Nassau Notes
Arts
Dance at McCarter
Bridget Breiner and Robert
Tewsley will perform "Kazimir's Colours" when they appear
with the Stuttgart Ballet at 8:00 pm on January 10
and 11 at McCarter Theatre. (Photo by Leslie
Spatt)
University Concerts
Cellist David Finckel (l) and
pianist Wu Han will perform at 8:00 pm on January 13
in Richardson Auditorium, Alexander. (Photo by Christian
Steiner)
Second Stage OnStage
McCarter Theatre will present
three plays written and directed by Doug Wright from
January 13 to January 30.
Jazz
Trombonist Steve Turré
and his ensemble Sanctified Shells will appear at 8:00 pm on
January 15 in Richardson Auditorium, Alexander
Hall.
Notices
Nursery hosts open house
The University League Nursery
School, at 171 Broadmead, which offers programs for children
two and a half, three and four years old, will host an open
house from 10:00 am to noon on January 22.
For information call 924-3137.
Dean seeks teaching award
nominations
The Dean of the Faculty Office
asks all members of the University community to send letters
of nomination for the 2000 President's Award for
Distinguished Teaching to 302 Nassau Hall by Februry
15.
Eligible for nomination are all current
full, associate and assistant professors; lecturers on
continuing appointment; senior lecturers; and lecturers who
have served at least three years half-time.
Speakers
PPL offers Science on Saturday
The Plasma Physics Lab's Science on Saturday program
begins on January 15 with a lecture by George Chaikin
from City University of New York on "Art, Geometry and
Thought: Computer Graphics and Artificial Intelligence." All
lectures in the series begin at 9:30 am in Gottlieb
Auditorium on the Forrestal Campus. The program is geared
toward high school students but open to all.
Other events in the series:
January 29. "Mathematics and Art" (Jhane Barnes of Jhane
Barnes Inc.);
February 5. "The Oldest Photons in the Universe:
Measuring Cosmic Fingerprints"(Suzanne Staggs);
February 12. "The Virtual Juggler" (Benjamin Vigoda,
Massachusetts Institute of Technology);
February 19. "Physics and the Dancer: A Fertile Dialogue"
(Kenneth Laws, Dickinson College);
March 4. "Voodoo Science: How Strange Is the Universe?"
(Robert Park, American Physical Society); and
March 11. "New Frontiers in Plate Tectonics" (Laurel
Goodell).
The lectures are free. Registration is on site before
each session. For information call 243-2121.
HR news
HR notes changes in benefits
Two changes in benefits for
University employees have been announced by Human Resources:
Metropolitan Life Insurance Co. has become Princeton's
long-term disability carrier, and TIAA-CREF has imposed
tranfer limits in some annuity contracts.
New long-term disability carrier
Effective January 1, the University's
long-term disability insurance carrier changed from UNUM to
Metropolitan Life Insurance Co. No major plan provisions are
affected as a result of this change. Benefits will continue
to be provided by UNUM for people disabled from 7/1/93
through 12/31/99 and by TIAA-CREF for those disabled before
7/1/93.
The University provides long-term
disability insurance to eligible employees after one year of
service. This insurance provides a benefit equal to 60
percent of basic monthly earnings up to a maximum benefit of
$10,000 per month. This benefit is adjusted accordingly
based on other sources of income and disability
earnings.
Questions can be directed to Human
Resources and 258-3301.
TIAA-CREF transfer limits
TIAA-CREF, administrator of the
Princeton University Retirement Plan and the Tax Deferred
Annuity Plan, has recently imposed transfer limits in some
annuity contracts. This is a result of a high level of
transfer activity, because frequent transfers undermine the
company's long term investment strategy and affect
TIAA-CREF's ability to maintain low expenses.
Those with a high level of transfer
activity will receive notification directly from TIAA-CREF.
From that point on, four or more transfers into and out of
the same account (except the CREF Money Market Account)
within the same calendar month will result in a suspension
of the ability to make accumulation transfers by telephone,
fax or Internet. Transfer requests made in writing to
TIAA-CREF's home office (730 Third Ave., New York NY 10017)
will continue to be accepted.
Questions about this new policy should be
directed to TIAA-CREF's Telephone Counseling Center at (800)
842-2776.
ERISA Information
Retirement Plan
This is a summary of the annual
report for the Princeton University Retirement Plan,
Employer Identification No. 21-0634501, for the plan year
beginning January 1, 1998 and ending December 31, 1998. The
annual report has been filed with the Internal Revenue
Service, as required under the Employee Retirement Income
Security Act of 1974 (ERISA).
Basic financial statement.
Benefits under the plan are provided through insurance.
Plan expenses were $7,464,407. These expenses included
$7,464,407 in benefits paid to participants and
beneficiaries. A total of 4,282 persons were participants in
or beneficiaries of the plan at the end of the plan year,
although not all of these persons had yet earned the right
to receive benefits.
The value of the plan assets, after
subtracting liabilities of the plan, was $111,989,581 as of
January 1, 1998. During the plan year the plan experienced
an increase in its net assets of $32,503,933. This increase
includes unrealized appreciation or depreciation in the
value of plan assets; that is, the difference between the
value of the plan's assets at the end of the year and the
value of the assets at the beginning of the year or the cost
of assets acquired during the year. The plan had a total
income of $39,968,340 including employer contributions of
$22,321,001 and earnings from investments of
$17,647,339.
The plan has a contract with Teachers'
Insurance and Annuity Association College Retirement
Equities Fund which allocates funds toward group deferred
annuities. The total premiums paid for the plan year ending
December 31, 1998 were $6,157,419.
Minimum funding standards. Enough
money was contributed to the plan to keep it funded in
accordance with the minimum funding standards of ERISA.
Your rights to additional information
You have the right to receive a copy
of the full annual report, or any part thereof of the plans
noted above, on request. The items listed below are included
in that report: (1) an accountant's report; (2) assets held
for investment; (3) transactions in excess of 5 percent of
plan assets; and (4) insurance information including sales
commissions paid by insurance carriers.
To obtain a copy of the full annual
report or any part thereof, write or call Trtustees of
Princeton University Office of Human Resources, Clio Hall,
Princeton University, Princeton, NJ 08544-5264 (609)
258-4479.
You also have the right to receive from
the plan administrator, on request and at no charge, a
statement of the assets and liabilities of the plan and
accompanying notes, or a statement of income and expenses of
the plan and accompanying notes, or both. If you request a
copy of the full annual report from the plan administrator,
these two statements and accompanying notes will be included
as part of that report.
You also have the legally protected right
to examine the annual report at the main office of the plan
(Trustees of Princeton University, Office of Human
Resources, Clio Hall, Princeton University, Princeton NJ
08544-5264) and at the US Department of Labor in Washington,
DC, or to obtain a copy from the Department of Labor upon
payment of copying costs.
Requests to the department should be
addressed to: Public Disclosure Room, N-5638, Pension and
Welfare Benefit Administration, US Dept. of Labor, 200
Constitution Ave., N.W., Washington, DC 20210.
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