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6.  A uniform retirement system for all air line pilots in the country is a desirable measure of security not only for the airline pilots themselves but for the employers and for the nation.  Means to hold capable pilots in the air transport industry are essential not only for the orderly development of the industry itself, but as a highly important measure of national defense.

7. Under a nation-wide system the pilots are prepared to pay for half the cost.  We believe that any pilot who, after 5 or 10 years of service, is so disabled as to be unable to continue in his occupation ought to be entitled to an annuity not less than, say, one-third of the average compensation of pilots, or alternatively, one-fourth of the average pay of captains.  To think it would be reasonable to reduce this amount, at 65, by the amount of any annuity payable under Social Security.  And those exceptional men who are able to remain as pilots for a longer period of years than average might reasonably be paid a somewhat larger annuity based on, let us say, the Railroad Retirement Act annuity scale, but with the $300 monthly pay maximum of that system.  In no case would I advocate an annuity as large as those which can theoretically be earned by, let us say, a United or Pan American pilot who flies for 35 years.

8.  There will always be some pilots who for various reasons will leave the industry of their own accord.  Such men ought to be entitled to the annuity credits which they have earned, and should not be limited to a refund of their own payments.  These annuity credits would be payable upon the retirement of  a former pilot from whatever job he goes into after ceasing to be a pilot, but not before age 60 unless he is so disabled as to unable to do any kind of work, in which event the income might start at that time.