Show NEW 11 ra ACT final passage of the railway retirement act spells finla to another chapter in the outstanding record of organized labor in the railroad industry the new retirement act Is an effective compromise between differences of opinion among various groups on the whole it seems to have the approval of every level of the railroad industry and appears to be a fair reward all around for I 1 intelligent igent and tolerant dealings between all concerned the act constitutes the most comprehensive plan in ex in any industry for the retirement of employees because of age or disability it affects about a million and a half workers and was evolved by joint negotiations between representatives of railway managements and twenty one railroad unions under the terms of the act any employee of a railroad ie Is eligible to retire at the age of 65 or at 60 if he has completed 80 30 years of service the act is financed by taxes on both employees and empol amount of the retirement pay Is dependent upon years of service and compensation received ben fits are extremely liberal 4 the act is important in that it marks a milestone in as euring future security to the workers of our largest single industry it is equally important in that it represents an amica blei and fair settlement of differences between social minded management and reputable long established unions these unions did not resort to violence and disorder toi attain their ends they sat down with employers and discussed and solved their problems with the result that railroad labor always highly paid can look forward with equanimity to the future the act is a towering monument to wise industrial relations and sincere dealings on the part of all concerned the progressive farmer has long since learned that dependence on agencies of government to solve his problems and increase his income is futile the most successful farmer today la Is that one who does his own work his own thinking and does depend upon a vote getting public policy to steer him into suc besa bess that man will win the other must always have that crutch to help him walk along |