Page Four 



pound, instciid of simple intcicst. As yet it is not certain 

 whether it would l)e practiciil^le to offei* g;i'oup insurance 

 privile^(\^ to all Museum employees, oi- whether it could be 

 undertaken only with Pension Fund members. The matter, 

 also, of the (Corporation's pait in the projected undertaking 

 has not been worked out. It is possible that the Trustees 

 of the Museum might contribute one-half of the group insur- 

 ance premium, just as they at present contribute to the Pen- 

 sion Fund amounts equal to the employees' contributions. 



Before proceeding further with their investigations, how- 

 ever, the members of the Connnittee would like to have the 

 employees made acquainted with the sahent features of a 

 group insurance plan as it might be adapted to Museum con- 

 ditions. For this purpose, and in order to learn the a titude 

 of the employees in the matter, a biief discussion, ba^ed on 

 the findings of the Conmiittee, is given heie. 



It should be made clear, in the beginr.ing, that the group 

 insurance project is being corisideied puiely for the sake of 

 the unusual advantages which it promises our emploj^ees, 

 and not to reduce Pension Fund liabilities. The Pens- ion 

 Fund continues on a thoroughly secure basis, and is not only 

 meeting with ease all its obligation^, but is building up a 

 gratifying investment account. The group insurance 

 question, therefore, may be considered stricth' on its own 

 merits. 



According to the Insurance Commissioner's definition, 

 incorporated in the Laws of New York State, group life in- 

 surance is "that form of Life Insurance coveiing not less 

 than 50 employees with or without medical examination, 

 written under a polic}^ issued to the employer, the prennum 

 on which is to be paid by the employer or by the emploj^er 

 and employee jointly, and insuiing only all of his employees 



