Employment of the older worker: An industrial and social problem. - Page 159 |
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su g gested t h a t in d u s t r y m odify i t s p en sio n i
p la n s by which o ld e r w orkers could p a r t i c i - j
p a te in such a way t h a t i t would n o t cause
a d d i t i o n a l burden upon th e company. Such
m o d if ic a tio n would in c lu d e t (a) th e pens
io n would correspond to th e w o rk e r!s
p a i d - i n premium; (b) i f h i s premium i s ]
h ig h e r , which u n d o u b ted ly i t i s , the I
worker should be allow ed t o pay the d i f f e r - !
ence; (c ) i f premiums a re to o h ig h a t the
w o rk e rf s a g e , reduce th e amount of p e n sio n ,
or (d) j u s t p l a i n l y exclude him from the
p en sio n p la n .
I n s h o r t , i f in d u s tr y wants to extend
employment o p p o r tu n itie s f o r th e o ld e r
w orker, i t should modify i t s p en sio n p la n s .
In t h i s r e s p e c t , e . g . , m o d if ic a tio n of p e n e i
s io n p la n s , i n d u s t r y i n c o n ju n c tio n w ith
in su ra n c e companies could develop p la n s on
an i n d u s t r i a l or n a t i o n a l b a s i s , by which
a worker le a v in g h i s job or being f i r e d
could c a r r y h is p en sio n r i g h t s ( h is so -
c a ll e d " v e ste d i n t e r e s t " ) w ith him. These
ty p e s of p la n would c o n t r i b u t e t o th e
g r e a t e r e m p lo y a b ility of o ld e r w orkers and
promote la b o r m o b ility , which i s so
im p o rta n t i n a war or in an expanding
economy.
R etirem en t should be made f l e x i b l e and be
based upon th e o ld e r w o rk e r’s a b i l i t y t o
perform . In t h i s r e s p e c t , i t i s to th e |
advantage of in d u s t r y t o keep a b le w orkers j
as long as p o s s ib le in p ro d u c tiv e employ- I
ment, because a len g th en ed w o r k - lif e |
red u ces p en sio n and s o c i a l s e c u r i t y c o s ts j
and i n d i r e c t l y reduces income ta x e s by i
m inim izing governm ental su p p o rt of th e
needy. An in c re a s e d w o r k - li f e a l s o
expands f u l l employment by in c r e a s in g th e
p u rch asin g power of th e employed o ld e r
w o rk ers. '
i
F i n a l l y , in d u s t r y f o r i t s own sake as w e ll as|
f o r a c h ie v in g optimum u t i l i z a t i o n of our j
human re s o u r c e s could u n d e rta k e—perhaps \
w ith the h e lp of u n i v e r s i t i e s and govern- !
ment— i n t r a - i n d u s t r i a l r e s e a r c h s tu d ie s of !
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| Title | Employment of the older worker: An industrial and social problem. - Page 159 |
| Repository email | cisadmin@lib.usc.edu |
| Full text | su g gested t h a t in d u s t r y m odify i t s p en sio n i p la n s by which o ld e r w orkers could p a r t i c i - j p a te in such a way t h a t i t would n o t cause a d d i t i o n a l burden upon th e company. Such m o d if ic a tio n would in c lu d e t (a) th e pens io n would correspond to th e w o rk e r!s p a i d - i n premium; (b) i f h i s premium i s ] h ig h e r , which u n d o u b ted ly i t i s , the I worker should be allow ed t o pay the d i f f e r - ! ence; (c ) i f premiums a re to o h ig h a t the w o rk e rf s a g e , reduce th e amount of p e n sio n , or (d) j u s t p l a i n l y exclude him from the p en sio n p la n . I n s h o r t , i f in d u s tr y wants to extend employment o p p o r tu n itie s f o r th e o ld e r w orker, i t should modify i t s p en sio n p la n s . In t h i s r e s p e c t , e . g . , m o d if ic a tio n of p e n e i s io n p la n s , i n d u s t r y i n c o n ju n c tio n w ith in su ra n c e companies could develop p la n s on an i n d u s t r i a l or n a t i o n a l b a s i s , by which a worker le a v in g h i s job or being f i r e d could c a r r y h is p en sio n r i g h t s ( h is so - c a ll e d " v e ste d i n t e r e s t " ) w ith him. These ty p e s of p la n would c o n t r i b u t e t o th e g r e a t e r e m p lo y a b ility of o ld e r w orkers and promote la b o r m o b ility , which i s so im p o rta n t i n a war or in an expanding economy. R etirem en t should be made f l e x i b l e and be based upon th e o ld e r w o rk e r’s a b i l i t y t o perform . In t h i s r e s p e c t , i t i s to th e | advantage of in d u s t r y t o keep a b le w orkers j as long as p o s s ib le in p ro d u c tiv e employ- I ment, because a len g th en ed w o r k - lif e | red u ces p en sio n and s o c i a l s e c u r i t y c o s ts j and i n d i r e c t l y reduces income ta x e s by i m inim izing governm ental su p p o rt of th e needy. An in c re a s e d w o r k - li f e a l s o expands f u l l employment by in c r e a s in g th e p u rch asin g power of th e employed o ld e r w o rk ers. ' i F i n a l l y , in d u s t r y f o r i t s own sake as w e ll as| f o r a c h ie v in g optimum u t i l i z a t i o n of our j human re s o u r c e s could u n d e rta k e—perhaps \ w ith the h e lp of u n i v e r s i t i e s and govern- ! ment— i n t r a - i n d u s t r i a l r e s e a r c h s tu d ie s of ! |
