p u te b e n e fit.
A g e 71 p r i o r to June 1, 1958.
N ot a p p lic a b le to w o r k e r r e c e iv in g r e t ir e m e n t b e n e fit un d er v e s tin g p r o v is io n .




60

10

A t wo ir k e r 's
reque st.

N o rm a l b e n e fit re d u ce d
1 /1 8 0 f o r e a ch m onth
u nd er a g e 65, paya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, paya ble at a ge 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$T77TZ"5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

D e c e m b e r 1957

The E l e c t r ic A u to -L it e
C om pa n y

A fte r 2 5 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5

60

10

A t wc ir k e r 's
reque :S t .

N o rm a l b e n e fit red u c e d
V 10 o f 1 p e r c e n t f o r ea ch
m on th un d er a g e 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, p a y a b le at
age 65.

39

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM EN T
NORMAL
AND EA R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

45

15

INVOLUNTARY
RE TIR EM E N T

VESTING

Type, conditions,
and minimum
requirements

Benefit formula

Compulsory
at age -

M onthly— $ 2 .2 5
tim e s y e a r s of
s e r v ic e , 1 p a y ­
ab le at age 65.

DEATH B E N E F IT S

After
retirement

68

Automatic
at age -

Before
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

(Y ea rs)

M onthly— $ 7 5 , le s s S o c ia l S e c u r ity
d is a b ilit y b e n e fit.
A t a g e 65, n o r m a l b e n e fit p a y a b le .

D e fe r r e d fu ll.
T e r m in a te d f o r any
reason .

F u ll
co st.

T r u s te e d ;
E m p lo y e r
s e lfa d m in is tr a tio n
adm inistered. of funding.
B ip a rtite a d ­
m in is tr a tio n
o f plan ( s p e c i ­
f i c r e s p o n s i­
b ilit ie s ou t­
lin ed in
a g r e e m e n t).

A g e 40 and 10 y e a r s
o f s e r v ic e .

Joint and
s u r v iv o r
(N o r m a l).

15

M onthly— g r e a t e r o f: ( l ) $80 , o r
(2) $ 4 .5 0 tim e s y e a r s o f s e r v ic e .
Both le s s S o c ia l S e c u r ity d is a b ility
b e n e fit.

L e v e l in ­
c o m e (E arly).




ADMINISTRATION

Employer

A t age 65, n o r m a l b e n e fit p a y a b le .

15

M onthly— $4 . 50 tim e s y e a r s o f
s e r v ic e .
Upon r e c e iv in g S o c ia l S e c u r ity
d is a b ility b e n e fit, o r at age 65,
n o r m a l b e n e fit p a y a b le .

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .

M onthly— $ 2 .2 5
tim e s y e a r s o f
s e r v ic e , paya ble
at a ge 65.

3 500

*70

A g e 40 and 10 y e a r s
o f s e r v ic e .

D e fe r r e d fu ll.
T e r m in a te d f o r any
reason .
A g e 40 and 10 y e a r s
o f s e r v ic e .

M onthly— $ 2 . 25
tim e s y e a r s o f
s e r v ic e , 1 p a y ­
a b le at a ge 65.

68

68

F u ll
T r u s te e d ;
c o s t ---ban k $ 0 .0 8 6 a d m in istered .
per
m an­
h ou r
w o rk e d .

F u ll
co st.

E m p lo y e r
ad m in is tration
o f funding.
B ip a rtite a d ­
m in is tr a tio n
o f plan.

C om bin ation : E m p lo y e r
a d m in is tra tio n
o f funding.
T r u s te e d ;
banka d m in istered . B ip a rtite a d ­
m in is tr a tio n
In su red;
o f plan ( s p e c i ­
f i c r e s p o n s i­
d e p o s it a d ­
m in is tr a tio n . b ilit ie s ou t­
lin ed in
a g r e e m e n t).

40
SLCE PNI NPAS
EETD ESO LN
IL L U S T R A T IV E MONTHLY PEN SIO N S
NORMAL R E TIR EM E N T

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t f o r m u la
in c lu d in g p rim a ry S o c i a l S e c u r it y b e n e f i t s

COMPANY, UNION, AND
D A TE O F INFORMATION

P A R T IC I­
PATION
RE Q U IR E­
M ENTS

MiaimnM

requirements
Service

Age

R a d io C o r p o r a t io n o f
A m e r ic a

3 years
of

Service
credited
after

Beaefit foraiala

lonaal

(Y e a rs )

M onthly— f o r s e r v ic e a ft e r N ov. 30, 1952, Via o f 40 p e r c e n t
o f w o r k e r 's a g g r e g a te co n trib u tio n s m ad e a ft e r N ov. 30, 1952.

65

F o r s e r v ic e f r o m D e c . 1, 1944, through N ov. 30, 1952,
g r e a t e r o f: ( l ) 8/io o f 1 p e r c e n t o f f i r s t $30 0 o f m on th ly
e a r n in g s , and 2 p e r c e n t o f e a rn in g s e x c e e d in g $ 3 0 0 , o r
(2) b e n e fit b a s e d on a g e a t e n te rin g plan, c o n trib u tio n s and
s e x . F o r s e r v ic e p r i o r to D e c . 1, 1944, V4 o f 1 p e r c e n t o f
f i r s t $ 25 0 o f m on th ly e a rn in g s on N ov. 30, 1944, and
1 .2 5 p e r c e n t o f e a rn in gs e x c e e d in g $ 2 5 0 , tim e s y e a r s o f
s e r v ic e , le s s 3 y e a r s .

E l e c t r ic a l (IB E W );
E l e c t r ic a l (IUE)
D e c e m b e r 1957

AssaMiag average aaaaal e araiags of—
S3,600
84,200
fe.000
aad iacladiag preseat priaury Social
Secarity benefits of—
896.50
8108.50
8108.50

Beaefit fonaata
Service
(Y ea rs)

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 5 8 .5 0
$ 1 7 8 .5 0
$ 2 1 1 .8 3
A ft e r 30 y e a r s o f fu tu re s e r v ic e
$ 1 7 0 .5 0
$ 1 9 2 .5 0
$ 2 3 2 .5 0

W ith e m p lo y ­
e r 's co n s e n t.

A ft e r 35 y e a r s o f fu tu re s e r v ic e

—imrsr $zo^ —
.5o

A c t u a r ia l equ iva len t o f
n o r m a l b e n e fit (m in im u m
n ot a p p lic a b le ), p a y a b le
im m e d ia te ly ; o r n o r m a l
b e n e fit (m in im u m n ot
a p p lic a b le ), p a y a b le at
a g e 65.

wffttt

M in im um m o n th ly b e n e fit— $13 5 f o r 22 o r m o r e y e a r s o f
s e r v i c e , 1 r e d u c e d $ 4 .0 5 f o r e a c h y e a r o f s e r v ic e l e s s than
22 to m in im u m o f $ 7 4 .2 5 f o r 7 y e a r s o f s e r v i c e , 1 le s s
p r im a r y S o c ia l S e c u r it y b e n e fit.

65

W estin g h ou se E l e c t r ic
C o r p o r a tio n

A ll.4

E l e c t r ic a l (IU E)
F e b r u a r y 1958

M onthly— f o r s e r v ic e a ft e r D e c . 31, 1955, $ 2 .2 5 tim e s
y e a r s o f s e r v ic e ; f o r s e r v ic e p r i o r to Jan. 1, 1956, $2
tim e s y e a r s o f s e r v ic e , plus f o r s e r v ic e p r i o r to Jan. 1,
1951, a d d itio n a l 1 p e r c e n t o f a v e r a g e m o n th ly e a rn in g s e x ­
c e e d in g $40 0 fr o m Jan. 1, 1941, throu gh D e c . 31, 1950,
tim e s y e a r s o f s e r v ic e p r i o r to Jan. 1, 1951.

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

60
A t w o r k e r 's
r e q u e s t.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5 - $ 1 8 7 .2 5
$ 1 8 7 .2 5

A m e r ic a n B o s c h A r m a
C o r p o r a t io n
(A r m a D iv is io n )
E l e c t r ic a l (IU E)

A g e 25
and
1 year
of
s e r v ic e .

65

W om en
60

F e b r u a r y 1958

1
2
3
4
5

I

U ntil
the
e a r l ie r
o f a ge
70, *
o r 25
years
of
serv­
ice .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
M onthly— g r e a t e r o f: ( l ) m o n th ly equ iva le n t o f 1 p e r c e n t o f
$ 1 8 6 .0 0
JZTirOO----- $7547 33"
f i r s t $ 3 , 000 o f a v e r a g e annual e a rn in g s 8 during 10 y e a r s
im m e d ia te ly p r e c e d in g r e t ir e m e n t , and 2 p e r c e n t o f e a rn in g s
A ft e r 30 y e a r s o f fu tu re s e r v i c e :
e x c e e d in g $ 3 ,0 0 0 tim e s y e a r s o f s e r v ic e , o r (2) $2 tim e s
y e a rs o f s e r v ic e .*
$ 2 0 3 .5 0
$ 2 4 3 .5 0
$ 2 8 3 .5 0

E x clu d e s p r e m e m b e r s h ip s e r v ic e .
In clu d es p r e m e m b e r s h ip s e r v ic e .
N ot a p p lic a b le in c a s e o f e le c t io n o f jo in t and s u r v iv o r and c a s h refu n d o p tio n s .
S e r v ic e a fte r n o r m a l r e t ir e m e n t a ge cannot b e u s e d to e s ta b lis h e lig ib ilit y f o r b e n e fits .
A g e 69 e f fe c t iv e O ct. 1, 1959, age 68 a ft e r S ept. 30, I960.




A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 2 2 1 .0 0
$ 2 6 6 .0 0
$ 3 1 2 .6 7

55

*0
1

W ith e m p lo y ­
e r ’ s c o n s e n t.

N o r m a l b e n e fit re d u c e d
V10 o f 1 p e r c e n t f o r e a ch
m o n th u n d er a g e 65; plus
(until e lig ib le f o r p r im a r y
S o c ia l S e c u r it y b e n e fit)
$ 4 5 w ith an a d d ition a l $1
f o r e a c h y e a r o f s e r v ic e
e x c e e d in g 10, p a y a b le
im m e d ia te ly .

N o rm a l b e n e fit r e d u c e d V3
o f 1 p e rce n t fo r each
m on th u n d er a g e 65 (age 60
f o r w o m e n ), p a y a b le
im m e d ia t e ly .

41
UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM EN T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Joint and
s u r v iv o r .

Type, conditions.
Benefit formula

Age

60

INVOLUNTARY
RETIR EM E N T

VESTIN G

Service

requirements

Benefit formula

Compulsory
at age -

A c t u a r ia l e q u iv ­
a le n t o f n o r m a l
b e n e fit (b e n e fit
o n ly f o r s e r v ic e
a ft e r N ov. 30,
1944, and m in i­
m um not a p p li­
ca b le ) , paya ble
an ytim e during
1 0 -y e a r p e r io d
p r i o r to a g e 65;
o r norm al b en e­
fit (b e n e fit on ly
f o r s e r v ic e a fte r
N ov. 30, 1944,
and m in im u m not
a p p lic a b le ), p a y ­
ab le at age 65.

65

DEATH B E N E F IT S

Before
retirement

After
retirement

W ork er’s
co n trib u tio n s
plus in t e r e s t .

Automatic
at age -

60 m on th ly
pa ym en ts,
le s s b e n e fits
r e c e iv e d ; i f
60 m on th ly
paym ents do
not equal
w ork er’ s
con trib u tion s
plus in t e r e s t ,
d iffe r e n c e
is paid to
b e n e fic ia r y . 3

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

F.mployer

(Y ea rs)

l 20

N o rm a l b e n e fit (m inim um not a p p li­
c a b le ) w ith m in im u m o f $50 m onthly,
p aya ble im m e d ia te ly .

C a sh refu nd.

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .

A t age 65, n o r m a l b e n e fit p a y a b le .
L e v e l in com e(E arly)L

5 y e a r s o f s e r v ic e . 1

2 p e r c e n t B a la n ce C om bin ation : E m p lo y e r .
o f fir s t
of co st.
$ 8 0 . 77
T r u s te e d ;
ban k o f w e e k ly
ad m in istered .
ea rn in gs
and 5 p e r ­
In su red;
cen t o f
d e p o s it a d ­
ea rn in gs
m in is tr a tio n .
e x c e e d in g
$ 8 0 . 77.

A c t u a r ia l e q u iv ­
A g e 50 and 10 y e a r s
o f s e r v ic e , 1 o r age 55 a le n t o f n o r m a l
b e n e fit (m in i­
and 25 y e a r s o f
m um not a p p li­
s e r v ic e . *
c a b le ) , paya ble
an ytim e during
1 0 -y e a r p e r io d
p r i o r to a ge 65;
or norm al bene­
fit (m inim um not
a p p lic a b le ), p a y ­
a b le at age 65.

Joint and
s u r v iv o r .

15

M onthly— $ 4 .2 5 tim e s y e a r s o f
s e r v ic e , plus f o r s e r v ic e p r i o r to
Jan. 1, 1951, ad d itio n a l 1 p e r c e n t
o f a v e r a g e m on th ly e a rn in g s e x ­
c e e d in g $40 0 fr o m Jan. 1, 1941,
through D e c . 31, 1950, tim e s y e a r s
o f s e r v ic e p r i o r to Jan. 1, 1951, le s s
S o c ia l S e c u r ity d is a b ility b e n e fit.

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .

N o rm a l b e n e fit,
pa ya b le at
a ge 65.

F u ll
cost.

65

E m p lo y e r .
T r u s te e d ;
bankad m in istered ,

F u ll
co st.

E m p lo y e r .
T r u s te e d ;
ban k adm ini s tered.

A g e 40 and 15 y e a r s
o f s e r v ic e .

A t a ge 65, n o r m a l b e n e fit p a y a b le .

Join t and
s u r v iv o r .

M en
65
(7)

P e r io d
c e r ta in .

(*)

W om en
60

L e v e l in ­
c o m e (E arly).

8
7
$25 0; 5
8

A v e r a g e annual e a rn in g s f o r s e r v ic e p r i o r to July 1, 1941, is. b a s e d on w age ra te on July 1, 1941.
In c a s e o f te rm in a tio n f o r any r e a s o n , te rm in a tio n b e n e fit pa y a b le b a s e d on y e a r s o f s e r v ic e a fte r a g e 25 a n d /o r M a r . 31, 1953, w h ic h e v e r is la t e r ; 3 y e a r s o f s u ch s e r v ic e — $ 16 0; 4 y e a r s —
y e a r s — $ 3 6 0 ; 6 y e a r s — $4 9 0 ; 7 y e a r s — $6 4 0 ; 8 y e a r s -----$ 8 1 0 ; . 9 y e a r s — $ 1 ,0 0 0 ; 10 o r m o r e y e a r s — $1 0 0 tim e s y e a r s o f su ch s e r v ic e .
A g e 70 e f fe c t iv e O ct. 1, 1958, a ge 69 e ffe c t iv e O ct. 1, 1959, and a g e 68 a ft e r Sept. 30, I960.




42
SLCE PNI NPAS
EETD ESO LN
ILL U S T R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
in c lu d in g p rim a ry S o c i a l S e c u r it y b e n e f i t s

COMPANY, UNION, AND
DATE O F INFORMATION

PA R T IC I­
PATION
RE Q U IR E­
MENTS

Minimum
requirements
Age

F o r d M o to r C om pa n y

Service
(Y e a rs )

Service
credited
after
normal
age

Benefit formula

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e .

65
age

6.
8

A u to m o b ile W o r k e r s

\ssum ing average annual earnings of—
S3,600
S4.200
*5,000
and including present primary Social
Security benefits of—
S98.50
$108.50
8108.50

A ft e r 25 y e a r s o f fu tu re s e r v ic e
$ 1 5 4 . 75
$ 1 6 4 . 75
$1 6 4 . 75
A ft e r 30 y e a r s o f fu tu re s e r v ic e
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

F e b r u a r y 1958

Minimum
requirements
Age

Benefit formula

Service
(Y ea rs)

60
At w o rk e r’s
r e q u e s t.

N o rm a l b e n e fit r e d u c e d
7s o f 1 p e r c e n t f o r e a c h
m onth un d er age 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, p a ya b le
at age 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

G e n e r a l M o to rs
C o r p o r a tio n

age

6.
8

A u to m o b ile W o r k e r s

M onthly— g r e a t e r o f; ( l ) $ 2 .2 5 tim e s y e a r s o f s e r v ic e , o r
(2 ) $ 4 tim e s y e a r s o f s e r v ic e to a m axim u m o f 25 y e a r s ,
le s s p r im a r y S o c ia l S e c u r ity b e n e fit.

A ft e r 25 y e a r s o f fu tu re s e r v ic e
$ 1 5 4 . 75
$ 1 6 4 . 75
$ 1 6 4 . 75
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

F e b r u a r y 1958

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

6
0

1
0

A t w o r k e r 's
r e q u e s t.

I
60

1
0

A t e m p lo y e r 's
requ est or
u nd er m u tu ally
s a t is fa c t o r y
c o n d itio n s .

B oein g A ir p la n e C om p a n y
M a ch in ists
D e c e m b e r 1957

A g e 30
and
3 years
of
s e r v ic e .

M onthly— $ 1 . 75 tim e s y e a r s o f s e r v i c e , * plus V4 o f 1 p e r ­
ce n t o f m on th ly ea rn in g s o v e r $ 3 5 0 on Jan. 1, 1955,
tim e s y e a r s o f s e r v ic e p r i o r to Jan. 1, 1955.
PLU S
A v a r ia b le b e n e fit f o r w o r k e r s w ith a m o n th ly b a s e ra te o f
m o r e than $ 3 5 0 . A lth ou gh the " t a r g e t " am ount o f this su p ­
p le m e n ta l b e n e fit is 1 .5 p e r c e n t o f m o n th ly b a s e ra te a b o v e
$350 f o r e a c h y e a r o f s e r v ic e a ft e r D e c . 31, 1954, the
a ctu a l am ount w ill be b a s e d on the w o r k e r 's total r e t ir e m e n t
b e n e fit u n its, 3 the valu e o f w h ich w ill v a r y a c c o r d in g to the
tru st fund e x p e r ie n c e , i . e . , m o r ta lit y o f the g ro u p , in c o m e ,
gains and l o s s e s fr o m in v e s tm e n t, e t c .

O nly s e r v ic e fr o m Jan. 1 o f y e a r in w h ich w o r k e r attains age 30 u s e d to co m p u te b e n e fit.
E x clu d e s p r e m e m b e r s h ip s e r v ic e .




y e a r s o f fu tu re s e r v ic e ;
$ 1 4 2 .2 5
$ 1 5 2 .2 5

TT

A ft e r 30 y e a r s o f fu tu re s e r v ic e ;
$ 1 5 1 .0 0
$ 1 6 1 .0 0
(*)
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 5 9 . 75
$ 1 6 9 . 75
(*)

W ith e m p lo y ­
e r 's co n s e n t.

N o rm a l b e n e fit re d u c e d V10
o f 1 p e r c e n t f o r e a ch
m on th un d er a g e 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, p aya ble
at a ge 65.
M onthly— $ 4 .5 0 tim e s
y e a r s o f s e r v ic e , p aya ble
im m e d ia te ly . W hen
e lig ib le f o r p r im a r y
S o c ia l S e c u r ity b e n e fit,
o r at a ge 65, n o r m a l
b e n e fit p a y a b le.

A c t u a r ia l eq u iva len t o f
n o r m a l b e n e fit, p aya ble
im m e d ia te ly .

