NEW PLAN FOR JOBLESS RELIEF IS INAUGURATED
New Plan For Jobless Relief Is Inaugurated Power Trust Has Plan to Aid a Few Workers By $20 Per Week; Many Are Left Out NEW YORK.—The General Electric company's unemployment insurance plan, that...
...Is an experiment and Is optional with employes...
...Each plant administers Its own fund with a board composed of employes and appointees of the company, which elect...
...The plan does not apply to workers who may be discharged because of consolidations or elimination of departments, nor to workers employed in rush periods...
...The plan Is effective in any plant when 60 per rent of the employes desire It...
...its own chairman...
...Any employe Is eligible if he has been employed one year...
...Swope said...
...The company creates a trust for the fund and guarantees 5 per cent interest on average balances...
...The higher payment s'ftl a^ply to foremen and other supervisors...
...Those workers do not come under the one-year provision...
...Persons leaving the company may withdraw the amount they have paid, less benefits they have drawn and their share of payments made to o/hers...
...Many Are Left Out NEW YORK.—The General Electric company's unemployment insurance plan, that has Just b?rn launched, was explained by President Gerard Swope, to a ground of business men in this city...
...Only those workers who are "temporarily" laid ofT will come under the plan...
...When they are discharged, they can withdraw the amount of money paid In by them, but they receive no benefits...
...The amount paid to any employe trmporarily laid off can't exceed $20 a week and 'or not longer than 10 weeks In anr one year...
...He pays 1 per cent of his weekly earnings, the company paying an equal amount...
...It will not affect, the victims of automatic machinery or scientific processes...
...The plan...
Vol. 1 • August 1930 • No. 37
