The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-09
FIREMEN's PENSION FUND.
Belief that City Controller Should
Have Charge of II.


Have Charge of 1t.
The firemen's pension fund has never been
self-sustaining, but it is claimed that it will
be this year, providing no unexpected emer-
gencies arise requiring disabled 1remen to
be retired on the fund. Fire Chief Barrett,
who is ex officio a member of the board
of pension trustees, says that the income
for the last year was about $7,100, including
$4,000 from the annual ball, with contribu-
tons, $500 interest on the permanent fund
invested in per cent city Improvement
bonds and 81, 800 assessments on the pay of
the flremen. The expenditures were about
So 400, an amount 81 800 in excess of the in
come, so that money that ought to have
gone into the permanent fund had to be
encroached on to that extent. This year,
however, Mr.. Barrett says, the income will
be materially increased. The tax duplicate
has been much enlarged. Under the law
one-tenth of one mill on the dollar of the
taxable property of the city goes into the
pension fund. The revenue from taxes will
be considerably larger than last year. Then
the fire force has been enlarged and the /
per cent. assessment on the pay roll will
swell the income from this source. Besides
this five firemen who had been on the dis
ability list and were drawing 500 month
eacn nave Deen examined recently ana or
dered back to work. This means that the
expenditures will be reduced $1,000 this year
from what they were last. With the ex-
pendtureS reduced to S., 400 and the income
the same as 1t was last year, 81, 100. instead
of drawing on the principal the excess of
receipts over expenditures would be 81, 200.
This would go into the permanent fund and
help recoup what has already been over
drawn. Still, as the fund has never been
self-sustaining it will be some time If ever
before the amount that has been drawn from
the general fund will be replaced. Nor does
are five men on the force who could to-
morrow demand to be retired to the PEN
sion fund, as they have served more than
twenty-five years in the department. With
We're left five men totally disabled, beside
which pensions at the rate OF SD month
are paid to five widows and to seventeen
minors at the rate of SO a month each until
they are sixteen years OF age When the
widows remarry their pensions cease.
The pension fund is controlled by trustees
elected by the firemen of the various de-
partmentS. The mayor and fire chief are
ex officio members of the board. The city
controller, VINO has charge of all other city
pension fund. Mr., Johnson says that he
has often thought II would be better If this
fund were under the same control that other
moneys are. The pension fund and its
management are entirely separate and In
dependent or the general city adminstra-
ton. There are a number who are advocat-
Ing that the law be amended so as to place
the fund under the control OF the financial
department of the city, If not abolished en-
tirely. The pension law has been in force
that after this year the fund will be self
supporting. that Is taking into account the
proceeds of the annual bali and donations
that are received. The receipts Of the ball