NYSA TI Single-Page 3
The Tobacco Institute 1875 1 Street. Norti_vest %Vashington. DC 20006
Abstract
We are pleased to inform you about a significant improvement that has been made to The Tobacco Institute Employees' Pension Plan.
Fields
- Named Organization
- Tobacco Institute (Industry Trade Association)The purpose of the Institute was to defeat legislation unfavorable to the industry, put a positive spin on the tobacco industry, bolster the industry's credibility with legislators and the public, and help maintain the controversy over "the primary issue" (the health issue).
- Named Person
- Milway, Daniel A. (TI Sr. VP)Defense
- Date Loaded
- 18 Jul 2005
- Box
- 0162
Document Images
THE TOBACCO INSTITUTE
1875 1 STREET. NORTI~VEST
%VASHINGTON. DC 20006
202:457q800 • 800:424-9876
MEMORANDUM
March 4, 1981
To: The TI Staff
From:
Daniel A. Milway
Subject: TI Pension Plan
We are pleased to inform you about a significant improvement
that has been made to The Tobacco Institute Employees'
Pension Plan.
As you know, the present plan calls for 100% vesting of bene-
fits upon the completion of i0 years of qualified service.
At its meeting on February 28, 1981, the Board of Directors
approved a change in these vesting rights under the Plan.
This change is retroactive to January I, 1981 and implements
the following schedule:
Years of Vesting Service
Subsequent to Age 22
Vested Percentage
Less than 5
5 but less than 6
6 but less than 7
7 but less than 8
8 but less than 9
9 but less than i0
I0 or more
0%
5O%
60%
7O%
8O%
9O%
100%
This change will be included in a revised summary plan descrip-
tion that will be distributed shortly.
The fringe benefits that you receive are a very valuable part
of your total compensation and they are under regular review
by management to ensure that we are competitve. It is impor-
tant that you recognize that these benefits are expensive and
that their total cost is paid by The Institute.
yb
T103760122
