Chart, showing inability of the Carnegie Foundation to meet expectations under the free pension plan.
Abstract
For the first few years of the CFAT's existence, its principal function was in selecting eligible institutions and establishing rules for receiving retirement allowances. The resulting financial obligations ended up being greatly in excess of CFAT resources, and were only fulfilled by 1973, after spending over 6 million dollars of CFAT endowment and a 15 million dollar loan from the Carnegie Corpo ration of New York.
