New Britain herald., 1916-07-31
SWIFT & @. TO
 PROVIDE PENSIONS
Fund Now Amounts to $2,00O,O0O
 All Given by Concern

TWO million dollars was the gift
 made. by Swift 6s Co. to their emn1oves
 tooay' Announcement of the accum-
 uIatlon of this sum during the past six years m the form of a pension fund, occasloned much qualification to workers in the plants and branch houses in all cities where it was made simultaneously. It is estimated that more than 30,O00 men and women are eligible, in time to come under the provisions of the fund, which becomes active August l.
 One of the striking features of the plan as outlined is that the employees do not contribute to the fund, the company furnishing absolutely all money needed to pay pensions. Tn this connection it is expected that Swift & company will be called upon to pav $40O,OO0 a year in addition to the in come from the fund, in order to meet tho demands
 In Chicago alone 5000 persons will come under the plan as outlined. Of these number are already elieiblc and their cases will be passed upon bv the board of pension trustees within a comparatively short time.
 The pension board as organized will consist of five mem bers who are off, cers or employees of Swift & Company. They are to be appointed annually by the board of directors to serve one year or until a successor is named The board will elect a chairman and
  pany is ex-officio treasurer of the fund.
 The salient point of the plan as out lined in the formal announcement to employees follow:
 1. The employees do not contribute to the fund.
 2. Income from the $2,OOO.OOO foundation fund is large enough to be supplemented annually by Swift 6s Company until the fund is large enough to meet the necessary de- mands.
 3. More than 3O,oOO employees to benefit by the announcement
 4. Men in the employ of the com pany twenty-five years, who have reached the age of sixty, may be pen stoned.
 5. Men in the employ of the com pany twenty-five years and who have reached the age of sixty-fve shall be pensioned
 6. Women in service twenty-five years, who have reached the age of fifty, may be pensioned.
 7. Women in service twenty-five years who have reached the age of ifty-fve, shalle be pensioned.
 8. Employees i'll service fifteen years and up to twenty-five years, who are permanently incapacitated for work may be pensioned.
 9. Pension of those retired on ac- count of age and length of service, 1r if incapacitated after a service of twenty-five years, but prior to the age of retirement, shall be one-half of the average salary for the five years pre- ceding retirement.
 10. Pension of those retiring on account of incapacity after from f1f- teen to twenty-five years Of service shall be computed on basis Of l 1-2 per cent. of the average salary for the i've year period preceding retirement, for each year of continuous sevice.
 ii. No pension shall be less than S240 per year.
 12. No pension shall be in excess of s5, 900 per year.
 IS. The widow and children of an eligible employe shall receive one-haf of the pension to which an employe shall be entitled at the time of his death.
 Tn their efforts to work out plan which would be fair to all employees, the company have allowed employees, who were working for other concerns a absorbed by Swift & Company in the past. credit for the full length of their with those concerns prior to their absorption.
 Andrews, Swift & Go. of this city has about sixteen employees, all of whom are greatly interested in the plan.