Nixon pension reform bill seeks 50 age-and-service vesting
Labor Secretary Hodgson urged quick passage of a bill guaranteeing retirement benefits when a worker’s age plus years of service reach 50. He contrasted the administration plan with the Williams Javits proposal, arguing the latter sets weaker protections for middle aged and older workers while adding mandatory funding and termination insurance studies. The administration plan would vest 90 percent at reach 50 with 10 percent additional vesting yearly, and cap service and age requirements for plan participation.
MENTIONED IN THIS ARTICLE
Washington
UPI
James D. Hodgson
Senate
Hodgson
Morrison A. Williams Jr
Dan.j
Senate Labor and Public Welfare Committee
Jacob K. Javits
RNY
Internal Revenue Code
Treasury Department
Todgson
Willams—Javits
Madison
Labor
Treasury Departments
Congress
ITT accepts injunction on sale of securities
The Securities and Exchange Commission said ITT consented to a permanent injunction barring further securities law violations in the sale of ITT stock. The action names two executives and an investment banker involved in alleged use of inside information prior to a public antitrust settlement. The case was filed in U S District Court in New York.
MENTIONED IN THIS ARTICLE
ITT
Washington
Securities and Exchange Commission
International Telesphone & Telegraph Co
SEC
New York
Halian
U.S. District Court
Wong
SMC
Classified Ads Urge Readers to Seek New Job Opportunities
A reader directed message invites individuals to explore better employment in today’s classified section. It highlights available positions, encourages updating resumes, and urges swift action for improved career prospects.
Fiiji fighter-bombers grounded after seventh crash in four years
The US Air Force grounds about 215 F-111s following a second fatal crash at Eglin Air Force Base Florida. Crewmembers ejected but parachute failed. the plane crashed into the sea killing both men. Previous incidents include a 1969 wing failure and multiple tests and replacements on detonators. Grounding affects Mountain Home Nellis Cannon bases. Upper Heyford and SAC fleet largely unaffected.
MENTIONED IN THIS ARTICLE
FIUL
Mountain Home Afb
Air Force
Tactical Air Command
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