First Report 
To the President and Trustees of The American Museum of 
Natural History and to the Subscribers to the Pension Fund: 
The Pension Board takes pleasure in submitting for 
your consideration its report for the fiscal year ending 
December thirty-first. 
It has been thought advisable to preface the report of the 
Pension Board by briefly recording the preliminary work 
which led to the enactment by the Trustees of the present 
Rules and Regulations establishing a Pension Fund for the 
American Museum of Natural History. 
Several years before the adoption of the present Pension 
System, the necessity of such or similar provisions for a 
retirement plan had been suggested by President Osborn 
and had so appealed to the Board of Trustees that a com- 
mittee was appointed to make investigations tending to the 
incorporation in the rules of the Museum of some equitable 
retirement scheme. For various reasons there were no im- 
mediate results so far as the formation of a practical system 
was concerned, but the investigations of the committee 
proved so conclusively to the Board of Trustees that a 
method of retirement was essential to the best interests 
of the Corporation that Mr. Archer M. Huntington, after 
listening to the report of the committee, generously donated 
$1,000 as the nucleus of a fund, to be used for such purpose 
upon the acceptance by the Trustees of a practical plan. 
Upon the date of the enactment of these Rules and Regu- 
lations, this fund became available as the capital account. 
In the early part of 1912, President Osborn appointed a 
committee of five employees to investigate the pension 
plans of various companies and corporations and to report 
