Psutka v. Michigan Alkali Co.

Ample consideration to defendants to support their benefit plan as a contract with their employees is found in the attraction of more competent workmen to defendants’ employ, the inducement of better and more continuous service and the avoidance of expense of labor turnover.

The promises of the plan to pay pensions to certain employees are as positive as the engagements in ordinary insurance policies. Other promises are expressly made discretionary. And there is a general provision that pensions may be withheld or terminated in case of misconduct of beneficiaries or for other cause sufficient…