43
UDRCLETV BRA I G
NE OLCI E AGI N
N
DISA BILITY RETIR EM E N T
NORMAL
AND E A R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formnia
Age

Service

M onthly— $ 4 . 50 tim e s y e a r s o f
s e r v ic e .
U pon r e c e iv in g S o c ia l S e c u r ity
d is a b ilit y b e n e fit, o r at a ge 65,
n o r m a l b e n e fit p a y a b le .

15

M onthly— $ 4 . 50 tim e s y e a r s o f
s e r v ic e .
U pon r e c e iv in g S o c ia l S e c u r ity
d is a b ility b e n e fit, o r w hen e lig ib le f o r
p r im a r y S o c ia l S e c u r ity b e n e fit, o r
at a g e 65, n o r m a l b e n e fit p a y a b le .

L e v e l in ­
c o m e (E a r ly ).

Type, conditions.
requirements

Benefit formula

Compulsory
at age -

M onthly— $ 2 .2 5
tim e s y e a r s o f
s e r v ic e ,1 pay­
ab le at a ge 65.

68

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y e a rs )

15

Joint and
s u r v iv o r .

INVOLUNTARY
RETIR EM E N T

VESTIN G

D e fe r r e d fu ll.
T e r m in a te d f o r any
reason .

F u ll
cost.

B ip a rtite
a dm in is tra tion
o f plan ( s p e c i ­
f i c r e s p o n s i­
b ilit ie s ou t­
lin ed in
a g r e e m e n t).

A g e 40 and 10 y e a r s
o f s e r v ic e .

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .

M onthly— $ 2 .2 5
tim e s y e a r s o f
s e r v ic e ,1 pay­
a b le at a ge 65.

68

F u ll
cost.

T e rm in a te d f o r any
reason .
Y e a rs o f
fu ture
s e r v ic e *
a fte r
(D e c . 31,
1954)
5
6
7
8
9

T r u s te e d ;
E m p lo y e r
bankad m in istration
adm inistered. o f funding.
B ip a rtite a d ­
m in is tr a tio n
o f plan (s p e c i ­
f i c r e s p o n s i­
b ilit ie s ou t­
lin ed in
a g r e e m e n t).

A g e 40 and 10 y e a r s
o f s e r v ic e .

D e fe r r e d g ra d e d .

T r u s te e d ;
E m p lo y e r
ban ka d m in is tr a tio n
a d m in istered , o f funding.

A c t u a r ia l e q u iv ­
a len t o f n o r m a l
b e n e fit, paya ble
an ytim e during
1 0 -y e a r p e r io d
p r i o r to age 65;
o r norm al ben e­
fit, p a ya b le at
a ge 65.

65

F u ll
co st.

T r u s te e d ;
E m p lo y e r .
ban k a d m in istered .

P ercent
v e s te d
45
60
75
90
100

B e n e fits f o r s e r v ic e *
p r io r to Jan. 1, 1955,
a r e v e s te d f o r w o rk e r
age 55 o r o ld e r on
sam e b a s is .

3 A n e x a m p le o f how b e n e fit unit is ca lcu la te d is as fo llo w s (fo r a m o n th ly b a s e ra te o f $ 4 5 0 ): ( l ) 1 .5 p e r c e n t o f m on th ly b a s e rate e x c e e d in g $ 3 5 0 s $ l . 50, the " t a r g e t '1 m on th ly su p p lem en tal
future s e r v ic e b e n e fit f o r y e a r ; (2) valu e o f unit f o r y e a r (b a se d on tru st fund p o s itio n f o r that p e r io d ) is d e te rm in e d to b e $ 1 ; r e t ir e m e n t b e n e fit unit c r e d it f o r that y e a r eq u a ls ( l ) d iv id ed b y (2) o r
1 .5 0 . Upon r e t ir e m e n t , th ese r e t ir e m e n t b e n e fit unit c r e d it s a r e to ta le d and m u ltip lie d b y c u r r e n t valu e o f r e t ir e m e n t b e n e fit unit and a d ju sted on a s e m i-a n n u a l b a s is th ereafter*
4 See n o r m a l b e n e fit fo r m u la .




44
SLCE PNI NPAS
EETD ESO LN
ILL U S T R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
DATE O F INFORMATION

PA R T IC IPATION
REQ U IR EME NTS

Minimum
requirements
Age

B en dix A v ia tio n
C o r p o r a t io n

65

Service
(Y ea rs)

10

credited
after

ri f

,

■ge
To
age
68.

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e .

A u to m o b ile W o r k e r s

Assuming average annual earnings of—
83,600
84,200
85,000
and including present primary Social
Security benefits of—
898.50
8108.50
8108.50

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 6 .0 0
$ 1 7 6 .0 0
$ 1 7 6 .0 0

F e b r u a r y 1958

Minimum
requirements

Benefit formula

Service

Age

(Y e a rs )

60

10

At w o r k e r 's
r e q u e s t.

N o rm a l b e n e fit r e d u c e d
5/g o f 1 p e r c e n t f o r ea ch
m onth un d er a g e 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, p aya ble
at a ge 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

D ou gla s A i r c r a ft
C om p a n y, Inc.

_
_

65

10

A u to m o b ile W o r k e r s ;
M a c h in is ts
M a r c h 1958

D ra v o C o r p o r a tio n
M a rin e and S hipbu ilding
W orkers
F e b r u a r y 1958

3 years
of
s e r v ic e .

3 65

_

To
age
68.

M onthly— $ 1 . 75 tim e s y e a r s o f s e r v ic e to a m a xim u m o f
30 y e a r s . P lu s f o r s e r v ic e a fte r N ov. 30, 1955, Via o f
1. 5 p e r c e n t o i p r o d u c t o f ( l ) h o u rs w o rk e d du rin g y e a r , not
to e x c e e d 2, 080, and (2) e x c e s s o f w o r k e r 's b a s ic w age rate
o v e r a ra te d e te r m in e d b y d ivid in g 2, 080 into m axim u m
am ount o f e a rn in gs s u b je c t to S o c ia l S e c u r ity tax (c u r r e n tly
$ 4 , 200 an n u ally), f o r e a c h y e a r o f s e r v ic e to a m axim u m o f
30 y e a r s . F o r s e r v ic e p r i o r to D e c . 1, 1955, Via °* V4 o f
1 p e r c e n t o f p r o d u c t o f ( l ) 2, 080, and (2) e x c e s s o f la s t b a s ic
h o u rly ra te p r i o r to D e c . 1, 1955, o v e r $ 2 .0 2 p e r h o u r,
tim e s y e a r s o f s e r v ic e p r i o r to D e c . 1, 1955, w h ich , w hen
added to s e r v ic e a ft e r N ov. 30, 1955, d o e s not e x c e e d
30 y e a r s .

N o n e .3 .Y e a r ly — f o r s e r v ic e a ft e r D e c . 31, 1954, 1 p e r c e n t o f
annual e arn in gs s u b je c t to S o c ia l S e c u r ity tax (c u r r e n tly
$4, 200), and 1 .5 p e r c e n t o f e a rn in g s e x c e e d in g su ch
am ount f o r e a ch y e a r o f s e r v i c e ; 4 f o r s e r v ic e fr o m July 1,
annual e a r n in g s ,5 and 1 .5 p e r c e n t o f e a rn in gs e x c e e d in g
$ 3 , 000 f o r e a ch y e a r o f s u ch s e r v i c e ; 4 f o r s e r v ic e p r io r
to July 1, 1950, V4 o f 1 p e r c e n t o f f ir s t $ 4 ,2 0 0 o f annual
e arn in gs 5 and 1 .2 5 p e r c e n t o f ea rn in g s e x c e e d in g $ 4 ,2 0 0 ,
tim e s y e a r s o f su ch s e r v ic e (e x clu d in g f ir s t 3 y e a r s ).

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 4 2 .2 5
$ 1 4 2 .2 5
k $ l6 7 .0 0
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 5 0 .0 0
$ 1 5 0 .0 0
* $ 1 7 9 . 70
A ft e r 35 y e a r s o f futu re s e r v ic e :
$ 1 5 0 .0 0
$ 1 5 0 .0 0
* $ 1 7 9 . 70

1

or
60 |

N o rm a l b e n e fit r e d u c e d
V iq o f 1 p e r c e n t f o r each
m on th un d er age 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, paya ble
at age 65.

10

_
_
55
A c t u a r ia l equ ivalen t o f
n o r m a l b e n e fit (m inim um
A t w o r k e r 's
n ot a p p lic a b le ), paya ble
r e q u e s t.
im m e d ia te ly ; o r n o r m a l
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
1950, through0 D e c . 31, 1954, 1 p e rb e n e fitf (m in im u m 0noto f
c
t o f i r s t $ 3 ,0 0
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 2 0 1 .0
a p p lic a b le ), pa y a b le at
a g e 65.
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 6 1 .0 0
$ 1 7 1 .0 0
$ 1 7 8 .5 0

$ 1 7 3 .5 0

$ 1 8 8 .5 0

$ 2 2 3 .5 0

L e s s $ 4 2 . 50 f o r p r im a r y S o c ia l S e c u r ity b e n e fit.

O nly s e r v ic e fr o m Jan. 1 o f y e a r in w h ich w o r k e r attains age 30 u s e d to co m p u te b e n e fit.
C om pu ta tion b a s e d on a s s u m p tio n o f 2, 080 h o u rs w o rk e d d uring e a c h y e a r .
N o rm a l r e t ir e m e n t date f o r a m e m b e r a ge 56 o r o ld e r on July 1, 1950, is the e a r l ie r o f a ge 70, o r 10 y e a r s a ft e r h is b irth d a y p r i o r to July 1, 1950.
E x clu d e s p r e m e m b e r s h ip s e r v ic e .
Annual ra te b a s e d on e a rn in g s o f July 1, 1950, o r a v e r a g e annual e a rn in g s o f 1947, 1948 and 1949, w h ic h e v e r is h ig h e r .




15

W ith e m p lo y ­
e r 's co n s e n t.

M in im um m on th ly b e n e fit f o r 15 o r m o r e y e a r s o f s e r v ic e , 6
$ 2 .5 0 tim e s y e a r s o f s e r v ic e to a m a xim u m o f 30 y e a r s .

1
a
3
4
5

60

A t w o r k e r 's
r e q u e s t.

45
UDRCLETV BRA I G
NE OLCI E AGI N
N
DISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Benefit formnls

Compulsory
at age -

M onthly— $ 2 .2 5
tim e s y e a r s o f
s e r v ic e ,1 pay­
a b le at a ge 65.

DEATH B E N E F IT S

FINANCING
MEDIUM
O F FUNDING

68

Antomntic
at oge •

Before
retirement

After
retirement

Employee

M onthly— $ 4 . 50 tim e s y e a r s o f
s e r v ic e .
U pon r e c e iv in g S o c ia l S e c u r ity
d is a b ility b e n e fit, o r at a ge 65,
n o r m a l b e n e fit p a y a b le .

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .

F u ll
cost.

D e fe r r e d g ra d e d .

N o rm a l b e n e fit,
pa ya b le at
a ge 65.

68

F u ll
cost.

T e rm in a te d f o r any
reason .
A g e 50 and 10 y e a r s
o f s e r v ic e . 4

A c tu a r ia l e q u iv ­
a len t o f n o r m a l
b e n e fit (m in i­
m um not a p p lic ­
a b le ), p aya ble
an ytim e during
1 0 -y e a r p e r io d
p r io r to a ge 65;
o r n orm al b en e­
fit (m inim um
not a p p lic a b le ),
paya ble at
age 65.

7 65

W ork er’ s
W orker’ s
co n trib u tio n s co n trib u tio n s
plus in t e r e s t . p lu s in t e r e s t ,
le s s b e n e fits
r e c e iv e d .

3 p e r c e n t B a lan ce
o f annual o f c o s t .
ea rn in gs
s u b je c t
to S o c ia l
S e c u r ity
tax ( c u r ­
r e n tly
$ 4 ,2 0 0 ) ,
and
4. 5 p e r ­
cen t o f
ea rn in gs
exceed­
ing su ch
am ount.

6 In clu des p r e m e m b e r s h ip s e r v ic e .
7 C o m p u ls o r y r e t ir e m e n t date f o r m e m b e r a ge 56 o r o ld e r on July 1, 1950, is the e a r l ie r o f a g e 70, o r 10 y e a r s a ft e r h is b ir th d a y p r i o r to July 1, 1950.




T r u s te e d ;
E m p lo y e r
banka d m in is tr a tio n
a dm in istered. o f funding.
B ip a rtite a d ­
m in is tr a tio n
o f plan ( s p e c i ­
f i c r e s p o n s i­
b ilit ie s ou t­
lin ed in
a g r e e m e n t).

A g e 40; 50 p e r c e n t
v e s te d f o r 10 y e a r s
o f s e r v ic e , plus
10 p e r c e n t f o r e a ch
ad d itio n a l y e a r to
100 p e r c e n t f o r 15
o r m ore years of
s e r v ic e .

D e fe r r e d fu ll.

T r u s te e d ;
E m p lo y e r
banka d m in is tr a tio n
a d m in is te re d o f fu n din g.
B ip a rtite a d ­
m in is tr a tio n
o f plan ( s p e c i ­
f i c r e s p o n s i­
b ilit ie s ou t­
lin ed in
a g r e e m e n t).

A g e 40 and 10 y e a r s
o f s e r v ic e .

T e rm in a te d f o r any
rea son .

Joint and
s u r v iv o r .

ADMINISTRATION

Employer

(Y e a rs )

15

Join t and
s u r v iv o r .

Type, conditions.
requirements

Service

INVOLUNTARY
RETIR EM E N T

VESTIN G

T r u s te e d ;
E m p lo y e r .
banka d m in is tered

46

SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PEN SIO N S
NORMAL R E TIR EM E N T

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
D ATE O F INFORMATION

P A R T IC I­
PATION
RE Q U IR E­
MENTS

Minimum
requirements
Age

Service
(Y ea rs)

P u llm a n -S ta n d a rd C a r
M anufa ctu rin g
C om pa n y

Service
credited
after
normal
age

A ll.

S te e lw o r k e r s

Benefit formula

M onthly— g r e a t e r o f: ( 1 ) 1 p e r c e n t o f a v e r a g e m on th ly e a r n ­
ings during 120 m onths im m e d ia te ly p r e c e d in g r e t ir e m e n t
tim e s y e a r s o f s e r v ic e , le s s $85 f o r p r im a r y S o c ia l S e c u r ity
b e n e fit, o r (2) $ 2 . 50 tim e s y e a r s o f s e r v ic e a ft e r A u g . 31,
1958, and $ 2 .4 0 tim e s y e a r s o f s e r v ic e p r i o r to Sept. 1,
1958, to a m axim u m o f 30 y e a r s .

S e p te m b e r 1958 1

M a c h in is ts , D is t r ic t 9
O cto b e r 1957

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 6 1 .0 0
$ 1 7 1 .0 0
$ 1 7 1 .0 0
A ft e r 30 y e a r s o f fu tu re s e r v i c e :
£ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0

Minimum
requirements
Benefit formula
Service

Age

(years;

60
A t w o r k e r 's
re q u e s t.

A c t u a r ia l equ ivalen t o f
n o r m a l b e n e fit, p aya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, p aya ble at a g e 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0

A g e 30
S p erry G y roscop e
C om pany
(25 f o r
(D iv is io n o f S p e r r y Rand w o m e n )
and
C o r p o r a tio n )
2 years
E le c t r ic a l (IUE)
of
s e r v ic e .
Jan u ary 1958

V a rio u s e m p lo y e r s ,
St. L o u is , M o ., a r e a

\ssum ing average annual earnings of—
83,600
84,200
85,000
and including present primary Social
Security benefits of—
898.50
8108.50
8108.50

1 year of
s e r v ic e .

Y e a r ly — f o r s e r v ic e a ft e r Jan. 1, 1949: (1) 1 p e r c e n t o f
annual e a rn in gs f o r e a ch y e a r o f s e r v ic e , 3 plus (2) 1 p e r c e n t
o f annual ea rn in g s e x c e e d in g am ou n t s u b je c t to S o c ia l
S e c u r ity tax (c u r r e n t ly $ 4 ,2 0 0 ) f o r e a ch y e a r o f s e r v ic e .

6 om en
5I
W
60

65

F o r s e r v ic e fr o m M a y 1, 1941, through D e c. 31, 1948,
1 p e r c e n t o f annual ea rn in g s f o r e a ch y e a r o f s u ch s e r v ic e ;
f o r s e r v ic e p r i o r to M ay 1, 1941, V4 o f 1 p e r c e n t o f annual
e a rn in gs 4 f o r e a c h y e a r o f su ch s e r v i c e . 5

(9
)

N one}0 M onthly— $ 2 . 50 tim e s y e a r s o f s e r v ic e during w h ich c o n trib u tio n s w e re m ade in w o rk e r* s b e h a lf, plus $2 tim e s
y e a r s o f s e r v ic e to a m a x im u m o f 10 y e a r s p r i o r to date
w o r k e r b e c a m e c o v e r e d b y the plan.
M in im um m on th ly b e n e fit— $ 2 0 .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :

— £173750 '$196.00------$229.33'

M en
55

I

35

A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 8 8 .5 0
$ 2 1 3 .5 0
$ 2 5 3 .5 0
A fte r 35 y e a r s o f fu tu re s e r v i c e :
$ 2 0 3 .5 0
$ 2 3 1 .0 0
$ 2 7 7 .6 7

A c t u a r ia l equ ivalen t of
n o r m a l b e n e fit, p aya ble
im m e d ia t e ly ; o r n o r m a l
b e n e fit, p a ya b le at age 65.

At w o rk e r ’ s
r e q u e s t.

A ft e r 25 y e a r s o f fu tu re s e r v ic e
$ 1 6 1 .0 0
$ 1 7 1 .0 0
$ 1 7 1 .0 0
A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 7 3 .5 0
$ 1 8 3 .5 0
$ 1 8 3 .5 0
A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 8 6 .0 0
$ 1 9 6 .0 0
$ 1 9 6 .0 0

1 M o d ifie d plan to b e c o m e e f fe c t iv e S ept. 1, 1958.
2 M ay 1 o r N ov. 1 fo llo w in g su ch s e r v ic e .
3 E x clu d e s p r e m e m b e r s h ip s e r v ic e .
4 A v e r a g e annual e a rn in g s f o r 5 y e a r s p r e c e d in g Jan. 1, 1941.
5 E x clu d e s s e r v ic e p r i o r to age 35 (age 30 f o r w o m e n ) o r 1 y e a r o f s e r v ic e , w h ic h e v e r is la t e r .
6 A w o r k e r m a y e le c t to r e c e iv e a lum p sum paym en t equal to 2 . 5 p e r c e n t o f annual e a rn in g s p lu s in t e r e s t f o r e a ch y e a r o f plan s e r v ic e in stea d o f th es e b e n e fits . A w o r k e r w ith le s s than 5 y e a r s
o f plan s e r v ic e m a y c h o o s e a lum p sum paym en t equal to 2 . 5 p e r c e n t o f annual e a rn in gs plus in t e r e s t f o r e a ch y e a r o f plan s e r v ic e o r a b e n e fit p u r c h a s e d b y s u ch su m , p a y a b le a n ytim e d u rin g 1 0 -y e a r
p e r io d p r i o r to age 65, o r p aya ble at a g e 65.




