Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1907-05-25
PENSION PLAN FOR BIZ 0.
President Murray viii Soon Be.
Ready to Make Report.
TO CARE FOR OLD EMPLOYEES.
baltimore and ohio Railroad Company
Now Has Fifty-five Thousand Men
On Its Payroll.

Now Has Fifty-five Thousand Men
On Its Payroll.
Il is probable that President Murray
of the Baltimore and Ohio railroad
viii make a report to the directors OF
dhe company at an early date on q
new pension plan for the system.
More than year ago Mr.. Murray
asked Maj. j. G. Panghorn, special
representative Of the company, to IN
yestigate the various pension systems
in use on the big railroads Of the
country and report on suitable one
for the Baltimore and Ohio Major
Panghorn has gone into the subject
very deeply and since being assigned
10 the task has visited varios parts
OF the United States collecting data
and studying pension systems. He is
now completing the preliminary drafts
on the new Baltimore and Ohio plan,
ard has already handed to the presi-
dem a section of his report.
The Baltimore and Ohio aims to
have in its new pension system all
that Is good in the various systems
nos in use on the various systems
avoid the evils. The Baltimore and
Ohio vas the first railroad in the
country to adopt a pension system.
which was in 1884 The plan was
different from those usually followed
now, on four years membership in
the e0mpanys relief department. the
pension feature being an auxiliary. In
1900 the company increased the an
nusl appropriation for pensions from
SIS coo to $4,000, which with an
available emergency fund Of $4,000
makes SSt 900 a year at the disposal
OF the company for pensioning, II it
is needed
When the system was found to be
in need OF revision Major Panghorn
was assigned to the task Of drawing
up new plan One of the first steps
taken by him was to take a census of
the employees in the service of the
company As the Baltimore and Ohio
employees number about $1,000, this
was no easy task, but after several
months of labor it was completed. The
company now has at it's central offices
in Baltimore a complete record of its
employees. together with data as to
when they entered the service, the
positions filed and the salaries receiv.
cd
There is perhaps nothing in the new
central building more interesting than
this record In many instances it
shows how a son has followed his
fathers footsteps in entering the en-
ploy of the road, and the history of
promotions IS interesting. Some of the
cards. however tell pathetic stories.
For instance, it will be noticed that a
man when quite young man became
a fireman, than a year or two later adj
vanced to the position OF engineer,
first being assigned to some minor
Tun, and then by degrees working him
self up to one of the best passenger
runs on the road. The card shows
how his salary has steadily advanced,
then suddenly it is noticed that he has
dropped 10 the grade of fiagman or
some other minor position, with a
what he had formerly been paid To
the experienced railroad man no ex-
PLANTATION of this is necessary. He will
at once recognize that the individual
has met with an accident and lost an
arm or a leg, or perhaps both. The
Baltimore and Ohio always aims in
sene way to care for lts employees
who meet with accidents in its SER
vice.
Just what the age of retirement will
he fixed at in the new pension plan
or the number of years of service nee.
essary to obtain the benefits has not
been made known. The Pennsylvania
railroad retires its men at 20. but
there is some talk of tho Baltimore
and Ohio making the limit 65. In his
report Major, Panghorn will outline
more than one system. every detail
of which he has carefully worked out
and will point out the advantages OF
each.