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Show New Pension Systems Telephone and Telegraph Companies Set Aside Big Sum for Employees. Ten million dollars it was announced an-nounced Sunday, would be appropriated appropri-ated January 1, 1913, by the associated asso-ciated interests controlling the Bell Telephone system, the Western Union Telegraph company and the. Western Electric company as a pension pen-sion fund for their 175,000 employees. em-ployees. This number 130,000 are employees employ-ees of The Bell Telephone System. The total yearly pay for the whole group is about $115,000,000 something- over $80,000,000 being paid in wages by the Bell Telephone System alone. " Sick benefits and and life insurance will be a feature of the pension system. Annual appropriations from the treasuries of the allied companies compan-ies will keep the fund up to $10,000, 000. Details of the plan were made public pub-lic Sunday by President Vail of the Western Union company. All employees who have reached the sgo of 60 t.nd have been 20 or more years in the service of the company will be permitted to retire re-tire on pensions. They may be retired re-tired at tne option of the companies at 55 years old after 25 years services. ser-vices. The pension age for women employees is in each case five years younger than maie employees. The amount of pensions is automatically-based on the years of service and the amount of pay and will be 1 per cent of the annual pay for ten years, multiplied by the number of years of service. |
