The San Francisco call., 1897-03-31
NEW ERA FOR
SCHOOL TEACHERS
Significance of the Annuity
Fund Bill Just
Signed.
Means the Virtual Financial
Independence of Instructors
for Life.
General Meeting of the Teachers of
the City Called for Friday
Afternoon.

In signing the teachers annuity fund
bill Governor Budd has earned the graft
rude of nearly every teacher in the State.
Under the new law it is compulsory for
all teachers in San Francisco, appoin ted
after the passage OF the bill, to become a
member of the annuity association, but it
is still left to the choice of teachers in the
in terror to join or not.
Each mem ber will be required to con-
tribute 81 month, and having served a
period OF thirty years will be allowed to
retire with an annuity of $500, or $50
month. In the interior the annuity will
be $3.50, or $50 a month. Night-school
teachers, whose salaries are much less
than those who teach in the day, will be
required TO contribute but so cents
month. and will be entitled to $25 month
as a pension after thirty years service.
1t is believed that about ten teachers
now in harness will ask to be retired and
that their requests will be granted. Most
OF them are more than seventy years of
age. About thirty teachers in this City
are qualified to retire.
Teachers who become disabled before
they have served thirty years will be al
lowed such proportion of the $50 a month
as the time OF their service bears to thirty
years.
In addition 10 the monthly contribu-
tions of the teachers, the fund will be aug
mented from the ''absence" money of
| teachers. For each day regular teacher
tails TO report for duty he is fined one
twentieth of his months pay, and half of
this fine will go into the annuity fund.
The revenue from this source will be about
$500 year. 1t is also expected that ad-
ditlons will be made to the fund through
legacies and donations.
1t is expected that the Denman medal
fund of $4,000 and the Bridge medal fund
OF $4,000 will be made part of the annuity
fund. as they are no longer used for their
original purpose. owing to the fact that
the awarding Of medals to pupils engen-
dered jealousy and il-feeling.
There is now in the fund, which was
started only two years ago, about $4,000.
twenty-five per cent of all receipts are to
be placed in a sinking fund until such
fund reaches $50 This viii! be done
to protect the interests of the younger
teachers. Should the available fund for
| the payment of annuiries be inadequate
to meet demands at any time the avail
able amount will be apportioned pro rata
among the annuitants. but such a contre-
temps is not anticipated.
All teachers who retire must pay into
the annuity fund an amount equal in the
aggregate to the amount that they would
have contributed in thirty years. namely,
| $3.50.
| Superintendent Webster yesterday
issued notice calling for general meet
ing OF all the teachers in this City, to be
held at the Girls High School. on the
corner of Geary and Scott streets, al
| o'clock Friday afternoon. At this meet
| ing the new law will be explained and
discus ed. and all who desire will be
given an opportunity to join the Teachers
Annuity Fund Association of San Fran
cisco. A thousand copies of the bill will
be distributed on that occasion.
JEwELRy store. 81 Third removed to so3