Word: pension
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...racketeering mess exposed by the Senate's McClellan committee hearings, Labor Secretary James P. Mitchell got red-carpet treatment. With Ike's approval Mitchell will throw the Administration's weight behind: 1) passage of legislation (which Ike has already requested three times) that would require union pension- and welfare-fund statements to be filed with the Justice Department and made public; 2) a move to seek congressional authorization for the Labor Department to make public the 38,000 union financial statements filed each year under a Taft-Hartley provision. Predicted Mitchell: "The labor movement will emerge from...
...Fall of this academic year, all members of the Arts and Sciences Faculty received an indirect increase of five percent; the increase was non-taxable because the University merely assumed the full cost of the pension fund payments...
...some "special help" in connection with the McClellan committee's investigation. Hoffa, said Fischbach, wanted to plant an agent on the McClellan committee staff and Jack Cheasty, a former Secret Service agent, Internal Revenue agent, and naval intelligence commander (he retired in 1952 with a $5,500 disability pension after a heart attack), seemed to have the investigating credentials for landing the committee job. Said Cheasty tersely: "I'd rather hear this from the man himself." Almost before he knew it, Cheasty was on a plane, bound for Detroit and an appointment with Jimmy Hoffa...
...soft sell in the Pru's old-fashioned salesmanship. Like Fuller Brushmen, each agent has 300 to 400 families to cover. The Pru man gently but bluntly reminds his customer of the need for a "cleanup" fund to handle funeral expenses, explains what social security and company pension plans will provide. He asks his prospect if he wants to leave his family a home or just a mortgage; He talks about education for the children. "Invariably," says one Pru executive, "the worried prospect lays down a program he can't possibly afford." Then, the Pru agent...
...denying this conclusion in the face of increasing monetary outlays and a virtually dry tax base. Added revenue, the Governor maintains, must be found to counter anticipated inflation and to pay for planned and promised expansions in state social services, raises in the pay of government employees, spiraling pension costs, and the liquidation of state bonds with delayed maturation dates. Meanwhile, expanded state aid to cities and towns is urgently needed, he insists, to counter seriously inadequate municipal services and to reduce the tax on real property--currently standing at a per capita level higher than any other state...