47
UDRCLETV BRA I G
NE OLCI E AGI N
N
DISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

INVOLUNTARY
RETIR EM E N T

VESTIN G

Type, conditions,
and minimum
requirements

Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Pmployee

ADMINISTRATION

Employer

(Y ea rs)

15

M onthly— g r e a t e r o f: ( l ) $ 9 0 , le s s
S o c ia l S e c u r ity d is a b ilit y b e n e fit,
( 2 ) 1 p e r c e n t o f a v e r a g e m on th ly
e a rn in gs during 120 m onths im m e d i­
a te ly p r e c e d in g r e tir e m e n t tim e s
y e a r s o f s e r v ic e , le s s $85 f o r
S o c ia l S e c u r ity d is a b ility b e n e fit, o r
in W o r k m e n ’ s C o m p e n s a tio n c a s e s ,
a ctu a l S o c ia l S e c u r ity b e n e fit if
le s s than $ 8 5 , o r (3) $ 2 . 50 tim e s
y e a r s o f s e r v ic e a ft e r A u g. 31, 1958,
and $ 2 .4 0 tim e s y e a r s o f s e r v ic e
p r io r to Sept. 1, 1958, to a m a x i­
m um o f 30 y e a r s .

D e fe r r e d fu ll.
T e rm in a te d as r e s u lt
o f a la y o ff and not r e ­
c a lle d w ithin 3 y e a r s ,
o r te rm in a te d as r e ­
sult o f p e rm an en t
shutdow n o f plant, d e ­
p artm en t o r
s u b d iv is io n .

N o rm a l b e n e fit,
paya ble at
a ge 65.

F u ll
cost.

In su red ;
E m p lo y e r .
d e p o s it a d ­
m in is tr a tio n .

F u ll
cost.

In su red ;
grou p
annuity.

A g e 40 and 15 y e a r s
o f s e r v ic e .

A t age 65, n o r m a l b e n e fit p a y a b le .

Joint and
s u r v iv o r .
Level
in c o m e .

D e fe r r e d fu ll.
T e rm in a te d f o r any
rea son .
A g e 30 and 5 y e a r s o f
s e r v ic e . 3

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .
15 y e a r s o f s e r v i c e . 11

A c t u a r ia l e q u iv ­
alen t o f n o r m a l
b e n e fit, paya ble
an ytim e during
1 0 -y e a r p e r io d
p r io r to age 65;
or norm al ben e­
fit, p aya ble at
age 65. 8

N o rm a l b e n e fit,
p a y a b le at
age 65.

2. 5 p e r c e n t
o f annual
ea rn in gs
plus
in t e r e s t . 3

2. 5 p ercen t
o f annual
ea rn in gs plus
in t e r e s t , 3
le ss r e t ir e ­
m en t b e n e ­
fits r e c e iv e d .7

E m p lo y e r .

(8 )

60 m on th ly
p a y m e n ts ,
le s s p a y ­
m ents
r e c e iv e d .

In su red ;
F u ll
T r ip a r t it e .
c o s t ---d e p o s it a d ­
$ 1 7 . 35 m in is tr a tio n .
per
m onth
f o r ea ch
p a r tici­
pant.

7 E x clu d es b e n e fits b a s e d on p a r t (2) o f n o r m a l b e n e fit fo r m u la .
8 Not a p p lic a b le if jo in t and s u r v iv o r op tio n is e le c t e d .
9 5 y e a r s o f p a r ticip a tio n in the plan, the f i r s t y e a r o f w h ich m u st be w ith a con trib u tin g e m p lo y e r . A ft e r o n c e qu a lify in g as a p a r ticip a n t, k eep in g m e m b e r s h ip in g ood standing in union fu lfills
r e q u ir e m e n t a s p a rticip a n t.
10 S e r v ic e c r e d it e d a fte r age 65 o n ly to attain m in im u m s e r v ic e r e q u ir e m e n t f o r n o r m a l r e t ir e m e n t b e n e fit.
11 15 y e a r s o f s e r v ic e during w h ich co n trib u tio n s w e re m ade in w o r k e r ’ s b e h a lf.




48
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
D A T E O F INFORMATION

PA R T IC I­
PATION
RE Q U IR E­
MENTS

Minimvn
requirements
Age

K en n ecott C o p p er
C o r p o r a t io n (W e ste r n
M in in g D iv is io n s )

Service

Assuming average annual earnings of—

Service
credited
after
tormal

$3,600

Benefit formula

age

6.
8

M onthly— $ 2 .2 5 tim e s y e a r s o f s e r v ic e to a m a xim u m o f
35 y e a r s .

O cto b e r 195 7

60

M onthly— $ 100.

Benefit formula
Service

$108.50

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 5 4 .7 5
$ 1 6 4 .7 5
$ 1 6 4 .7 5

(Y ea rs)

60

A c t u a r ia l equ iva len t o f
n o r m a l b e n e fit, p a y a b le
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a y a b le a t a g e 65.

A ft e r 25 y e a r s o f fu tu re s e r v ic e ;
$ 1 9 8 .5 0 $ 2 0 8 .5 0
$ 2 0 8 .5 0
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 9 8 .5 0 $ 2 0 8 .5 0
$ 2 0 8 .5 0

U nited M ine W o r k e r s
O cto b e r 195 7

D e c e m b e r 1957

$108.50

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 7 7 .2 5
$ 1 8 7 .2 5
$ 1 8 7 .2 5

B itu m in ou s c o a l
in d u s try , v a r io u s
e r p p lo y e r s

V a rio u s unions

$5,000

A ft e r 30 yrears o f fu tu re s e r v ic e
-----$ 1 6 6 . (T ------------------------- $ 1 7 6 . 00
O $ 1 7 6 .0 0

V a rio u s unions

P an A m e r ic a n
P e t r o le u m C o r p o r a tio n

$4,200

and including present primary Social
Security benefits of—

$98.50

(Y e a rs )

65

EA R LY R E T IR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
in c lu d in g p rim a ry S o c i a l S e c u r it y b e n e f i t s

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 9 8 .5 0 $ 2 0 8 . 50
$ 2 0 8 .5 0

1 year of
s e r v ic e

*65

Y e a r ly — f o r s e r v ic e a ft e r O ct. 31, 1957, 1 .5 p e r c e n t o f
annual e a rn in g s s u b je c t to S o c ia l S e c u r ity tax (c u r r e n t ly
$ 4 ,2 0 0 ) and 2 p e r c e n t o f e a rn in g s e x c e e d in g su ch am ount f o r
e a ch y e a r o f s e r v i c e . 4

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
$ 2 1 1 .0 0
$ 2 3 9 .7 5
$ 2 7 3 .0 8

A ft e r 30 y e a r s o f fu tu re s e r v i c e ;
$ 2 3 3 .5 0
$ 2 6 6 .0 0
$ 3 0 6 .0 0
F o r e a c h y e a r o f s e r v ic e fr o m July 1, 1952, th rou gh O ct. 31,
1957, 1 p e r c e n t o f f i r s t $ 1 ,2 0 0 o f annual e a r n in g s , 1. 5 p e r ­ A ft e r 35 y e a r s o f fu tu re s e r v i c e :
cen t o f next $ 2 ,4 0 0 o f e a r n in g s , and 2 p e r c e n t o f e a rn in g s
$ 2 5 6 .0 0
$ 2 9 2 .2 5
$ 3 3 8 .9 2
e x c e e d in g $ 3 , 600; f o r e a c h y e a r o f s e r v ic e fr o m July 1,
1947, th rough June 30, 1952, 1 p e r c e n t o f f i r s t $ 1 ,5 6 0 o f
annual e a r n in g s , 1 .3 3 3 p e r c e n t o f next $ 1 ,4 4 0 o f e a r n in g s ,
and 2 p e r c e n t o f e a rn in g s e x c e e d in g $ 3 , 000; f o r e a c h y e a r o f
s e r v ic e fr o m Jan. 1, 1939, th rou gh June 30, 1947, a c c r u e d
b e n e fit u nd er c o n tr ib u to r y plan plus su p p lem en t to b r in g
b e n e fit up to July 1, 1947, th rou gh June 30, 1952, fo rm u la ;
f o r s e r v ic e p r i o r to Jan. 1, 1939, a m o n th ly b e n e fit o f
2 p e r c e n t o f the g r e a t e r o f: ( l ) A v e r a g e m o n th ly e a rn in gs
fr o m 1936 through 1938, o r (2) a v e r a g e m on th ly e a rn in gs
during 10 y e a r s p r e c e d in g Jan. 1, 1939, tim e s y e a r s o f
s e r v ic e .

W ith e m p lo y ­
e r ’ s co n s e n t.

I

_<?r
*55

” 25

.A t w o r k e r 's
re q u e s t.

N o rm a l b e n e f i t 7 (m in i­
m um b a s e d on s e r v ic e not
a p p lic a b le ) r e d u c e d 3 . p e r ­
cen t f o r e a c h y e a r under
a g e 65 th rough 60, 7 p e r ­
cen t f o r e a c h y e a r tinder
a g e 60 th rough 55, and
a c t u a r ia lly f o r e a c h y e a r
un d er a g e 55, p a y a b le
im m e d ia te ly ; o r n o r m a l
b e n e fit (m in im u m b a s e d
on s e r v ic e not a p p lic a b le ),
p a ya b le at a ge 65.

M in im um m o n th ly b e n e fit f o r 10 o r m o r e y e a r s o f s e r v i c e : 5
( l ) B a s e d on s e r v ic e — $3 tim e s y e a r s o f s e r v ic e to a m a x im um o f 2$ y e a r s , plus $5 tim e s y e a r s o f s e r v ic e e x c e e d in g
25 y e a r s , o r (2) b a s e d on t e r m in a l e a r n in g s — 1. 666 p e r c e n t
o f a v e r a g e m o n th ly ea rn in g s o f 60 c o n s e c u tiv e m onths o f
h ig h e s t ea rn in g s du rin g 120 m on th s im m e d ia te ly p r e c e d in g
r e t ir e m e n t tim e s y e a r s o f s e r v ic e (m a xim u m 60 p e r c e n t o f
60 m onth a v e r a g e ), l e s s p r im a r y S o c ia l S e c u r it y b e n e fit.

1
m en t in
a
5
4
5

20 y e a r s o f s e r v ic e in a c la s s if ie d jo b in in d u s try d uring 30 y e a r s im m e d ia t e ly p r e c e d in g date o f a p p lic a tio n . W o r k e r m u st have b e e n r e t ir e d a ft e r M ay 28, 1946, fo llo w in g r e g u la r e m p lo y ­
a c la s s i f ie d jo b f o r an e m p lo y e r s ig n a to r y to the a g r e e m e n t, and r e g u la r ly e m p lo y e d in a c la s s i f ie d jo b in in d u s try im m e d ia te ly p r i o r to date fund w as e s ta b lis h e d (M a y 29, 1946).
E m p lo y e r s c o n trib u te $ 0 .4 0 p e r ton o f c o a l p r o d u c e d to U nited M in e W o rk e r* s W e lfa r e and R e tir e m e n t Fund f o r health, w e lfa r e and p e n s io n b e n e fits .
W om en c o v e r e d b y plan on June 30, 1952, m a y e le c t to r e t ir e at a g e 60 w ith fu ll b e n e fit.
E x clu d e s p r e m e m b e r s h ip s e r v ic e .
In clu d es p r e m e m b e r s h ip s e r v ic e .




49

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY R ETIR EM EN T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Type, conditions.
Benefit formula

Age

INVOLUNTARY
RETIR EM E N T

VESTIN G

Service

requirements

Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

F.mployer

(Y e a rs )

M onthly— $ 9 0 , le s s o n e -h a lf S o c ia l
S e c u r ity d is a b ility b e n e fit.

F u ll
co st.

68

E m p lo y e r .
T r u s te e d ;
banka d m in is te r e d

F u ll
co st. a

15

T r u s te e d ;
T r ip a r t it e .
s e lfad m in istered

At age 65, n o r m a l b e n e fit p a y a b le .

Joint and
s u r v iv o r .
L e v e l in ­
c o m e (E a r ly )

N o rm a l b e n e fit re d u c e d 3 p e r c e n t
f o r e a c h y e a r under age 65 through
60, 7 p e r c e n t f o r e a ch y e a r under
age 60 through age 55, and
a c t u a r ia lly f o r e a ch y e a r un d er
age 55, p a ya b le im m e d ia te ly ; plus
(fo r 10 o r m o r e y e a r s o f s e r v ic e ) an
am ount equal to p r im a r y S o c ia l
S e c u r ity b e n e fit f o r w h ich w o r k e r
w ould be e lig ib le at a g e 65, paya ble
until a g e 65, le s s S o c ia l S e c u r ity
d is a b ility b e n e fit.
M in im um m on th ly b e n e fit f o r 10 o r
m o r e y e a r s o f s e r v ic e : ( l ) Sam e
as n o r m a l m in im u m b a s e d on
s e r v ic e , plus su pplem en t d e s c r ib e d
a b o v e , o r (2) sam e as n o r m a l
m in im u m b a s e d on te r m in a l earnings;
p r io r to age 65, le s s S o c ia l S e c u r ity
d is a b ility b e n e fit.

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .
10 y e a r s o f s e r v i c e . 5

A c t u a r ia l e q u iv ­
alen t o f n o r m a l
b e n e f i t 8 (m in im u m s not a p ­
p lic a b le ), p a y ­
a b le an ytim e
p r io r to a ge 65;
or norm al bene­
f i t 8 (m in im u m s
not a p p lic a b le ),
paya ble at
age 65.

65

70

W ork er’ s
W orker’s
co n trib u tio n s con trib u tion s
plus in t e r e s t . plus in t e r e s t ,
le s s b e n e fits
r e c e iv e d .*

2 . 7 p e r ­ B a la n ce
of cost.
cen t o f
annual
ea rn in gs
s u b je c t
to S o c ia l
S e c u r ity
tax ( c u r ­
r e n tly
$ 4 ,2 0 0 )
and
4 percen t
o f earn ­
in gs e x ­
cee d in g
su ch
am ount.

C om b in a tion : E m p lo y e r .
T r u s te e d ;
ban k a d m in is te r e d
In su red;
d e p o s it a d ­
m in is tr a tio n .

8
In itial m in im u m a g e r e q u ir e m e n t is 55 and w o r k e r m a y r e t ir e i f sum o f age plus s e r v ic e equ a ls o r e x c e e d s 80 (in clu d e s p r e m e m b e r s h ip s e r v ic e ) .
7
A t a ge 65, m in im u m b e n e fit b a s e d on te r m in a l e a r n in g s , l e s s p r im a r y S o c ia l S e c u r ity b e n e fit.
* E x ce p t that b e n e fits b a s e d on s e r v ic e p r i o r to Jan. 1, 1939, and s u p p le m e n ta ry b e n e fits p ro v id e d f r o m . Jan. I, 1939, th rou gh T
un* 30, 1947, (s e e n o r m a l b e n e fit f o r m u la ) a r e 5 0 p e r c e n t v e s te d f o r
10 y e a r s o f s e r v ic e , plus 5 p e r c e n t f o r e a ch a d d itio n a l y e a r to 100 p e r c e n t f o r 20 o r m o r e y e a r s o f s e r v ic e .
* B en efits r e c e iv e d not in clu d in g su p p lem en tal p a y m e n ts.




50
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
D ATE O F INFORMATION

PA R T IC I­
PATION
REQ U IR E­
MENTS

Minimum
requirements
Age

Service
(Y ea rs)

Service
credited
after
normal
age

Benefit formula

M onthly— $ 1 .5 0 tim e s y e a r s o f s e r v i c e 1 a fte r D e c. 31, 1955;
and $1 tim e s y e a r s o f s e r v ic e p r i o r to Jan. 1, 1956, to a
m axim u m o f 25 y e a r s f o r su ch s e r v ic e .

C o n s tr u c tio n in d u stry ,
v a r io u s e m p lo y e r s
(New Y o rk , N. Y . )

Assuming average annual earnings of—
83,600
84,200
85,000
and including present primary Social
Security benefits of—
898.50
8108.50
8108.50

Minimum
requirements

Benefit formula

Service
(Y e a rs )

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$1 4 6 . 00

TT

TT

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
H
(*5
$ 1 5 3 . 50

C a rp e n te rs (New Y o r k
D is t r ic t C ou n cil)

A ft e r 35 y e a r s o f fu tu re s e r v ic e :

(*
)

D e c e m b e r 1957

C o n s tr u c tio n in d u stry ,
N ational E le c t r ic a l
C o n tr a c t o r s A s s o c ia t io n
and oth er e m p lo y e r s

EA R LY R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

65

E le c t r ic a l (IB EW )
N ational plan

(*
f

$16 0
1.0

M onthly— f o r w o r k e r s r e in s ta te d o r in itia te d as " A " m e m b e r ! A ft e r 25 y e a r s o f fu tu re s e r v ic e :
o r t r a n s fe r r e d to " A " m e m b e r s h ip a ft e r A p r . 30, 1952, $30
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0
f o r 20 y e a r s o f s e r v ic e , $40 f o r 25 y e a r s , and $50 f o r
30 y e a r s ; f o r w o r k e r s in itia te d o r r e in s ta te d as H " m e m b e r s A ft e r 30 y e a r s o f fu tu re s e r v ic e :
A
p r io r to M ay 1, 1952, $50 f o r 20 y e a r s o f s e r v ic e .
$ 1 4 8 .5 0
$ 1 5 8 .5 0
$ 1 5 8 .5 0
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 4 8 .5 0
$ 1 5 8 .5 0
$ 1 5 8 .5 0

N o v e m b e r 1957

(4
)
A ft e r 25 y e a r s o f fu tu re s e r v ic e :
M onthly— a g e s 60 th rou gh 64, o r a ge 65 and o ld e r but not
e lig ib le f o r In tern ation al U nion P e n sio n — $ 7 0 . A g e 65 and
o ld e r and e lig ib le f o r In tern a tion a l U nion P e n sio n — $ 20 0, 7
le s s In tern ation al U nion P e n s io n and p r im a r y S o c ia l S e c u r ity A ft e r 30 y e a r s o f fu tu re s e r v ic e :
b e n e fit; paym en t fr o m fund at a g e . 65 not to e x c e e d $70 o r be
le s s than $ 4 0 .
A ft e r 35 y e a r s o f fu tu re s e r v ic e :

C o n s tr u c tio n in d u stry ,
New Y o r k E le c t r ic a l
C o n tr a c t o r s A s s o c ia t io n
and oth er e m p lo y e r s

T)

T)

E le c t r ic a l (IB EW ),
L ocal 3

---------- ------ P--------------'5

Jan u ary 1958

A s s o c ia t io n o f M a s te r
P a in te r s and D e c o r a t o r s
o f the C ity of
N ew Y o r k , Inc.
P a in t e r s , D is t r ic t
C o u n c il 9
O cto b e r 1957

65

M onthly— $ 50.

