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[[underlined]] CONFIDENTIAL [[/underlined]]

TO: ALL DIRECTORS AND OFFICERS

Your Interim Retirement Committee was appointed during the Ninth Convention of the Air Line Pilots Association and was directed by the Convention to accomplish the following:

1. Make a study of the Railway Retirement Act.
2. Emply necessary research counsel and draft a plan giving special consideration to the retirement needs of the airline pilots.
3. Act on authority and direction of the Executive Board.
4. Submit the plan to the Directors of the Association for approval before presentation to the Eighteenth Congress.

A survey was made, a plan drafted, and the Committee presented its report to the Executive Board in May, 1947. The Executive Board approved the actions of the Committee and instructed the Committee to continue in accordance with the mandates of the Convention. The Executive Board ordered that absolute secrecy be maintained by all members on any matters connected with the Retirement Plan until the interim Retirement Committee released the secrecy restriction. The Committee has just presented another report to the Executive Board, on November 20th, 1947, and outlined its further plan of action leading up to the introduction of the bill into Congress during January, 1948. The Executive Board on this date approved the last report of the Interim Retirement Committee and its contemplated actions leading up to the presentation to Congress. The secrecy restriction is hereby released as far as all active and all inactive non-airline executive airline pilots and all friends of the airline pilots are concerned. This matter should be treated as confidential as far as other than airline pilots are concerned and extreme caution