The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-04-20
Three Of the Ten Bills Pass
ed By the Last Legislature
Have Been Signed By the
Governor
STATUSOF TEACHERS FUND.
CONDITIONS OF THE NEW ACT
ATING RETIREMENT
ADDS GREATLY TO THE AVAIL
ABLE MONEY
Especial to 1'The Jersey city News.")

TRENTON, April 20, 1906-A sum
mary of the ten acts concerning schools
and school matters passed by the recent
Legislature hase been compiled by j.
Brcgnard Belts, assistant superintendent
of education of New Jersey. and sent to
the various school officials in the several
school districts of the State. Of the ten
acts passed three have been signed by
the Governor
Under the Perkins tax distributingsact,
House 274. half of 1 per cent. Of the
$4,O00,000 the railroads will pay, will be
retained for school purposes by the State
and the balance of the additional revenue
from new taxation will be devoted toward
the reelection of the $6,500,O00 raised To-
cally for all taxation purposes. The ad-
ditional revenue to the school fund will
be about 100000.
The new laws are Assembly bill No.
81, Assembly bill No. 2o4, Assembly No.
241, Assembly No. 274. Assembly No.
2s8, Assembly No. 800, Assembly No.
381, Assembly No. 414 and Assembly
No. AT.
The last mentioned bill is the new
teachers retirement fund law. It takes
the place completely of the old law. I'm
der it the trustees Of the fund are to
consist of the State superintendent, three
persons, not teachers, chosen and appoint
ed by the Governor, and five teachers
who are members of the fund, to be ap-
pointed by the Governor after a nomina
tion by the members ofthe fund at the
annual meeting. The annual meeting of
the members of the fund is to be held at
the State House on the last Saturday in
September. The investments of the fund
are hereafter to be restricted to such Sc
curities as are authorized by law for saw
ings banks.
Under the present law person can
not be retired unless he is incapacitated
from earning sufficient livelihood. The
amendment provides for the retirement
in caee person is incapaeitated from
performing the duties of teacher, and
in order to be retired the annuitant must
have first paid into the fund an amount
equal to at least the amount Of his an
nuity for one year, instead of an amount
equal to one-half' Of the average annual
salary for the five years Immediately pre-
ceding retirement.
Instead of the percentage of salaries
TO be paid by teachers now in force, the
new act provides as follows
Two per cent of the monthly salary Of
persons who have been teachers ten years
or less when he joined the und. Two
and one-half per cent. of the monthly
salaries of persons who have been teach
ers over ten years, but less than fifteen,
when they joined the fund.
Three per cent. of the monthly salaries
of all persons who have been teaching
fifteen years or more when they Joined the
fund; provided that the amount paid any
teacher shall not exceed $50 per annum.
The deduction from the teachers salaries
are to be paid to the State Treasurer
quarterly instead of monthly, as hereto
fore
The new act is binding upon all per-
sons who are not member of the fund,
who Shall. prior to January ] next sig
nifty their acceptance of it's provision.
Those teachers who are now members of
the fund who did not signify their ac-
ceptance of the new law shall continue
under the same conditions as heretofore.
No teacher who is now employed in the
schools can join the fund after December
81 next. A-teacner appointed aIter the
new law goes into effect and prior u
January /, 1908, cannot become q menu
.ber Of the fund after December 81, 1907.
All persons who begin teaching after
January i, 1908. are compelled tosbeconel
members of the fund
Assembly 81 amends the act for spec
ia industrial schools by increasing the
maximum amount Of State aid from
ST, 900 to $4,000 per annum.
In Assembly 204 the teachers pension
act is amended by decreasing the time 4
teacher must have taught from forty to
thirty-fve years, and by decreasing the
II.