SPECIFIC PROPOSAL

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP73B00296R000500220003-9
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 7
• Document Creation Date: December 20, 2016
• Document Release Date: August 24, 2005
• Sequence Number: 3
• Publication Date: October 1, 1968
• Content Type: REQ

,Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
 Approved For Release 2006/10/20: CIA-RDP73B00296R00Q500220003-9
SPECIFIC PROPOSAL
1. That CIA sponsor the establishment of a voluntary employee
savings and investment program as a supplement to the Agency's basic
retirement program - the investment of contributed employee funds to be
accomplished through a pension trust qualified by the Internal Revenue
Service for exemption from Federal income taxes.
2. That the voluntary savings and investment program be adminis-
tratively supported by CIA as an integral part of Agency personnel and
financial operations (payroll deductions, reports to participating employees,
administrative and technical direction and supervision).
3. That a task force be established to develop by 30 June 1969 a
comprehensive, actionable proposal:
a. acceptable to the Internal Revenue Service;
b. providing joint CIA employee-CIA management control
and supervision of the activity;
c. containing specific and alternative recommendations as
to the investment media initially deemed most appropriate for the
investment and management of the trust funds.
Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
 Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
 Approved For Release 2006/10/2,x: CIA-RDP73B00296R000500220003-9
'A Off-14C " M S T 0 C K
PLAN
RETIREMEN
October 1968
VOLUNTARY SAVINGS PLAN
The TAKE STOCK Plan is two years old. At the end of September, 2,652
members were having deductions made--1,934 for Fidelity Trend, 48 for
Puritan, and 670 for both funds.
RESULTS--end of 24 months if you had put $5 a payday in each fund:
Fidelity 8.674 shares purchased
Trend .670 shares added without cost from dividends and
capital gains distributions
9.344 shares credited
$260.00 put in @ $5 per pay period for 52 paydays
$297.98 value of 9.344 shares at bid price 9-30-68. . . $31.89
14.6% increase over 24-month period
bid price of first purchase on 10-10-66 . . . _$23.26
Puritan 23.493 shares purchased
2,359 shares added without cost from dividends
and capital gains distributions
25.852 shares credited
$260.00 put in @ $5 per pay period for 52 paydays
$306.09 value of 25.852 shares at bid price 9-30-68 $11.84
17.7% increase over 24-month period
bid price of first purchase on 10-10-66 . . . . $8.75
Comparison of Fixed and Variable Funds
as of 9/30/68
(If $100 a month had gone into both funds
starting in the months shown.)
'68
$1.603
'63'$1.086
'67
1.517
'62 .862
'66
1.192
'61 1.142
.'65
1.300
'60 .936
'64
1.215
'59 1.012
Variable Annuity
Unit Value on Sep 30
$ value
and average 7
of
No
Startin
Dollars
of growth per year
.
g
months
d
ut in
Fixed fund Variable fund
ate
p
Jan
'65
45
$ 4,500
$ 4,841
4%
$ 5,689
12.97
Jan
'62
81
8,100
9,261
4
12,339
12.5
Jan
'59
117
11,700
14,232
4
19,892
10.6
Supervisors:
--~ "PS CIRCULA
Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
 Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
 Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
Case Histories Based on
Participation in Variable Annuity Fund
RETIREMEN aj
Retiree Retiree Survivor Retiree Retiree
Age 65 Age 63 Age 61 Age 65 Age 60
46.88 units 81.07 units,94.74 units 158.01 units 204.17 units,
Annuity with same
$'a in fixed fund
52.47
94.00
101.83
$186.42
Variable Annuity:
Month--Unit Value
Before 1966
25-mo. avg..
$1.223
$57.33
1:17-mo. avg.
1.255?
$101.74
10-mo. avg. '
1.283
6--mo. avg.
1.288
$122.03
1st mo.
1.362
$215.21
1966
12-mo. avg.
1.313
61.55
106.44
124.39
207.47
1967
12-mo. avg.
1. 444
67'.69
??
117.07 ?
136.80
228.17
3-mo. avg.
1.518
1968
Jan
1.539
72.15
124.77
145.80
243.18
Feb
1.437
67.37
116.50
136.14
227.06
Mar
1.398
65.54
113.34
132.45
220.90
Apr
1.425
66.80
115.52
135.00
225.16
May
1.517
71.12
122.98
143.72
239.70
June
1.580
74.07
1.28.09
149.69
249.66
July
1.571
73.65
127.36
148.84.
248.23
Aug
1.516
71.07
122.90
143.63
239.54
Sep
1.560
73.13 .
126.47
3.47.79
246.50
$245.32
309.93
314.22
293.39
285.43
290.94
309.73
322.59
320.75
309.52
318.51
POST ON BULLETIN BOARDS 10 DAYS
In addition to dollars from variable annuity units, you or your survivor will have
income from: (a) 1'VA's contributions to the Retirement System, (b) contributions
the member has in the fixed annuity fund, (c) any monies invested in the TAKE' STOC Plan, and (d) Social Security.
Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
 Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9
Approved For Release 2006/10/20: CIA-RDP73B00296R000500220003-9