TABLE II.-Showing maximum amount of annual appropriation by the Federal Government necessary to provide a quarterly annuity to each person in the classified civil service June 30, 1907, upon attaining retirement age (the amount of annuity to be 1.5 per cent of the employee's salary for each year of service completed prior to that date). TABLE II.-Showing maximum amount of annual appropriation by the Federal Government necessary to provide a quarterly annuity to each person in the classified civil service June 30, 1907, etc.-Continued. The following table, taken from the report above referred to (p. 174), shows the total and comparative cost to the Government of establishing a plan of retirement for employees under the terms of the Perkins bill (S. 1944, 61st Cong., 1st sess.) and the Gillett bill (H. R. 22013, 61st Cong., 2d sess.). The annuities under the Gillett bill (H. R. 22013) are also 1.5 per cent of salary for each year of service, but the amount which the Government will contribute toward any one employee's annuity is limited to the difference between the amount which the employee's own savings will purchase and $600 a year. This table contemplates the retirement of railway postal clerks at age 60, of letter carriers at age 65, and of all other employees at age 70. TABLE III. Showing total and comparative cost to the Government of establishing plan for retiring employees under terms of Perkins bill (S. 1944) and Gillett bill (H. R. 22013). |