Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-14

These percentages of deductions may
vary slightly. depending upon the NOR
secretary of the Treasury for his guild
ance in administering this law.
The Limitation of s per cent upon as
sessments applies to those now in the
hereafter. These deductions will be
sufficient to pay an annuity to each
otficer or employee equal. to one-half OF
ms salary, with a maximum of $6oo.
who is under forty years of age, but
those who enter the service hereafter
and are forty years of age or older
viii be entitled only to such annuitfes
as these deductions. together with &C
cumulated interest thereon. will buy.
Must Retire at Seventy Years.
"All officers or employees ere to be
retired at seventy years of age unless
within thirty days before reaching the
retirement age the head of the depart
ment or independent Office shall certify
to the Secretary of the Treasury that.
because of efficiency and willingness to
remain in the service, further con-
tfnuance of such officer or employe
would be advantageous to the govern
ment. he may be retained for further
period not exceeding two years. and
for a second period of two years. After
this time his employment ceases en-
tirely. -H- -.
SHOULD the officer or employe desire
to leave the service at any time prior
to the age of sixty years he is permit
ted to withdraw his savings in one sum,
with accumulated interest thereon. AT
any time between sixty and seventy
years of age he can retire upon such
annuity as his assessments and accu-
mulated interest thereon may purchase.
IF the officer or employe should die
% 1nf0
nuities a sum equal to his accumulated
savings and interest thereon the bal
ance remaining to his credit will be
paid to his legal representatives.
IF he leaves the service and again
re-enters the monthly deductions shall
be computed from his age at the date
of reinstatement, unless within ninety
days thereafter he pays to the treasurer
of the United States the amount re-
funded to him, which shall apply
toward the purchase of his annuity,
and the deductions from his salary
thereafter will be only for such sums
as may be necessary to pay for the
balance of said annuity.
annuities he must have been twenty
years or longer in the service. Those
who reach the retirement age and have
not been in the service for twenty
years shall be entitled to one-twentieth
of the annuity for each year of service
rendered by him.
1T will be noted that under the pro-
posed plan the young are not insurers
for the old, nor the strong for the weak.
A separate account is kept with each
individual for the benefit of himself
and his family. 1t combines both
compulsory savings and a pension plan.
1t encourages thrift and provides for
old age. And we believe it will i'm
prove the morale Of the service.
Cost to Government.
'The total cost to the government for
the first year will amount to approx
imately S2.150,000. if all seventy years
of age and over retire at once. This
annual cost to the government will in
crease steadily for about twenty-five
years, when it will reach a maximum
of between $4,000, 900 and $1,000. 900 1t
will thereafter decrease gradually, I'M
til at the end of about fifty years it will
cease entirely and the system will be