Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1911-08-04
81 rPnblished Nav y. 1911.

NO. 3l5, 81 lGuDIlSHeu May q 4J44'
CHAPTER 1879, LAWS OF 1911.
| AN ACT to amend subsectiOns 10. IL,
IA and 10 o. section 925-XX; and to
repeal subsection Is Of section 925-
Xxx of the statutes, relating to a pub
lie school teachers annuity and re-
tirement fund, in cities of the first
class
The people of the State Of Wisconsin.
do enact as follows:
| section /. SubsectiOns 10, IL, IA, and
19 Of section 925-xx of the statutes
are amended to read (Secton 9Z5-Xx)
| 10. beginning with the monthly pay
ment of teachers salaries in NoVem-
Der, after the first meeting of the board
| of trustees aforesaid, the board of
| school directors, or other managlng
| body, shall reserve from the salary of
each teacher who has come under the
provisions Of this act, pursuant to au-
| thOrity heretofore given, and from
every monthly payment thereafter, for
| til the total sum Of five hundred dol
| lars is paid, the sum of two dollars,
and shall pay the sum so reserved into into
| the public school teachers annuity and
retirement fund as herein provided,
Each teacher employed in the public
| schools of the cities of the first class.
desiring to come under the provisions
of this act, after having taught two
or more years in such city, after this
act shall have become operative IN
such city, shall pay into the pubIlc
/
ment fund, at the time of filing, his
application with the superintendent,
! the clerk, or secretary OF the boafd OF
school directors or other managing
body in addition to the other provi-
sions herein, an amount equal to the
compounded interest at five per cent.
on all moneys he would have paid into int,
| said annuity and retirement fund, had
! he come under the provisions OF this
act on the last day of a period of two
years after it shall have become oper-
cities of the first class, after this act
shall have become operative, shall at
| the time of coming under the proVl~
sions of this act in addition to any
| other amounts provided by this act,
| pay into said annuity and retirement
| fund an additional amount equal to the
compound interest at five per cent on
! the amount of money he would have
paid into said annuity and retirement
| fund, had he come under the provisions
of this act at the beginning of his serv-
ice in said city Of the first class; pro-
interest shall be computed upon a
single principal annually from the date
of the last day of the school year.
| IL The city treasurer, upon the
order of warrant of the board Of trus,
| tees, shall pay out Of said annuity and
retirement fund, in monthly payments,
to each teacher who shall retire from
mendation of the board of trustees
| determined by a majority. vote, and
under the provisions of this act, and
be entitled thereto, the, sum of four
| however, that if said annuity and re
| tirement fund shall at any time be in
| sufficient to make such payments, the
| amount in said fund during said per
| iod shall be prO-rated among the part
les 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 as hereinbefore pro-
a teacher who has taught for. fifteen
years or more in any such city, be-
come incapacitated, having paid the
amount of fifteen years contrlbution
| Of trustees may, in it's discretion, allow
such teacher, six months after he has
ceased active service in the school,
upon a certificate of such incapacity
and by Q physician employed by the
amount of which shall be determined
! by the board of trustees. and such
annuity shall cease when the incapac-
ity ceases. Should such incapacity be-
come permanent and should such
teacher retire from the service of
such city, the board of trustees may
pay to such teacher proportionate
annuity Such annuity shall be, as
! f1fths of the full annuity provided in
! this section as the years of such teach
! er in said city are part OF the twenty
five. Upon the recommendation of the
SUPERINTENDENT of schools. if any, and
the board of school directors. or other
| managing body, the board of trustees
may, by majority vote OF the mem
| bers of said board of trustees, grant
| come under the provisions of this act,
| who may be mentally or physically in