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SMITHSONIAN INSTITUTION    1487

purpose of determining the amount of the pension to be granted by the Regents, the annuity referred to herein shall be considered and computed upon a single life annuity basis as provided for under the United States Civil Service Retirement System.

It was also

VOTED that an appropriate time before Dr. Carmichael reaches the age of sixty-five the question of his retirement be again brought to the attention of the Board of Regents. (See Appendix II)

It was indicated in the discussion that sufficient time should be given to the Board of Regents before Dr. Carmichael reaches retirement age, to allow ample opportunity for the Board of Regents to secure the services of his successor. The possibility that Dr. Carmichael might be asked to consider serving beyond the age of sixty-five was also mentioned.

INSTALLATION OF ACTING CHAIRMAN

Upon the return of Secretary Carmichael and his staff, the Chancellor announced that he had to leave for an eleven o'clock meeting. He relinquished the chair to Dr. Robert V. Fleming, Chairman of the Executive Committee, at 10:35 a.m.

NONPUBLIC FUNDS BUDGET FOR THE SMITHSONIAN INSTITUTION FOR THE FISCAL YEAR 1961

Each member had a copy of this budget before him, and specific items were discussed in some detail, particularly the value of the Satellite Tracking Program of the Smithsonian Astrophysical Observatory and the granting to it of funds from various sources. It was pointed out that the Program has been substantially doubled for the coming year; $1,500,000 was granted to it last year, and $3,000,000 has been granted for 1961. The Regents were unanimous in voicing their opinion of the importance of the work in astrophysics