Evening star., 1952-12-26
|90q6 Of u. ). Workers
Covered by Pensions;
Benefits Called Low
By J. A. O'Leory

Dy ). ~. ~ 6GOIy
Ninety per cent of the labor
force in this country is now COW
cred by some form of old-age
pension, according to a survey
made public today by the Joint
Congressional Economic Commit
tee.
The experts who made the
study for the committee found,
however, that much remains to
be done to create satisfactory
conditions for the present aged.
Eight out of 10 of the covered
workers are under the Federal
old-age retirement system. and
l out of of those also has
protection from a private pension
plan. The report concludes that:
Benefits are low. on the aver
age considerably below subsist-
ence except for those few, some
$50 900, who are drawing pensions
under both old-age and survivors
insurance and private plans. The
situation of aged widows is par
ticularly unsatisfactory"
15-Year Gain Cited.
To show the progress made. the
report recalls that Is years ago
only IS per cent of the labor force
was under retirement systems.
The survey was made for the
congressional committee by the
National Planning Association,
and was under the direction of
Robert M. Ball, assistant director
of the Federal Bureau of Old Age
and Survivors Insurance.
It Is important, the report says,
to continue to employ as large a
proportion as possible of the aged
who are able and want to work,
This is desirable, the report sug-
gests, both to reduce pension costs
and to increase the total volume
of goods and services available to
CONSUMERS.
One group for whom present
arrangements are inadequate is
made up of those who retire pre-
maturely because of disability. the
report states.
The report predicts that the
Federal old-age insurance system
will continue to be the only kind
Iof organized retirement for most
people, despite the fact that pri-
vate plans have increased from
about 750 in 1880, to $4,000 in
1851.
mot more than 10 or IS per
cent Of the retired aged will be
getting private pensions even 10
years from now" the report says,
land it will take at least a gen.
Grafton before private plans are
paying even 20 to 25 per cent of
those aged who are not depend
ent on earnings"
The report suggests that a mat
ter for debate during the next
few years will be whether it is
desirable, while retaining the
present wage-related contributory
approach, in the public program,
to blanket-in the present aged and
adopt a universal pay-as-you-go
method of financing.
Such an approach has certain
obvious advantages" the report
adds, "but it also might result in
a weakening of public support
for, and understanding of, a con-
Itributory wage-related program"
Three Recommendations.
The report makes three rec
concentrations for further study:
l. The establishment of a pro-
feSsional committee on research,
representative of the organiza-
tionS interested in the subject and
which would function on a con-
tinuing basis.
| 2. The establishment of an ad-
viSory commission to make policy
recommendations. 1t would be
representative of management
labor. agriculture, veterans and
other groups involved in the prob
lem, as distinguished from the re-
SearcherS.
3. Provision should be made for
the collection of more complete
data on private pensions.
In making public the report
Senator O'Mahoney, Democrat OF
Wyoming. chairman of the Joint
Economic Committee, predicted ii
will be come "best seller" on the
shelves of the Superintendent OF
Documents of the Government
Printing Office. Senator O'Ma-
honey said it will be available al
| 80 cents a CODY.