The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1909-07-29

fund shall be made up of gifts and legacies,
spe9Gcihcaliy given to said permanent fund
(a) Gifts and iegacies not specifically
given to said permanent fund
OBJ Interest derived from said perma-
nent fund.
tc) All moneys obtained by such other
methods of increment as may be duly and
legally devised for the increase of said fund
The general fund may be drawn upon for
the purposes of this act by said board OF
trustees
8. Said board shall have control OF the
annuity and retirement fund and the invest
ment thereof Investing the same only in
such securities as savings banks are author
ized by law to invest in. The board shall
receive and consider all applications for
annuity under this act, shall determine the
amount ii not otherwise provided and direct
payment Of the annuities. Whenever any
member of the board shall cease to hold
position as a member of the board of school
directors or other managing body or as
teacher in the public schools, his or her
membership in said board of trustees shall
thereupon cease.
.. The city treasurer shall, ex-oficio, be
the custodian OF said annuity and retire
ment fund, and shall make payments there
concerning such fund, in such manner as
may be prescribed by said board Of trus-
tees, which books of account snail always
be subject to the inspection OF the board
Of trustees, or any member thereof, and
any contributing teacher He shall also
keep and truly account for all moneys, prof
such treasurer, belonging to such fund, AND
at the expiration of his term Of Office shall
pay over, surrender and deliver to his sue,
cessOr all moneys, profits, securities and
other property OF whatever kind. nature, or
description which may be in his hands or
under hls control as custodian aforesaid.
10. Beginning with the monthly payment
of teachers salaries in November, after the
first meeting Of the board of trustees af0re-
said, the board of school directors, or other
managing body, shall reserve from the sal
nT
the provisions or this act, pursuant to au-
thority heretofore given, and from every
monthly ayment thereafter, for the period
of twenty five years, or until the total sum
Of five hundred dollars is paid, the sum of
two dollars, and shall pay the sums SO re-
served into the public school teachers an
yided.
II. The city treasurer, upon the order Of
warrant of the board of trustees shall pay
out of said annuity and retirement fund, In
monthly payments, to each teacher who
shall retire from the service of the city
upon the recommendation Of the board OF
trustees determined by majority vote, and
under the provisions of this act, and be en-
titled thereto, the sum OF four hundred dol
lars annually; provided, however, that II
said annuity and retirement fund shall at
any time be insufficient to make such pay
ments, the amount In said fund during said
period shall be pro-rated among the par
ties entitled thereto, but in no case shall
any teacher receive such annuity until he
has taught twenty-five years, and for at
least fifteen years in the public schools of
the city to which this act applies. except
ever, that should a teacher who has taught
for dfteen years or more in any such city,
become incapacitated, having paid the
amount of fifteen years contributions or
more, as herein provided the board of trus-
tees may, in It's discretion allow such teach
er, six months after he has ceased active
service In the school, upon certificate OF
such incapacity furnished by the attending
physician and oy physician employed By
the board OF trustees, an annuity, the
amount Of which shall be determined by the
board OF trustees, and such annuity shall
cease when the incapacity ceases. Should
such incapacity become permanent and
Of such city, the board of trustees may pay
to such teacher a proportionate annuity.
Such annuity shall be as nearly as prac-
ticable, as many. twenty -ffths of the full an
nuity provided in tbs section as the years
Of service of such teacher in said city are
a party Of twenty-five.
IL. All annuities granted by the board
of trustees or other managing body under
the provisions of this act, shall be uni
form, in amount except as otherwise pro-
vided.
teacher until such teacher shall have con-
tributed to the general fund sum equal
towit: five hundred dollars. except as here
In otherwise provided. Any contributing
teacher who has taught In said city for
dop to the D monthly az proyded BY
section five. pay into the city treasury as
q part of said funds in sums Of ten dollars
or any multiple thereof, until the entire
sum OF five hundred dollars is paid by such
teacher whereupon all monthly payments
shall cease.
retire voluntarily or involuntarily from the
service, not being in receipt Of an annuity.
or being less than sixty five years old, shall,
If application, is made within, three months
total amount paid by him into said fund,
and in case of the death Of any contribut-
ing teacher, his heirs or legatees shall be
by such teacher into said fund, upon appli-
cation therefor within three months after
the date Of death. and upon proof of death
and upon said claim made to the sattsfac-
tion OF said board Of trustees.
10. Any member Of the teaching or SUPER
vising force who shall have attained the
been engaged in the work of teaching or
supervision for period aggregating TWEEN
ty-fye years. at least fifteen years OF which
shall sn have been In the cubic schools OF said
be entitled to receive, after retirement, out
OF tn teachers annuity and retirement fund
II the general fund shall permit this sum
to be paid to other retired members; other
wise he or she shall receive the same
amount as Is permitted To be paid to the
IS. All annuities granted under the pro-
visions Of this act shall be exempt from
execution. attachments and garnisbment pro-
cess, and no annutant shall have the right
to transfer or assign his or her annuity.
IL. All elections or appointments Of
teachers by the board of school directors or
other managing bodies in cities OF the frst
successful probation for four years, the
election or appointment shall be permanent,
during efficiency or good behavior. provided
that teachers having taught four years or
more 10 cities to which this act applies shall
be deemed to have served their term OF
probation. No teacher who has become per-
manently employed as herein provided by
reason of four or more years OF continuous
service, shall be discharged, except for cause
upon written charges which shall after ten
days written notice thereof to such teacher,
upon such teachers written request, be in
vestigated, heard and determined by the
board of school directors, whose action and
decision In the matter shall be final
Is. The term teacher in this act shall
include all superintendent, principals, SUI
pervisors, and regular instructors employed
In the public schools Of cities of the first
class. provided, however. that nothing here
in contained shall be taken to effect the
election, appointment or tenure OF the 81.
perintendent, the assistant superintendent
and special supervisors.
10. If at any time the general fund de-
rived from the sources hereinbefore men
toned in this act, shall be found insult
and due under the foregoing provisions of
this act, then the board of school directors
shall pay into the public school teachers
annuity and retirement fund out Of the
school fund assessed, levied, and collected
from the taxable property OF such city for
general school purposes, sum not to ex-
coed one per cent. of the gross amount
thereof and In no case exceeding In any
one year the amount paid Into the annuity
and retirement fund during the preceding
year by the, teachers. as hereinbefore pro-
vided.
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