The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1912-12-07
LATEST PENSION PLAN
Benefits for Employees of N. E. Tele-
phone Company


New England Telephone Topics
prints a detailed account of the new
benefit plan just announced, effective
January l.
"The whole thing" says the mag
azine. lis so novel and so liberal that
at first it seemed like a newspaper
yarn. The plan will be administered
by a committee appointed by the
board of directors of the New ngland
Telephone & Telegraph Company. All
payments are made without contribu-
tons by any employee and on ac-
count of continued disability will be
made monthly and on account of dis
ability for short periods when the
amounts are ascertained.
The following class of employees
are eligible for pensions: Male en-
ployees 60 years old with continuous
employment of 20 or more years and
female employees 55 years with con-
tinuous employment of 20 or more
years may be retired at their request
or at discretion of the committee.
Any employee with continuous en-
ployment of 80 or more years or any
male employee SO years old with con-
tinuous employment of 25 or more
years or any female of so with EN-
ployment of 25 or more years may
be retired on the approval of the
president or designated vice presi-
dent of the company.
All in these classes shall on being
retired receive pension. The an
nual pension shall be as follows.
For each year of active service one
per cent of the average annual pay
during the 10 years next proceeding
retirement, provided that the commit
tee may at its discretion base such
pension upon average annual pay of
the ten consecutive years during
which the retired employee was paid
the highest rate of wages. The mini
mum pension shall be 800 month.
Pension shall continue until the
death of the pensioner and may in
the discretion of the committee be
continued to dependents until the
third calender month following death.
The acceptance of pension shall
not debar retired employee from en-
gaging in other business not preju-
uiNldl W Tic llltiCOlS vi Tic COMPANY
Accident disability benefits are pro
vided. Payments are full pay for 10
weeks and half pay for remainder of
disability not exceeding six years in
case of total disability; full pay for
13 weeks and half pay until able to
earn a livelihood, not exceeding six
years, partial or temporary disability
Such disability must be produced by
accident resulting solely from perfor-
nance of duty in the service of the
company. There are also sickness
disability benefits, all employees on
January / shall after a term of two
years employment be qualified to re-
ceive payment in case Of sickness.
There will also be insurance against
death by accident occurring in and
due to the performance of work for
the company. This shall equal three
! years wages computed at the stand
ard rate of pay for full time at date
of death but in no case shall il ex-
coed $4,000.
There will also be provision for
insurance for death by sickness not
to exceed $4,000. None but the fol-
lowing beneficiaries shall receive
payment on account of death of an
employee except upon good cause
shown.
First, wife or husband of employ
ee; second, if there be none, then to
the child or children or issue; third
to relatives dependent upon employ
ee's earnings; fourth, the benefit
shall lapse after defraying certain
expenses.
Benefits may be suspended or ter
minated in cases of gross misconduct
Leave of absence or temporary lay
off on account of reduction of force
is not to be considered a break in
continuity of service but when 1t
exceeds six months shall be deducted
in computing length of service.
In case of grave injury or chronic
sickness where employee desires to
accept lump sum in full of all obi
cations of the company arising from
the benefit, the committee has au-
thority to make final settlement
Death benefits will not be payable
in case of death due directly or in
| directly to unlawful acts or at the
hands of justice.