Word: pensionable
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Dates: during 1940-1949
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...increases had boosted the cost of steel's raw materials; another boost in coal prices was in prospect. But scrap, which is a major cost in making steel, was selling at an average of only $27.25 a ton, compared with $43 a year ago. As for the new pension program-U.S. Steel officials could not, or would not, say what it would cost the company in the first year (guesses by outsiders ran as high as $80 million a year...
...Pensions: To pay $100 a month to everybody over 65 would cost $12 billion a year, and raise the question "whether our economy can stand that tremendous burden without deterring industry as well as the worker." He wanted a basic Government study of pension plans...
...Philharmonic-Symphony Society of New York discovered that there's nothing like an oldtimey masked ball to attract partygoers. Staging a masquerade in the Waldorf-Astoria grand ballroom for its Pension Fund, the Philharmonic lured in 1,200 masked dancers, twice the number that attended two previous open-faced fund-raising parties. Among the celebrities and socialites who showed up (at $25 a ticket): the white-tied Marquess of Milford Haven and his American fiancee, Mrs. Romaine Simpson; black-tied ex-King Peter of Yugoslavia and Queen Alexandra; Warren Austin, permanent U.S. delegate to the U.N., and Mrs. Austin...
Wise Founder Higginson had taken other steps to insure stability. In 1903, he set up a musicians' pension plan, the first in any U.S. orchestra. That is one reason why Boston Symphony musicians stay around and learn how to play together. Eleven men have been in the orchestra 30 years or more, another 40 men more .than 20 years...
Another whose profit-sharing plan increased workers' efficiency was Jewel Tea Co. Started 25 years ago by Jewel's Board Chairman John M. Hancock, onetime adviser to Elder Statesman Bernard Baruch, the Jewel plan provides for joint pension contributions plus profit-shares from management amounting to 15% of net earnings after dividends. To some employees it has paid off an average return of 55% on their original contributions...