age prevented from doing the regular amount of work.[47] Under the original plan, which went into effect January 1, 1903, the Association issued retirement certificates to members in the sums of $500, $400, $300 and $200 at monthly premiums of $6.70, $5.35, $4.00 and $2.70, respectively.  On retirement, after having paid thirty annual premiums, or their equivalent, the beneficiary was entitled to receive annually the amount of his certificate.  The retirement might also take place after thirty years’ service, or after thirty years’ membership in the Association, or after the age of sixty-five had been reached, provided ten annual premiums had been made.[48] This “ten annual premium” concession was for the special benefit of old men whose circumstances would not allow them to pay the sum of thirty years’ premiums.  The concession was allowed only for a period of ten years.[49]

[Footnote 46:  The Postal Record, Vol. 15, pp. 235, 254-257.]

[Footnote 47:  The Postal Record, Vol. 15, p. 301.]

[Footnote 48:  Ibid., Vol. 17, p. 6.]

[Footnote 49:  Ibid., Vol. 15, p. 302.]

The scheme also included provision for disability.  After January 1, 1906, any member of the Retirement Association who became permanently incapacitated, mentally or physically, for any kind of remunerative labor before thirty years’ service or before attaining the age of sixty-five years, was to receive annually from the retirement fund a certain per cent. of the face value of his retirement certificate.  The amount was proportionate to the years of service.  For five years’ membership such a member received fifteen per cent.; for ten years’, thirty per cent.; for fifteen years’, forty-five per cent.; for twenty years’, sixty per cent.; for twenty-five years’, seventy-five per cent.  Any member of not less than five years’ standing might, after ninety days’ notice to the chief clerk, withdraw from the Association; and in such event he became entitled to receive seventy-five per cent. of the annual premiums paid to the Association.  Also in case of death within two years of his retirement and prior to the payment of not more than twenty-four monthly installments of pension, the Association agreed to pay to the widow, the children, or legal heirs the annuity provided in the deceased member’s certificate until the amount paid should aggregate seventy-five per cent. of all premiums received by the Association.[50]

[Footnote 50:  The Postal Record, Vol. 17, p. 6.]

This plan was a failure.  In it business principles had been sacrificed for fraternity.  Relief had been provided for the old man particularly, but very few took advantage of the opportunity.  The young men refused to enter because the favorable rates to old men placed a heavy burden upon the younger members.[51] The report of the chief clerk to the Syracuse convention, in 1903, showed that up to September 1, 1903, only eighteen retirement certificates had been issued,