Viewing page 72 of 200

This transcription has been completed. Contact us with corrections.

-2-
The resolution then directed the appointment of the Interim Retirement Committee and instructed it:

"...to draft a retirement plan for employees of the air transport industry with special consideration for the retirement needs of pilots.

"This plan shall be submitted to all council chairman for approval in order that the proposed legislation shall be introduced by the Air Line Pilots Association in the 80th Congress."

Your Committee proceeded forthwith to carry out the mandate of the convention. At the Executive Board meeting May 21, 1947, the Committee presented a draft of a bill and outlined the principles on which the bill had been based.

In the preparation of the initial draft bill there was no data available as regards several factors which were important, both from the point of view of determining certain precise shades in the character of pilot needs and from the point of view of calculating costs. The draft retirement bill fixed tax rates at a level intended to maximum and which were to be subject to reduction when necessary cost data were secured.

The May, 1947, Executive Board meeting approved the principles on which the draft bill was based, approved the draft bill itself in principle, instructed the Interim Retirement Committee to discuss the draft bill with members of Congress in order to secure the benefit of their advice and counsel, and submit the bill to the Board of Directors for approval. Meanwhile, without waiting for the approval of the Directors, headquarters was to send questionnaires to members and former members of the Association in order to get the necessary data, was to make or arrange for the making of such tabulations of these data as the Committee directed. On the basis of these data detailed cost estimates of the proposed retirement system were to be prepared. The Committee was instructed further to propose a detailed plan for the introduction of the draft bill in Congress, or to present a plan for negotiations with the air line companies to secure the plan if legislation seemed to be imprac-