| Show THE NEW RAILWAY J ACT final passage of the railway retirement act writes tints to an other chapter in III the outstanding I 1 record 0 of organized labor in the 4 nie merican rican railway industry says the salisbury north carolina post the new retirement act is an aan effective compromise bet between we 1 differences if feren ces of opinion among various groups gi loups on the whole it seems to have hava tho the approval ot of every level ot of tho the railroad industry it appears to 10 be a fairer word wold RIP all around tortin toll tell igent and tolerant iii dealings be tween all concerned tile the act constitutes the most comprehensive plan in existence in any industry tor for the retirement ofell aloyes because ot of age or disability it effects about workers and was evolved by joint negotiations between representatives ot of railway managements and the 21 stan standard darf railroad unions under the te terms ot of the act any employed loye 0 of a railroad Is eligible to retire nt at the aye are ot of 65 or at 60 it if he has completed 30 years of service employed Emp loyes may retire at any age after 30 years of service because of 0 mental or physical disability the act is financed by taxes on both employed emp loyes and employers amount ot of retirement pay Is dependent upon years ot of service and compensation pensa tion received benefits are extremely liberal the act is important in that it t marks a milestone in assuring future security to the workers of our largest single industry it is equally I 1 important in that it represents an amicable and fair settlement ut of differences between social minded management and reputable long 4 established unions these these unions resort to violence and disorder to attain their ends they sat down with the employers and discussed slid and solved their problems the result is that railroad labor always highly paid can look forward with equanimity to the future tile the act is a towering monument tu to wise industrial relations slid and sincere honest dealings on the part of all concerned |
