Word: countract
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...pension piss, like the old, Proposes pension benefits, on a non-contributory basis, for all regular emphases with at least three vearn of service, However, the new pension plan is funded with a group annuity countract and the level of pension benefits has been improved for all participating employees, regardless of age. (The lowest paid employees received the highest percentage of increase in pension benefits). The new vesting provision compare favorably with those in the retirement plans of other major department stores in the Boston area. The pension plan also makes provision for employees who are disabled and provides dependent...
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