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SMITHSONIAN INSTITUTION  1246

against retirement under the Smithsonian plan.

The Secretary recommended that the Board approve in principle the use of the money now in the Smithsonian Retirement Fund for this purpose and that the Secretary be authorized to work out necessary plans for carrying it into effect, with the approval of the Executive Committee.

This action would close out the Smithsonian Retirement plan with the exception of 8 employees now retired and receiving payment under the plan, amounting to $4,223.16 per annum. Since payments by the Institution into the fund have been at the rate of $9,200 per annum, there would result an immediate saving to the Institution of almost $5,000 per annum, and this would increase until with the demise of the last survivor the entire payments by the Institution would be terminated.

The Chairman asked the Secretary to present the formal resolutions given below:

RESOLVED: That the Board of Regents of the Smithsonian Institution do hereby consent to the officers and members of the Smithsonian Institution paid from trust funds accepting the benefits and privileges of the Federal Retirement System, as well as assuming the obligations and duties legally applicable to them under that system as presently constituted; provided, further,

That the Board of Regents of the Smithsonian Institution does not consent to the application of the Federal Civil Service Laws, nor the Federal Classification Act of 1923, as amended, nor to the application of any other law which would in any way contravene the Act of Establishment of the Smithsonian Institution approved on August 10, 1846, with amendments thereto.

A.W.