Montana labor news., 1938-07-14
THREE TYPES OF
PENSIONS

different kinds of pensions: First:
Higher government officials and
soldiers pensions; second: all gov
eminent employees and workers of
all kinds coming under the Social
Security Act" and third, the "old
age pensions of the different states.
Ranking first and in a class by
itself, both on account of its liberal
allowance and the absence of any
qualifying restrictions, are the pen
sions given past presidents, their
wives or widows, Justices of the SUI
preme Court, soldiers and sailors of
the U. S. Army and Navy; sometimes
amounting to the extent of their
former salaries as in the case of "Su-
preme Court Justices" requiring no
"Pauper's Oath" and given regard
less Of recipients needs.
The second is a graduated pension,
the amount received depending on
the wages received while working
and the total amount each has
turned in to the Social Security
Fund while working under its pro-
visions. It's pretty much like taking
out a policy with any standard in
surance company and will only re-
turn a portion of wages received
while working.
Third, and the most conspicuous
class of pensions, are the "Old Age
Pensions of the different states.
While they differ somewhat in the
various states, both as to the amounts
given and conditions insisted on,
they have many features similar,
the main one being the applicants
actual need; in many cases requiring
a "Pauper's Oath" or what amounts
to the same, as a preliminary to be-
ing eligible to a pension. This pen
sion is generally quite small, its pro-
visions are very flexible, much dis
erection is left to the pension
Boards of the different states as to
the amounts given and the appli-
cant's needs and fitness.
Montana Pension Act
The Montana Pension Law of 1885
creates pension boards in each coun-
ty to serve under a State Pension
Board and given unlimited power
both as to the amount and the appli-
cant's need for pension. The act re-
quires the board to give qualified
applicants sufficient means for a
decent subsistence" comfort or lux
uries not being mentioned.
Applicants having any means or
a home to the value of a hundred
dollars or more, are expected to list
same with the County Board, which
is held by it as security for pensions
issued; which, after applicants
death, is returned to the legal heirs
with the total amount of pensions
paid deducted therefrom.
To transfer ones property with in
tent to nullify the provisions of this
act is made a misdemeanor and
punishable by law.
The Townsend Annuity
All pensions so far, barring the
first class, are mainly for the sole
purpose of keeping the recipient on
a decent subsistence" basis, with
no other object in view. The "Town-
send Plan," which is more of a re-
covery plan than a pension plan, is
separate and distinct from all other
pension plans in that it calls for all
the annuities paid out must be put
into the channels of trade each
calendar month in which it is re-
ceived and those who avail them
selves Of this opportunity quit all
gainful labor, making room for
others more able to work. The plan,
while it offers no specific sum, only
a pro-rata of what the 2 per cent
transaction tax will bring, this has
a top limit of 5000 per month and
is estimated to be sufficient to keep
industry going at full capacity, MAX
ing work for ALL the younger peo-
pie while those over so years of age
will act in the capacity of bankers
or filters of pay envelopes. This
might seem like a fourth pension
plan; but, according to DR.. Town
send, is more than that and should
be given a fair trial.
He says: ut is not intended as a
pump printing experiment, but is
meant for a continuous recovery
Contributed.