Evening star., 1924-01-20
ACTUAR|ES FAVOR
RETIREMENT AT 60;
COMPULSORY At 70
Boards Annual Report Goes
to Congress-Hearings
Resume Tomorrow.

Need for new retirement lagisla-
tion is stressed in the third annual
report of the board of actuaries, pro-
vided for in the civil service retire
ment act, which was presented to
Congress yesterday accompanied by
the draft of bill which carries the
proposed changes.
Coming at time when hearings are
in progress before the joint session
of the civil service committees of
the House and Senate and since the
report discusses the plan of the
board of actuaries as compared with
the plan fathered by Chairman Lehl-
bach of the House committee on re-
forming the civil service, the actu-
aries report is considered highly i'm
portant. George 3. Buck, chairman
| OF the board of actuaries, has already
appeared at these hearings.
Resume Hearings Tomorrow.
The hearings will be continued be-
fore the joint committee tomorrow
morning, at 10 o'clock, in the caucus
room On the third floor of the Senate
office building. A number of Wit
nesses> has been asked to appear. The
hearings, it is expected. will be con-
cluded this week, and the committee
Will then get down to work on q
proposed amendment to the existing
law, providing more adequate annui-
ties than are now given to retired en-
pioyes' and changing the age of retire.
ment.
The actuaries' bill contemplates
changes in the retirement law TO
provide:
l. That the government keep an ac-
count of the aggregate amount de-
quoted from the salaries of employes
ana held In trust on their account.
z. That the government keen an
account of the annual cost of the re-
tirement fund, not covered by the
contributions of employees, for the
protection of the taxpayers.
Want Central Record.
3. That the government keep a
central record of all members ac-
counts in the fund.
4. That any employe, who re-
tires receive an annuity or its
equivalent at least equal to the value
of his own contributions.
5. That employees sixty years old
or over may retire after thirty
years of service. This provision
seems desirable to eliminate super
annuation and is believed to be rea-
sonable where employees pay approx
imately half of the cost.
6. That retirement be compulsory
at age of seventy, but that each en-
proye so retired be entitled to a ben
eft based on his years of service
This eliminates the present difficulty
of discretionary action.
All On Same Basis.
Z. That all classes of employees be
placed on the same basis as to condi-
tions of retirement. The establish
ment of a uniform basis is believed
to be better both for the government
| and for the employees than the exist
ing arbitrary distinction.
8. That the service allowance be
changed from approximately 2 per
| cent of the average annual salary of
y
year of service not exceeding thirty.
with a maximum of s720, to a benefit
amounting annually to l per cent Of
! the actual annual salary of the last
ten years Of service for each year of
service, plus $12 for each year of
service. No benefit in excess of IS
per cent Of salary Is permitted in the
NJ
| creases the allowances of employees
whose salaries are less than $1,000
! Continued on Page 9. Column 2.)