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Ford UAW Pension Settlement Sets Pattern for Auto Industry
The noncontributory pension accord won by the United Auto Workers at Ford Motor Co. will be followed by Chrysler Corp. as Walter P. Reuther declares the Ford plan a model for the industry. The agreement sets 30 years of service for age 65 to 100 dollars monthly, with optional early retirement and a five year freeze starting March 1 1950. Retirement rules and insurance modifications accompany the package, with a two and a half year overall freeze and a three week ratification window.
MENTIONED IN THIS ARTICLE
Pres
Walter P. Reuther
United Auto Workers (Center
Detroit
UAW Ford
Kenneth Bannon
Ford
John S. Bugas
William Clay Ford
United Auto Workers
Ford Motor Co
Chrysler Corp
General Motors
Pres. Truman
Steel Factfinding Board
Philip Murray
United Steelworkers
Corporation
Reuther