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 4 8 .5 0
$ 1 5 8 .5 0
$ 1 5 8 .5 0
A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 4 8 .5 0
$ 1 5 8 .5 0
$ 1 5 8 .5 0
A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 4 8 .5 0

$ 1 5 8 .5 0

$ 1 5 8 .5 0

1 25 y e a r s o f s e r v ic e in in d u s try . S e r v ic e in clu d e s ( l ) em p lo y m e n t w ith co n trib u tin g e m p lo y e r s (b a se d on Vio o f a y e a r f o r e a c h $500 o f g r o s s ea rn in g s du rin g c a le n d a r y e a r to a m axim u m o f
1 y e a r s e r v ic e during any 1 c a le n d a r y e a r ) a fte r D e c . 31, 1955, and (2) p r io r to Jan. 1, 1956, e m p lo y m e n t w ithin ju r is d ic t io n o f New Y o r k C ity C o u n cil, o r m e m b e r s h ip in g ood standing in union, if
co n tr ib u tio n s w e r e m ad e in w o r k e r 's b e h a lf during 1956. W o r k e r s w ho w e r e o v e r a ge 65 on Jan. 1, 1956, q u a lify f o r p a s t s e r v ic e e v e n though not em p lo y e d b y a con trib u tin g e m p lo y e r in 1956.
a See n o r m a l b e n e fit fo r m u la , fo o tn o te 1.
3 20 y e a r s as an " A " union m e m b e r in good standing im m e d ia te ly p r e c e d in g a p p lic a tio n f o r r e t ir e m e n t . A n " A " m e m b e r is one w ho c o n tr ib u te s to u n io n 's p e n s io n fund.
4 A m ou n ts show n a r e f o r w o r k e r w ho b e c a m e an " A " m e m b e r a fte r A p r . 30, 1952. F o r a w o r k e r w ho w as an " A " m e m b e r p r io r to M ay 1, 1952, plan b e n e fit is $50 f o r 20 y e a r s o f s e r v ic e .
5 If w o r k e r is e m p lo y e d b y a n o n co n trib u tin g e m p lo y e r , co n trib u tio n is $ 3 .2 0 . F o r m e m b e r s on w ith draw al c a r d , if e m p lo y e d b y a n on con trib u tin g e m p lo y e r , c o n trib u tio n is $ 3 .8 0 , o r i f not
w ork in g o r e m p lo y e r is payin g tow a rd the fund, co n trib u tio n is $ 2 .2 0 .
4 15 y e a r s in g ood standing in lo c a l union p r e c e d in g a p p lic a tio n f o r r e tir e m e n t.




51

UDRCLETV BRA I G
NE OLCI E AGI N
N
DISA BILITY RE TIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Type, conditions.
Benefit formula

Age

INVOLUNTARY
R E TIR EM E N T

VESTIN G

Service

requirements

Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y ea rs)

T r u s te e d ;
F u ll
B ip a r tite .
cost—
— s e lf3 p er­
adm in istered.
cen t o f
gross
p a y r o ll.

9 10

M onthly— $ 70.

1 per­
cen t o f
gross
p a y r o ll
of "A "
union
m em ­
bers.

B ip a r tite .
T r u s te e d ;
s e lfadm in istered ,

F u ll
c o s t ---1 p er­
cen t o f
w e e k ly
p a y r o ll.

B ip a r tite .
T r u s te e d ;
s e lfadm inistered.

F u ll
c o s t .1
1

$ 1 .6 0
per
m on th . *

B ip a r tite .
T r u s te e d ;
s e lfadm inistered-

7 $210 f o r th ose r e t ir in g a fte r D e c. 31, 1959, $22 0 a fte r D e c . 31, 1964, and $230 a ft e r D e c. 31, 1969.
8 See n o r m a l b e n e fit fo rm u la colu m n .
9 10 y e a r s in g ood standing in lo c a l union p r e c e d in g a p p lic a tio n f o r r e tir e m e n t.
10 20 y e a r s o f s e r v ic e in tr a d e . S e r v ic e in c lu d e s ( l ) em p lo y m e n t w ith co n trib u tin g e m p lo y e r s a fte r July 31, 1948, (2) e m p lo y m e n t w ithin ju r is d ic t io n o f lo c a l unions in D is t r ic t C o u n c il p r io r to
Aug. 1, 1948, and (3) tim e as union m e m b e r in g ood standing p r i o r to Jan. 1, 1947.
1 E m p lo y e r s co n trib u te to a g e n e r a l fund f o r w e lfa r e , p e n s io n , and v a ca tio n b e n e fits as f o llo w s : A ug. 1, 1956, through July 31, 1957 - 8 p e r c e n t o f g r o s s e a rn in g s o f c o v e r e d w o r k e r s ; A u g. 1,
1
1957, through July 31, 1958 - 9 p e r c e n t o f g r o s s ea rn in gs o f c o v e r e d w o r k e r s ; A u g. 1, 1958, through July 31, 1959 - 10 p e r c e n t o f g r o s s ea rn in gs o f c o v e r e d w o r k e r s .




52

SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
DATE O F INFORMATION

P A R T IC I- “
PATION
REQ U IR EMENTS

Minimum
requirements

Age
C o n s tr u c tio n in d u stry ,
P lu m b in g C o n tr a c to r s
A s s o c ia t io n o f C h ic a g o
a r e a , and oth er e m ­
p lo y e r s (C h ica g o , III. )

_
_

Service
(Y e a rs )

115

65

\ssum ing average annual earnings of—
83,600
84,200
85,000
and including present primary Social
Security benefits of—

Service
credited
after
normal
age

A ll.

898.50

M on th ly— $2 tim e s y e a r s o f s e r v ic e .

300
h o u r s .5

65

6 10

A ll.

M onthly— $2 tim e s y e a r s o f s e r v ic e to a m axim u m o f $ 5 0 .
$ 1 4 8 .5 0
$ 158. 50
$ 1 5 8 . 50

A ft e r 25 y e a r s o f fu tu re s e r v ic e ;
$ 1 4 8 .5 0
$ 1 5 8 .5 0
$ 1 5 8 .5 0

A ft e r 25 y e a r s o f fu tu re s e r v ic e ;
A ft e r 30 y e a r s o f fu tu re s e r v ic e ;
$ 1 4 8 .5 0

P lu m b e r s , L o c a l 38

Age
_
_

Benefit formula

Service
(Y ea rs)

_

__

$ 1 5 8 .5 0

60

6 10

A t w o r k e r 's
reque st.

$ 1 5 8 .5 0

A ft e r 35 y e a r s o f fu tu re s e r v ic e ;
$ 1 4 8 .5 0
$ 1 5 8 .5 0
$ 1 5 8 .5 0

N o v e m b e r 1957

in d u stry ,
C o n tr a c t o r s
o f N ew Y o r k
and o th e r

8108.50

A ft e r 35 y e a r s o f fu tu re s e r v ic e ;
$ 1 6 8 .5 0
$ 1 7 8 .5 0
$ 1 7 8 .5 0

O cto b e r 1957

C o n s tr u c tio n
Sh eet M eta l
A s s o c ia t io n
C ity, In c. ,
e m p lo y e r s

8108.50

Minimum
requirements

A ft e r 30 y e a r s o f fu tu re s e r v ic e ;
$ 1 5 8 .5 0
$ 1 6 8 . 50
$ 1 6 8 .5 0

P lu m b e r s , L o c a l 130

C o n s tr u c tio n in d u stry ,
v a r io u s e m p lo y e r s ,
San F r a n c is c o ,
C a lif. , a r e a

EARL.Y R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

_
_

65

7 15

A ll.

M onthly— $ 4 7 f o r 25 o r m o r e y e a r s o f s e r v ic e , r e d u c e d
p r o p o r t io n a t e ly f o r 15 o r m o r e but l e s s than 25 y e a r s o f
s e r v ic e .

A ft e r 25 y e a r s o f fu tu re s e r v ic e ;
$ 1 4 5 .5 0
$ 1 5 5 .5 0
$ 1 5 5 .5 0

_
_

_
_

58

3

M onthly— l e s s e r of:
(1) $2 tim e s y e a r s o f
s e r v ic e , o r (2) $ 5 0 tim es
r a tio o f (a) n u m b er o f
y e a r s fr o m date f i r s t
c o v e r e d b y plan to date of
e a r ly r e tir e m e n t, to
(b) n u m ber o f y e a r s fr o m
date f i r s t c o v e r e d b y plan
to age 65; p aya ble at
a ge 65, o r a c tu a r ia l
eq u iva len t p r i o r to age 65.

_
_

A ft e r 30 y e a r s o f fu tu re s e r v ic e ;
$ 1 4 5 .5 0
$ 1 5 5 .5 0
$ 1 5 5 .5 0

Sheet M etal W o r k e r s ,
L o c a l 28

A ft e r 35 y e a r s o f fu tu re s e r v ic e ;
$ 1 4 5 .5 0
$ 1 5 5 .5 0
$ 1 5 5 .5 0

O cto b e r 1957

C h ic a g o T r a n sit A u th o rity
S tr e e t, E l e c t r ic R a ilw a y
and M o to r C oa ch
E m p lo y e s
Jan uary 1958

1
p lo y e r s
a
3
4
5

___

65

3

N one.

M onthly— f o r s e r v ic e a ft e r M a y 31, 1949, 1 .5 p e r c e n t o f
total e a rn in g s (not to e x c e e d $ 1 0 , 000 in an y y e a r ), f o r s e r v ­
ic e p r i o r to June 1, 1949, 1 p e r c e n t o f annual r a t e * o f past
s e r v ic e tim e s y e a r s o f su ch s e r v ic e ; d iv id e d b y 12.
M in im um m o n th ly b e n e fit f o r 20 o r m o r e y e a r s o f s e r v ic e —
$75.

A ft e r 25 y e a r s o f futu re s e r v ic e :
$ 2 1 1 .0 0
$ 2 3 9 . 75
$ 2 6 4 . 75
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 2 3 3 . 50
$ 2 6 6 .0 0
$ 2 9 6 .0 0

N o rm a l b e n e fit r e d u c e d
5 p ercen t fo r each yea r
u n d er a g e 65, paya ble
im m e d ia te ly .

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 2 5 6 .0 0
$ 2 9 2 .2 5
$ 3 2 7 .2 5

15 y e a r s o f s e r v ic e in c r a ft (e x clu d in g y e a r o f r e t ir e m e n t ) and e m p lo y e d 3, 000 h o u rs during 5 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t .
a ft e r M ay 31, 1953, and (2) em p lo y m e n t in c r a ft w ithin a b a rg a in in g unit o f union p r i o r to June 1, 1953.
P e r m a n e n tly d is a b le d . Sam e as fo o tn o te 1.
T o ta lly and p e r m a n e n tly d is a b le d . Sam e as fo o tn o te 1.
Y e a rs o f s e r v ic e as de fin e d in fo o tn o te 1.
300 h ou rs w o rk e d f o r a co n trib u tin g e m p lo y e r fr o m July 1 through June 30, in o r d e r to b e c o m e a m e m b e r on July 1 fo llo w in g .




A t wcJ rk er's
reque ist.

S e r v ic e in clu d e s ( l ) e m p loy m en t w ith con trib u tin g e m ­

53

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY R E TIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements

Joint and
s u r v iv o r
(N orm a l),

Type, conditions,
Benefit formula

Service

Age

INVOLUNTARY
R E TIR EM E N T

VESTIN G

requirements

Benefit formula

Compulsory
nt age -

Automatic
■ t age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y ea rs)

60

*15

M onthly— $2 tim e s y e a r s o f
s e r v ic e .

cr

50

D e fe r r e d g ra d e d .
T e r m in a te d f o r any
rea son .

N o rm a l b e n e fit
fo rm u la a p p lie s ,
p aya ble at
age 65.

*15

'
5 p e r c e n t v e s te d f o r
10 y e a r s o f s e r v i c e , 4
plus 5 p e r c e n t f o r
e a c h a d d itio n a l y e a r
to 100 p e r c e n t f o r 29
o r m ore years of
s e r v ic e .

F u ll
T r u s te e d ;
B ip a r tite .
c o s t ---bank$ 0 . 15
a d m in is te r e d
per
m an­
h ou r
w o rk e d .

F u ll
co st—
$ 0 . 10
per
m an­
h ou r
w o rk e d .

55

7 15
c>r

F u ll
c o s t ---3 p er­
cen t o f
gross
w ages.

M onthly— $ 2 2 . 50.
A t age 65, n o r m a l b e n e fit p a y a b le .

®20

10

N o rm a l b e n e fit, p aya ble
im m e d ia te ly .
M in im um m on th ly b e n e fit— $75 .

65

A ft e r 1 y e a r
o f p a r t ic ip a ­
tion , w o r k ­
e r ’ s c o n t r i­
bu tion s plus
in t e r e s t .

W ork er’ s
co n trib u tio n s
plus in t e r e s t ,
le s s b e n e fits
r e c e iv e d .

3. 5 p e r ­
cen t of
fir s t
$ 1 0 ,0 0 0
o f annual
e a r n in g s .

In su red ;
B ip a r tite .
d e p o s it a d ­
m in is tr a tio n .

T r u s te e d ;
B ip a r tite .
s e lfa d m in is te r e d

7 per­
T r u s te e d ;
B ip a r tite .
bankce n t o f
ad m in istered .
fir s t
$ 1 0 , 000
of w ork ­
er’s
annual
e a r n in g s

4 10 y e a r s o f s e r v ic e in in d u s try . S e r v ic e in c lu d e s ( l ) e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s a ft e r D e c . 31, 1954, and (2) e m p lo y m e n t in in d u s try p r i o r to Jan. 1, 1955.
7 15 y e a r s o f s e r v ic e in tra d e and e m p lo y e d b y co n trib u tin g e m p lo y e r s 4 q u a rte r s s in c e Jan. 1, 1950. S e r v ic e in c lu d e s ( l ) e m p lo y m en t w ith con trib u tin g e m p lo y e r s a ft e r A u g. 31, 1950, (2) e m ­
p loy m en t fr o m Jan. 1, 1947, through A u g. 31, 1950, w ith e m p lo y e r s w ho co n trib u te d to w e lfa r e fund, and (3) tim e as un ion m e m b e r in g ood standing, o r e m p loy m en t in jo b c o v e r e d b y u n ion ’ s c o lle c t iv e
ba rga in in g a g r e e m e n ts p r i o r to Jan.^ 1, 1947.
8 20 y e a r s o f s e r v ic e in tr a d e .
9
F o r h o u rly ra te d w o r k e r s — a v e r a g e annual e a rn in gs (not to e x c e e d $ 1 0 ,0 0 0 in any y e a r ) o f o cc u p a tio n a l g ro u p (i. e . $ 3 , 700 f o r bus d r i v e r s , m o to r m e n , and c o n d u c t o r s ) in w h ich w o r k e r b e ­
lon g ed to o r w as c la s s if ie d in on M ay 31, 1948; f o r s a la r ie d w o r k e r s — total e a rn in g s (not to e x c e e d $ 1 0 , 000 in any y e a r ) fr o m June 1, 1947, through M ay 31, 1948.




54

SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIONS
NORMAL R E TIR EM E N T
COMPANY, UNION, AND
D ATE O F INFORMATION

P A R T IC I­
PATION
REQ U IR E­
MENTS

Minimum
requirements
Service

Age

P h ila d elp h ia T r a n s ­
p o r ta tio n Company-

65

(Y e a rs )

M en
I

Service
credited
after
normal
age

A ll.
25

T ra n sp ort W ork ers
Jan uary 1958

T ru ck in g in d u stry, l o c a l
c a r ta g e and o v e r - t h e ro a d fre ig h t, v a r io u s
a s s o c ia tio n s and
in d ivid u al e m p lo y e r s ,
C e n tr a l S tates, South­
e a s t and Southw est
areas
T ea m sters
M a rch 1958

W om en
25

5
5
o

30
2

M onthly— g r e a t e r o f: ( l ) $50 f o r 25 y e a r s o f s e r v ic e , and
$1 tim e s y e a r s o f s e r v ic e e x c e e d in g 25 y e a r s to a m axim u m
o f $7 5 , plus $10 to w o m e n until a ge 62, o r (2) $ 16 0, le s s
p r im a r y S o c ia l S e c u r ity b e n e fit (not a p p lic a b le f o r w om en
r e t ir in g p r i o r to age 65).

(•
)

60

Benefit formula

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

\ssuming average annual earnings of—
S3,600
S4.200
S5.000
and including present primary Social
Security benefits of—
S98.50
S 108.50
S108.50

EA R LY R E TIR EM E N T
Minimum
requirements
Benefit formula
Age

Service
(Y ea rs)

A fte r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 6 0 .0 0
$ 1 6 0 .0 0
$ 1 6 0 .0 3
A fte r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 6 0 .0 0
$ 1 6 3 .5 0
$ 1 6 3 .5 0
A ft e r 35 y e a r s o f futu re s e r v ic e :
$ 1 6 0 .0 0
$ 1 6 8 .5 0
$ 1 6 8 .5 0

A ll.

M onthly— $90 f o r f i r s t 60 m onths and $ 2 2 . 50 th e r e a fte r .

A ft e r 25 y e a r s o f fu tu re s e r v i c e :

4$ 9
0.00 $ 90.0 $ 9 0
0
0.0
5 $ 1 8 8 . 50

$ 1 9 8 .5 0

$ 1 9 8 .5 0

A ft e r 30 y e a r s o f futu re s e r v i c e :

4$ 9 0 $ 90.0 $ 9 .0
0.0
0
00
* $ 1 8 8 .5 0

$ 1 9 8 .5 0

$ 1 9 8 .5 0

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
4 $ 9 0 .0 0
$ 9 0 .0 0
$ 9 0 .0 0
* $ 1 8 8 .5 0
$ 1 9 8 .5 0
$ 1 9 8 .5 0

1 W ork ers aged 70 o r o ld e r w ith le s s than 25 but m o r e than 15 y e a r s o f s e r v ic e r e c e iv e a m on th ly b e n e fit o f $2 tim e s y e a r s o f s e r v ic e .
2 C om pa n y m a y r e q u ir e a w o r k e r w ith 25 y e a r s o f s e r v ic e to r e t ir e on p e n s io n at age 68 f o r m e n and at age 58 f o r w om en .
3 20 y e a r s o f s e r v ic e in in d u stry in clu d in g 5 y e a r s o f s e r v ic e in in d u stry under u n ion 's c o ll e c t iv e b a rg a in in g a g r e e m e n ts , and co n tr ib u tio n s m ade in w o r k e r 's b eh a lf f o r 80 w e e k s .
S e r v ic e in clu d e s ( l ) e m p lo y m e n t w ith con trib u tin g e m p lo y e r s , and (2) p a s t e m p lo y m e n t in in d u s try in a jo b c o v e r e d b y u n io n 's c o lle c t iv e b a rg a in in g a g r e e m e n t.
4 The m on th ly b e n e fit show n is f o r a w o r k e r r e t ir in g at a ge 60. The b e n e fit con tin u es f o r 60 m onths and then is r e d u c e d to $ 2 2 .5 0 , at w h ich tim e the w o r k e r w ou ld b e e lig ib le f o r p r im a r y
S o c ia l S e c u r ity b e n e fit.




55

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM EN T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

INVOLUNTARY
RE TIR EM E N T

VESTIN G

Type, conditions,
and minimum
requirements

Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y e a r s )

M onthly— $ 2 tim e s y e a r s o f s e r v ic e
to a m a xim u m o f 2 5 y e a r s , and $ 1
tim e s y e a r s o f s e r v ic e e x c e e d in g
2 5 y e a r s , plus an ad d itio n a l $ 1 0 .

F u ll
cost.

Not funded.

C ont r ibu tion s
m ad e in
w o r k e r 's b e ­
h a lf to a
m axim u m o f
$ 2 , 000.

F u ll
c o s t ---$2 p e r
w ork er
per
w eek .

B ip a r tite .
T r u s te e d ;
s e lfa d m in istered .

( 8)

15

( 9)

(*)

E m p lo y e r .

