Principles Governing the Retirement of Public Employees, Issue 1 |
Contents
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Common terms and phrases
61st Congress accident or disease accumulation active service actual performance actuarial reserve basis administrative age at entrance amount of benefit annual annuity argument average benefit in event British Parliamentary Papers Carnegie Foundation cial Civil Service Committee compensation compound interest compulsory age considered contributions cost dependent on salary device disability benefit discretionary dismissal earned economic employee's eral established event of death future entrants granted I. M. Rubinow increase independent of salary Institute of Actuaries legislation length of service London County Council maximum merits minimum of subsistence moral nomic non-contributory system objection old age operation paid past services payments pension system performance of duty ployees premium present employees probably protection public service question regarding Report resignation retirement age retirement allowance retirement benefits retirement system salary scale scheme spoils system superannuation benefit superannuation retirement teachers tion tirement wages wholly contributory
Popular passages
Page xii - a hateful tax levied upon commodities, and adjudged, not by the common judges of property, but wretches hired by those to whom excise is paid :" and Pension, to be "an allowance made to any one without an equivalent. In England it is generally understood to mean pay given to a statehireling for treason to his country...
Page v - ... particularly those of the national government, in their efforts to put the public administration upon a more efficient basis. To this end, it seeks by the thoroughgoing study and examination of the best administrative practice, public and private, American and foreign, to formulate those principles which lie at the basis of all sound administration, and to determine their proper adaptation to the specific needs of our public administration. The accomplishment of specific reforms the Institute...
Page 151 - Parliament, shall be as follows (that is to say) :— To any person who shall have served ten years and upwards, and under eleven years, an annual allowance of ten.sixtieths of the annual salary and emoluments of his office: For eleven years, and under twelve years, an annual allowance of eleven.
Page ii - THE INSTITUTE FOR GOVERNMENT RESEARCH '• STUDIES IN ADMINISTRATION. The System of Financial Administration of Great Britain. By WF Willoughby, WW Willoughby, and SM Lindsay. 378 pp. $3. The Budget: A Translation. By Rene Stourm.
Page 151 - Sixtieth in respect of each additional Year of such Service, until the Completion of a Period of Service of Forty Years, when the annual Allowance of Forty Sixtieths may be granted ; and no Addition shall be made in respect of any Service beyond Forty Years...
Page 3 - Merriam states that the advantages are: " (1) the elimination from its active force of those who have lost their efficiency because of advancing age or long service; (2) the elimination of those who have lost their efficiency in earlier life because of accident or disease; (3) the improvement of the morale of the remainder; (4) the retention in...
Page 136 - ... introduction of as few assumptions as possible, they are made to involve not only assumptions as to the rates, of mortality to be experienced among the members and as to the rate of interest to be earned by the accumulated funds- -these may be fairly said to be indispensable^— but they are also made to depend upon such capricious elements as the rates of secession of members (that is, of members leaving active service otherwise than by death or retirement) and the rates of salary the members...
Page 25 - The employee needs the pension because he cannot — or at least does not — provide adequately from his wages for the period of superannuation. The employers need a comprehensive pension system because, while the presence of the superannuated employees in a business seriously impairs its efficiency, the dictates both of humanity and of policy prevent discharge unless their financial necessities are provided for. The demand for a pension system grows more pressing as businesses grow more stable;...
Page 76 - In order to get a full understanding of old-age and service pensions, they should be considered as a part of the real wages of a workman. There is a tendency to speak of these pensions as being paid by the company, or, in cases where the employee contributes a portion, as being paid partly by the employer and partly by the employee. In a certain sense, of course, this may be correct, but it leads to confusion. A pension system considered as part of the real wages of an employee is really paid by...
Page 25 - Given the status of employee for life, and the need of an old age pension l is obvious. The employee needs the pension because he cannot — or at least does not — provide adequately from his wages for the period of superannuation. The employers need a comprehensive pension system because, while the presence of the superannuated employees in a business seriously impairs its efficiency, the dictates both of humanity and of policy prevent discharge unless their financial necessities are provided...