Masonry Magazine December 1963 Page. 16
Labor Department Study
A study released today by the U. S. Department of Labor reveals that most of the 161,750 employee welfare and pension benefit plans included provide for two or more types of benefits, and that combinations of life insurance, hospitalization or surgical benefits are contained in over half of all plans.
The analysis of plan characteristics is based upon employee benefit plans on file with the Department's Office of Labor-Management and Welfare- Pension Reports as of July 1, 1963. Virtually all plans with 26 or more participants are covered by the Welfare and Pension Plans Disclosure Act under which the plan descriptions are filed by plan administrators.
Four out of five of the plans are welfare benefit plans, and most of the remainder are pension plans. There are a few plans with combination welfare and pension benefits.
Plan administration is substantially in the hands of employers and employer groups, who account for 88.1 percent of the total number, while plans administered jointly by employers and unions constitute 6.7 percent.
The study does not include the number of persons participating in or benefitting from the plans, since this information is not required in the plan description.
Contributions to the plans come largely from employers or from a combination of employers and plan participants. These sources provide for the financing of about nine out ten plans. Particpants independent contribute more heavily to welfa plans and less heavily to pension plas varying the nine-out-of-ten ratio a cordingly. The remainder are nanced through contributions solc from unions or from unclassifi sources.
Hospitalization benefits lead others in the 128,340 welfare pla Some form or protection in the eve of hospital need is provided to par cipants and beneficiaries in two out three plans. Surgical benefits folle closely while life insurance ranks th by being included in three out of fa plans.
The leading states in total pla are: New York, 21,370; California 12,670; Pennsylvania, 12,550; Illinc 12,480; and Ohio, 11,090. States which the fewest plans were repor were also generally lowest in popu tion.
The report is available through Department's Office of Welfarea Pension Plans, Washington, D. C. 20210.
An executive came home and slumped in his favorite chair with a disco aged look on his face. His wife asked what was the matter. "You know these aptitude tests we giving at the office? Well, I took today, and all I can say is it's a go thing I own the company."
When her daughter returned from a car ride in the country, the mot noticed that one of her shoes w muddy, "Why is your right shoe m dy and your left shoe is not?", the mother asked. "I changed my mind," replied daughter.
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Copyright 1963 by
PORTLAND, OREGON GUELPH, ONTARIO
AMSTERDAM, HOLLAND VARBERG, SWEDEN
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"Aren't you architects allowing just a lit too much sway in these new mode buildings?"
MASONRY
December, 1