Items of Interest April 21, 1906 Issue

Items of Interest

The trustees of the Carnegie foundation, who are charged with administering $10,000,-000, the gift of Andrew Carnegie to provide pensions for professors and teachers of institutions of higher learning in the United States and Canada, met recently and adopted a scale of pensions. The income from the fund will be about $500,000 a year, and there are now on file two hundred applications from professors. It is expected the system will be the actual operation by June. The rules as adopted by the trustees make the following provisions:—

Any person sixty-five years of age and having served not less than fifteen years as a professor, who is at the time of his retirement a professor in an accepted institution, shall be entitled to an annual retirement allowance as follows:—

For active pay of $1,500 or less an allowance of $1,000 shall be granted, providing that no retiring allowance shall exceed ninety per cent of active pay; for active pay greater than $1,600 the retiring allowance shall equal $1,000. increased by $50 for each $100 in excess of $1,600. After twenty-five years' service, regardless of age, the retiring allowance was fixed as follows: For active pay of $1,600 or less, a retiring allowance of $800 shall be granted, providing that no retiring allowance shall exceed eighty per cent of active pay; for active pay greater than $1,600 the retiring allowance shall equal $800, increased by $40 for each $100 of active pay in excess of $1,600; no retiring allowance shall exceed $3,000.

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