Social Insurance a Program of Social Reform
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There is little evidence that wage earners have thus far made much use of such machinery as is available for procuring old-age annuities. This is partly because of a lack of prudence and fore- thought on their part, but partly, also, because until quite recently the machinery itself has been unsatisfactory. Trade-union and fraternal in- surance have done something to meet this need, but neither is on a very secure basis from the actuarial standpoint, and the number of indi- viduals benefited ha...s been small.
Much more significant in its promise for future is the introduction of old-age pension plans i by some of the railroad and industrial corporations. The pioneer in this field was the Baltimore Ohio Railroad, which inaugurated its pension policy in 1884. Its example has already been followed by twenty-four other railroads, including such important systems as the Chicago and North- western, the Delaware, Lackawanna, and Western, the Illinois Central, the Pennsylvania, the Phila- delphia and Reading, the Southern and Union Pacific, and the New York Central.
What to read after Social Insurance a Program of Social Reform?
You can find similar books in the "Read Also" column, or choose other free books by Henry R Henry Rogers Seager to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
There is little evidence that wage earners have thus far made much use of such machinery as is available for procuring old-age annuities. This is partly because of a lack of prudence and fore- thought on their part, but partly, also, because until quite recently the machinery itself has been unsatisfactory. Trade-union and fraternal in- surance have done something to meet this need, but neither is on a very secure basis from the actuarial standpoint, and the number of indi- viduals benefited ha...s been small.
Much more significant in its promise for future is the introduction of old-age pension plans i by some of the railroad and industrial corporations. The pioneer in this field was the Baltimore Ohio Railroad, which inaugurated its pension policy in 1884. Its example has already been followed by twenty-four other railroads, including such important systems as the Chicago and North- western, the Delaware, Lackawanna, and Western, the Illinois Central, the Pennsylvania, the Phila- delphia and Reading, the Southern and Union Pacific, and the New York Central.
What to read after Social Insurance a Program of Social Reform?
You can find similar books in the "Read Also" column, or choose other free books by Henry R Henry Rogers Seager to read onlineMoreLess
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