Word: pensionable
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Dates: during 1950-1959
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Next year Radcliffe will retire on pension all maids over 65 years of age, leaving approximately two full-time maids in each dormitory. The union contract would reduce their working week from 48 to 42 hours. Part time workers totalling over 20 hours per week would be allowed 30 days to come into the union shop...
...strike stretched out. In March, while workers walked the streets, Chrysler offered to deposit $30 million against payment of pensions as they came due. Reuther turned the offer down, arguing with some point that the proposition was not on a sound actuarial basis, and furthermore was not a 10? package. Then early this month he abruptly dropped his 10?-an-hour demand, offered to settle if Chrysler would establish a pension trust fund that was actuarially sound. After thinking it over, Chrysler agreed to the new terms. Everyone expected peace...
...peace was a pea under Reuther's walnut shells. Quicker than the eye, Reuther switched the pea. He announced that though Chrysler's new pension offer was good (he actually had won what he asked for), other benefits were inadequate. What Reuther's statisticians had discovered was that the cost to Chrysler for such pensions would be less per man per hour than the cost to Ford, because Ford workers are generally older and have had more years of service. Even though he had got his trust fund, Reuther was determined to make Chrysler cough...
Harvard has had a pension plan since 1936. Employees have contributed four percent of their wages, with the University paying the balance of the amount necessary to finance the plan...
...proposed plan would provide a minimum pension of $50 a month to all employees with 10 years' service, and $100 for those with 20 years' service...