Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-12-08
CORPORATIONS TO
START PENSIONS
PLAN 70 FOLLOW TnI rLiN or
THL STEEL TRUST AND
OTHERS.
DEFINITE STATEMENT soon
Although No pan Has Been Forum
lated, the Movement f. Ncil
Under Way

NEW YORK. Dec 7.--The es'ah-
i.rhmcut of au old age pension fund
Jointly by Andrew Cauer.e and the
United states steel Corporation in
1910, and the recent announcement "t
tho American Telephone and Ioie-
graph Company that "a similar ana
more liberal provision for employee
would bo put into effect by that bnsl.
ness organization on January 1, 1913
has chrystalized IN general CAM
paign TO include these benefits IN Inc
business organizations 0l other l.fBe
corporations having their headqu T.
ters IN this city
No well defined step has been taken
openly by these corporations as yet
but It Is known that tho matter hag
been under adtiscWent by the heads
Of several of the foremost orgnlza-
tlons In the local business world nna
It ls expected that the termination 4
the present month Will see a definite
announcement as To the fate Of tho
project
These large organizations have been
nctuatcd 10 consideration of the pen
sion system by the obvious benefits
that have accrued TO the Unite states
steel Corporation through its estah-
lishment IN the way Of good win ana
appreclauye effort on the part Of rs
employees
The steel fund FOR old age pensions
was established In 1910 through ihe
Joint action Of Andrew Carnegie aud
the United States steel Corporation
The amount of money sci aside by th"
steel trust was ss 900 GOO, while Mr
Carnegie added t4000.000. making n
total pension fund Of l.,oOO,ooo,
This fund provided three classes "
pensions. First Pensions by com
pulsory retirement granted 10 EN-
ployes who have been twenty years rr
longer In the service and who nave
reached the age Of seventy years for
men and sixty years for women.
Second. Pensions by retirement at
request, granted 70 employees who
have reached the age Of sixty years
for men ana fifty years for women.
Third Pensions for permanent m
capacity, granted TO employees who
have been twenty years or longer IN
the service and have become permn.
nently lncapacitated totally through
no fault OF their own.
The amount Of the allowances made
TO retired and disabled employees un-
der the rules OF this fund cannot be
less than &13 per month, nor more
than 500 per month. The terms upon
which the pensions shall be issued are
at all times subject to the action of
the governing board 1t is also stpu-
lated that the employo must hA5o
given his entire time TO the services al
the company in order to be eligible FOR
the pension
Much more liberal terms are cm-
bodied in the $4,000, 600 provision
made by the American Telephone aud
Telegraph Compony. Male employees
who have reached tho age Of sixty
years and who have been 20 years uI
more I'm the service of the corporation
or any Of It's subsidiary companies
may retire on pensions. They may
also retire nj the option Of the COM
pany when thcy have reached the age
OF finy-five years and have been N
the service Of the corporation f9r
twenty-five Years Tho pension age cf
female employees IS in each case five
years younger than that ot the males
Any employc who hls been thirty
years IN the employ Of the corporation
may be pcnsIoned, regardless Of ago,
on the approval OF the president of
the corporation. The minimum pen
sion will not be less than $50 per
month.
In addition TO these provisions the
American Telephone and Telegraph
Company supplements its straight old
age pensions with far more .lerHl
sick and death benefits than those
established hy the United States steel
Corporation.
Tho regulations of the steel trust
fund provide that an cmploye wn.
has been On the service OF the company
for twenty years may be pcrsioned at
the discretion OF the board Of uus-
tees after total Interpretation throush
> no fault Of his own. The Amer.oiu
Telephone and Telegraph Company
pension regulations provide insurance
benefits up 20 $1,000 I'm cases whero
the cmpioye has met death IN the Ier-
formance uf duties. and up 20 $4,000
II he has met death through accident
or sickness outside the service. Both
OF these regulations are subject 20