diff --git a/collects/racket/dict.rkt b/collects/racket/dict.rkt
index 19a4359e4d..862276229c 100644
--- a/collects/racket/dict.rkt
+++ b/collects/racket/dict.rkt
@@ -10,6 +10,7 @@
          dict-can-functional-set?
          
          dict-ref
+         dict-ref!
          dict-set!
          dict-set*!
          dict-set
@@ -230,6 +231,15 @@
      [else
       (raise-type-error 'dict-ref "dict" 0 d key default)])]))
 
+(define (dict-ref! d key new)
+  (define not-there (gensym))
+  (define v (dict-ref d key not-there))
+  (if (eq? not-there v)
+      (let ([n (if (procedure? new) (new) new)])
+        (dict-set! d key n)
+        n)
+      v))
+
 (define (dict-set! d key val)
   (cond
    [(hash? d) (hash-set! d key val)]
diff --git a/collects/scribblings/reference/dicts.scrbl b/collects/scribblings/reference/dicts.scrbl
index 49535a35d2..a488ad0663 100644
--- a/collects/scribblings/reference/dicts.scrbl
+++ b/collects/scribblings/reference/dicts.scrbl
@@ -212,7 +212,27 @@ result:
 (dict-ref #("apple" "banana") -3 #f)
 ]}
 
+@defproc[(dict-ref! [dict dict?]
+                    [key any/c]
+                    [to-set any/c])
+         any]{
 
+Returns the value for @scheme[key] in @scheme[dict]. If no value
+is found for @scheme[key], then @scheme[to-set] determines the
+result as in @scheme[dict-ref] (i.e., it is either a thunk that computes a value
+or a plain value), and this result is stored in @scheme[dict] for the
+@scheme[key].  (Note that if @scheme[to-set] is a thunk, it is not
+invoked in tail position.)
+
+@examples[
+#:eval dict-eval
+(dict-ref! (make-hasheq '((a . "apple") (b . "beer"))) 'a)
+(dict-ref! (make-hasheq '((a . "apple") (b . "beer"))) 'c 'cabbage)
+(define h (make-hasheq '((a . "apple") (b . "beer"))))
+(dict-ref h 'c)
+(dict-ref! h 'c (λ () 'cabbage))
+(dict-ref h 'c)
+]}
 
 @defproc[(dict-update! [dict (and/c dict? (not/c immutable?))]
                        [key any/c]
diff --git a/collects/tests/racket/dict.rktl b/collects/tests/racket/dict.rktl
index 19fcdd1f90..a449ca8047 100644
--- a/collects/tests/racket/dict.rktl
+++ b/collects/tests/racket/dict.rktl
@@ -49,7 +49,10 @@
         (err/rt-test (dict-remove d 1))
         (err/rt-test (dict-set d 1 "ONE"))
         (test (void) dict-set! d 1 "ONE")
-        (test "ONE" dict-ref d 1))
+        (test "ONE" dict-ref d 1)
+        (test (void) dict-set*! d 1 (gensym) 1 "TWO")
+        (test "TWO" dict-ref d 1)
+        (test "TWO" dict-ref! d 1 (gensym)))
       (let ([cnt (dict-count d)]
             [smaller (if mutable?
                          (begin
@@ -98,6 +101,14 @@
 
 (try-simple (vector 'zero 'one 'two) #t #f #f)
 (try-simple #hash((1 . one) (#f . 7)) #f #t #t)
+
+(let ([d (make-hasheq '((1 . one) (#f . 7)))])
+  (test 'one dict-ref! d 1 (gensym))
+  (test 'two dict-ref! d 2 'two)
+  (test 'two dict-ref d 2)
+  (test 'three dict-ref! d 3 (λ () 'three))
+  (test 'three dict-ref d 3))
+
 (try-simple #hasheq((1 . one) (#f . 7)) #f #t #t)
 (try-simple (hash-copy #hash((1 . one) (#f . 7))) #t #t #f)
 (try-simple (hash-copy #hasheq((1 . one) (#f . 7))) #t #t #f)