The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-03-21
Senator Minturn Introduces
a Bill Placing the Teach
ers' Money Under State
Control
COMMISSION TO De NAMED
PROVISIONS OF THE NEW MEAS
ERE BY WHICH THE FUND
NAY BE PLACED UPON A
SOUND BASIS

This is Senator Minturn's bill to regu-
late the Teachers Retirement Fund.-
Whenever any teacher upon whom
this article snail have become binding by
its terms shall have taught or been EN-
ployed in any of the hereinafter mention
ed schools for period or periods aggre-
eating. twenty years or more, and upon
proper evidence shall. in the Judgment of
the aforesaid board of trus. .ees, have be-
come incapacitated from performing the
duties of teacher. such teacher shall,
at his or her request, be retired and shall
thereafter receive an annuity out of the
fund hereinafter mentioned. equal to one
half the average annual salary received
by such teacher for the FIVE years of em-
pioyment next preceding the time of such
retirement.
Provided, however, that no annuity
shall be less than two hundred and fifty
dollars nor more than six hundred dol
aars.
Provided, further, that no annuity
Shall be paid under the provisions Of this
article unless the annuitant shall have
first said into said fund such sum or
sums as shall make his or her total pay
ments into said fund equal to at least the
amount of his or her annuity for one
year.
Provided. again further, that under
this provision the total payment Of dues
to the fund shall not in the case of any
member exceed the sum of one thousand
dollars Application for retirement with
annuity under this article shall be fled
with the board of trustees while the APP
plicant is in actual service, or within
two years after applicant has ceased
teaching or active employment in any Of
the schools hereinafter mentioned; the
decision of the board of trustees of said
fund upon any application for annuity
shall upon competent evidence conelu-
sively determine the right of the appli-
cant thereto; and the payment of any
such annuity shall be suspended when-
ever the said board shall discover that
the annuitant has resumed teaching. but
such payment may be renewed whenever
said board shall deem proner.
"Aal annuities payable under the pro
visions of this article shall be paid in
quarterly inssallments on the last days
of September, December, March AMI
June, and all annuities granted shall date
from the first day of the quarter next
succeeding the dates of the gran,n.g of
such annuities.
ION resignation or retirement from
employment in any of the schools here
matter mentioned for any other cause
than retirement on annuity as aforesaid,
al right or interest in said fund of any
teacher upon whom the provisions of this
article shall become binding. shall inlnes
diately cease and determine.
''The retirement fund herein provided
for shall be made up as follows: (A)-
Two per centum of the contractural
monthly salaries of all teachers who were
or who shah have been teachers ten
years or less when they become entitled
TO an interest in said fund. tB)-Two
and one-half per centum of the contract
ual monthly salaries of all teachers who
were or who shall have been teacneis
over ten years, but less than fifteen
years, when they became entitled or
shall become entitled to an interest in
said fund. (C)-Three per centum of
the conractual monthly salaries of all
teachers wae were or who shall have
been teachers fifteen years and upward,
I when they became entitled or shall be-
come entitled to an interest in said fund
Cd Provided that no deduction from
salary made under the provisions of this
article shall exceed fifty dollars in any
year for any teacher.
The said nefcentun of the confractusl