The university puts a contractually specified percentage of faculty salary into TIAA-CREF (Teacher's Insurance Annuity Association/College Retirement Equity Fund) on a quarterly basis for as long as they're employed by the College. Each faculty's TIAA-CREF retirement fund belongs to them.<br>
<br>Bob<br><br><div class="gmail_quote">On Mon, Mar 31, 2008 at 7:50 PM, <<a href="mailto:Cdelairre@aol.com">Cdelairre@aol.com</a>> wrote:<br><blockquote class="gmail_quote" style="border-left: 1px solid rgb(204, 204, 204); margin: 0pt 0pt 0pt 0.8ex; padding-left: 1ex;">
<div style="font-size: 10pt; color: rgb(0, 0, 0); font-family: Arial;"><font color="#000000" face="Arial" size="2">
<div>Distribution:</div>
<div> </div>
<div>Does anyone know what the "pension reserve" amount is on the Colleges
balance sheet? I am refering specifically to the amount of money that has been
set aside to meet retirement obligations for tenured faculty. If the
tenure agreements include a pension, then there must be a pension fund. What
happens to this money (if it exists) under the plan proposed by the AUBOT after
4 years? Is this money worked into their revitalization plan for capital
improvements instead of pensions to tenured faculty? Has it already been spent?
or, Has it ever been funded? How deep does this rabbit hole actually go? Lastly,
How is this fund worked into the sale of assets? Is AC3 purchasing assets of the
University? or Is AC3 purchasing a going concern, which includes all balance
sheet assets/liabilities?</div>
<div> </div>
<div>Cross De Lairre</div></font><br><br><br><div><font style="color: black; font-family: ARIAL,SAN-SERIF; font-style: normal; font-variant: normal; font-weight: normal; font-size: 10pt; line-height: normal; font-size-adjust: none;"><hr style="margin-top: 10px;">
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