The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-20
.nPENS|ON EMPLOYEES
Pennsylvania Railroad Adopts
Such a System.
AS A MATTER OF RIGHT
Partly, But as Also in Line
With Business Policy.

InaL mas ulSDurSeo ak1onB It's CAaPaSSN
approximately SS0Oo.OcO. the Pennsylva-
MIA Railroad company Is about to put
into operation a plan that viii give to
everyone of its employees who has served
thirty years or reached the age Of sew
enty years a pension for the rest OF his
days.
The pension fund Is to begin its work
on January /, 1900, and thenceforth the
company viii increase the amount 1t has
been spending on relief from its own
treasury from a little more than 100000
annually to sS25.00o year. While the
pension fund is a distinct and separate
provision by thu company from Its own
funds for the benefit Of fits employees. and
win be operated from distinctively COM
pany standpoint its relation TO thu ex-
listing relief department win be such as
to make It appear at least outwardly, as
an auxiliary of the older department.
The relief fund, which has been inopera-
ton since 1886. being the second one or
ganized on any. of the great railroads OF
the country, Is formed Of contributions
from employees OF the company who vol
unfairly become members; appropriations
from the company. when necessary TO
make up deficiencies; income on invest
ments of the funds, and any legacies
that may be made to the company for
its use. The company takes general
charge OF the department, guarantees the
fulnlment of its obligations, according to
the regulations. takes care Of the funds,
supplies facilities for carrying on the
business of the department and pays all
its operating expenses.
Affairs of the department are admins
tered under the direction of an advisory
committee, composed OF the general man.
ager and members selected by the direc-
tors OF the company and by the employees
from among themselves. Members are
entitled to the payment Of death bene-
fits and weekly and sick and accident
benefits for periods not exceeding one
year, relief for a longer period being. I'M
der the present system. paid by the COM
pany. 1t has always been understood
that the company regarded payments OF
the latter sort as a temporary expedient
to prevent deserving employees coming to
distress until such time as a supeTanua-
ton or pension fund. such as that nov
contemplated should be established.
The relief department In its thirteen
years of existence. has paid In benefits for
disablement owing to accidents In the
service I'm. $50. and from disablement
from sickness SAL .s77.A.- Benefits for
death due to accidents in the service
have amounted to ssI4.524. and for deaths
from other causes g. 119 3Se. making a to-
tai of Sc, 49, 6s paid from the relief fund.
In addition to this there has been paid
by the company for operating expenses
81. O57, 40. for relief TO sick members who
had exhausted their title to benefits $309-
$50, and for deficiencies and In special
payments enough to make the total paid
by the company 8. 5Oe1e5. and a grand
total from the relief fund and the COM
pany Of S.s17.ss2. The accessions to
membership in 1893 were 7.75e. and 5.766
lost membership by leaving the service.
the deaths and Withdrawals numbering
527. the total membership at the end OF
the year being 45.14l. The surplus at
that date was se35.s7o.
During the early operation Of the pres
ent relief fund the pension adjunct was
brought in view. provision for that end
being made in the department Of regula-
lions. wherein il Is expressly stated that
such surplus as should arise during speci-
fed trIennlal periods OF the operation OF
the fund is TO be set aside as a founda-
ton for the approximation and pension |
fund.
Eventually special committee on su- |
and pension fund was ap- |
pointed by the advisory committee Of the |
relief department The committee ex- |
am!ned into and reported upon the vari- |
Gus systems Of pensIoning in operation on |
upward OF seventy Of the leading rail- |
woys OF Europe. America. Asia, Africa |
and Australia The information obtained. |
however. did not enable the committee TO
reach any conclusion as To the best plan
to be adopted. and Il became necessary /
10 give the matter original thought. and /
work IL out from that standpoint. rather
than upon any basis that existed. the re-
suit being an exhaustive preparation OF
statistical information embodying results
~ such a scheme from many different l
bases and finally the selecting OF one
carrying with Il the assurance OF sue
cess
While the plan az first involved made
for pensioning only members Of
The relief fund. the allowances 10 be
made from that fund. the directors OF the
Railroad company deter
mined that Il would BE- better FOR the
company 20 assume the obligation n pro
ride all OF its sUperannuated employees
/ pension allowance In addition To what
he relief fund could allow its members
The directors have created a board az
,ficcrs to control and administer re |
1ersion fund. consisting Of First Vice
President John p Green. Second Vice
President Charles 2. Pugh. Third Vice |
President Sutherland NJ Provost. Fourth
Vice President Samuel Rea. General
Manager Joseph Hutchinson and Assist
INT Controller Max Riebenack
RStlrements VIII be voluntary and IN
voluntary: that 10. all employees seventy
Tears old and over will - considered a.
Iaving attained, the maximum axe limit
or active service. and will he retired and
'iace-i upon the pension fund roll, whfls
hose whose ages range from sixtyIGve %
ixty-nsne yeas. and who. IN The opia-
N % tire fund administrators. have b.
ONE physically disqoaIEAea ~ oiherxise
incapacitafed after thirty or
more years % service. nay b either vol
,ntarily or arbitrarily retired and pen
toned
The pension allowance FOR such rerired
employees VII b. FOR each year % So
ice. a fixed per cen. % the acreage rsEr-
az pay for a spcsdc period Immediately
retirement. With = fair mint
nun monthly allowance Ore pes rent
or each year % aervsee g. iskely 20 b
he pension rate. fh0agh this AZ yes -
kangea 4