The Pension Plan.

The Pension Plan.
The Pensions Plans grew to become an outstanding matter of interest to insurance companies, industry, and the working population following the agreement on this subject between the C. I. O. union and United States Steel, Bethlehem Steel, Ford Motor Car Company, and a growing number of industries. The United States Steel agreement with the union was to pay to employees with 25 years or more service a minimum of $100 a month less the primary benefit under the Social Security Act. As the campaign for pensions increased in insistence, government social security benefits came under wide discussion. New ways of integrating the private programs into the basic federal old-age insurance system were under consideration. It was believed that 7,000,000 persons were now covered by all types of private pension plans, both union- and company-sponsored. The Federal Security Agency paid out $220,000,000 in benefits in 1949 to about 300,000 persons past the age of 65. How far the government could expand its spending program has become a political issue.