August 13, 1991
TO: EMPLOYEES' COMP., BENEFITS & RET. ADV. COMMITTEE NO. 1-91
RE: SCHEDULE OF COMMITTEE ACTIVITY
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By resolution of the Executive Committee dated July 11,
1991 the Employees' Compensation, Benefits and Retirement
Advisory Committee has been established. The following persons
under the terms of the resolution, constitute the membership of
the committee:
James S. Riepe - Chairman
John F. Cogan, Jr.
Thomas R. Powers
Under the terms of the resolution, the duties of the Employees'
Retirement Advisory Committee are transferred to the new
committee and the former committee is disestablished.
Attached for your information are the relevant extracts
from the Institute's retirement plans describing the responsi-
bilities assigned to the committee.
The first formal meeting of the Employees' Compensation,
Benefits and Retirement Advisory Committee will be held at the
Institute at 11:00 am on Wednesday, October 2, 1991, just prior
to the regularly scheduled Executive Committee and Board
meetings. The purpose of the meeting will be to formulate
recommendations to the Executive Committee regarding staff
salary increases, bonuses, benefits, and retirement arrangements
that are to be embodied in the Institute's budget for FY 1991-
1992 which will be under final review by the Executive Committee
that afternoon. Matt Fink will be forwarding his salary and
bonus recommendations to members of the committee on September 25
so that we will have an opportunity to discuss them by phone.
James S. Riepe
Chairman
Board of Governors
Attachment