24 CARNEGIE INSTITUTION OF WASHINGTON. 



metabolism in man. These contributions are particularly 

 noteworthy also for the extent to which cooperation has been 

 required, since more than twenty authors and more than twice 

 that number of collaborators are represented in the dozen vol- 

 umes referred to. 



The desirability of making provision for retirement on ac- 

 count of age or other disability for members of the staffs of the 

 Institution has been under consideration for 



Retirement several years. A definitive plan for this purpose 



and Insurance. ^^^ approved by the Trustees at their meeting 

 of December 14, 1917; it was made apphcable by action of the 

 Executive Committee April 11, 1919; and it became effective 

 July 1, 1919. 



The plan in question is drawn in conformity with the compre- 

 hensive system of the Teachers Insurance and Annuity Associ- 

 ation of America and is to be administered in cooperation with 

 that organization. A pamphlet setting forth in detail the con- 

 ditions of apphcabiUty of the plan to members of the Institution 

 has been pubhshed and distributed during the year, so that its 

 general features need only be mentioned here. These consist 

 of two provisions which are separate and distinct from one 

 another, namely: (1) for annuities payable after retirement 

 from active service, and (2) life insurance, purchasable by the 

 beneficiary at cost from the Teachers Insurance and Annuity 

 Association of America. 



(1) Annuities are provided by means of equal annual con- 

 tributions from the annuitants and from the Institution; each 

 contributing in any case 5 per cent of the individual's salary, 

 the amount of the latter used in computations for any year being 

 the amount on the first of January of that year. In this co- 

 operation the Institution assumes the overhead expense of 

 administration. 



(2) Provision for Ufe insurance, on the other hand, under 

 the specially favorable terms accorded to members of the 

 Institution, rests wholly with the individuals concerned, although 

 the office of administration stands ready to make such division 

 of any member's salary as he may direct in order to facilitate 

 payments on account of life insurance. 



