Compensation Advance

THREE days after the tuition increase was made known President Dickey, on the strength of it, announced the biggest single compensation advance in the history of the College. Most of the increases for faculty and staff, effective July 1, will come in the form of an unprecedented extension of the present retirement and insurance benefits. Under the new plan, the College will bear the full cost of the retirement' program and monthly contributions now made by the faculty and administrative officers will henceforth represent additional "take home" pay. In addition, group life insurance coverage for these staff members will be doubled from $10,000 to $20,000 each at no additional cost to them.

The College will contribute 16% of the individual's annual salary to the retirement fund without requiring the matching contributions now in effect. Under the present system, faculty and administrative officers pay from 5 to 8% of their salaries (the percentage is optional) and this is matched by the College. By adopting the top figure of 16% the College will not only bear the full cost but will in many cases provide the maximum retirement protection that staff members could not afford to carry.

For non-academic employees, group life insurance coverage will be increased and the benefits under their separate retirement plan will be advanced through the payment by the College of the entire cost. For this group, salary and wage revisions will also be made.

In announcing these compensation moves for the entire College staff, President Dickey said, "The Trustees have taken this step as the most effective immediate means of furthering their established objective of maintaining for Dartmouth the strongest possible compensation program."