Omaha daily bee., 1911-11-07
ARMOURS PENSION employees
New System is Made Effective First
of November.
TWENTY YEARS OF SERVICE
Fund of Million started and Emf
DIOyes VIII Pay in Three Per
Cent of Their Salaries
to Maintain IL.

Armour & Co. yesterday instruc.
ted the pension system for theiI
employees Throughout the United States
the Armour interests have i25 branch
houses besides their big plants. These
houses and plants employ approximately
$1,000 men. or this number about 1900
are eligible for the pension lists. Yes
terday was the opening day of the fiscal
year in the Armour plants-hence the
announcement at this time. The de-
tailed lists of those eligible will be an
nounced after the trustees have eX-
amined into the matter.
r. c. Howe, general manager Of the
plant at South Omaha, issued the fol-
lowing statement regarding the pension
plan:
Armour & Co. instituted pen
sion plan for it's employees throughout
the United States effective November /.
The fund is created for the benefit Of
salaried employees, who, after long and
faithful service, shah have reached the
age of from 81 to IS years and who have
been twenty years or more in the service
of the company Employees having served
twenty years or longer and reaching
81 years OF age, may be epn-
stoned on application at the dis
erection of the board of trustees Employees
having served twenty years or more and
reaching the age of co years may demand
retirement.
Employees having served twenty years
or more and reaching the age of 65 years
are to be retired.
Armour & Company contribute $1,000
600 for the maintenance of the fund; EN-
Me trfA of
their salaries annually.
Employees on retirement receive per
cent Of the salary paid them at the time
of retirement for each year OF service,
|. e.. having served, say twenty-five
years receive 80 per cent Of their salary
on retirement.
mo distinction between men and
women employees is made except that
women may be retired at 50 years Of
age having served the twenty years.
Provision is made for employees who have
been fifteen years or longer in the serv-
Ice, even though under 81 years, the
age for retirement, If incapaci-
tated through sickness or injury, may be
pensioned at the discretion of the board
of trustees.
Widows and children OF a deceased
employe are provided for in the follow
ing manner: Upon the death of an en-
ploye who has been In the service more
than fifteen years there is to be paid TO
the widow. and IL no widow, to the chill
dren under IS years OF age, per cent
OF the salary OF the husband for each
year of service. II he had not completed
fifteen years of service, then there is
returned to the widow, or If no widow,
to the children under IS years OF age, all
moneys that the employee may have paid
into the fund during his lifetime, with
interest. If an employe dies after hav-
ing served twenty years or longer then
the widow or his children receive one
half of the pension 10 which he would
have been entitled on retirement age.
To the women employees, upon their
marrying any time within the twenty
years Of service, the moneys paid by
them into the fund is returned at time
Of marriage, and there is also returned
to the employees vino resign before reach
ing the retirement age the moneys
which they paid into the fund
THE management OF the pension plan
and fund is in a board Of trustees con-
slsting Of a. Watson Armour, Alfred r.
Urion and Frederick w. Crol, Officers
and employees of long standing in the
Armour business