New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-12

The Ransen Civil Service Pension bin which
has Just passed the Assembly is utterly IN
scientific ana lacking in the safeguards neces-
Eary 10 q sound system Of retirement pensions.
II purports 10 provide for the establishment OF
a retirement fund from the contributions Of civil
servants with only incidental aid from The city.
in operation il would amount 20 a gigantic raid
on the treasury; for the contributions OF the
boncfciarics would he entirely inadequate 70
The claims and the city would have 10 provide
the bulk OF the fund. The bin limits the city's
annual payment 10 ] per cent Of the excise
money. but as the bin elsewhere provides that
the annuiues shall be Tor life, and shall not be
repealed, revoked or diminished. and likewise
gives employees who comply with its provisions
an absolute right of-retirement it is evident
that there would be legal claims against the
city which IL would be obliged 10 meet, no
matter how large they might be. The limit
of the bin IS mere screen 70 hide from view
the enormous obligations under which the city
would he placed by the measure.
Retirement pensions are not n new thing.
Governments and railroads have established
them, and actuaries have reduced the financing
Of them 10 a science. THIS scheme violates
every established principle Of annuity fund
accumulation. Any person who has served the
city twenty-five years IN the aggrecate-it need
not be consecuuvely-may retire o. his own
application with an annuity equal to half his
salary az the time Of the application. but not IN
ANY case 70 exceed $500 provided he has con-
trfbuted 70 the fund minimum Of - per cent
Of that annual salary. The city in turn may re-
tire FOR incspacity civil servants who have
served ten years on IN annuity OF such part OF
half their salary as their term Of service IS
proportional 10 twenty-five years. To secure
This pension new employe must within one
per cent Of his salary for the first ten years
az service, per cent for tie second ten years,
3 per cent for the third and per cent for any
remaining term ~ active employment. A pres
ent employe may give notice within three
months after the bills passage and contribute
according IL the number OF years he has al
ready been in service.
As the bin permits the payment OF necessary
contributions in lump sums. allows present en-
ployes 70 participate without further service.
and makes the latest and presumably the high
est salary the basis CT n pension. instead OF the
average salary. as most annuity systems do, IT
IS evident that the scheme is open 10 great
abuses. Under this plan il would be possible
for a clerk of twenty-five years service who
had never earned Sl.00O n wear 20 be Put into
n 5000 place, 10 pay down $3.50 IN n lump
sum next September, and draw a pension al
$500 q year for the rest Of his lifel This 1.
just a sample Of the way the city could be
indicted II this bin became a law. A commits
sOner or deputy who had twenty-five years Of
Official service behind him in any CAPACITY. from
laborer MP. continuous or in odd spells. coull
retire With a FAT annuity. The opportunities
Tor old men now holding Office 70 get pension
for small payments are so great under the pro
posed measure that there would be little fnceu
rive For younger men 20 contribute. rlie oide.
men would have depleted the fund AID IN