Truesdale Pension

Does anyone know much about the Truesdale Pension and why it was so favorable for many DL&W employees to take advantage of it prior to the merger with ERIE ?

How different was it in retiring on the EL pension in the early 1960's ?

What was the deadline date for taking advantage of it ? - seems I have heard sometime in Summer of 1959.

Found the answer to my question...I think... so will share it here.

The Lackawanna "Truesdale Pension" paid the retiree about 25% more than the Erie pension, hence the scramble for many DL&W employees to retire at that time or just before. The EL adapted the Erie pension and the DL&W pension was discontinued on June 30, 1959. Not sure what went on between July 1, 1959 and October 16, 1960.

The EL adapted the Erie pension for several reasons, the biggest being cost / retiree. Also, the Erie pension was funded and covered management and rank & file. The DL&W pension was highly leveraged for some classes of employees, hence in effect unfunded (paid largely out of cash flows instead of largely out of investments)

Anyway, that is all I can find out, and not sure I understand all I know !