Albuquerque morning journal., 1916-07-03
TERM INSURANCE
FOR TEACHERS IN
COLLEGES, PLAN
New System of Providing for
Superannuated Professors
Just Announced by Car
negie Foundation,

uv poHnlss JOURNAL spse'st ,ssst0 WISE

New York July 2.--The Carnegie
Foundation for the Advancement Of
Teaching made public today "A plan
of far-renching scope for insurance
and annuities for college professors In
the United states and Canada
The pension system which the
Foundation adopted when it was es-
tabished. ten years ago, and which
has consisted largely In the grantngI
of retiring allowances to aged profes-
sors in certain colleges has, il is
frankly declared, been found uu-
sound" ana it is proposed to do away
with it,
Faults OF Present System.
The faults of the present system
and the features Of the new plan were
set forth in a report by DR.. Henry S
Pritchett, president of the Founda-
ton, which was given out today,
While the new plan has not yet been
adopted, the report in favor Of it has
cen issued with the fun authority Of
the trustees of the Foundation, ana
some time during the year they will
consider the question Of putting the
scheme into practice.
The new plan proposed a system Of
term insurance for teachers to the
nuitv for life. accumulated by coutri-
buttons from the teachers and their
respective institutions. ON its part
the foundation proposes TO use its ell
tire income for the maintenance and
development Of the system, contribut-
ing toward protection of teachers
against disability, guaranteeing pen
slons for widows, paving all expenses
Of administration and securing a good
rate Of interest on all acCumulations
Relief for College Teachers.
'The primary object says the re-
port. is to construct q relief system
available TO the great body Of college
teachers"
THE weaknesses OF the present
pension system as shown by expert
ence Of ten years are these:
Under the existing rules a college
teacher acquires a claim for pension
only after twenty-five years Of serv-
ice in professional grade or thirty
years Of service as professor and in
structor or as an instructor alone.
This means that the typical teacher Isl
between fifty-five and sixty years of
age before lie has, under the rules
any protection for himself or his fam
ily. As a system Of relief, therefore,
lut tAlElAHE BEISlOl Sa stem LoUtuts
but small proportion Of the men and
women who teach in the colleges and
universities. II holds out to the man
or lhirly a nope OF security which IS
likely to be illusory.
80 i'ii9t'"s ,,,l,f''' Not 'uN'''i'"'
ii ile IulIutln - .i.l eiltoi ueiVct IN Inc
Ii vAIs,1i!E PenSion system iies IN me
@ poi9iI l.'"t Il5s pensions lor CoL-
go Woulu pe PEI iIIaHeiUg /
5u,lIi ieu' IN She 'snt oI zen Years u
rAptIIel''e anu ,l'i. IN lle llsnt Oh tle eN-
~. ., i''i.oe "I GuIoptau pension Syflel'ls
a',,s Sl'i'lpIIoI sggIls 70 rest upon
,,'I. r,lsC.Ite soCl!i pliIIosopIg .,,S NO per
,''3iieI' ''i}iie' au'd'l'dEe VIII accF 9e 10 euN
u "n9 ~ iSsSloH ny Hl'r"S
I'm I'm li'e S'uui"r'9 oI I's iu' li'eis a
ie toau ".ilCh nuItI iioiuI ana e'oIio'i'Ie
'MS f.S,l lHty ouSnt 20 peal' ---..,
t me man u StNlF i've uheNpe'leu~
pi5'eItt" WI" pension mas re-
leheu u eiaClou9 sHI me iilah NHo
ib9itS. loi "a'u owe an lnlerNal oi
,ai ,! - -l'Ee Ye"rA 70 lts aceeplaLce wiz
E"S foS iot II III one way or anolhef pc.
,ole ,, ne receives H. ana II u III every |
'%S I%"S ~ ms "u !Gbe 'iiat lIeIe pe ne ,
,'uI. D7e VI ''S ~ W el'IleF ule quustlou VI
1,,I :. or inianclaI Cettaus'y'