Viewing page 119 of 200
This transcription has been completed. Contact us with corrections.
-4-
[[2-column table]]
| Service | Points |
| 10 yrs Active (include both commissioned and enlisted Active duty) | 3,650 |
| 20 yrs Reserve, both commissioned and enlisted @ 50 points per yr. | 1,000 |
| Total points earned | 4,650 |
. . . . . . . . . . . . . .
| | Yrs. of Service |
| Total points earned (4,650) divided by 360 which amount is stipulated in the law equals - | 12.7 |
[[/table]]
2 1/2 times 5,700 (annual pay) times 12.7 yrs of service equals ... $1,809.75, which amount would represent the annual retirement benefit.
. . . . . . . . . . . . . . .
Let us, for a moment consider the possibilities of this law.
1. There will be ample opportunity for promotion in the Reserve due to attrition over a long period of peace.
2. I believe that about 500 or more Airline Pilots will be eligible for this benefit, and that they are mostly in the higher field grades. There are, in addition our newer members who are veterans of WW II.
3. The rate of pay in the Army, Navy etc. is presently being studied by a board appointed by The Secretary of Defense, and their report will beyond any doubt result in an upward revision of the existing pay scales as they might affect the benefits accruing under this law. (Flight pay is not included in retirement pay)
4. The future is before us. None of us can foretell what it will bring, but the possibilities of the proposition are interesting and encouraging, and any law is subject to improving amendments. As it now stands only a part of our group is eligible for benefits, but future active duty, should there be an opportunity for such duty could easily set to include a substantially larger number.
You no doubt have a copy of the law by this time, and these remarks are in response to a personal urge to talk a little about it.
Very truly yours,
/s/ W. H. Proctor
W. H. Proctor
