Page 648 - Bruce Ellig - The Complete Guide to Executive Compensation (2007)

Chapter 11. The Past, Present, and Future 633

1905 Defined-contribution pension plan (Butler Brothers)
1906 Dividead equivalent (DuPont)
1909 Classification job evaluation method (Griffenhagen)
1909 Pay of U.S. president (Taft) set at $75,000
1910–1919
1910 DJIA at 81
1910 Life and medical insurance (Montgomery Ward)
1911 Annual renewable term life insurance (Pantasote Leather)
1911 America’s first billionaire (Rockefeller)
1911 Scientific Management published (Taylor)
1913 Formal employee performance appraisal (Lord & Taylor)
1913 Progressive income tax becomes law (6% over $500,000)
1913 J. P. Morgan dies, leaving an estate of $80 million
1917 Employee stock purchase plan (Kodak)
1917 Defined-contribution pension plan (Strauss)
1917 Revenue Act raises maximum tax to 67% on income over $2 million
1917 Fewer than 1,000 people own all of General Motors’ stock
1918 Bonus plan based on net earnings less a deduction for capital employed
(General Motors)
1919 Andrew Carnegie sets up a $10,000 a year pension for widows of U.S. presidents
1919 Savings and investment plan (General Motors)
1920–1929
1920 DJIA at 71
1920 First “golden boot” (Durant of General Motors)
1920 Revenue Act cuts maximum tax to 50% on income over $500,000
1920 Ranking job evaluation method (Lott)
1921 Credit union (Filene)
1923 America Management Association formed
1923 Executive stock purchase plan (General Motors)
1924 Economic value plan (General Motors)
1925 Financial planning for officers (General Electric)
1925 Deferred profit-sharing plan (Harris Trust & Bank)
1925 Point system job evaluation method (Kelday & Young)
1926 Factor comparison job evaluation method (Benge)
1926 Tax Act lowers maximum tax to 25% on income over $100,000
1928 Blue Cross medical insurance (Baylor University)
1928 DJIA at 300
1929 Stock market crash after all-time high of 346
1929 Million-dollar annual pay (Bethlehem Steel)
1929 Health maintenance organization (Los Angeles Water & Power)

1930–1939
1930 DJIA at 164
1931 Performance stock award plan (Gillette)
1932 Dividend equivalents on outstanding options (Bethlehem Steel)
1932 Maximum tax raised to 63% on income over $1 million
1933 DJIA at 100