The Proposal of the Carnegie Foundation for Teachers' Insurance

C. O. Ruggles
1917 Journal of Political Economy  
In a recent report of the Carnegie Foundation for the Advancement of Teaching,' President Pritchett indicates what he considers the weaknesses of the present pension plan of the Foundation and outlines the features of a proposed plan. He points out that although the fund which the Carnegie Foundation holds must by the conditions of the gift be used in the payment of retirement allowances and similar benefits to college teachers, the particular manner in which this is to be done is left to the
more » ... ne is left to the discretion of the trustees; that it is their duty and responsibility to work out the best possible plan; that it was in accordance with such responsibility that the Foundation incorporated among its rules for granting retiring allowances the statement that "the Carnegie Foundation for the Advancement of Teaching retains the power to alter these rules in such manner as experience may indicate as desirable for the benefit of the whole body of teachers." The trustees, at a meeting in November, I9I5, received and discussed the Report but took no action except to pass the following resolutions: WHEREAS, The benefit of the present pension system of the Carnegie Foundation is necessarily confined to a limited number of institutions and does not furnish to the teachers in those institutions adequate protection for themselves and their families; and WHEREAS, This system and any other non-contributing pension system involves constantly growing financial burdens, increasing the discrimination between associated and non-associated institutions, and creating an annual charge which may ultimately become too great for the fund to bear, Resolved, That the Board of Trustees approves the efforts of the president to devise a contributory pension system which without unfairness to the just expectations of institutions or individuals under the present rules shall enable
doi:10.1086/252961 fatcat:czhbqov3hzarpmlypo7thfdz6y