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Voi.6,issue26 with SOUTH MOUNTAINEER Lehigh University, Bethlehem, Pa. LEHIGHWEEK Next issue June 2 Athletic Awards See South Mountaineer pages 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. LehighWeek Department of University Relation! 405 Linderman Library 30 Library Drive Bethlehem, Pennsylvania 18015-306 MARIE C. BOLTZ UNIVERSITY LIBRARIES RM.306 LINDERMAN LI8RARY NO.030 NON-PROFIT U.S. Postage Paid Permit No. 230 Bethlehem, Pa. 18015
Object Description
Title | LehighWeek Volume 06, Issue 26 |
Subject | Lehigh University--Periodicals |
Description | Reports on the past week's news, and schedules of upcoming events, at Lehigh University. Thirty issues yearly, published weekly, except for vacations, during the school year, and once or twice a month during the summer. |
Creator | Lehigh University. Dept. of University Relations. |
Publisher | Lehigh University |
Date | 1993-05-18 |
Type | Text |
Format | newsletters |
File Format | image/tiff |
Extent | 12 pages |
Dimensions | 38 cm. x 28 cm. |
Identifier | SC LSer L522 V6 N26 |
Language | Eng |
Rights | http://rightsstatements.org/vocab/InC/1.0/ |
Catalog Record | https://asa.lib.lehigh.edu/Record/304229 |
Description
Title | [Front cover] |
Identifier | SC LSer L522 V6 N26 001 |
Language | Eng |
Rights | http://rightsstatements.org/vocab/InC/1.0/ |
Catalog Record | https://asa.lib.lehigh.edu/Record/304229 |
Full Text | Voi.6,issue26 with SOUTH MOUNTAINEER Lehigh University, Bethlehem, Pa. LEHIGHWEEK Next issue June 2 Athletic Awards See South Mountaineer pages 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. LehighWeek Department of University Relation! 405 Linderman Library 30 Library Drive Bethlehem, Pennsylvania 18015-306 MARIE C. BOLTZ UNIVERSITY LIBRARIES RM.306 LINDERMAN LI8RARY NO.030 NON-PROFIT U.S. Postage Paid Permit No. 230 Bethlehem, Pa. 18015 |
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