HARVARD EXTENDS PENSIONS SYSTEM AMONG EMPLOYEES

In conjunction with the Federal Social Security plan, Harvard has definitely decided to go ahead next month with its proposed pension scheme for all employees, University officials stated last night.

John Wilber Lowes '19, Financial Vice-President, told the CRIMSON that although this was the fact, details have not yet been worked out.

Covers Non-Faculty Men

As projected, the new plan will cover employees who are not officers or Faculty members, the latter group has been operating on a pension platform since 1926.

If it follows the Faculty system, the new plan will probably mean that employees on the payroll who have annual incomes below $2000 shall contribute about two to five percent monthly on their salaries towards a fund realizable on retirement in the 60's. In the event of death, the money goes to the employee's family.

Mr. Lowes' statement reads:

"Officials of the University have been considering for two years a pension plan for employees other than the officers of instruction, research, and administration. No details, however, have been decided upon as yet, and the date for putting the plan into operation has not been picked."

Traveler Breaks Story

Local newspapers have been working on the story of payments for retired Harvard men in the lower brackets for approximately two years, or the length of time that the plan has been under consideration.

The story broke in the Traveler last night. University Hall surmised that the metropolitan press had picked up a tip from a Boston insurance broker, since Mr. Lowes' statement forms the first official word on the subject.