LehighWeek Volume 06, Issue 26

              Voi.6,issue26 with   SOUTH    MOUNTAINEER
Lehigh University, Bethlehem, Pa.
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RING AROUND
THE TOWER. . .
the lofty goal of
the Lehigh University Ring Toss
designed by members of Sculpture
1. Tempted by the
prize offerings
and evaluating
his skills in mechanical engineering, grad student Ray Burynski considers taking part in
the event and reads the rules of the game. Photos by Bruce winter.
LEHIGH Snapshots
Lehigh facts you might not know
New M.S. in Management of Technology
By Roger Clow, Lehigh Writers' Group
Beginning this fall, the College of Business and Economics will offer a new master's degree program
in "Management of Technology" (MOT;. The program is designed to equip experienced scientists and
engineers to take on increasing general management roles in technology-intensive industries.
"It's a niche program that takes technical specialists ready to become project managers and
prepares them for general management and eventually to play a role in deciding our technological
future," says MOT Program Director Al Bean, the Kenan Professor of management and technology
and director of Lehigh's Center for Innovation Management Studies.
The program will serve the needs of firms that recruit many employees with bachelor's degrees
in science or engineering, maintain their own research and development laboratories and produce
a high percentage of their sales
revenues each year from products
that incorporate recent technological advances.
CBE Dean Jim Schmotter
says, "Unlike MBA education,
MOT fills a clearly defined industry need and is a real move forward in graduate management
education. It is not just another
brand of pet food." Schmotter feels
MBA education has become—like
pet food — a commodity.
"MBA progams are largely
undifferentiated. The market for
MBA education is mature, andboth
students and industry are showing less interest in it," says the
former associate dean of Cornell
University's Johnson Graduate
School of Management and past
chairman of the Graduate Management Admission Council.
"Two straight years of sharp
declines in the number of people
taking the Graduate Management
Highlights of new retirement plan:
•Available to all faculty, exempt and non-exempt staff who are in positions funded by Lehigh
•Must be 58 years of age and have completed at
least 10 years of continuous service at 75
percent effort by June 30,1995.
•Will pay 12-24 months of salary and benefits
•Must decide to participate by Aug. 31,1993
•May begin retirement between Sept. 1993 and
June 30, 1995.
Where Does Your
The operation expenditure
distribution by Function Areas for 1992-93.
Academic
Financial Aid
Auxiliary Enterprise
Physical Plant
Student Affairs
Financial-
Administration
Development &
University Relations
Appropriation
General & Alumni
Association
.51
.16
.14
.07
.06
.02
.02
.01
.01
$1.00
Source: GAP Board
By: CHRISTY D. JOY
continued on page 4
New Retirement Plan
Announced
by Rita Malone, Lehigh Writers' Group
A new voluntary special retirement program has been developed
in an effort to reduce the number of faculty and staff at Lehigh. To
qualify for the plan, employees must be at least 58 years of age and
have at least 10 years of continuous service at 75 percent or more
of effort by June 30,1995. The plan is open to faculty, exempt and
non-exempt staff who are in Lehigh-funded positions, except for
research scientists, technical associates and research coordinators who are not funded by the University.
About 200 employees qualify for the plan, and the hope is that
about 75 to 100 people will accept the offer.
"The comprehensive strategic plan for Lehigh currently being-
developed includes some reductions in the workforce over the next
three years," said John W. Woltjen, vice president for administration and treasurer. "Salaries and benefits are the largest part
of the university's budget. It's clear we must reduce our payroll
costs to make significant savings in the budget in order to slow the
growth in Lehigh's tuition. A voluntary special retirement plan is
a more compassionate way to reduce our workforce than layoffs."
If roughly half of those who are eligible accept the offer, Lehigh
could save over $5 million annually down the road.
Details of the plan were mailed May 14 to individuals who
qualify. The plan will pay one year of salary and benefits for those
with ten years of service, plus one additional month for each year
of service over ten, to a maximum total of 24 months. The salary
will be paid out on a monthly basis over the-eligible months.
Eligible employees must decide by this August 31 if they will
accept the plan. Individuals can elect to begin participating in the
program any month between Sept. 1993 and June 1995, provided
they meet the age and service criteria by that month.
Open meetings with Treasurer John Woltjen and representatives from human resources will be held May 26-28 for employees
eligible for the plan. Representatives from TIAA will be on campus
June 2-4 to answer questions on payout amounts for individuals
enrolled in TIAA/CREF. Employees with questions about the new
retirement plan should call Edward Maclosky (85194) or Toni
Lee Febbo (83896) in human resources or John Woltjen (83178)
in the treasurer's office.
Instead of the new special retirement plan, faculty members
may still choose to accept the University's existing faculty early
retirement plan for those who are at least age 60 and have
completed at least 15 years of full-time continuous service.
Compensation under the existing faculty plan is determined on
an individual basis. It is based upon the difference between the
average salary of full professors and the average salary of assistant professors. This differential is then adjusted by a factor based
upon the age of the retiring professor, and his or her salary level
compared to the average full professor salary. Faculty should
review both plans to select the early retirement option that is best
for them.
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