The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1902-02-27
LAOKAWANNA's NEW PLAN.
The Management adopts a Pension System
For the Benefit Of Employees.

Further evidence of the progressive
policy which has made the Lacka-
wanna Railroad so conspicuous among
our leading railways is found in the
announcement made yesterday by its
management that pension system
for the benefit Of employees who have
faithfully served the company would
be placed in effect on March 1. The
adoption of pension department has
been favored by President Truesdale
almost from his Identification with
that company in 1899, and the plan
which has just been adopted by the
board of managers of the Lackawanna
has been the subject of careful and
prolonged examination and study on
his part.
Under this system any employe
engaged 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
sixty-fve years of age, and receive
after his honorable retirement, a
monthly allowance, dependent in
amount upon his pay and length of
service. The fund from which such
payments will be made will be regu-
larly appropriated each year by the
company. employees not being required
at any time to pay anything either for
the support Of the pension system or
to add to the fund from which benefits
will be made.
Any employe actively engaged for
twenty-five years in the railroad de.
partment of the Lackawanna Railroad
comes within the operation of the
peusion system, and his time of service
will be computed from the time he
began work upon the Lackawanna
Railroad proper or upon any of its
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 retire
ment. If, for instance, the average
monthly pay for the ten years preced-
ing retirement has equalled 500 a
month, and the employe has been in
the company's service thirty years,
his pension will be SIS month, an
amount equal to per cent. year,
for thirty years, of an average monthly
salary of 500. The pension board
also has power In case faithful en-
ploye has received injuries which to-
tally incapacitate him from his regu-
lar or other avocations to consider his
case, award pension, If it is consid-
cred merited, and fix the time during
which such pension shall be paid.
"This pension system has been
adopted by the Lackawanna Rail
road" said one of the officials who
was active In arranging the details of
the plan, Sin the interests both of the
men and the service. The company's
benefits consist for most part in the
added efficiency of service naturally
consequent upon the employment of
younger and more active men in the
stead of those whose age has rendered
their retirement beneficial both to
themselves and the service also in
establishing more fully the spirit of
cooperation and of mutual interest
of employer and employe, thereby
to unity of effort and
of action, which are essen
tial to the successful management and
conduct of a great railway company.
From the standpoint of the men, It
is primarily intended as giving assur-
ance to faithful employees that, after
a certain period of service, and when
they are attaining an age where they
are not SO we'll adapted for the per-
tormance of their work, they shall
have provision for their future support.
The board of officers selected to
administer the affairs of the pension
under the direction of the
president of the company, are Gen.
eral Superintendent T. E. Clarke,
General Auditor o. c. Post, Chief
Engineer w. X. McFarlin, Superin.
tendent of Motive Power and Ma
chlnery T. S. Lloyd and Traffic Man.
ager B. d. Caldwell. At the organ
ization of the board Traffic Manager
Caldwell was elected chairman and
General Auditor Post secretary.