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From President Conant on down, from Cambridge to South Africa, members of the University staff are being offered the chance to sign for newly-extended Social Security benefits.
Thousands of letters went out yesterday to all employees urging endorsement of University-wide Social Security, as the Personnel Office opened its drive to obtain the approval necessary for adoption of the measure.
To come under Social Security, an institution must get the consent of two-thirds of its employees. The Old Age and Survival portion of the act was extended last summer to cover employees of such non-profit organizations as universities and colleges.
John W. Teele, director of personnel, stated yesterday that he hoped to obtain the more than 4,000 necessary signatures before January 1 "so that the greatest number will benefit." Before an employee qualifies for benefits he must have continuous coverage during one half the number of quarters from January 1 to his retirement or death, with a minimum of at least six quarters of coverage.
Teele stated that the University will defer retirements of employees who wish to continue working in order to become eligible under the Act. Retired employees benefitting from Social Security will receive reduced contributions from the University's Retirement Plan, but the new benefits would favorably offset such reductions.
If the necessary approval is obtained, one and one half percent of the signers' pay will be deducted and paid to the government, along with an equal amount from the University. No one who fails to sign up in the present campaign can over obtain coverage while employed by the University.
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