Labor Day is a federal holiday established to honor and recognize the American labor movement, acknowledging the essential contributions of laborers to the nation’s development and success.

An example of labor benefits is summarized in this 1972 booklet from the Bates Manufacturing Company detailing their pension plan. Under this plan, a worker could receive a normal pension after age 65, provided they had accumulated more than 15 years of service with the company. For every year of “Credited Service,” an employee earned $1.35 per month toward their pension. Therefore, an employee with 40 years of service would receive a monthly pension of $54.00. The plan also offered an additional guarantee: 36 months of pension payments would be assured, and in the event of the retiree’s death, their beneficiary would continue to receive these payments.