Archive Record

  • Email This Page
  • Send Feedback
Title Manual: Pension Plan of Thomas J. Lipton, Inc. Effective December 1, 1945.
Object Name Manual, Employee
Catalog Number 2013.013.0002
Collection Hoboken Manufactured Products Collection
Credit Gift of Dean Pflug.
Scope & Content Pension Plan of Thomas J. Lipton, Inc. Effective December 1, 1945.

This Booklet describes the pension benefits of each member whose Retirement Pension under the Plan is provided by a Group Annuity Contract. It is not the contract. It is in digest form.

Printed booklet, 5-1/4" x 8" high, 32 pp. plus covers. Text of the first five pages including the index is notes.

This copy once belonged to Hoboken Lipton Tea employee Marian Andersen of 825 Washington St., Hoboken. Per donor, grandson Dean Pflug, she worked at the company starting in the 1950s. (Lipton left Hoboken in 1963 for Englewood Cliffs.)

See archives 2013.013.0001, .0003 and .0004 for related employee publications regarding employee manual and pension plans (a transmittal letter and one item dated as 1962) that also belonged to her.

Notes Archives 2013.013.0002

====

[cover title]

Your Life at Lipton!

====

[page 1]

PENSION PLAN

OF

THOMAS J. LIPTON, INC.

EFFECTIVE DECEMBER 1. 1945


This Booklet describes the pension benefits of each member whose Retirement Pension under the Plan is provided by a Group Annuity Contract.

====
[page 3]

INDEX TO BOOKLET

Page No.

DIGEST OF PENSION PLAN—

1.What is the purpose of the Plan......................................................5

2.Who pays the cost of the Plan..................................................................5

3.When does an employee become a member5

4.When is the Retirement Pension payable............6

5.How much is the Retirement Pension....................................7

6.What is the meaning of Annual Basic Pay9

7.How is the Retirement Pension calculated when an employee first becomes a member

of the Plan ............................................................................... 9

8.Will the final Retirement Pension reflect increases in basic pay......................................................... 10

9.Will the final Retirement Pension be reduced if basic pay is decreased .............................. 11

10.For how long is the Retirement Pension payable ......................................................................................... 12

11.How will the Retirement Pension be provided ............................................................................................... 13

12.What are a member's benefits if his employment terminates before his normal retirement date...................................................................................... 13

13.Can a member retire before his normal retirement date........................................................................ 15

14.Is time in military service counted as employment ...........................................................-......................... 16

15.How is the Plan administered................................. 17

====

[page 4]

INDEX TO BOOKLET (continued)

Page No.

16.Future of the Plan............................................................... 17

17.How can a member get more information about the Plan ...................................................................... 17

Appendix A—Optional forms of pension........................ 18

Appendix B—Military service provisions........................ 22

Appendix C—Description of social security benefits 24

====

page 5

Digest of

PENSION PLAN

1.WHAT IS THE PURPOSE OF THE PLAN

The purpose of the Plan is to provide for the payment of a definite amount of Retirement Pension for each member.

This Retirement Pension is in addition to all of a member's Social Security benefits. (See Appendix C on page 24 of this booklet for a brief description of Social Security benefits.)

This Retirement Pension, when added to his own savings and his Social Security income, will put a member in a better position to enjoy his retirement.

2.WHO PAYS THE COST OF THE PLAN

The entire cost of the Plan is paid by Thomas J. Lipton, Inc. and Continental Foods, Inc.

3.WHEN DOES AN EMPLOYEE BECOME A MEMBER

The original entry date was December 1, 1945,—the date the Plan was adopted. In each year after 1945 there are two entry dates, which are June 1 and December 1.

[end page 5]
====
====














People Andersen, Marian
Date 1945
Year Range from 1945.0
Year Range to 1945.0
Search Terms Lipton Tea
1500 Hudson St.
Caption front cover
Imagefile 196\20130130002.TIF
Classification Business & Commerce
Manufacturing
Tea
Food