The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1904-12-17

I've. II is NOT cIalned tnat IneSe ugufeS
are absolutely correct, but that these fig
ures are absolutely correct, but that they
are very near So and the intention is to
emphasize the fact that ratio of fifty
paying teachers to one annuitant must
be kept up to maintain the fund, con-
Quoted as it now is, on anything like a
permanent basis.
1t is furthermore pointed out that the
| average age at which annuities are asked
is ffty-eight years, and that the average
length of time the present annuitants
have taught is thirty-two years.
According to the reports, there are 443
teachers in the State who have taught
| twenty-five years or longer, and $40 who
have taught twenty or more years. 1t is
fair to assume, it is claimed. that one
| half, or 506, are members of the fund,
and, under the law, are entitled to PEN
sion equal to one-half of their salary
| should their health give way. From this
Int is claimed, it is evident, that it will not
be long before the fund will have to face
| business proposition which, it is be-
| lieyed, cannot be commercially handled.
| In further support of this it is shown
! that in 1898 there were ,231 in the fund,
and last year the number of members
was 3,673. In 1898 the ratio was one
aDnuitant to every 31S members, while
| last year that ratio had become one an
nuitant to sixty-two members. Atten-
tion is also called tosthe fact that with
one or two exceptions the present an
nuitants have drawn out much more than
| they put into the fund.
For example, the first annuitant paid
in only 1923, and up to June 30, 1903,
had drawn out $1,292. rs. Another who
contributed only $50, drew out ST.
072.77, while a third, whose dues paid in
amounted to S5T 80. had been paid out of
the fund S1,11366.
1t was recently stated that the fund
could not pay the annuities of the twen-
ty-one teachers who were entitled to
them. This was erroneous because, al
though the twenty-one have made appli-
cation for the annuities, they have not as
yet been declared entitled to them by the
board of trustees, as provided for in the
act.
the Hoboken Training School, is the gem
eral secretary of the fund, and one of the
most ardent defenders of the present
plan of conducting it. She takes issue
with the critics of the management of
the fund and declares that instead of be-
ing insolvent it is in very good condition.
When spoken to about the reflections up
on the solvency of the fund, she said
'sThis is all news to me. 1t is the first
time have heard Of it, The executive
| committee of the State Teachers Asso-
citation had meeting recently in New
York, but have been informed by MEM
bers of the committee that the retiring
| fund was not even mentioned"
4 ~ Ia
real condition of the fund, Miss Allen
| said
Il consider the fund in a very good
condition, and we carry all the annuities
we can and retire teachers as fast as we
can. There is considerable activity
throughout the State in efforts to increase
| the permanent endowment fund There
have been several meetings of teachers
for that purpose and for the increase of
the current annuity fund. Orange has
realized $500 or $500 at fair. and the
town Of Union is to have concert. and
several events are being arranged for in
Bergen County"
Miss Allen was also asked if the fund
had ever refused an applicant for retire
ment who had fulfilled all the require
ments Of the law.
Well" she replied refectively, ssyou
know, we cannot go recklessly at work in
this matter and retire every one mIlo re-
quests it. Our funds would not stand
it."