The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1912-01-23
WOULD PURCHASE
ANNU|T|ES FOR THE
FEDERAL EMPLOYEES
Attorney Louis T. Kitchener
Opposed TO Government
Pensions for Clerks.

Opposed to the administration Of q
retirement pension fund by the Govern
ment, because he thinks II bad gov
eminent and bad business, Louis T.
Kitchener, an attorney, who has paid
much attention to the question Of re-
tirement pensions, believes better and
cheaper results can be obtained By
the purchase of annuity contracts
from number of sound old-line in
surance companies.
Il am not interested in any insurance
company and am speaking only be-
cause have long been convinced that
Government clerks should be pen-
stoned.
THAT the Government should be re-
sponsible for the administration of
pension fund is too much paternalism.
like to see individual effort encour-
aged whenever 1t can be. II the Gov
eminent undertakes to handle the pen
sion matter itself, there eventually will
be another big bureau filled with clerks
and costing much money.
Companies Familiar.
THE insurance companies are
familiar with this matter. They have
all the necessary machinery for as
ing the premiums where they will earn
the maximum rate of interest. The
Government must build its entire ad-
ministrative machinery from the ground
UP, and is exceedingly limited In the
Investment Of funds. II an insurance
company does not invest its funds
properly. the result is charged to
profit and loss. Il the Government
q hos ha In oxv g..
for some one. ...
I'VE have not long been familiar with
the annuity movement in this country
The English have known its value for
several hundred years. 1t Is q constit-
uent part of their business. and their
scheme Of investment.
THE pension subject, 30 far as It re-
lates to clerks. is only an annuity prop
osition. It is entirely a question Of how
cheaply the Government can provide a
annuity. pension or whatever you wish
to call 1t, after he has reached the re-
tirement age.
1.-The trend OF executive orders In this
country for the last twenty-five years
has shown the employees they will be re-
tained in the service as long as they
can give anywhere near efficient SER
method should be found whereby they
can be dispensed with before the last
ounce OF energy has been expended by
them.
In Their Old Age.
1T is only fair they should be taken
care OF in their old age. The security
Of their position leads most Of them to
spend little more freely than they
would II they feared losing their posi-
lions. and this condition. for which the
employee can hardly be blamed, ought
to be taken into consideration.
1.-THE average Government employe
lives up to every cent he makes. When
he reaches old age and Is still in the
employ Of the Government. it is only
the commonest kind Of Justice that an
annuity or pension be provided for him.
If the Government should adopt a
system Of purchasing annuity contracts
for employees, monopoly of the business
should be carefully guarded against, and
I believe 1t would be we'll to allow the
clerk himself to pick the company In
which hts contract should be written.
providing he choose company APP
proved by the Government after rigid
inspection as to its soundness and in
tegrity."