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The following table shows the accumulations which will accrue to a married male member 30 years of age at the time of the organization of the fund and receiving an annual salary of $500:

VALUE OF ACCUMULATIONS AND AMOUNT OF PENSION OF A MARRIED MAN 30 YEARS OF AGE AT TIME OF ORGANIZATION OF FUND, RECEIVING AN ANNUAL SALARY OF $500.

[Source: Otchiot pensionnoi Kassy vol'nonaiomnykh sluzhashchikh za 1901 god., Vol. II, p. 39.]

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It may be said, therefore, that a man of 30 would have to remain in employment over 38 years to receive a pension equal to his salary and 30 years for a pension of about one-half his salary; that after 15 years his accumulations would somewhat exceed two years' pay and his pension be equal to about one-eighth of his salary.

This salary of $500 is higher than that received by the average workman in the liquor-monopoly service. The average salary of an employee, though varying slightly from year to year and showing a tendency to rise, is equal to about $200. For an employee with this salary, but otherwise as described above, the value of accumulations after 20 years would be about $600 and his pension a little over $40 per annum; after 25 years the accumulations would be about $875 and the pension $64; after 30 years, $1,200 and about $100; and after 35 years, $1,656 and $154, respectively.

PENSION FUND OF THE GOVERNMENT PRINTING AND ENGRAVING OFFICE.

This fund was organized in accordance with the law of May 3 (15), 1899-i. e., about one year before the establishment of the Liquor Monopoly Pension Fund and was a successor to a relief fund existing since 1865. Having a smaller membership than either the railroad or the liquor monopoly fund and being similar to them in its organization, only a brief description will be given, as the original reports of this fund can not be secured. The main sources of revenue, such as the contributions of the employees and of the employer (the treasury in this case) are exactly the same as in the Liquor Monopoly Pension Fund, except that the income from penalties is also added; and the system of individual accounts as a basis for the computation

of pensions is identical with that of the other funds. The ordinary pension, thus computed, is granted only after 15 years of membership in the fund. In case of invalidity, however, so-called extraordinary pensions are granted, and these are based upon an entirely different principle, being arbitrary proportions of the earnings, as follows: After 10 and up to 15 years of service, 15 per cent of the earnings; after 15 and up to 20 years of service, 20 per cent; after 20 and up to 25 years, 30 per cent; after 25 and up to 30 years, 40 per cent; and after 30 and up to 35 years, 50 per cent of the earnings. As these proportions do not depend upon the accumulations, they may become an excessive charge upon the fund to be met by additional subsidies from the treasury. The conditions of return of the accumulations before the right for an ordinary or so-called extraordinary pension is acquired are the same as in the other pension funds described—namely, in case of separation from the service within two years no returns are made; in case of separation after 2 and before 10 years of service, his payments without interest; after 10 years, his payments and 25 per cent of all the other additions to his account; after 11 years, 40 per cent; after 12 years, 55 per cent; after 13 years, 70 per cent; and after 14 years, 75 per cent of these accumulations. These rates apply only to married men with families; single men or widowers without children receive only 75 per cent of the amount, but in no case less than his actual contributions.

The fund combines occasional financial assistance to its members and also a loan business with that of granting pensions. The administration of the fund is intrusted to elected members under the chairmanship of the director of the printing office. This fund is one of the few pension funds which were organized for the benefit of industrial wage-workers of a manufacturing plant.

OLD-AGE FUNDS OF THE FACTORIES AND HARBOR WORKS OF THE MINISTRY OF THE MARINE.

By the laws of January 27 (Feb. 9), 1903, and April 18 (May 1), 1903, old-age funds were established for the wage-workers employed in the factories and harbor works of the Ministry of the Marine. These funds are practically based upon a system of enforced saving with certain benefit features attached. Two separate funds are established-the saving fund and the benefit fund. The employee contributes to the saving fund 6 per cent of his earnings and the management of the establishment contributes half of that amount to the benefit fund. In each of the funds each employee has a personal account, which grows by contributions as well as by accruing interest. In case of death both accounts are paid to his heirs in the following order: His widow and children; and when no widow or children survive, to his mother; in her absence, to the dependent father or to the unmarried.

sisters. If the employee is forced to leave the service because of an accident, disease, or old age, he receives both of his accounts in full. He is entitled to his account in the savings fund at the time of separation from service, no matter for what reason. But with the exception of death or separation because of disability, the payment of the individual account in the benefit fund is made the subject of rather complicated regulations. All occupations are divided into four classes, according to the danger element and severity of labor. In the first group, the most dangerous and difficult, the employee acquires the right to receive his entire benefit account after 15 years, in the second. after 20 years, in the third after 25 years, and in the fourth group after 30 years. Before the expiration of these maximum limits only partial payments may be made from the benefit fund, as follows: 33 per cent after a specified number of years and an additional percentage for each additional year until the full amount is reached. In the first group, after 5 years; and for each additional year 7 per cent and 6 per cent alternately each year. In the second group, after 7 years; and for each additional year 5 per cent. In the third group, after 8 years; 36 per cent after 9 years; and 4 per cent additional for each year. In the fourth group, after 10 years; and 3.35 per cent additional for each year.

OLD-AGE FUND OF THE VOLUNTEER FLEET.

