Insurance and Annuitites for College and University Teachers

Abstract

THE recently issued twelfth annual report of the president and treasurer of the Carnegie Foundation for the Advancement of Teaching is one of much importance in connection with the question of, life insurance and pension provision for college and university teachers in America. Twelve years ago the above corporation was founded in order to provide pensions for the college and university teachers in the United States, Canada, and Newfoundland, and during this period it has, without doubt, not only proved a boon to the beneficiaries, but also increased the attractiveness of the teaching career. But the experience of the past twelve years and a careful study of the whole problem have led the trustees of the foundation to the conclusion that the principles on which they have acted in the past have been unsound. While insisting that the payment of pensions to men who, like college and university teachers, are in receipt of fixed and rather modest salaries must be regarded as a matter of right, and not of favour, the trustees have become convinced that no, system of free pensions can be devised which will not in the end affect the teacher's pay, and that the contributory system of annuities is the only one which society can permanently support.