Editorial note: The author is a member of Association Subcommittee on Fringe Benefits. The opinions expressed in this article are authors own; however, he was encouraged to undertake this work by Subcommittee. An early Subcommittee position was articulated in a Report in Summer, 1973, Bulletin on pp. 264-65. An opposite position was taken by Sixtieth Annual Meeting, in support of the principle of equal monthly retirement benefits for women and men faculty:9 (See Summer, 1974, Bulletin, p. 142.) This position was endorsed by Council at its fall, 1974, meeting. (See Spring, 1975, Bulletin, p. 21.) It is further pressed in correspondence from President William Van Alstyne to Secretary of Labor John Dunlop and to TIAA-CREF President William Greenough which was published in Winter, 1975, Bulletin, pp. 316-21.