M in im um m on th ly b e n e fit— $ 6 0 .
U pon r e c e iv in g S o c ia l S e c u r ity
d is a b ility b e n e fit o r p r im a r y S o c ia l
S e c u r ity b e n e fit, the $ 1 0 a dd ition al
b e n e fit and am ount, if any, n e e d e d to
b rin g p e n s io n to m in im u m ( $ 6 0 ) is
r e d u c e d b y am ount b y w h ich c o m ­
b in ed p e n s io n and S o c ia l S e c u r ity
d is a b ility b e n e fit o r p r im a r y S o c ia l
S e c u r ity b e n e fit e x c e e d s $ 1 6 0 .

45

6 15

A lum p sum equal to total c o n tr ib u ­
tions m ade in w o r k e r 's b e h a lf to a
m axim u m o f $ 2 ,0 0 0 .

(7)

(7 )

5 The m onthly b en efit show n in clu d e s $ 9 0 fr o m fund plus p r im a r y S o c ia l S e c u r ity b e n e fit fo r a w o rk e r r e t ir in g at age 65. The m onthly b en efit fr o m fund w ill be r e d u c e d f r o m $90 to $22 . 50 at
the end o f 60 m on th s.
6 15 y e a r s o f s e r v ic e in in d u stry in clu d in g 5 y e a r s o f s e r v ic e in in d u stry under u n ion 's c o ll e c t iv e ba rga in in g a g r e e m e n ts , and c o n tr ib u tio n s m ade in w o r k e r 's b eh a lf f o r 40 w e e k s .
7 C o m p u ls o r y and au tom atic r e tir e m e n t at age 70 fo r a w o r k e r who is q u a lifie d fo r a n o r m a l b e n e fit. W o r k e r s not q u a lifie d m ay contin ue to w o r k a fte r age 70 if p h y s ic a lly a b le.
8 W o r k e r m ust have 10 y e a r s o f s e r v ic e in in d u stry in clu d in g 5 y e a r s o f s e r v ic e in in d u stry under union's c o ll e c t iv e ba rga in in g a g r e e m e n ts , and co n tr ib u tio n s m ade in w o r k e r 's b eh a lf
fo r 40 w eek s.
9 C o m p le te d n e gotiation s r a is e d c o n trib u tio n rate to $ 3 p e r w o r k e r p e r w eek e ffe c t iv e F e b . 1, 1958, and $ 4 p e r w o r k e r p e r w e e k e ffe c t iv e F eb . 1, I960. A t the tim e this d ig e s t w ent to
p r e s s , oth er ch an ges had not b e e n w o rk e d out.




56

SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

EA R LY R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
in c lu d in g p rim a ry S o c i a l S e c u r it y b e n e f i t s

COMPANY, UNION, AND
D ATE O F INFORMATION

PA R T IC I­
PATION
RE Q U IR E­
MENTS

Minimum
requirements
Age

T ru ck in g , w a reh ou s in g ,
and o th e r in d u s tr ie s ,
v a r io u s a s s o c ia tio n s
and e m p lo y e r s ,
W e s te rn States

65

T e a m s t e r s (W este rn
C o n fe r e n c e )
F e b r u a r y 1958

M a r itim e in d u stry,
v a r io u s e m p lo y e r s ,
A tla n tic and G ulf
C oa s ts
M a s t e r s , M ates and
P ilo ts

Service
(Y ea rs)

()
l

Assuming average annual earnings of—

Service
credited
after
normal

83,600

Benefit formula

ae
8

(*
)

898.50

M a ritim e U nion

85.000

8108.50

Minimum
requirements
Benefit formula
Age

Service
(Y e a rs )

fu tu re s e r v ic e :
50
$1 8 3 . 50
fu tu re s e r v i c e ;
50
$1 8 3 . 50
fu tu re s e r v ic e :
50
$ 1 8 3 . 50

M axim u m — $ 75 tim e s quota ra tin g. 3

65

60
M onthly— $10 0 f o r 20 o r m o r e y e a r s o f s e r v ic e , re d u c e d $5 A ft e r 25 y e a r s o f fu tu re s e r v i c e :
p e r m onth f o r e a ch y e a r o f s e r v ic e le s s than 20 to. a m in im u m
$ 1 9 8 .5 0
$ 2 0 8 .5 0
$ 2 0 8 .5 0
o f $75 f o r 15 y e a r s o f s e r v ic e .
A t w o r k e r 's
A fte r 30 y e a r s o f fu tu re s e r v ic e : r e q u e s t.
$ 1 9 8 .5 0
$ 2 0 8 .5 0
$ 2 0 8 .5 0

N o rm a l b e n e fit r e d u c e d */a
o f 1 p e r c e n t f o r e a ch
m onth u n d er a g e 65, p a y ­
a b le im m e d ia te ly ; o r
n o r m a l b e n e fit, p a y a b le at
a ge 65.

A ft e r 35 y e a r s o f fu ture s e r v i c e :
$ 1 9 8 .5 0
$ 2 0 8 . 50
$ 2 0 8 .5 0

M on th ly 1
$ 4 9 .0 0
52. 00
55. 50
5 9 .0 0
6 2 .0 0
6 5 .0 0

Y e a r s o f s e r v ic e
15
16
17
18
19
20 o r m o r e

D e c e m b e r 1957

New Y o r k Shipping
A s s o c ia t io n , In c.

8108.50

A ft e r 25 y e a r s o f
M onthly— f o r s e r v ic e a ft e r A p r . 30, 1955, 1. 6 p e r c e n t o f
total co n trib u tio n s m ad e in w o r k e r ’ s b e h a lf; f o r s e r v ic e fr o m
5 $1 7 3 .5 0
$1 8 3 .
Jan. 1, 1937, through A p r . 30, 1955, $3 tim e s y e a r s o f su ch
s e r v ic e a fte r age 44, and $2 f o r s u ch s e r v ic e p r io r to age 45, A ft e r 30 y e a r s o f
tim e s quota ra tin g 3 (if e m p lo y e d on date e m p lo y e r c o m ­
5 $ 1 7 3 . 50
$183.
m e n c e d co n trib u tin g to plan , o r i f e m p lo y e d on M ay 1, 1955,
b y e m p lo y e r w ho c o m m e n c e s co n trib u tin g to plan p r i o r to the A ft e r 35 yea:r s o f
e a r l ie r o f M ay 1, I9 6 0 , o r w o r k e r ’ s r e t ir e m e n t ).
5 $ 1 7 3 . 50
$1 8 3 .

F e b r u a r y 1958

M a r itim e in d u stry,
v a r io u s e m p lo y e r s ,
A tla n tic and G ulf
C o a s ts

84,200

and including present primary Social
Security benefits of—

A ft e r 2 5 y e a r s o f fu tu re s e r v ic e :
$ 1 6 3 .5 0
$ 1 7 3 .5 0
$ 1 7 3 .5 0
A ft e r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 6 3 .5 0
$ 1 7 3 .5 0
$ 1 7 3 .5 0

A t w o r k e r 's
r e q u e s t.

N o rm a l b e n e fit re d u c e d
6 p ercen t fo r each yea r
un d er age 65 w hen b e n e fit
b e g in s , pa ya b le an ytim e
p r i o r to a g e 65; o r n o r m a l
b e n e fit, p a y a b le at age 65. *

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 6 3 .5 0
$ 1 7 3 . 50
$ 1 7 3 .5 0

A fte r 25 y e a r s o f fu tu re s e r v i c e :
$ 1 6 3 .5 0
$ 1 7 3 .5 0
$ 1 7 3 .5 0

M onthly— $ 6 5 .

In tern a tion a l L o n g s h o r e ­
m e n 's A s s o c ia t io n

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 6 3 .5 0
$ 1 7 3 . 50
$ 1 7 3 .5 0

N o v e m b e r 1957

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 6 3 . 50
$ 1 7 3 . 50
$ 1 7 3 . 50

1
i

600 c o v e r e d h o u rs (h ou rs f o r w h ich co n trib u tio n s w e r e m ad e in w o r k e r ’ s b e h a lf) in a p e r io d o f 2 c o n s e c u t iv e y e a r s , 2 y e a r s s in c e f i r s t c o v e r e d h o u r , and a b e n e fit o f at le a s t $ 1 0 .
L a te r o f: (1) A g e 70, o r (2) date 2 y e a r s s in c e f i r s t c o v e r e d h o u r .
3 The qu ota ra tin g is de fin e d as ( l ) am ount o f e m p lo y e r co n trib u tio n s m a d e in w o r k e r ’ s b e h a lf, d iv id e d b y (2) $ 0 . 10 tim e s a quota (s m a lle r o f 47, 000, o r 125 tim e s n u m b er o f m onths fr o m M ay 1
1955, to a ge 65, w ith a m in im u m o f 600 plu s 50 tim e s n u m b e r o f m on th s, not to e x c e e d 48, fr o m M ay 1, 1888, to date o f b ir th ). The quota ratin g is 1 .0 0 f o r a w o r k e r in w h os e b e h a lf the' con trib u tion
ra te w as $ 0 . 10 p e r h o u r f o r 125 o r m o r e h o u rs p e r m onth fr o m M ay 1, 1955, to r e t ir e m e n t d ate. In the event the c o n tr ib u tio n ra te e x c e e d s $ 0 . 10 p e r h o u r , b e n e fits i n c r e a s e p r o p o r tio n a te ly .
S p e c ia l p a st s e r v ic e c r e d it is a llo w e d f o r e m p lo y m e n t fr o m Jan. 1, 1937, through A p r . 30, 1955, p e r fo r m e d a ft e r age 44, w ith e m p lo y e r w ho w as then c o v e r e d , o r b e c o m e s c o v e r e d b y u n ion ’ s
c o ll e c t iv e b a r g a in in g a g r e e m e n ts p r i o r to the e a r l ie r o f M ay 1, I960, o r w o r k e r ’ s r e t ir e m e n t u n d er plan.
3 C om pu ta tion b a s e d on a s s u m p tio n o f 2, 080 h o u rs w o rk e d du rin g e a ch y e a r , co n tr ib u tio n ra te o f $ 0 . 10 p e r h ou r f o r e a c h y e a r o f fu tu re s e r v ic e , qu ota ra tin g o f 1.00, and m a x im u m b e n e fit o f $75.
T e r m in a tio n b e n e fit f o r 15 o r m o r e y e a r s o f s e r v ic e w ith 3, 000 c o v e r e d h o u rs (in lie u o f v e s te d p e n sio n f o r a w o r k e r a ge 52 o r o ld e r ) equal to s m a lle r o f (1) 30 p e r c e n t o f e m p lo y e r c o n t r ib u ­
tio n s , o r (2) $90 0 tim e s quota ra tin g b a s e d on a quota o f 3 0 ,0 0 0 h o u r s .
7 W o r k e r q u a lifie d f o r r e t ir e m e n t is r e t ir e d u n d er the plan at a ge 70.
8 W ith 15 o r m o r e y e a r s o f s e r v ic e and 3 ,0 0 0 c o v e r e d h o u r s .
9 15 y e a r s o f s e r v ic e in in d u s tr y . S e r v ic e in c lu d e s ( l ) e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s a ft e r D e c . 31, 1954, and (2) fr o m Jan. 1, 1935, through D e c . 31, 1954, tim e as a union m e m b e r




57

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

Type, conditions,
and minimum
requirements

T e rm in a te d f o r any
reason .
A g e 52 and 15 y e a r s o f
s e r v ic e w ith 3, 000
c o v e r e d h o u r s ; 50 p e r ­
ce n t v e s te d , plus
5 p e r c e n t f o r e a ch
ad d itio n a l y e a r o f age
to 100 p e r c e n t at
a ge 62 o r o ld e r .

10 15

Automatic
at age -

Before
retirement

After
retirement

M onthly— $ 65.

(7 )

(7 )

( 6)

The s m a lle r Sam e as p r i o r
o f; (1 )3 0 p e r ­ to r e t i r e ­
m ent, le s s
cen t o f e m ­
ben efits
p lo y e r c o n ­
tr ib u tio n s , o r r e c e iv e d .
(2) $900
tim e s quota
( 8)
ratin g b a s e d
on a quota o f
3 0 ,0 0 0
hours.
( 8)

N o rm a l b e n e fit, p aya ble
i m m e d ia t e ly .15

18 15

N o rm a l b e n e fit
fo r m u la a p p lie s ,
p a ya b le at
a ge 65.

N o rm a l b e n e fit, paya ble
im m e d ia te ly .

1215

45

Benefit formula

Compulsory
at age -

DEATH B E N E F IT S

FINANCING
MEDIUM
O F FUNDING
Fmployee

ADMINISTRATION

Employer

(Y e a rs )

D e fe r r e d g ra d e d .

55

INVOLUNTARY
RE TIR EM E N T

V ESTIN G

In su red;
F u ll
B ip a r tite .
d e p o s it a d ­
cost—
C o n t r i­ m in is tr a tio n .
bution
rate a c ­
c o r d in g
to lo c a l
agree­
m ent
(s e e
norm al
b en efit
fo rm u la
co lu m n
fo r
e ffe c t on
b e n e fit).

F u ll
c o s t .1
1

$500

$500

F u ll

T r u s te e d ;
B ip a rtite.
s e lfa d m in istered .

F u ll
c o s t . 14

B ip a rtite .
T r u s te e d ;
s e lfa d m in istered .

T r u s te e d ;
B ip a r tite .
ban k c o s t ---ad m in istered .
$ 0 .0 7
p e r m an­
hou r
w o rk e d .

in g ood standing, o r e m p lo y e d in a jo b c o v e r e d b y u n io n ’ s c o lle c t iv e b a rg a in in g a g r e e m e n t s .
10 Sam e as fo o tn o te 9 and e m p lo y e d b y a co n trib u tin g e m p lo y e r 10 days a ft e r age 54.
11 E m p lo y e r s co n trib u te $ 1 .6 0 p e r w o r k e r p e r day on p a y r o ll f o r health and w e lfa r e and p e n sio n b e n e fits .
15 y e a r s o f s e r v ic e in in d u stry . S e r v ic e in clu d e s (1) e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s a fte r D e c . 31, 1950, and (2) fr o m Ju ly 1, 1937, through D e c. 31, 1950, tim e a s a union m e m b e r ,
o r e m p lo y e d in in d u stry as a se a m a n .
13 W o r k e r w ith 14 y e a r s o f s e r v ic e m a y r e t ir e in 1958 w ith m on th ly b e n e fit o f $ 4 5 . 50.
14 W o r k e r w ith 14 y e a r s o f s e r v ic e m a y r e t ir e in 1958. See fo o tn o te 13.
15 W o r k e r w ith 14 y e a r s o f s e r v ic e m a y r e t ir e in 1958 w ith m onthly b e n e fit o f $ 4 6 . 50.
14 E m p lo y e r s co n trib u te $1 p e r w o r k e r p e r day f o r p e n s io n and w e lfa r e b e n e fits .
17 25 y e a r s o f s e r v ic e in in d u stry and e m p lo y e d at tim e o f r e tir e m e n t. If a ge 65 o r o ld e r Jan. 1, 1950, through D e c. 31, 1961, m u st have b e e n e m p lo y e d f o r a v e r a g e o f 700 h ou rs p e r y e a r s in c e
Jan. 1, 1937; if a ge 65 o r o ld e r a fte r D e c. 31, 1961, m u st have b e e n e m p lo y e d f o r a total o f 17, 500 h o u r s .
18 15 y e a r s o f s e r v ic e in in d u stry and e m p lo y e d at date o f d is a b ility . M ust have b e e n e m p lo y e d f o r a v e ra g e o f 700 h ou rs p a r y e a r .




58

SLCE PNI NP N
EETD ESO U S
ILL U ST R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
D A TE O F INFORMATION

PA R T IC I­
PATION
REQ U IR E­
MENTS

Minimum
requirements
Service

Age

P a c i f ic M a r itim e
A s s o c ia t io n

(Y ea rs)

65

A ll
until
m in i­
m um
re­
q u ir e ­
m ents
fo r
bene­
fit a r e
m e t.

L o n g s h o r e m e n ’ s and
W areh ou sem en ’ s
U nion
F e b r u a r y 1958

G en era l T elep h on e
C om p a n y o f C a lifo rn ia
C o m m u n ica tion s W o r k e r s
o f A m e r ic a
N o v e m b e r 1957

60

T

Assuming average annual earnings of—

Service
credited
after
normal
age

age
65.

83,600

Benefit formula

84,200

85.000

and including present primary Social
Security benefits of—
898.50

M onthly— $1 0 0 .

EA R LY R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t f o r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

8108.50

8108.50

Minimum
requirements
Age

Benefit formula

Service
(Y ea rs)

A ft e r 25 y e a r s o f fu tu re s e r v i c e ;
$ 1 9 8 .5 0
$ 2 0 8 .5 0
$ 2 0 8 .5 0
A fte r 30 y e a r s o f fu tu re s e r v i c e :
$ 1 9 8 .5 0
$ 2 0 8 .5 0
$ 2 0 8 .5 0
A fte r 35 y e a r s o f fu tu re s e r v i c e ;
$ 1 9 8 .5 0
$ 2 0 8 .5 0
$ 2 0 8 .5 0

Y e a r ly — 1 p e r c e n t o f a v e r a g e annual e a rn in g s during 10 c o n ­
s e c u tiv e y e a r s o f h ig h e s t e a rn in gs tim e s y e a r s o f s e r v ic e ,
le s s o n e -h a lf p r im a r y S o c ia l S e c u r it y b e n e fit w hen e lig ib le .
M in im um m o n th ly b e n e fit— p r i o r to a ge 65, $ 7 5 ; at a ge 65,
$1 0 0 ; le s s o n e -h a lf p r im a r y S o c ia l S e c u r ity b e n e fit when
e lig ib le .

A ft e r 25 y e a r s o f fu tu re s e r v i c e :
6 $ 7 5 .0 0
7 $1 1 4 . 40
8 $ 149• 25
’ $ 1 3 9 .4 0

$ 8 7 .5 0
$ 1 3 0 .9 0
$ 1 5 4 .2 5
$ 1 4 3 .4 0

S ee n o r m a l r e tir e m e n t.