The above-described system of old-age provisions in the Ministry of the Marine has followed very closely after the system introduced by the law of July 27, 1896, for the employees of the so-called volunteer fleet (a private navigation company subsidized by the Government). According to this law there are two funds-a saving fund and a benefit fund. The employees contribute 10 per cent of their earnings to the savings fund and the management of the company contributes to the benefit fund 8 per cent of the earnings of those receiving 720 rubles ($370.80) or less and 6 per cent of the earnings of those receiving more than 720 rubles ($370.80). The right to receive the savings accounts is unlimited after one year of service; for the purposes of adjusting the payments for the benefit funds the employees are classified into four groups, (1) the workmen and employees on land, (2) the line officers, (3) sailors, except firemen, and (4) firemen.

The minimum payment of 50 per cent of the account in the benefit fund is paid to employees of the first group after 10 years of service, of the second group after 9 years, of the third group after 8 years, and of the fourth group after 6 years. For each additional year 5 per cent additional is allowed to the first group, 5 to 6 per cent to the second, 6 per cent to the third, and 8 per cent to the fourth. The full amount is paid to the first group after 20 years, to the second after 18 years, to the third after 16 years, and to the fourth after 12 years.

In case of death or abolition of the position the entire value of both accounts is paid to the employee or his heirs, independent of the length of service.

PENSION FUNDS OF THE "ZEMSTVCS."

All the pension institutions described have been established by the Central Government for its own employees. A brief description of the pension funds of the "zemstvos" (the organs of local self-government) are of considerable interest, as evidence of the great popularity of oldage insurance in Russia, though the majority of the employees belong to the professional classes (physicians, nurses, agronomists, clerical employees) and so bear only an indirect relation to the problem of labor insurance.

The "zemstvos," organized in 1864, are representative bodies elected by the landowners and peasants. As early as 1868 the first zemstvo employees' pension fund was established by the provincial zemstvo of Tver; the Province of Nizhni Novgorod followed in 1871, and St. Petersburg in 1877. These led to a general law, promulgated on April 30 (May 12), 1883, regulating all pension funds to be established by the zemstvos. The law required the approval of the constitution by the Ministry of Interior as a necessary prerequisite and also the agreement of all the district zemstvos of a province for the establishment of a pension fund in that province. The contributions of the zemstvos were limited to 3 per cent of its budget. From 1883 to 1899 pension funds in conformity with the law were established by 14 zemstvos, while many others petitioned the Ministry of Interior for changes in the law regulating such pension funds, namely, that the agreement of the majority of the district zemstvos be sufficient or that the provincial zemstvos be granted power to make pension funds obligatory for the district zemstvos of its province. It was even suggested by some zemstvos that one central old-age pension fund for all zemstvos be established by cooperation among all zemstvos. Several zemstvos insisted that funds of the "insurance type" were preferable to those of the "emeritus type" (Emerital 'naja Kassy).

Under the former is understood in Russia the type of pension fund in which the amount of pension depends largely upon the total payments made, while the "emeritus type" of funds grants pensions depending upon the salary at time of separation from service. It is almost impossible to construct any tables for the latter type of pension funds, so as to make them self-supporting. This type was popular for the earlier pension funds of government employees, when the Government undertook to cover any deficits; and of the 14 pension funds established before 1900, 11 were of that type. Under the influence of these memorials the Ministry of Interior elaborated a new plan for zemstvo pension funds, which passed the Imperial Council and was approved on June 12 (25), 1900. This new law is

based on the "insurance plan." It was the intention of the ministry to make the establishment of pension funds obligatory for all zemstvos, but the Imperial Council did not agree with that demand, leaving the organization of the pension fund to the decision of the provincial zemstvos. It also rejected the demand of the ministry, that all the existing pension funds be made to conform to the type outlined in the new law.

With the promulgation of the law the establishment of new pension funds proceeded very rapidly. One fund was opened in 1901, 6 in 1902, 4 in 1903, and at this time all the 34 zemstvos, with the possible exception of one or two, have pension funds. While the change from the old to the new type was not obligatory, a great many zemstvos have made such changes, leaving the old funds to carry only those employees who have been members in it for a series of years. Altogether 15 of the 34 zemstvos now have pension funds conforming to the new law of June 12 (25), 1900. Each one of these has its own constitution and by-laws, which differ from each other in minor details, but they must all conform to the general demands of the law.

The general basis of this law is a rather close imitation of that establishing the State Railway Employees' Pension Fund, the greatest fund of its kind. Membership in the fund is obligatory for all paid employees of the zemstvos (not excluding the elective officers) below a certain age (50 in some funds and 55 in others). The income of the fund is derived from (1) obligatory contributions of the members, of the same nature as in the railroad fund, namely, 6 per cent of the first year's salary as an initiation fee, 6 per cent of the monthly salary, 10 per cent of the special-prize moneys, the difference between · the old and new salary for three months in case of promotion; (2) voluntary contributions of members, the amounts not to exceed the obligatory contributions; (3) contributions of zemstvos; (4) profits from investments; (5) miscellaneous revenues, such as fines, moneys unclaimed, etc. The distinctive feature of the law is the heavy contributions of the zemstvos, which must be equal to those of the members, i. e., 6 per cent of the salaries. This gives a total of 12 per cent of the salaries as an annual contribution to the pension. Under such conditions it is comparatively easy to grant liberal pensions.

The contributions of the members must be credited to their personal accounts, while the contributions of the zemstvos are distributed in the following order: The cost of orphans' pensions must be secured; then any deficit of the fund shall be covered, unless previously met out of the reserve; then the remaining sum is distributed among the accounts of wives, but not to exceed two-thirds of the members' contributions for the same year; and finally, if there is still any remainder, it is distributed among the accounts of the members.

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