Book Description

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 edition. Excerpt: ... 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...