RETIREMENT RESOLUTION



(Adopted by the Board of Trustees on June 27, 1976)



The Board turned to a request for approval of a retirement



resolution from the faculty which would provide faculty members in



the TIAA/CREF program with an additional option with regard to their



participation in the retirement program of the College. Under this

option, the faculty member could elect to receive somewhat less

Salary on a currect basis with the result that some of his income

tax payments would be shifted to later years. Because of the

complicated nature of this proposal, a statement covering this

recommendation had been drawn up end forwarded to the Board prior

to the meeting...



The Business Manager outlined the proposal being made to the

members of the Board of Tyustees, and this proposed modification

in the College's retirement program was discussed by members of

the Board. It was then moved, seconded, and agreed to adopt the



proposed retirement resolution as presentedeecee



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