2013.013

Pflug, Dean

Gift

Gift of Dean Pflug.

1960 - 1962

Date(s) Created: 1960, 1962 Date(s): 1960-1962

Good

Notes: Archives 2013.013.0004 ==== [transmittal letter] Thomas J. Lipton, Inc. Hoboken, New Jersey OFFICE OF THE PRESIDENT September 12, 1962 To All Employees: You will find enclosed a newly published booklet which describes clearly and simply, your benefits from the Company Pension Plan and under the Non-Contributory Group Life Insurance Plan. The two plans comprise the retirement program of the Company which provides worthwhile retirement income for your later years and important insurance protection while you work. These valuable benefits are the most expensive of the many Company plans designed for your peace of mind and family security, and they are maintained entirely free of cost to you. Among the other welfare plans to which the Company makes substantial contributions are the following:- Comprehensive Health Care - (Hospitalization, Surgical, Major Medical). Metropolitan Contributory Group Life Insurance. Accident and Sickness Benefits. Social Security Benefits. Unemployment and Workmen's Compensation. Medical Services. The programs mentioned in this letter involved an expenditure by the Company of $1,800,000. last year. Holiday pay, vacations, and many more additional services brought the total cost of welfare plans, time off, and services, to a level of $4,100,000. or an average of $1,690.00 per employee. I urge that you and your family read and become fully familiar with the contents of the enclosed booklet and with all our Company benefit plans so that you will know what your benefits are. In this way, you will derive a full understanding and appreciation of what your Company is doing to surround your job with a minimum of worry and a maximum of security for you and your family. Best Wishes, [facsimile signature] W. Gardner Barker enclosure. [end transmittal letter] ==== ==== pamphlet text, page [3] November 1, 1960 TO ALL EMPLOYEES: The management of Thomas J. Lipton, Inc., has long believed that responsibility and sincere concern for the welfare of our employees is vital to the successful operation of our company. That is why, in 1945, Lipton introduced a pension plan to make it possible for our retired employees to receive a guaranteed lifetime income. This original plan has since been improved to provide you with an even better retirement program. The new Amended Pension Plan, which went into operation on November 1, 1960, preserves the original generous benefits, and it enlarges the opportunities for employees to participate. This new plan provides security for you and your family through a company-paid Pension Trust Fund which continues to grow from the time you become a member until your retirement. Then, at age 65, you will receive a monthly lifetime income. Moreover, a new Group Life Insurance contract is set up for you after you have been with us for one year. Paid for entirely by Thomas J. Lipton, Inc., this policy gives you and your family added protection and security during your years of active employment with the company. The new Amended Pension Plan and Group Life Insurance provide security for you and your family while you work and upon your retirement. These benefits are paid for completely by the company. Lipton welcomes the opportunity to make this program available to you — and all those who join our company in the future. [facsimile signature] W. Gardner Barker President ==== ==== Status: OK Status By: dw Status Date: 2013-04-04