Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1908-01-01
WAS DEERE 'SPlAN|
Pension System lnauoufated in
Molire Factory Scheme Of
Its. Late President.
PROVISIONS INTERESTING
Details of New Departure for Em-
ploye's Renefit-insuranee Funds
Are Also Created.

The pension system to be inaugura-
ted in the Deere & Co. factory In Mo-
line, is plan which the late G. Ii.
Deere contemplated putting into execu-i
tien at an early date, some little time
before his death. His illness inter-
fered and prevented him from perfect
ing the scheme and putting it in force.
The general plan of the system was
stated in The Argus of last evening.
The details of the plan are OF inter-
Jest, because of the unique character
of the provisions. The plan has been
worked out since the death of Mr..
Deere, although it had been practically
decided before that time that pen
sion system of some character would
be established.
Handling of Funds.
The handling of the pension funds
| is placed in the hands of a pension
board, to be composed of five men,
bers. These men are to be members
or employees of Deere & Co., and are TO
be appointed annually by the board of
directors, to serve for the succeeding
year, or until their successors are ap-
pointed. The board shall have, sub
ject to the action of the directors, the
Ipower to elect a chairman and secre-
tary; to authorize the payment of such
pension allowances as have been pro-
vided for, and to make or enforce
rules for the efficient administration
of the pension fund, and decide within
the general limits prescribed by the
directors such questions as may arise
in connection with the pension sys
tenn. Any action of the pension boart
requires vote of at least three mem
bers.
| Those Benefited.
All employees engaged in any capaci
ty in the operations of the company
who have reached the age of 65, an(
have been at least 90 years in the EN-
ploy, continuously, of the company
may be retired from active seryict
and become eligible to a pension
Those employees who have been 10 O
more years continuously employed
and who by reason of injury or sick
mess, become totally incapacitated fo
/ further work for the company, may O
Imay not receive an allowance. at tn,
discretion of the company. If an al
/, lowance is granted, 1t shall be for sucl
amount and for such a period as tn,
pension board may determine. No pei
son entering the employ of the com
pany later than the age Of 45 shall b,
eligible for a pension.
Allowance Provided. ~rwNssz
The annual pension allowance TO
employees retired under the age pre-
vision shall be, for each year of activ
service 1 per cent of the average an
nual pay during the 10 years just pre-
sion shall be less than SIS month
The pension allowance snail be pai
monthly from date of retirement t
death, and at the discretion of the per
sion board, allowances may continu
to widows or children for a furthe
IpCllOu lOI W CACCCu Olt sSdIs
| The acceptance of a pension shal
not prevent any retired employe fror
engaging in any business which in tn
; Judgment of the pension board is nc
i prejudicial to the company. Assign
ment or garnishment of pensions
i. prohibited. Pension allowances ma
be suspended or terminated by tn
pension board in all cases of miscol
duct on the part of the beneficiary, tn
+. board being the sole judge of such mi
: conduct. The company reserves th
: right to discharge for any cause an
employe, and states that the allowano
/ of pension is not to be construed q
giving to any employe the right to b
4 lretained in the company's service, {
! any right to a pension allowance.
The First Board.
IL Four members of the first pensio
u board have been appointed. and thes
i B. F. Peek, Fred Cooper, G. w. Mi
81 ter and George Wilson, will appoint
/ fifth from the shop.
Il An examination of old payroils ind
Q Gates that the following are eligib
now for pensions: E. Wilke, Am'
: Borgert, William Johnson, Gust Cal
son, Bengst Peterson, Fritz Kohl,
la. Gustus, G. A. Hallcuist, August M
lin, Charles Anderson, A. Bratt, Jof
4 Lindstedt, John M. Quick. A. Asp
Martin Metzgar, Charles Kulvihill,
n Bloom, Claus Tegge. p. A. Samuelso
all. A. Bartlett, C. G. Dahlberg, Jol
n Bodine, Henry Lau, j. X. Nelson, A
Idrew Johnson, Charles Erickso
ID George Griffin, Dennis Mckinney.
Ell Benefit Insurance.
-ol The benefit Insurance established
erl the company in connection with {
i'd pension measure is Similar to insI
lance regulations in force among e.
It. lployes of railways and a few lar
\ ~~xerI l. r..