Items of Interest March 13, 1902 Issue

Items of Interest

The Metropolitan Street Railway of New York City has established a pension system for its superannuated employes. It is said that this is the first pension system ever established for street railway employes in this country. The system is for the relief of those superannuated employes whose annual maximum wages have not exceeded $1,200.

Employes benefited by the system will be of two classes. First—All who have attained the age of seventy and have been in the service of the company twenty-five years will be retired by age limit. Second-All employes between sixty-five and seventy years of age, who have served the company twenty-five years, will be retired if in the opinion of the trustees they are physically disqualified for service.

The pension allowance to the retired employes will be upon the following basis. Those who have been continuously in the service of the company for thirty-five years or more will receive forty per cent of the average annual wages for the ten previous years. Those who have been employed thirty years will receive thirty per cent, and those who have been employed twenty-five years will receive twenty-five per cent of the average annual wages for the ten previous years.

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