Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1907-08-08

NO. 216, 81 LPuDiiShed July /, 1907.
AN ACT to create section 925-xx of the
statutes, and to provide a public school
teachers retirement fund in cities of the
first class.
The people of the State Of Wisconsin. repre-
sented In Senate and Assembly, do enact
as follows
Section l. There is hereby added to the
statutes, a new section to be known as sec
ton 025-xx, to read as follows; Section
925-xx. l. Two female teachers two
male. teachers, and four members of the
board of school directors, in cities of the
first class shall constitute in their respec-
tive cities a board Of trustees for the pur-
pose herein set forth. The teachers who
shall elect to come under the provisions of
this act shall hold their first annual meet
ing on the first Saturday Of October. 1907,
and shall elect by ballot, one female teacher
who shall hold office for q term of one year
one female teacher who shall hold Office for
term of two years, one male teacher who
shall hold office for term of one year and
one male teacher who shall hold Office for a
term of two years and majority of all
the votes cast shall be necessary In each
case for an election. Such meeting shall
be called by the secretary of the school
meeting shall be held Annually T ~ there re
boa4 Of At @ the rs ~ t6f
October one female teacher and one male
teacher shall be elected In the same manner
for term of two year years - The boards Of
$4,000
shall, at their regular meeting in October
1907 elect two Of their number to be
members Of the board of trustees for a
term of one year, and two of their number
to be members of the board of trustees for
term of two years; and annually there
after, at their regular October meetings
the boards Of school directors shall eIecS
one of their number to be a member of the
board of trustees for term of two years.
The board of trustees shall organize within
ten days after the regular October meeting
of the board of school directors by the cleo
ton from their members Of a president,
vice president and a secretary, and may
adopt rules of order not inconsistent with
this act In case Of vacancy, the board
Of trustees shall within ten days after it's
occurrence fill the same for the unexpired
2 teachers retirement fund Ia hereby
created In cities Of the first class, and the
fund shall consist Of permanent and
general fund.
The permanent fund shall be made up
Of gifts and legacies specifically given to
said permanent fund, and the sums set
apart by the board Of trustees.
The general fund shall be made up Of
(a) Gifts and legacies not specifically
given to said permanent fund.
Of teachers under the provision of this act,
and the interest derived from said perma-
1c) The board Of school directors In
cities Of the first class may pay out OF the
school fund into the teachers retirement
fund sum not to exceed one per cent. OF
the gross receipts raised by taxation for
(d) All moneys obtained by such other
methods Of increment as may be duly ana
legally devised for the increase OF said
fund
The general fund may be drawn upon for
the purpose Of this act by said board OF
trustees.
3. Said board shall have control Of the
retirement fund, investing the same only
In such securities as savings banks are
authorized by law to invest in. The board
shall receive and consider all applications
for annuities under this act, and when In
their opinion the best interests Of the school
are served by the retirement of the april
cants, shall determine and direct payment
of the annuities. The board shall keep full
and complete records of the receipts ana
disbursements of this fund, and complete
list of all annuitants, ana snail make re-
port Of the same at each annual meeting OF
the teachers in October. All necessary ex-
penses incurred by the board in carrying
out the provisions of this act shall be paid
out of the retirement fund, in accordance
with the votes of the board. The members
Of the board shall serve without compensa,,
ton. Whenever any member OF the board
shall cease to hold position as MEMBER
of the board Of school directors, or as teach
er in the public schools, his or her member
ship in the board shall thereupon cease
4 The city treasurer shall be the Gus
todian of the retirement fund, and shall
make payments therefrom as ordered by the
board of trustees.
In November 1907 the board Of school
directors shall reserve from the salary Of
each teacher who has come under the pro
visions of this act the sum OF four dollars
($4O0), and from every monthly. payment
thereafter for a period of twenty-five years,
shall reserve the sum OF two dollars (S2.OO),
and shall pay the sums so reserved into the
school teachers retirement fund, as herein
provided.
G. The city treasurer upon the order Of
the board of trustees, shall pay out Of said
retirement fund, in monthly payments, such
an annuity to any teacher who shall retire
from the service Of the city. as the fund
will allow, and said board Of trustees shall
determine; but in no case shall teacher
receive such annuity unless such teacher
has taught for twenty-five years, and for at
lea least ff ten cEea to IN which s act appe
except as hereinafter provided.
T. All annuities granted by the Doard
of trustees under the provisions of section
provided in section eight of this act,
g. No annuity shall be paid to any
teacher until such teacher shall have con-
tributed to the general fund sum equal
to all the assessments for twenty-five years,
to-wit FIVE hundred dollars. Should any
teacher retire under section six and be un-
as above specified, the board of trustees
shall pay to such retiring teacher an an
nuity directly proportionate to the amount
Of PAID BY 5sFS
O. ANY teacher who shall have been
contributing member, who shall retire from
the Service not being In receipt Of an an
nuity shall, If application Is made within
three months after date of his retirement,
receive one-half of the total amount paid
by him into the retirement fund
10. Ali annuities granted under the pro-
visions of this act shall be exempt from
attachments and garnishment process, and
no annuitant shall have the right to trans
fer or assign his or her annuity, either by
way of mortgage or otherwise.
Ii All elections or appointments of teach
ers by the board of school directors shall be
ss,v1y nP+ h5c ~ oil
such elections and appointments shall be
on probation but on successful probation
of four years the election or appointment
shall become permanent during efficiency
and good behavior No teacher who is q
contributor of said fund.- and whose posi-
tion has become permanent by virtue Of sue
cessfuI probation shall be removed or dis
charged by the board of education except
for cause upon written charges. The teacher
shall receive copy of such written charges
at least three days before the hearing there
IL This act shall be binding on all
teachers employed in cities Of the first class
at the time of it's enactment, who shall
thereafter elect to come under its provF-
sions. Notice in writing to the superin-
tendent of schools shall constitute such
election. All teachers not employed in cities
ment of this law, who may be elected or
appointed subsequent thereto, shall be bound
by the provisions Of this act. when their
respective appointments snail have become
permanent as herein provided.
49, The term teacher" in this act shall
include ali superintendents, principals, and
regular Instructors employed In the public
schools of cities Of the first class, provided
however, that the election or appointment
of the superintendent, the assistant super
intendents, and special supervisors shall not
be affected by paragraph eleven Of this
act.
Section 2. All laws or parts of laws
which are inconsistent with this act, or any
Of the provisions thereof are hereby re-
pealed.
Section g. This act shall take effect and