REPORT OF THE 

 PENSION BOARD 



OF THE 



NEW YORK ZOOLOGICAL SOCIETY 



THIS Board, consisting of nine members, is appointed by the 

 New York Zoological Society through its Executive Com- 

 mittee for the purpose of carrying out the provisions of the 

 Carnegie Pension Fund, and the regulations governing the ad- 

 ministration and disbursements of the Pension Fund Income 

 Account. Five of the members of the Board represent the Board 

 of Managers, three the employees of the Zoological Park and 

 one the employees of the Aquarium. 



The Carnegie Pension Fund, the gift of Mr. Andrew Car- 

 negie, consisting of $100,000, is invested by the Zoological So- 

 ciety, and the income, as well as contributions by the Zoological 

 Society, and contributions from the employees, is used for the 

 payment of pensions to such employees as are entitled thereto 

 under the provisions of the regulations agreed upon between 

 the Society and the employees. 



The income from the Carnegie Fund, amounting to $4,360 

 annually, is supplemented by contributions from the Zoological 

 Society to reach the sum of $8,000 per year. This is further 

 increased by monthly subscriptions from the employees, the 

 same being 2% of the salaries earned by such employees, and 

 amounting to about $3,200 per annum at the present time. 



A contributing employee becomes privileged to receive a 

 pension after 15 years of continuous service if he has reached 

 the age of 70, in which case the pension amounts to 30% of his 

 salary, with an increase of 2% for each additional year of serv- 

 ice up to the 20th year, with a minimum pension of $20 per 

 month. After 20 years of continuous service at the age of 65, 

 a 30% pension with a minimum of $25 per month is paid. After 

 25 years' service at the age of 65, 40% with a minimum of $30 

 is paid. After 30 years' service, 50% pension with a minimum 

 of $35 per month may be paid. 



Periods of service are counted only from the time an em- 

 ployee reaches the age of 21, except in the case of female em- 

 ployees, who are eligible for membership at 18 years of age, 

 and entitled to pensions in every instance, five years younger 

 than male employees. 



