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Yale announced yesterday that it will use the income from December's $4,000,-900, Ford Foundation grant to increase salaries of the Faculty and enlarge retirement and insurance benefits for all faculties.
Harvard has not yet made public how its $4.5 million grant will be distributed or what fringe benefits will be included. The Foundation, when making the grants did not specify how the money was to be allocated, except that it be used to increase the salaries of the Faculty of Arts and Sciences.
The Committee on Compensation, headed by Dean Bundy, has been studying a plan granting fringe benefits to the Faculty similar to those offered by Yale.
Corporation Grants
Under its new plan the contribution made by Yale to a retirement fund will be increased from five to ten precent of each faculty member's salary. The individual professor will not be required to contribute more than the five percent he is paying at present.
The Yale corporation said it will also add to the income from the grant to provide the same fringe benefits for faculties other than that of Arts and Sciences, which are not covered by the grant.
Salaries of the Faculty of Arts and Sciences will be enlarged according to seniority, achievement, and position on the faculty. Instructors and assistant professors will receive a $250 increase in their starting salaries, bringing these to $4,500, and $5,500 respectively while starting associate professors will have their incomes raised $500. to $7,000. The boosts in professors' salaries will depend on seniority, with the maximum increase set at $1,000.
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