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Story
August 2, 1954
Trainman News
Indianapolis, Marion County, Indiana
What is this article about?
Baxter Laboratories in suburban Morton Grove, Chicago, implements a novel pension plan ensuring aged employees $177.50 monthly income and a five-year transition to retirement with adjusted job assignments. Developed with AFL Chemical Workers' Union leaders.
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OCR Quality
98%
Excellent
Full Text
Novel Pension Plan Being Tried Out
CHICAGO - Baxter Laboratories of suburban Morton Grove here has put a novel pension plan into effect under which aged employees will be assured $177.50 a month income, and will be eased into retirement.
Workers who reach retirement age will be kept at job assignments best suited to their abilities and physical conditions, putting in sufficient time to earn $75 a month over a five-year transitional period.
The plan was worked out by the company, Sidney Garfield, vice-president of the AFL Chemical Workers' Union, and local union leaders.
This advanced retirement plan was called to the attention of TRAINMAN NEWS by Martin H. Miller, delegate from Lodge 146.
CHICAGO - Baxter Laboratories of suburban Morton Grove here has put a novel pension plan into effect under which aged employees will be assured $177.50 a month income, and will be eased into retirement.
Workers who reach retirement age will be kept at job assignments best suited to their abilities and physical conditions, putting in sufficient time to earn $75 a month over a five-year transitional period.
The plan was worked out by the company, Sidney Garfield, vice-president of the AFL Chemical Workers' Union, and local union leaders.
This advanced retirement plan was called to the attention of TRAINMAN NEWS by Martin H. Miller, delegate from Lodge 146.
What sub-type of article is it?
Historical Event
What themes does it cover?
Justice
Moral Virtue
What keywords are associated?
Pension Plan
Retirement Transition
Baxter Laboratories
Afl Union
Employee Benefits
What entities or persons were involved?
Sidney Garfield
Martin H. Miller
Baxter Laboratories
Where did it happen?
Chicago, Suburban Morton Grove
Story Details
Key Persons
Sidney Garfield
Martin H. Miller
Baxter Laboratories
Location
Chicago, Suburban Morton Grove
Story Details
Baxter Laboratories introduces a pension plan providing $177.50 monthly to retirees, with a five-year transition earning $75 monthly on suited jobs, developed with AFL union leaders.