$ 1 0 4 . 17
$ 1 4 7 .5 7
$ 1 5 8 .4 2
$ 1 4 7 .5 7

A ft e r 30 y e a r s o f fu tu re s e r v i c e :
6 $ 9 0 .0 0
$ 1 0 5 .0 0
$ 1 2 5 .0 0
7 $ 1 2 9 .4 0
$ 1 4 8 .4 0
$ 1 6 8 .4 0
* $ 1 4 9 .2 5
$ 1 5 9 .2 5
$ 1 7 9 .2 5
’ $ 1 3 9 .4 0
$ 1 4 8 .4 0
$ 1 6 8 .4 0
A fte r 35 y e a r s o f fu tu re s e r v ic e :
6 $ 1 0 5 . 00
7 $ 1 4 4 . 40
8 $ 1 5 4 .2 5
’ $ 1 4 4 .4 0

$ 1 2 2 . 50
$ 1 6 5 .9 0
$ 1 7 6 . 75
$ 1 6 5 .9 0

$ 1 4 5 . 83
$ 1 8 9 .2 3
$ 2 0 0 .0 8
$ 1 8 9 .2 3

1 1. C h a r te r p a r ticip a n ts — 25 y e a r s o f s e r v ic e as a lo n g s h o r e m a n (in clu d in g 5 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t ) during 28 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t and on p e n s io n l is t .
W o r k e r w as on p en s io n l is t on June 1, 1952, i f in c o lle c t iv e b a rg a in in g unit on June 1, 1951, a g e 55 on o r b e fo r e June 1, 1951, and e m p lo y e d as a lo n g s h o r e m a n f o r 15 o f la s t 18 y e a r s i f age 55 on June 1,
1951, 16 o f la s t 19 y e a r s i f age 56, e tc . , to 25 o f la s t 28 y e a r s i f age 65 o r o ld e r on June 1, 1951.
2. O th ers— 25 y e a r s o f s e r v ic e as a lo n g s h o r e m a n (in clu d in g 5 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t ) d uring 35 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t , in c o lle c t iv e b a rg a in in g unit
s in c e June 1, 1951, (9 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t a ft e r June 30, I9 6 0 ), and on p a r ticip a n ts p e n s io n lis t . W o r k e r is e lig ib le f o r p a r ticip a n ts p e n s io n lis t i f e m p lo y e d b y con trib u tin g e m p lo y ­
e r s in a c o lle c t iv e b a rg a in in g unit and has r e a c h e d age 55 o r o ld e r w ith 15 y e a r s o f e m p lo y m e n t as a lo n g s h o r e m a n .
2 25 y e a r s o f s e r v ic e as a lo n g s h o r e m a n (in clu d in g 1 y e a r p r io r to r e t ir e m e n t y e a r ) during 35 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t and to ta lly and p e rm a n e n tly d is a b le d as r e s u lt o f s i c k ­
n e s s o r in ju ry that do e s not en title w o rk e r to W o r k m e n ’ s C o m p e n sa tio n .
3 W o r k e r e lig ib le f o r r e t ir e m e n t b e n e fit m u st r e t ir e at a ge 68 o r th e r e a fte r upon b e c o m in g q u a lifie d f o r r e t ir e m e n t b e n e fit.
4 At w o r k e r ’ s r e q u e s t o r at d is c r e t io n o f b e n e fit co m m itte e and a p p ro v a l o f p r e s id e n t.
5 At d is c r e t io n o f b e n e fit co m m itte e and a p p ro v a l o f p r e s id e n t.




59

UDRCLETV BRA I G
NE OLCI E AGI N
N
DISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

8

Benefit formula

Compulsory
at age -

Automatic
at age -

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING
Pmployee

ADMINISTRATION

Employer

(Y ea rs)

*25

Joint and
s u r v iv o r .1
0

Type, conditions.
requirements

Service

INVOLUNTARY
R E TIR EM E N T

VESTIN G

M onthly— $1 0 0 .

(3)

(3)

12 m on th ly
b e n e fit
p a y m e n ts .

65

65

(l l )

T r u s te e d ;
B ip a r tite .
F u ll
s e lfc o s t ---On a ton­ ad m inistered.
nage
b a s is ,
e q u iv a ­
lent to
$ 0 . 15
per
m an­
h ou r
w o rk e d .

F u ll
cost.

E m p lo y e r .
T r u s te e d ;
ban kadm in istered .

F o r m en r e t ir in g p r io r to age 65 (w om en p r i o r to age 62).
F o r w om en r e t ir in g at a ge 62, o r upon re a c h in g age 62 having r e t ir e d p r i o r to that age (in clu d e s r e d u c e d p r im a r y S o c ia l S e c u r ity b e n e fit).
8 F o r m en o r w o m e n r e t ir in g at a ge 65, o r m e n re a c h in g age 65 having r e t ir e d p r i o r to that a g e .
9 F o r w om e n upon r e a ch in g age 65 havin g r e t ir e d p r i o r to o r at age 62 (in clu d e s r e d u c e d p r im a r y S o c ia l S e c u r ity b e n e fit).
10 O ption not a v a ila b le to w o r k e r on m in im u m b e n e fit.
II At the d is c r e t io n o f b e n e fit c o m m itte e and a p p ro v a l o f b o a r d o f d i r e c t o r s , m o n th ly b e n e fit m a y be con tin u ed f o r a p e r io d o f 12 m onths to depen dent r e la tiv e s to a m axim u m o f $ 2 , 000.
I




60
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIONS
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
DATE O F INFORMATION

S outhern B e ll T eleph on e
and T e le g r a p h C om pa n y
C om m u n ica tion s W o r k e r s
o f A m e r ic a
M a r c h 1958

P A R T IC I­
PATION
RE Q U IR E­
MENTS

Minimum
requirements

Ae
g

Service
(Y e a rs )

Service
credited
after
normal
age

M en

6 | 10
0
2

Benefit formula

Assuming average annual earnings of—
S3,600
$4,200
$5,000
and including present primary Social
Security benefits of—
$96.50
$108.50
$108.50

6.
5

or

5 " *5
5 j~ 2

Y e a r ly — 1 p e r c e n t o f a v e r a g e annual e a rn in gs d uring 10 c o n ­
s e c u tiv e y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t (at b e n e fit
c o m m it t e e ’ s d is c r e t io n , 10 c o n s e c u t iv e y e a r s o f h ig h e st
e a r n in g s ) tim e s y e a r s o f s e r v ic e , le s s o n e -h a lf p r im a r y
S o c ia l S e c u r ity b e n e fit w hen e lig ib le .

A ft e r 25 y e a r s o f futu re s e r v ic e ;
* $ 7 5 .0 0
$ 8 7 .5 0
$ 1 0 4 . 17
4 $ 114. 40
$ 1 3 0 .9 0
$ 1 4 7 .5 7
5 $ 1 4 9 .2 5
$ 1 5 4 .2 5
$ 1 5 8 .4 2
4 $ 139. 40
$ 1 4 3 .4 0
$ 1 4 7 .5 7

M in im um m on th ly b e n e fit— p r i o r to a ge 65, $75; at a ge 65,
$10 0; le s s o n e -h a lf p r im a r y S o c ia l S e c u r ity b e n e fit w hen
e lig ib le .

age

E A R LY R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

A ft e r 30 y e a r s o f fu tu re
* $ 9 0 .0 0
$ 1 0 5 .0 0
4 $ 129. 40
$ 1 4 8 .4 0
5 $ 1 4 9 .2 5
$ 1 5 9 .2 5
4 $ 1 3 9 .4 0
$ 1 4 8 .4 0

Minimum
requirements
Benefit formula
Age

Service
(Y e a rs )

S ee n o r m a l r e t ir e m e n t .

s e r v ic e ;
$ 1 2 5 .0 0
$ 1 6 8 .4 0
$ 1 7 9 .2 5
$ 1 6 8 .4 0

A ft e r 35 y e a r s o f fu tu re s e r v ic e ;
3 $ 1 0 5 . 00
4 $ 1 4 4 . 40
5 $ 1 5 4 .2 5
4 $ 1 4 4 .4 0

TThe W e s te rn Union
T e le g r a p h C om pa n y

M en
60

C o m m e r c ia l T e le g r a p h e r s
F e b r u a r y 1958

| 120
or

T
-I 930

55

9 25

or

W om en

5 j ^0
5 2

age
70.

Y e a r ly — 1 p e r c e n t o f a v e r a g e annual e a rn in g s d uring the
10 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t (at e m p lo y e r ’ s
d is c r e t io n , 10 c o n s e c u t iv e y e a r s o f h ig h e s t e a r n in g s ) tim e s
y e a r s o f s e r v ic e , le s s o n e -h a lf p r im a r y S o c ia l S e c u r ity
b e n e fit when r e c e iv e d .
M in im um m on th ly b e n e fit— p r i o r to qu a lify in g age f o r
p r im a r y S o c ia l S e c u r ity b e n e fit, $ 7 5 ; a ft e r su ch a g e , $10 0;
le s s o n e -h a lf p r im a r y S o c ia l S e c u r ity b e n e fit w hen r e c e iv e d .

$ 1 2 2 .5 0
$ 1 6 5 .9 0
$ 1 7 6 . 75
$ 1 6 5 .9 0

3 $ 7 5 .0 0
4 $ 1 3 9 .4 0
5 $ 1 4 9 .2 5

i o f fu tu re s e r v ic e ;
$ 1 0 4 .1 7
$ 8 7 .5 0
$ 1 4 3 .4 0
$ 1 4 7 . 57
$ 1 5 4 .2 5
$ 1 5 8 .4 2

A ft e r 30 yea:rs o f fu tu re s e r v ic e :
3 $ 9 0 .0 0
$ 1 0 5 .0 0
$1 2 5 . 00
4 $ 1 3 9 .4 0
$ 1 4 8 .4 0
$ 1 6 8 .4 0
$ 1 7 9 .2 5
5 $ 1 4 9 .2 5
$ 1 5 9 .2 5
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$1 4 5 . 83
3 $ 1 0 5 . 00
$ 1 2 2 .5 0
$ 1 6 5 .9 0
4 $ 1 4 4 . 40
$ 1 8 9 .2 3
$ 2 0 0 .0 8
5 $ 1 5 4 .2 5
$ 1 7 6 . 75

or

I'

— 93
0

1
*
3
4
5
4
7

A t w o r k e r 's r e q u e s t o r at d is c r e t io n o f b e n e fit c o m m it t e e .
^
W ith a p p ro v a l o f b e n e fit c o m m it t e e .
F o r m e n r e t ir in g p r i o r to a ge 65 (w om en p r i o r to age 62).
F o r w om e n r e t ir in g at a g e 62, o r upon r e a ch in g age 62 having r e t ir e d p r i o r to that a g e (in clu d e s r e d u c e d p r im a r y S o c ia l S e c u r ity b e n e fit).
F o r m en o r w o m e n r e t ir in g at age 65, o r m e n rea c h in g a ge 65 having r e t ir e d p r i o r to that a g e .
F o r w om e n upon re a c h in g age 65 having r e t ir e d p r i o r to o r at age 62 (in clu d e s re d u c e d p r im a r y S o c ia l S e c u r ity b e n e fit).
T ota l d is a b ility as r e s u lt o f s ic k n e s s o r in ju ry , o th e r than a c c id e n ta l in ju ry a r is in g out o f and in the c o u r s e o f em p lo y m e n t.




$1 4 5 . 83
$ 1 8 9 .2 3
$ 2 0 0 . 08
$ 1 8 9 .2 3

S ee n o r m a l r e tir e m e n t.

61
UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RE TIR EM E N T
NORMAL
AND E A R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Beeefit formal*
Age

Service

INVOLUNTARY
RETIR EM E N T

VESTIN G

Type, conditions,
nnd minimum
requirements

Benefit formula

Compulsory
at age -

DEATH B E N E F IT S

FINANCING
MEDIUM
O F FUNDING

ADMINISTRATION

Before
retirement

After
retirement

(8)

Automatic
at age -

Annual e a r n ­
ings at
r e t ir e m e n t
redu ced
10 p e r c e n t f o r
e a c h fu ll y e a r
e la p s e d s in c e
r e tir e m e n t;
m in im u m
am ount equal
to annual
p e n s io n . A t
d is c r e t io n o f
b en efit c o m ­
m itte e ,
12 m on th s'
ea rn in gs
paid.

F u ll
cost.

T ru s te e d ;
E m p lo y e r .
banka d m in istered .

( t°)

3 m on th ly r e ­
tir e m e n t
b e n e fit p a y ­
m ents to a
m axim u m o f
$ 100 (granted
at d is c r e t io n
o f b e n e fit
c o m m it t e e ).

F u ll
co st.

T r u s te e d ;
E m p lo y e r .
s e lfa d m in istered .

Employee

Employer

(H e a rs )

* 15

Y e a r ly — 1 p e r c e n t o f a v e r a g e annual
e a rn in g s du rin g 10 c o n s e c u tiv e y e a r s
im m e d ia t e ly p r e c e d in g r e t ir e m e n t
(at b e n e fit c o m m it t e e 's d i s c r e t i o n ,
10 c o n s e c u t iv e y e a r s o f h ig h e s t e a r n ­
in g s ) tim e s y e a r s o f s e r v ic e , le s s
o n e -h a lf S o c ia l S e c u r ity d is a b ility
b e n e fit (o n e -h a lf p r im a r y S o c ia l
S e c u r ity b e n e fit w hen e lig ib le ).

65

M in im um m o n th ly b e n e fit f o r 20 o r
m o r e y e a r s o f s e r v ic e — p r i o r to
age 65, $ 7 5 ; at a g e 65, $ 10 0; le s s
o n e -h a lf S o c ia l S e c u r ity d is a b ility
b e n e fit (o n e -h a lf p r im a r y S o c ia l
S e c u r ity b e n e fit w hen e lig ib le ).

7 15

Y e a r ly — 1 p e r c e n t o f a v e r a g e annual
ea rn in gs during 10 y e a r s im m e d ia te ly
p r e c e d in g r e tir e m e n t (at e m p lo y e r 's
d is c r e t io n , 10 c o n s e c u tiv e y e a r s o f
hig h e st e a r n in g s ) tim e s y e a r s o f
s e r v ic e , le s s o n e -h a lf S o c ia l S e c u r ity
d is a b ility b e n e fit (o n e -h a lf p r im a r y
S o c ia l S e c u r ity b e n e fit w hen re ceived ),

70

70

<“ >

* ( l ) 3 y e a r s ' e a rn in gs to m a x im u m o f $ 3 0 ,0 0 0 , o r am ount payable under s ic k n e s s death b e n e fit (s e e (2) b e lo w ), w h ic h e v e r is g r e a t e r — fo r death b y o c c u p a tio n a l a c c id e n t. (2) 4 m on th s' ea rn in gs
f o r 6 m onths but le s s than 2 y e a r s o f s e r v ic e , in c r e a s e d b y 2 m o n th s' e a rn in gs f o r e a c h add ition al y e a r o f s e r v ic e to 12 m o n th s' e a rn in gs f o r 5 o r m o r e y e a r s , o r $ 2 5 0 , w h ic h e v e r is g r e a t e r — f o r death
by oth er c a u s e s .
9 A t d is c r e t io n o f b e n e fit c o m m it t e e and a p p ro v a l o f a d e sig n a te d v ic e p r e s id e n t.
10 C om p a n y has a death b e n e fit plan p r o v id in g paym en t o f 3 y e a r s ' e a rn in gs to a m axim u m o f $ 1 5 , 000 in c a s e o f death by o c c u p a tio n a l a c c id e n t; and 6 m on th s' ea rn in g s fo r 5 to 10 y e a r s o f
s e r v ic e , 1 y e a r 's e a rn in gs f o r 10 o r m o r e y e a r s o f s e r v ic e to a m axim u m o f $ 2 , 000, in c a s e o f death by o th e r c a u s e s .
11 H o w e v e r , i f p e n s io n e r d ie s b e fo r e r e c e iv in g in r e tir e m e n t b e n e fits an am ount equal to death b en efit (s e e fo o tn o te 10) had he d ied w h ile e m p lo y e d , e x c e s s paid to b e n e fic ia r y in lie u o f a b o v e .




62
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIONS
NORMAL R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la

EA R LY R E TIR EM E N T

i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
D ATE O F INFORMATION

P A R T IC I­
PATION
REQ U IR E-

Minimum
requirements
Age

A la b a m a P o w e r C om pa n y A g e 25
and
E le c t r ic a l (IB EW )
1 y e a r of
s e r v ic e .
D e c e m b e r 1957

Service
(Y e a rs )

65

Service
credited

Benefit formula

normal
age

N one.

898.50

M onthly— f o r s e r v ic e a ft e r D e c . 31, 1955, 1 .2 5 p e r c e n t o f
f i r s t $350 o f m on th ly e a rn in gs and 1. 75 p e r c e n t o f e a rn in gs
e x c e e d in g $350 f o r e a ch y e a r o f s e r v i c e ; 1 f o r s e r v ic e p r io r
to Jan. 1, 1956, 1 p e r c e n t o f m on th ly ra te o f ea rn in g s on
Jan. 1, 1955, f o r e a ch y e a r o f su ch s e r v i c e . 1
M in im um m on th ly b e n e fit— $100 f o r 30 o r m o r e y e a r s o f
s e r v i c e , 2 r e d u c e d $ 1 .5 0 f o r ea ch y e a r le s s than 30 y e a r s ,
l e s s o n e -h a lf p r im a r y S o c ia l S e c u r ity b e n e fit.

The D e tr o it E d is o n
C om pa n y

6 m onths
of
s e r v ic e .

65

_
_

N one.

U tility W o r k e r s
N o v e m b e r 1957

P a c i f ic Gas and E l e c t r ic
C om pa n y

1 yea r of
s e r v ic e .

3 65

_
_

N one.

E l e c t r ic a l (IBEW )
Jan uary 1958

_
_

65

8 15

A ll.

$ 2 2 9 .7 5

$ 2 5 6 .0 0

$ 2 6 1 .6 3

Service
(Y e a rs )

$ 3 0 9 . 75

$ 3 0 2 .4 6

s e r v ic e ;
$ 2 1 2 .6 7
s e r v ic e ;
$2 3 3 . 50

$ 1 4 8 .5 0

45

*15

A t wo:r k e r 's
requei St.

A c t u a r ia l equ ivalen t o f
n o r m a l b e n e fit, p aya ble
im m e d ia te ly ; o r n o r m a l
b e n e fit, p a ya b le at a ge 65.

s e r v ic e :
$ 25 4. 33

s e r v ic e ;
$ 2 9 3 .9 2
s e r v ic e :
$ 3 3 1 .0 0

4 55

_
_

W ith < p lo y jm
e r 's c:on sen t.

N o rm a l b e n e f i t 5 red u c e d
4 p e r c e n t f o r ea ch y e a r
u nd er age 65, 3 paya ble
im m e d ia te ly .

s e r v ic e :
$ 3 6 8 . 08

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 3 8 .5 0

E x clu d es p r e m e m b e r s h ip s e r v ic e .
In clu d es p r e m e m b e r s h ip s e r v ic e .
A g e 60 f o r w o m e n c o v e r e d b y plan p r io r to Jan. 1, 1954.
A g e 50 f o r w o m e n c o v e r e d b y plan p r io r to Jan. 1, 1954.
P r im a r y S o c ia l S e c u r ity b e n e fit is dedu cted fr o m m in im u m w hen r e c e iv e d .
A g e 45 f o r w o m e n c o v e r e d b y the plan p r io r to Jan. 1, 1954.

