The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1916-07-22
Provisions Of New Pension Plan Of
Express Company Arc Generous
ones-Worksrs Are
Benefited.
TOOK EFFEor IN JUNE
Calls for Sickness and Accident
Benefits and Pension Allow
anee-some o.. the Pro
Visions.

p1oyoS OF new DenonC ana pension
plan, which ranks in the generosity
OF Its provisions with the best OF the
other pension plans Of the other great
corporations across the land.
Tho new system which went into
effect on June l, is not the first PEN
sion provision established by Wells
Fargo. The company has been re-
firing its older men on pensions for
more than a quarter of a century
for the past twelve or fourteen years
its pension board has been a distinct
feature OF its general organization.
But the new plan. as its name indi-
Gates, contemplates much more than
pension relief. One OF its most sal
lent features Is disability clause,
which applies to any established
worker In the company's ranks who
may be stricken by illness or by &C
cident. This, Of itself is a tremen-
ious advanced step among the pen
sion plans of the great corporate In
terests Of Americas.
New Pension Program.
To make this clause clearly under
stood, It Is only necessary to read the
program Of the new pension system.
It specifically states that any Wells
Fargo sa1aried employee, who has
been, six months or more in the SER
vice, when incapaciated for work by
accident or sickness while not on dl-
ty, may be allowed pay for the period
|'of the enforced absence, in accord
ance with very generous table of
time allowances. II the accident
should occur while he Is on duty the
compensation granted, is, Of course,
much greater. For instance, even in
the case Of an injury temporarily dis
abling him, he may, to the extent re-
|quired, be granted full pay for SIX
months and half pay for a year fol-
lowing the time Of his injury. II, at
ter this year, he still IL disabled, tho
pay Is continued for two additional
years. Then. IL he shall have been
fifteen years with the company at the
time Of his accident, he may 60 upon
ia pension until the end Of his days.
an arrangement which greatly In
creases IN its monetary value, II his
services with Wells Fargo IL as long
as twenty-five years.
Another feature OF the new PEN
sion plan, and not less interesting, is
the one which provides for the con-
tinuance Of . mans salary to his ben.
10
It is a principle that is being written
into many of tho new policies OF the
life insurance companies. Here IL q
principle that is bound to be of great
benefit to the widows and children
who find themselves dazed and stag
gered by the loss Of their bread-earn-
ers. Full pay for month after his
death and half pay for an additional
number of Notwithstanding upon
the length OF his services with Wells
Fargo-means that they will have
time to collect their senses and plan
for the future before the bread-earn-
ers wages cease to come to them. No
one who has not known how close
some families live to the narrow mar
gin can appreciate what this provis-
ion alone OF the new plan means.
Tho new plan recognizes of course,
all the sturdy principles to which
Wells Fargo has long stood commit
ed. In fact It's careful perusal will
show that many Of the provisions of
the old have been amplified. To
make single instance, the minimum
pension allowance for superanuated
employees is now fixed at $4,000 q
month Under the old plan there
was no minimum allowance.
Keynote Of the System.
The keynote Of the entire system IS
sounded in foreword to the printed
plan. It reads as follows:
The executive officials Of the COM
pany have great pleasure and salts
faction in announcing the adoption
by the board Of directors OF a revised
benefit and pension system, to take
effect June 1, 1916. This enlarges
the age-pension allowance and pro.
vides substantial additional allow
ances aginst the fear of loss Of in
come through sickness or accident
and a. means of support should such
misfortune occur.
The new system is not only rec.
ognition of loyalty and devotion to
the company. but is intended as an
encourag ement to continued employ
ment with the company and increased
experiences in the exacting work re-
ouired tn an efficient express service.
Public favor and patronage are essen
tial to the company's success and up
on the company's prosperity depends
its ability to continue benefit provis.
ions for employees.