Newspapers / InterCom (Durham, N.C.) / Oct. 1, 1971, edition 1 / Page 1
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M nteucom 6ukc uniycRsity mc6icM ccatcR VOLUME 18, NUMBER 37 OCTOBER 1, 1971 DURHAM, NORTH CAROLINA For Non-Academic Employes Retirement Plan Increased OUTSTAND!NG—lhe%e two girls compiled the most hours of service as candystripers at the Hospital over the summer. Betty Johnson, right, worked 311 volunteer hours, while Robin Massey left, served 300. (staff photo) 82 Junior Volunteers Honored at Dinner Eighty-two candystripers who spent at least part of their summer lending a helping hand at the Hospital were honored at a dinner Sept. 15 at the Holiday Inn Downtown. The junior volunteers, under the direction of Duke's Hospital Auxiliary, gave a total of 6,186 hours during June, July and August. Though candystriping has traditionally been a girl's activity, three young men joined the program this year. The volunteers worked in various clinics at Duke, on several of the patient wards, in the children's playroom, and at the Auxiliary's snack bars. Two Durham teenagers, Betty Johnson and Robin Massey, compiled the most outstanding service records during the summer. Miss Johnson, a junior at Hillside High, gave 311 hours. Miss Massey, a senior at Hillside, was second with 300. Several changes, all resulting in increased benefits, have been made in the University's retirement plan for non-academic employes. The yearly retirement payment will now be based on an employe's "average final" salary, usually an average of his earnings during the five years prior to retirement. In the past, retirement benefits have been calculated from average earnings during the entire period of employment at Duke. The new method of computing benefits will result in larger retirement checks for most employes. In addition, the requirement for early retirement from Duke has been reduced from age 55 with 15 years of credited service to age 45 with 15 years'credited service. A new feature has been added to the retirement policy. If an employe who has completed at least 15 years at Duke should die in active service, a lump sum payment of $250 will be made. The new formula for figuring retirement benefits works like this. The yearly payment is 3/4 of 1 per cent of that part of the average final salary up to $7,800, plus 1 per cent of any average final salary above $7,800, all multiplied by the number of years of credited service at Duke. For example, let's say that John Jones retires at the age of 65 having accumulated 30 years of credited service. His average salary over the last five years was $8,250. Mr. Jones' yearly retirement payment would by 3/4 of 1 per cent of $7,800 ($58.50) plus 1 per cent of $450 ($4.50) all multiplied by 30. This gives him an annual retirement benefit from Duke of $1,890. $58.50-I-$4.50 = $63.00 $63.00 X 30 = $1890.00 In addition, Mr. Jones would be eligible for an estimated $2,400 per year from social security. If his wife is also 65, she would receive an estimated $1,200 per year, making an estimated total retirement income of $5,490 per year. As in the past, the University pays 50 per cent of the cost of the social security program and the entire cost of the non-academic employes retirement plan, which is designed as a supplement to social security. For more information on retirement policies, contact the Medical Center Personnel Office, ext. 3424. Computation Center Offers Free Courses The Duke Computation Center is offering a series of free non-credit courses in computer work this month and next. They include the following: CCI—Basic Introduction to Computer Facilities and Concepts. It will be taught from 4 to 5 p.m. Tuesdays and Thursdays from Oct. 5-14 in Room 108 Physics Building. CC4—Introductory, Fortran for Experienced Programers. Classes will be held from 4 to 5 p.m. Tuesdays and Thursdays from Oct. 5-28 in Room 1 24 Physics Building. CC2—Introductory Programming Using PL/1. This will be taught from 4 to 5 p.m. Tuesdays and Thursdays from Oct. 19 to Nov. 18 in Room 108 Physics Building. For more information and registration forms, contact Ric Blaine at ext. 4009.
InterCom (Durham, N.C.)
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Oct. 1, 1971, edition 1
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