Benefit formula

Age

55
120
A c tu a r ia l equ ivalen t o f
n o r m a l b e n e fit (m inim um
A t w o i •ker's
not a p p lic a b le ), p a ya b le
ireques it (s u b im m e d ia te ly .
A ft e r 30 y e a r s o f futu re s e r v ic e ;
iject to e m p lo y ­
$ 2 1 1 .0 0
$ 2 3 9 . 75
$ 2 7 4 .7 5
e r 's co n s e n t
A ft e r 35 y e a r s o f futu re s e r v ic e ; p r io r to age 60).,

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
M onthly— $40 f o r 20 o r m o r e y e a r s o f s e r v ic e , r e d u c e d $2
p e r m onth f o r e a ch y e a r o f s e r v ic e le s s than 20 to a m inim urr
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0
o f $30 f o r 15 y e a r s o f s e r v ic e .
A ft e r 30 y e a r s o f futu re s e r v ic e :
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0

O cto b e r 195 7




8108.50

Minimum
requirements

A ft e r 25 y e a r s o f fu tu re s e r v ic e ;
$ 1 9 2 .2 5
$ 2 1 7 .8 8
$ 2 4 7 .0 5

A ft e r 25 y e a r s o f fu ture
M onthly— f o r s e r v ic e a ft e r D e c . 31, 1936, Va* o f w o r k e r 's
total c o n tr ib u tio n s ; f o r s e r v ic e p r io r to Jan. 1, 1937, 1. 5 p e r $ 2 1 1 .0 0
$ 2 5 2 .2 5
cen t o f m on th ly e a rn in gs in D e c . 1936 tim e s y e a r s o f such
s e r v i c e 2 f o r w om en a ges 45 through 49 on Jan. 1, 1937,
A ft e r 30 y e a r s o f futu re
1 .2 5 p e r c e n t f o r w o m e n a g e s 40 through 44 (m en a g e s 45
$ 2 3 3 .5 0
$ 2 8 1 .0 0
through 49), and 1 p e r c e n t f o r w o m e n u n d er age 40 (m en
un d er age 45).
A ft e r 35 y e a r s o f fu tu re

H otel and R estau ra n t
E m p lo y e e s , L o c a l 89

1
2
3
4
5
6

8108.50

A ft e r 25 y e a r s o f fu tu re
Y e a r ly — f o r s e r v ic e a ft e r M a r . 31, 1943, 1 p e r c e n t of
a v e r a g e ea rn in g s d uring 5 c o n s e c u tiv e y e a r s o f h ig h e st e a r n ­
$ 1 7 3 .5 0
$ 1 9 6 .0 0
ings tim e s y e a r s o f s e r v i c e ; 2 f o r s e r v ic e p r i o r to A p r . 1,
1943, g r e a t e r o f; ( l ) 1 p e r c e n t o f h ig h e s t annual e a rn in gs
A ft e r 30 y e a r s o f fu tu re
p r i o r to A p r. 1, 1949, tim e s y e a r s o f su ch s e r v ic e , o r
$ 18 8. 50
$ 2 1 3 .5 0
(2) 1 p e r c e n t o f 1 .3 3 3 tim e s annual e a rn in gs f o r y e a r im m e d i­
a te ly p r e c e d in g A p r. 1, 1943, tim e s y e a r s o f such s e r v ic e .
A ft e r 35 y e a r s o f fu ture
$20 3! 50
$2 3 1 . 00
M in im um m on th ly b e n e fit f o r 15 o r m o r e y e a r s o f s e r v i c e 2—
$40.

M in im um m on th ly b e n e fit— $12 5 f o r 25 o r m o r e y e a r s o f
s e r v ic e 1 r e d u c e d $5 p e r m onth f o r e a ch y e a r o f s e r v ic e le s s
than 25 to a m in im u m o f $25 f o r 5 y e a r s o f s e r v ic e , le s s
p r im a r y S o c ia l S e c u r ity b e n e fit.

R esta u ra n t in d u stry,
P r o g r e s s i v e R estau ra n t
O w ners A s s o c ia t io n , Inc.,
and oth er e m p lo y e r s
(New Y o r k , N. Y . )

Assuming average annual earnings of—
S3,600
84,200
85,000
and including present primary Social
Security benefits of—

$ 1 4 8 .5 0

_
_

_
_

_
_

63

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY R ETIR EM EN T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

INVOLUNTARY
RETIR EM E N T

VESTIN G

Type, conditions,
and minimum
requirements

FINANCING
MEDIUM
O F FUNDING

Benefit formula

Compulsory
at age -

N o rm a l b e n e fit
(m inim um not
a p p lic a b le ), p a y ­
ab le at age 65.

65

Automatic
at age -

Before
retirement

After
retirement

Fmployee

ADMINISTRATION

Employer

(Y ea rs)

Joint and
s u r v iv o r
(N orm a l).

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .

Level
in c o m e
(E a r ly ).

F u ll
co st.

T ru s teed ;
E m p lo y e r .
banka d m in istered .

F u ll
cost.

T r u s te e d ;
E m p lo y e r .
ban k adm in istered .

20 y e a r s o f s e r v i c e . 2

Joint and
s u r v iv o r .

65

Joint and
s u r v iv o r .

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .
A g e 50 6 and 10 y e a r s
of s e r v ic e .1

55

7
8
to Jan.
9

DEATH B E N E F IT S

8 15

N o rm a l b e n e fit r e d u c e d 5 p e r c e n t fo r
ea ch y e a r u nd er age 65 through 61,
4 p e r c e n t f o r e a ch y e a r under age 61
through 5 7, and 3 p e r c e n t f o r ea ch
y e a r und er age 57 through 55, p a y ­
a b le im m e d ia te ly .

A c t u a r ia l e q u iv ­
a le n t o f l /a 4 o f
w o r k e r ’ s total
c o n tr ib u tio n s ,
p aya ble anytim e
du rin g 1 0 -y e a r
p e r io d p r i o r to
age 6 5 ;3 o r V 24
of w ork er’ s
total c o n tr ib u ­
tio n s , pa ya b le at
age 65.

7 65

65

C on tribu tion s C on tribu tion s 3 p e r c e n t B a lan ce C om bin ation ; E m p lo y e r .
o f cost.
plus in t e r e s t . plus in t e r e s t , o f f ir s t
T r u s te e d ;
le s s b en efits $ 3 , 600
ban k o f annual
r e c e iv e d .
adm in istered .
ea r n in g s ,
and
In su red;
5 percent
grou p
of earn­
annuity.
ings
exceed­
ing
$3, 600.

B ip a r tite .
T r u s te e d ;
F u ll
s e lfc o s t ---3 p er­
a d m in istered
cen t o f
p en sion
p a y r o ll.9

A w om a n c o v e r e d b y plan p r i o r to Jan. 1, 1954, m u st r e t ir e at age 60 u n le s s r e q u e s te d to contin ue in e m p lo y m e n t b y e m p lo y e r but in no event a ft e r age 65.
15 y e a r s o f s e r v ic e in tr a d e . S e r v ic e in clu d e s ( l ) e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s a fte r D e c . 31, 1952, and (2) e m p lo y m en t c o v e r e d b y u n ion ’ s c o lle c t iv e b a rg a in in g a g r e e m e n ts p r io r
1, 1953.
M in im um w age s c a le o r shop m in im u m in e ffe c t on O ct. 31, 1951, plus $2 f o r e a ch w o r k e r .




64

SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIO NS
NORMAL R E T IR EM E N T

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t f o r m u la
i n c lu d in g p rim a ry S o c i a l S e c u r it y b e n e f i t s

COMPANY, UNION, AND
D ATE O F INFORMATION

PA R T IC I­
PATION
REQ U IR E­
MENTS

Minimum
requirements
Age

R e ta il fo o d in d u stry,
F o o d E m p lo y e r s
C o u n c il, In c. , and
o th e r e m p lo y e r s ,
S outhern C a lifo r n ia a r e a

65

Service
(Y ea rs)

11
0

Service
credited
after
normal
nge

A ll.

Assuming average annual earning , 0f .
000
S3,600
S4.200
t
and including present primary Social
Security benefits of—
S96.50
8108.50
8108.50

Benefit formula

M onthly— $100 f o r 30 o r m o r e y e a r s o f s e r v ic e , r e d u c e d
$ 3 . 33 f o r e a ch y e a r o f s e r v ic e le s s than 30 y e a r s .

Benefit formula
Service

Age

(Y ea rs)

10
1

55

A t w o r k e r 's
A ft e r 30 y e a r s o f fu tu re s e r v ic e : r e q u e s t.
$ 1 9 8 .5 0
$ 2 0 8 .5 0
$ 2 0 8 .5 0

R e ta il C le r k s

A c tu a r ia l equ ivalen t o f
n o r m a l b e n e fit, pa ya b le
im m e d ia te ly ; o r n o r m a l
b e n e fit, pa y a b le at a g e 65.

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 9 8 .5 0
$ 2 0 8 .5 0
$ 2 0 8 .5 0

M a r c h 1958

R eta il drug in d u stry ,
v a r io u s a s s o c ia tio n s
and e m p lo y e r s
(New Y o rk , N. Y . )

A ft e r 25 y e a r s o f fu tu re s e r v ic e ;
$ 1 8 1 .8 5
$ 1 9 1 .8 5
$ 1 9 1 .8 5

Minimum
requirements

65

A ll.

M onthly— f o r s e r v ic e a ft e r Sept. 30, 1951, Va o f 1 p e r c e n t
o f total e a r n in g s , d iv id e d b y 12; f o r s e r v ic e p r i o r to O ct. 1,
1951, $3 6 tim e s y e a r s o f s e r v ic e to a m axim u m o f 15 y e a r s ,
d iv id e d b y 12.

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 3 6 .0 0
$ 1 5 2 .2 5
$ 1 6 0 .5 8
A ft e r 30 y e a r s o f fu tu re s e r v i c e ;
$ 1 4 3 .5 0

R e ta il, W h oles a le and
D ep a rtm en t S to re Union,
L o c a l 1199

$ 1 6 1 .0 0

55

*5

A t w o r k e r 's
r e q u e s t.

A c t u a r ia l equ iva len t o f
n o r m a l b e n e fit, pa y a b le
im m e d ia te ly ; o r n o r m a l
b e n e fit, p aya ble at a ge 65.

$ 1 7 1 .0 0

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
$ 1 5 1 .0 0
$ 1 6 9 .7 5
$ 1 8 1 .4 2

O cto b e r 1957

R eta il, w h o le s a le , and
w a re h o u s e in d u s tr ie s ,
v a r io u s e m p lo y e r s
(New Y o r k , N. Y . )
R eta il, W h o le s a le and
D ep artm en t S tore U nion,
D is t r ic t 65 (65 S e c u r ity
P lan )
D e c e m b e r 1957

65

1
0

A ll.
Y ea rs of
s e r v ic e
10
15

---------------

2 ---0
25
30
35
40

-----------------------------

M on th ly b e n e fit le s s
fa m ily S o c ia l
S e c u r ity b e n e fits
---------------------

---------

---------------------

$12 5
140

---------------------------------------------------------

1 0 -------------6
2 0 -------------0

225
250

---------------------------------------------------------

M in im um
fr o m fund
$ 50

6
0
75
10
0
10
0
10
0
10
0

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
* $ 2 4 7 .8 0
$ 2 6 2 .8 0
$ 2 6 2 .8 0
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
* $ 2 4 7 .8 0

$ 2 6 2 .8 0

1
0

60

A t w o r k e r 's
requ est •

$ 2 6 2 .8 0

A ft e r 35 y e a r s o f fu tu re s e r v i c e :
* $ 2 4 7 .8 0

$ 2 6 2 .8 0

$ 2 6 2 .8 0
or

M onthly b e n e fit is in c r e a s e d $25 f o r e a c h a d d itio n a l 5 y e a r s
o f s e r v ic e ; n o fu r th e r in c r e a s e in m in im u m .

(4
)

55

*25
(15 fo r
w o m e n ).

A t w o r k e r 's
r e q u e s t.

M onthly— f o r 10 through
l 5 y e a r s o f s e r v ic e and
a g e 60, $10 0; plus $25
f o r e a c h ad d ition a l 5 y e a r s
o f s e r v ic e o v e r 15 y e a r s ,
le s s fa m ily S o c ia l S e c u ­
r it y b e n e f it s . M in im um
m on th ly b e n e fit p a ya b le
fr o m fund is $50 f o r
10 y e a r s o f s e r v ic e , plus
$5 f o r e a ch ad d ition a l
5 y e a r s o f s e r v ic e o v e r
10 y e a r s to a m a xim u m of
$80 f o r 40 o r m o r e y e a r s
o f s e r v ic e .
M onthly— f o r 25 y e a r s o f
s e r v ic e (15 f o r w om en )
and a ge 55, $50 ; plus $25
f o r e a c h a d d ition a l 5 y ea rs
o f s e r v ic e o v e r 25 y e a r s
f o r b oth m en and w om en ,
le s s fa m ily S o c ia l S e c u r ity
b e n e fits . M in im um m on th ly
b e n e fit p aya ble fr o m fund is
$35 f o r 25 y e a r s o f s e r v ic e ,
plus $5 f o r e a c h ad d ition a l
5 y e a r s o f s e r v ic e o v e r
25 y e a r s to a m axim u m o f
$50 f o r 40 o r m o r e y e a r s
o f s e r v ic e .

1 10 y e a r s o f s e r v ic e in in d u stry . S e r v ic e in c lu d e s ( l ) em p lo y m e n t w ith co n trib u tin g e m p lo y e r s a ft e r M a r. 31, 1957, and (2) e m p lo y m en t by e m p lo y e r s u n d er ju r is d ic t io n o f union p r io r to A p r . 1,
1957, i f con trib u tion s w e r e m ade in w o r k e r 's b e h a lf on A p r . 1, 1957. S e r v ic e c r e d it e d f o r b e n e fit p u r p o s e s a ft e r age 25.
2 5 y e a r s o f s e r v ic e w ith co n trib u tin g e m p lo y e r s .
3 10 y e a r s o f s e r v ic e in in d u stry . S e r v ic e in clu d e s ( l ) em p lo y m e n t w ith co n trib u tin g e m p lo y e r s a fte r Jan. 31, 1950, and (2) e m p lo y m en t under u n ion 's c o lle c t iv e b a rg a in in g a g r e e m e n ts p r i o r to
F e b . 1, 1950, if con trib u tio n s m ade in w o r k e r 's b e h a lf on F e b . 1, 1950.
4 A w o r k e r e m p lo y e d b y one e m p lo y e r f o r 25 y e a r s in clu d in g 1 y e a r in w h ich e m p lo y e r m ade co n trib u tio n s in w o r k e r 's b e h a lf, r e c e iv e s a m on th ly b e n e fit o f $10 0, le s s fa m ily S o c ia l S e c u r ity b e n e fit.
M inim um m on th ly b e n e fit fr o m fund - $15 , i f co n trib u tio n s w e r e m ade in w o r k e r 's b e h a lf f o r 1 y e a r , plus $5 f o r e a ch ad d ition al y e a r to a m axim u m o f $35 f o r 5 y e a r s .




65

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
RETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Service

INVOLUNTARY
R E TIR EM E N T

VESTIN G

Type, conditions,
and minimum
requirements

DEATH B E N E F IT S

FINANCING
MEDIUM
O F FUNDING

Benefit formula

Compulsory
at age -

Automatic
at age -

Before
retirement

After
retirement

Fmployee

ADMINISTRATION

Employer

( } ears)

Joint and
s u r v iv o r .

D e fe r r e d fu ll.
T e r m in a te d f o r any
reason .

Level
in com e
(E a r ly ).

10 y e a r s o f s e r v i c e . 1

A c tu a r ia l e q u iv ­
alen t o f n o r m a l
b e n e fit, p aya ble
an ytim e during
1 0 -y e a r p e r io d
p r i o r to a ge 65;
or norm al bene­
fit, p a ya b le at
age 65.

F u ll
T r u s te e d ;
B ip a rtite.
c o s t ---s e lf$ 0 . 075 ad m in istered .
per
stra igh ttim e
h oa r
w ork ed .

F u ll
T ru s te e d ;
B ip a r tite .
s e lfcost—
3 per­
a d m in istered .
cen t o f
gross
p a y r o ll.

50

3 15
or
325.

M onthly— $ 5 0 , le s s fa m ily S o c ia l
S e c u r ity b e n e fits . M inim um
m on th ly b e n e fit p a ya b le fr o m fund,
p r io r to age 50 and 25 y e a r s o f s e r v ­
i c e , $ 1 0 ; age 50 o r o ld e r and
15 y e a r s , $15; 20 y e a r s , $20 ;
25 y e a r s , $25 .

D e fe r r e d fu ll.
T e r m in a te d f o r any
reason .
10 y e a r s o f s e r v ic e . 3

M onthly— $ 2 . 50
tim e s y e a r s o f
s e r v ic e , paya ble
at age 65.
(6)

T r u s te e d ;
B ip a r tite .
F u ll
s e lfc o s t ---4. 5 p e r ­ a d m in istered .
c en t o f
straigh ttim e
p a y r o ll.

5 B en efits com p u ted on a s s u m p tio n o f a w o r k e r e n titled to m in im u m fa m ily S o c ia l S e c u r ity b e n e fits o f $ 1 4 7 . 80 ($ 9 8 . 50 p r im a r y b e n e fit, plus on e-h a lf su ch am ount to s p o u s e ) f o r $ 3 , 600 a v e r a g e
ea rn in gs le v e l, and $ 1 6 2 . 80 ($ 1 0 8 . 50 p r im a r y b e n e fit, plus o n e -h a lf su ch am ount to s p o u s e ) f o r $ 4 ,2 0 0 and $ 5 , 000 a v e r a g e e a rn in gs l e v e ls ,
• W o r k e r s m a y e le c t lum p sum w ith draw al b e n e fit in lie u o f v e s te d p e n s io n a c c o r d in g to fo llo w in g : 5 throu gh 9 y e a r s o f s e r v ic e , 10 p e r c e n t of am ount paid to fund in w o r k e r 's b eh a lf; 10 and 11 y ea rs,
20 p e r c e n t; 12 through 14 y e a r s , 25 p e r c e n t; 15 through 19 y e a r s , 3 3 .3 3 3 p e r c e n t; 20 through 24 y e a r s , 50 p e r c e n t; 25 through 29 y e a r s , 75 p e r c e n t ; and 30 and m o r e y e a r s , 100 p e r c e n t .




66
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIONS
NORMAL R E TIR EM E N T

COMPANY, UNION, AND
DATE O F INFORMATION

P A R T IC I­
PATION
R EQ U IR EMENTS

Minimum
requirements
Age

M ilk D e a le r s , v a r io u s
e m p lo y e r s , C h ic a g o ,
HI. , a r e a

65

Service
(Y e a rs )

1 25

Service .
credited
after
normal
age

A ll.

Benefit formula

M onthly— $100 f o r 35 o r m o r e y e a r s o f s e r v ic e , $90 f o r 30
through 34 y e a r s , and $80 f o r 25 through 29 y e a r s o f
s e r v ic e .2

EA R LY RETIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la
i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

\ssum ing average annual earnings of—
S3,600
S4.200
S5,000
and including present primary Social
Security benefits of—
$98.50
S108.50
8108.50

Minimum
requirements
Benefit formula
Age

Service
(Y e a rs )

A ft e r 25 y e a r s o f fu tu re s e r v ic e ;
$ 1 7 8 .5 0
$1 8 8 . 50
$ 1 8 8 .5 0
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 8 8 .5 0
$ 1 9 8 .5 0
$ 1 9 8 .5 0

T e a m s t e r s , L o c a l 753
Jan uary 1958

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 9 8 . 50~ $ 2 0 8 .5 0
$ 2 0 8 .5 0
(2)

John H a n cock M utual
L ife In su ran ce C om pa n y

1 year of
s e r v ic e .

65

N one.

In su ra n ce W o r k e r s o f
A m e r ic a

Y e a r ly — 1 p e r c e n t o f f i r s t $ 3 , 600 o f annual e a r n in g s , and
2 p e r c e n t o f ea rn in g s e x c e e d in g $3 , 600 f o r e a ch y e a r o f
s e r v ic e ;5 plus 1 p e r c e n t o f total ea rn in gs during 10 y e a r s
p r e c e d in g r e t ir e m e n t (e x c lu d e s y e a r s p r i o r to a ge 50).

F e b r u a r y 1958

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 2 0 3 .5 0
$ 2 4 3 .5 0
$ 2 8 3 .5 1
A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 2 1 8 .5 0
$ 2 6 3 .5 0
$ 3 1 0 .1 7
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 2 3 3 .5 0
$283.5*0
$ 3 3 6 .8 3

55
W ith !s m p lo y e r 's c:on sen t.
or
60

6 25

W ith < m p lo y s
e r 's c on sent o r
at em p l o y e r 's
req u e St.

The P r den tial In su ran ce
C o m ’ any o f A m e r ic a
Insu ance A gents
In* jrn a tio n a l U nion
F e b r u a r y 1958

_
_

65

_
_

N one.

