Asked if the new Lampoon should reach out to old contributors, Mr. Simmons said: "I don't think they have anything to offer.
Mads oldest regular contributor, Jaffee's work has appeared in over 450 issues of the magazine, a total unmatched by any other writer or artist.
John Bloom of McCowan Associates of Manhattan described himself as "an old man and an old contributor."
Then Mr. Thompson, 51, added three unpaid contributors, all older than 55 with newspaper backgrounds.
In 2010, the magazine's oldest and longest-running contributor, Al Jaffee, told an interviewer, "Mad was designed to corrupt the minds of children.
The state subsidized older contributors.
I asked one of its old contributors, whether it had once been abler than it is now?
It focuses on making it simpler for new contributors to participate and reducing dependency on older contributors.
The fund will grow as the older contributors continue their payments.
At the time that he first began working for Punch he was one of its oldest contributors.