retirement certificates had been issued, of which thirteen were for
$500, two for $300, and three for $200. The average age at entrance was
fifty-three and the average length of service, twenty-two years. The
total receipts of the retirement fund were only $390.90.[52] On
September 1, 1905, the total number of certificates issued had reached
twenty-five, with only nineteen outstanding, while the retirement fund
had increased to $2839.88.[53] The originators of the Retirement
Association were forced to abandon their experimental fraternity scheme
and to formulate a plan based more upon business principles.
Consequently, at the Portland convention in September, 1905, Chairman
Goodwin and Chief Clerk Wilson of the retirement committee proposed a
new plan.[54]

[Footnote 51: _Ibid_., Vol. 19, p. 7.]

[Footnote 52: _Ibid_., Vol. 16, p. 237.]

[Footnote 53: _Ibid_., Vol. 18, p. 215.]

[Footnote 54: _Ibid_., Vol. 18, pp. 214-215.]

Under the new law, which became operative January 1, 1906, the
Retirement Association was authorized to offer insurance against
disability and old age. The members are, therefore, divided into two
classes, annuity members and disability members, but those duly
qualified may hold both annuity and disability certificates. Any member
of the National Association of Letter Carriers may become an "annuity
member;" but only those under sixty-five years of age and in good
physical condition may become "disability members." A member retiring
from the carriers' service ceases to be entitled to disability relief;