M onthly— f o r s e r v ic e a ft e r D e c . 31, 1946, 1 .3 p e r c e n t o f
f i r s t $ 3 , 000 o f annual e a r n in g s , and 2 p e r c e n t o f e a rn in g s
e x c e e d in g $ 3 , 000 f o r e a c h y e a r o f s e r v ic e , d iv id e d b y 12;
f o r s e r v ic e p r i o r to Jan. 1, 1947, Via o f g r e a t e r o f;
( l ) 1 p e r c e n t o f f i r s t $ 3 , 600 o f ad ju sted p a st s e r v ic e
e a r n i n g s ,8 and 1 .5 p e r c e n t o f ea rn in gs e x c e e d in g $ 3 , 600
tim e s y e a r s o f su ch s e r v ic e , o r (2) 110 p e r c e n t o f p r e v io u s
p ast s e r v ic e f o r m u l a .9

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 2 0 4 . 75
$2 3 9 . 75
$ 2 7 3 .0 8
A fte r 30 y e a r s o f fu tu re s e r v ic e :
$ 2 2 6 .0 0
$ 2 6 6 .0 0
$ 3 0 6 .0 0

A c tu a r ia l eq u iva len t o f
n o r m a l b e n e fit, p aya ble
im m e d ia te ly .

55

10

A t w o r k e r 's
r e q u e s t.

N o rm a l b e n e fit, payable
im m e d ia te ly , plus an
am ount equal to p r im a r y
S o c ia l S e c u r ity b en efit,
p aya ble until e lig ib le fo r
su ch b en efit.

A c t u a r ia l equ iva len t of
n o r m a l b e n e fit, p aya ble
im m e d ia te ly .

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 2 4 7 .2 5
$ 2 9 2 .2 5
$ 3 3 8 .9 2

1 U nion m e m b e r f o r 25 y e a r s , e m p lo y e d in in d u stry at tim e o f r e tir e m e n t and f o r 3 o f 5 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t .
2 In lie u o f f i r s t $ 4 , 000 o f m on th ly b e n e fits , on a p p lic a tio n a lum p sum paym en t o f $ 3 , 600 m a y b e m ade at d is c r e t io n o f tr u s t e e s , o r if paym en ts have s ta rte d , an am ount equal to 90 p e r c e n t o f
d iffe r e n c e b etw een $ 4 , 000 and paym en ts r e c e iv e d .
3 T e rm in a te d f o r any r e a s o n and e m p lo y e d in in d u stry f o r 3 o f 5 y e a r s im m e d ia te ly p r e c e d in g te rm in a tio n . W ith 10 th rough 14 y e a r s o f union m e m b e r s h ip and p e r m a n e n tly d is a b le d , $600 lum p
aum ; 15 through 19 y e a r s o f union m e m b e r s h ip , $ 1 ,2 0 0 ; 20 through 24 y e a r s o f union m e m b e r s h ip , $ 2 , 400; 25 o r m o r e y e a r s o f union m e m b e r s h ip and not e lig ib le f o r r e t ir e m e n t b e n e fit, $ 2 , 400.
4 U nion m e m b e r s h ip and e m p lo y e d at tim e o f death f o r 2 y e a r s and r e t ir e m e n t b e n e fits not a p p ro v e d .
5 E x clu d e s p r e m e m b e r s h ip s e r v ic e .
6 In clu des p r e m e m b e r s h ip s e r v ic e .
7 L ife annuity b e n e fit (o p tio n ) f o r w idow a ls o a v a ila b le upon death o f w o r k e r w ithin 1 0 -y e a r p e r io d p r i o r to n o r m a l r e t ir e m e n t date.




67

UDRCLETV BRA I G
NE OLCI E AGI N
N
D ISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

Minimum
requirements
Benefit formula
Age

Type, conditions.
requirements

Service

INVOLUNTARY
1 RE TIR EM E N T

V ESTIN G

Benefit formula

Compulsory
at a g e -

DEATH B E N E F IT S

Before
retirement

After
retirement

T e rm in a tio n
b e n e fit f o r
w h ich e lig ib le
(s e e fo o tn o te
3) e x c e p t
$ 4 , 000 f o r
25 y e a r s o f
union m e m ­
b e r s h ip , plus
$ 1 ,0 0 0 .

Automatic
at age -

FINANCING
MEDIUM
O F FUNDING

$ 4 , 000, le s s
b e n e fits r e ­
c e iv e d p r o ­
v id ed that
lum p sum
p aym ent
a v a ila b le
u nd er n o r m a l
b e n e fit has
not b e e n
m a d e.

Fmploype

(Y ea rs)

1

25

M onthly— $70 f o r 3b o r m o r e y e a r s
o f s e r v ic e , and $60 f o r 25 through
34 y e a r s o f s e r v i c e . *

(3)

F u ll
T r u s te e d ;
B ip a rtite.
s e lfc o s t ---$ 6 p e r ad m in istered
w ork er
per
w eek ,
plus
a d d ition al
am ounts
f o r bulk
and
s to r e
rou tes.

(4)

Joint and
s u r v iv o r .7

ADMINISTRATION

Employer

6 10

N o rm a l b e n e fit, paya ble im m e d i­
D e fe r r e d fu ll.
a te ly ; plus am ount equal to p r im a r y
S o c ia l S e c u r ity b e n e fit, p a y a b le until T e rm in a te d f o r any
e lig ib le f o r su ch b e n e fit; m in im u m —
reason .
$ 10 0.
10 y e a r s o f s e r v i c e . 5
L e s s S o c ia l S e c u r ity d is a b ility
b e n e fit.

N o rm a l b e n e fit,
p aya ble at
age 65.

65

A c tu a r ia l e q u iv ­
a len t o f n o r m a l
b e n e fit, paya ble
anytim e during
1 0 -y e a r p e r io d
p r i o r to age 65;
or n orm al b en e­
fit, p aya ble at
age 65.

65

W o r k e r 's
co n trib u tio n s
plus in t e r e s t .

W o r k e r 's
con trib u tion s
plus in t e r e s t ,
le s s b e n e fits
r e c e iv e d .

2 per­
cen t o f
annual
ea rn in gs
exceed­
ing
$ 3 , 600.

B a la n ce In su red;
o f c o s t . grou p
annuity.

E m p lo y e r .

A t age 65, n o r m a l b e n e fit p a y a b le .

Joint and
s u r v iv o r .
Level
in c o m e
(E a r ly ).

10

M onthly— 2 p e r c e n t o f total e a r n in g s ,
d ivid ed b y 12.
Upon r e c e iv in g S o c ia l S e c u r ity d is a ­
b ilit y b e n e fit, o r at age 65, n o r m a l
b e n e fit p a y a b le .

D e fe r r e d fu ll.
T e rm in a te d f o r any
reason .
10 y e a r s o f s e r v ic e .

65

W o r k e r 's
B e n e fic ia r y
co n trib u tio n s r e c e iv e s
plus in t e r e s t . g r e a te r o f;
(1) w o r k e r 's
con trib u tion s
plus in t e r e s t ,
le s s b e n e fits
r e c e iv e d , o r
(2) 12 tim e s
m on th ly
b e n e fit b a s e d
on a c c r u e d
s e r v ic e a ft e r
D e c . 31,1946 .
(10)

2. 6 p e r B a la n ce
cen t o f
of co st.
fir s t
$ 3 , 000
o f annual
e a r n in g s ,
and
4 p ercen t
o f earn ­
in gs e x ­
cee d in g
$ 3 , 000.

In su red ;
grou p
annuity.

E m p lo y e r .

8 A d ju sted past s e r v ic e ea rn in g s equ a ls m ean o f a v e r a g e ea rn in gs d u rin g 5 -y e a r p e r io d ending D e c. 31, 1946, and a v e r a g e ea rn in gs du rin g 5 -y e a r p e r io d ending D e c . 31, 1951.
9 p r e v io u s past s e r v ic e fo rm u la is 1. 5 p e r c e n t o f a v e r a g e ea rn in gs d u rin g 5 -y e a r p e r io d ending D e c. 31, 1946, tim e s y e a r s o f s e r v ic e to n o r m a l r e t ir e m e n t d ate, le s s 60 p e r c e n t o f p r im a r y S o c ia l
S e cu rity b en efit in e f fe c t D e c. 31, 1946; the r e s u lt m u ltip lie d by r a tio o f n u m ber o f y e a r s o f s e r v ic e as o f D e c . 31, 1946, to y e a r s o f s e r v ic e as o f n o r m a l r e t ir e m e n t d ate.
10 E m p lo y e r a ls o p r o v id e s a m onthly su p p lem en tal b e n e fit to w idow o f r e t ir e d w o r k e r w h ose death o c c u r s a fte r attainin g a ge 65 in an am ount by w h ich 50 p e r c e n t (r e d u c e d Vio of 1 p e r c e n t fo r ea ch
m onth ex c e e d in g 5 y e a r s that her age is l e s s thfin h e r h u sba n d 's) o f h u sba n d's r e t ir e m e n t b e n e fit e x c e e d s a m on th ly in c o m e w h ich co u ld be p r o v id e d by total death b en efit (le s s $ 1 ,0 0 0 ) under com p a n y
plans, includ ing grou p life in su ra n ce (m a x im u m am ount fo r w hich w o r k e r c o u ld be c o v e r e d ) , sta ff group in s u r a n c e , and r e tir e m e n t plan.




68
SLCE PNI NPAS
EETD ESO LN
ILL U ST R A T IV E MONTHLY PENSIO NS
NORMAL R E TIR EM E N T

a t a g e 6 5 u n d e r n o r m a l r e t i r e m e n t fo r m u la

EA R LY R E TIR EM E N T

i n c l u d i n g p r im a r y S o c i a l S e c u r i t y b e n e f i t s

COMPANY, UNION, AND
D ATE O F INFORMATION

P A R T IC I­
PATION
REQ U IR EMENTS

Minimum
requirements
Age

B ro n x R e a lty A d v is o r y
B o a rd , I n c . , and o th e r
e m p lo y e r s (New Y o rk ,
N. Y . )

_
_

.65

Service
(Y e a rs )

120

Service
credited

Benefit formnla

normal
*g e

A ll.

M onthly— $ 4 0 f o r 30 o r m o r e y e a r s o f s e r v ic e , re d u c e d $1
p e r m onth f o r e a ch y e a r l e s s than 30 to a m in im u m o f $30
f o r 20 y e a r s o f s e r v ic e .

A ft e r 25 y e a r s o f futu re s e r v ic e :
$ 1 3 3 .5 0
$ 1 4 3 .5 0
$ 1 4 3 .5 0

Minimnm
requirements
Benefit formula
Age

_
_

Service
(Y ea rs)

___

___

A fte r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0

B u ildin g S e r v ic e
E m p lo y e e s , L o c a l 3.2E

A ft e r 35 y e a r s o f futu re s e r v ic e :
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0

D e ce m b e r 195 7

H otel A s s o c ia t io n o f
N ew Y o r k C ity , In c.

Assuming average annual earnings of—
83,600
84,200
85.000
and including present primary Social
Security benefits of—
898.50
8108.50
8108.50

_

65

*15

A ll..

M onthly— $ 1 . 60 tim e s y e a r s o f s e r v ic e to a m a xim u m o f
25 y e a r s .

A ft e r 25 y e a r s o f fu ture s e r v ic e :
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0

N ew Y o r k H otel T ra d e s
C o u n c il

___

___

___

_
_

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0

O cto b e r 1957

___

A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 3 8 .5 0
$ 1 4 8 .5 0
$ 1 4 8 .5 0

V a rio u s e m p lo y e r s ,
St. L o u is , M o .,
area
T e a m s t e r s , L o c a l 688
F e b r u a r y 1958

_
_

65

(3)

N o n e .4 M onthly— $30 plus $1 tim e s y e a r s o f s e r v ic e .

A ft e r 25 y e a r s o f fu tu re s e r v ic e :
$ 1 5 3 .5 0
$ 1 6 3 .5 0
$ 1 6 3 .5 0

__

A ft e r 30 y e a r s o f fu tu re s e r v ic e :
$ 1 5 8 .5 0
$ 1 6 8 .5 0
$ 1 6 8 .5 0
A ft e r 35 y e a r s o f fu tu re s e r v ic e :
$ 1 6 3 .5 0
$ 1 7 3 .5 0
$ 1 7 3 .5 0

1 20 y e a r s o f un ion m e m b e r s h ip , and e m p lo y e d b y co n trib u tin g e m p lo y e r s f o r 40 o f 60 m onths im m e d ia te ly p r e c e d in g r e t ir e m e n t .
* 15 y e a r s o f s e r v ic e in in d u s tr y and ( l ) e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s f r o m June 1, 1952, to r e t ir e m e n t date, o r t h e r e a fte r , e m p loy m en t w ith c on trib u tin g e m p lo y e r s fr o m an y date
p r i o r to D e c . 1, 1952, to r e t ir e m e n t d ate, (2 ) e m p lo y m e n t w ith c o n trib u tin g e m p lo y e r s fr o m date e m p lo y e r w as f i r s t o b lig a te d to c o n tr ib u te , to r e t ir e m e n t date (m in im u m o f 24 m onths a ft e r A u g . 31,
1954), o r (3) i f not e m p lo y e d a s in ( l ) o r (2 ), e m p lo y m e n t w ith co n trib u tin g e m p lo y e r s 10 y e a r s im m e d ia te ly p r e c e d in g r e t ir e m e n t date.




69
UNDER COLLECTIVE BARGAINING

D ISA BILITY RETIR EM E N T
NORMAL
AND EA R LY
R ETIR EM EN T
B E N E F IT
OPTIONS

M um
inim
requirements
Benefit formula
Age

Service

INVOLUNTARY
R E TIR EM E N T

VESTIN G

Type, conditions,
and miaiaiaai
requirements

Benefit formula

Compalsory Automatic
at age at age •

DEATH B E N E F IT S

Before
retirement

After
retirement

FINANCING
MEDIUM
O F FUNDING

Fmployee

ADMINISTRATION

Employer

(Y ea rs)

F u ll
c o s t ---$5 p er
w ork er
per
m on th .

60

Joint and
s u r v iv o r
(N o r m a l).

* f5

M onthly— $1.60 tim e s y e a r s o f s e r v i c e io a m axim u m o f 25 y e a r s .

F u ll
c o s t ---2 per­
ce n t o f
tota l
w ages.

T r u s te e d ;
B ip a r tite .
s e lfa d m in istered ,

3 10

M onthly— g r e a t e r o f: ( l ) $ 2 5 , o r
(2 )
tim e s y e a r s o f s e r v ic e du rin g
w h ich co n trib u tio n s w e r e m ad e in
w o r k e r ’ s b e h a lf.

F u ll
c o s t ---5 p e rce n t
o f gross
m on th ly
p a y r o ll.

C om bin ation :

P e r io d
c e r ta in
(N o r m a l).

3 10 y e a r s o f s e r v ic e in clu d in g 1 y e a r im m e d ia te ly p r e c e d in g r e t ir e m e n t i f not e m p lo y e d on date e m p lo y e r f ir s t b e c a m e
ced in g r e t ir e m e n t i f e m p lo y e d on date e m p lo y e r f i r s t b e c a m e o b lig a te d to c o n trib u te to plan . S e r v ic e in clu d e s ( l ) e m p lo y m e n t
under u n ion ’ s c o lle c t iv e b a rg a in in g a g r e e m e n ts p r i o r to Jan. 1, 1953, i f e m p lo y e d on date e m p lo y e r f i r s t b e c a m e o b lig a te d to
*
W o r k e r e m p lo y e d on date e m p lo y e r f i r s t b e c a m e o b lig a te d to co n trib u te to plan , w ho had attained a ge 64 on o r b e f o r e




T r u s te e d ;
B ip a rtite .
s e lfad m iiiistered ,

T r ip a r t it e .

T r u s te e d ;
s e lfa d m in istered .
In su red ;
d e p o s it ad­
m in is te r e d .

o b lig a te d to con trib u te to plan , o r 1 y e a r o f s e r v ic e im m e d ia te ly p r e ­
w ith co n trib u tin g e m p lo y e r s a ft e r D e c . 31, 1952, and (2) em p loy m en t
co n trib u te to plan.
su ch date, m a y a c c r u e s e r v ic e f o r 1 y e a r r e g a r d le s s o f a g e .




71

Union Identification

This listing presents the full titles of the unions referred to in the plan summaries. The names used to identify unions in the summaries
are shown m bold type. Unions not affiliated with AFL-CIO are noted as independent (ind).

Alum
inum W
orkers International Union.
International Union, United Automobile, Aircraft and Agricultural
Im
plem W
ent orkers of America.
Bakery and Confectionery W
orkers’ International Union of America (Ind).
Building Service Employees’ International Union.
United Brotherhood of Carpenters and Joiners of America.
International Chemical W
orkers Union,
Amalgamated Clothing W
orkers of America.
The Commercial Telegraphers’ Union.
Communications W
orkers of America.
International Brotherhood of Electrical W
orkers (IBEW
).
International Union of Electrical, Radio and Machine W
orkers (IUE).
United Furniture W
orkers of America.
Glass Bottle Blowers Association of the U. S. and Canada.
United Glass and Ceramic W
orkers of North America.
United Hatters, Cap and Millinery W
orkers International Union.
Hotel and Restaurant Employees and Bartenders International Union.
Independent M
etal W
orkers Union (Ind).
Insurance Agents International Union.
Insurance W
orkers of America.
International Longshoremens Association (Ind).
International Ladies9 Garm W
ent orkers’ Union.
Amalgamated Lithographers of America.
International Longshoremen’s and W
arehousemen’s Union (Ind).
International Association of Machinists.
Industrial Union of M
arine and Shipbuilding W
orkers of America.
National M
aritim Union of America.
e.
International Organization Masters, Mates and Pilots of America.
Amalgamated M Cutters and Butcher W
eat
orkm of North America.
en
International Union of M
ine, M and Smelter W
ill
orkers (Ind).
New Hampshire Shoe W
orkers Union (Ind).
New Hampshire Shoe W
orkers Union of Manchester (Ind).
New York Hotel Trades Council (association of various unions in
hotel field).




American Newspaper Guild.
Office Employes’ International Union.
Oil, Chemical and Atomic W
orkers International Union.
United Packinghouse W
orkers of America (UPWA).
Brotherhood of Painters, Decorators and Paperhangers of America.
United Papermakers and Paperworkers.
United Association of Journeymen and Apprentices of the Plumbing
and Pipe Fitting Industry of the U. S. and Canada (Plumbers).
International Leather Goods, Plastic and Novelty W
orkers’ Union
(Pocketbook W
orkers).
International Brotherhood of Pulp, Sulphite and Paper M W
ill orkers.
Retail Clerks International Association.
Retail, Wholesale and Department Store Union.
United Rubber, Cork, Linoleum and Plastic W
orkers of America.
Sheet M
etal W
orkers* International Association.
Standard Allied Trades Council (various unions collaborating in
negotiation of single agreement).
United Steelworkers of America.
Amalgamated Association of Street, Electric Railway and M
otor
Coach Employes of America.
International Brotherhood of Teamsters, Chauffeurs, W
arehousemen
and Helpers of America (Ind).
Textile W
orkers Union of America (TWUA).
Tobacco W
orkers International Union.
Transport W
orkers Union of America.
International Typographical Union (Typographers).
United M W
ine orkers of America (Ind).
Upholsterers’ International Union of North America.
Utility W
orkers Union of America.
International Woodworkers of America.

*USGVRMTPI T GFI E 15 0 485
. . OENE R I O C : 98 — 81
N NN F
6





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102