The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-02-22

Further evidence of the progressive
policy which has made the Lackawanna
railroad so conspicuous among our
leading railways is found in the an
nouncement made yesterday by it's
management that a pension system for
the benefit of employees who have faith
fully served the company would be
placed in effect March 1. The adoption
of pension department has been
favored by President Truesdale almost
from his Identification with that COM
pany in 1890, and the plan which has
Just been adopted by the board of man
ayers of the Lackawanna has been the
subject of a careful and prolonged eX-
animation and study on his part, with
a view to Incorporating therein the best
features Of those methods which have
been in effect with other large corpor-
ations, together with such provisions as
were necessary to meet the conditions
applying particularly to the Lacka-
wanna railroad.
Under this system any employe en-
gagged for twenty-five years in any
capacity in the operation of the rail-
road proper, who has faithfully per-
formed his duties, is to be retired at 65
years of age. and receive, after his hon
orabe retirement, a monthly allowance
dependent in amount Upon his pay and
length of service.
AMOUNT FOR THIS YEAR.
The fund from which such payments
will be made will be regularly appro-
priated each year by the company, en-
ployes not being required at any time
fn I, 4, ri hpt "a npt
of the pension system or to add to the
fund from which benefits will be made.
To meet pension claims during the re-
mainder of the year 1902, an appropria-
tion of $4,000 has been made, an
amount as large in proportion to the
number of employees as has been set
aside by any other large corporation
which has established the pension sys-
tenn.
Any employe actively engaged for
twenty-five years in the railroad de-
partment of the Lackawanna railroad
comes within the operation of the pen
sion system. and his time of service will
be computed from the time he began
work upon the Lackawanna railroad
proper or upon any of it's branches. The
amount of pension will depend upon
two conditions the number of years
the person has served the company
and the amount of his average regular
monthly pay for the ten years next
preceding his retigement.
IT, for instance, the average monthly
pay for the ten years preceding retire
ment has eQualled $50 per month, and
the employe has been in the company's
service thirty years. his pension will be
SIS per month, an amount equal to one
per cent. per year, for thirty years. of
an average monthly salary of $50. The
pension board also has power in case
u faithful employe has received injuries
which totally incapacitate him from his
regular or other avocations. to consider
his case, award a pension, if it is con-
sldered merited, and fix the time dur
ing which such pension shall be paid.
THE RETIREMENTS.
Retirements under the pension fund
will be voluntary and Involuntary: that
is. all employees Go years of age and over
will be considered as having attained
the maximum age limit for active ser
vice, and will be retired and placed
upon the pension fund roll, provided
they have been twenty-five years or
more in the company's service, while
those whose ages range from sixty to
siXty-four years inclusive, and who in
the opinion of the pension board have
become physically disqualified or other
wise permanently incapacitated after
twenty-five or more years of service
may be either voluntarily or by decis-
ion of the board retired and pensioned.
In computing service, it will be reck-
oned from the date since which the en-
ploye has been continuously in service,
except leave of absence, suspension, or
dismissal, followed by reinstatement
within one year or temporary lay-off
on account of reduction of force when
unattended by other employment. will