New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-07
Census of 10000 Is First
Step i'm Saving City's Eight
Pension Funds from Chaos

machine that asserts and Classics them at
the rate Of one hundred and fifty minute add
ing the data in FIVE different columns.
The task before the actuarial department OF
the commission is first of all to find out the
extent of the city's liabilities under existing
provisions The statistics and data collected
by the city employe census will furnish the
basis. Each OF the eight pension funds now IN
operation is being valued separately And IN
addition to the customary figures computa-
tons are being made showing the amounts
that are needed annually for the city to pay
its pensioners.
In transforming the present city pension sys-
TEN. as has already been stated, the commits
sion has to deal with eight separate funds. The
first Of them was started in 1857, and the
others have struggled along in haphazard
manner since that time
The police fund is the oldest, and member
ship is compulsory 1t consists of the uni
formed force. All members contribute 2 per
cent OF their salaries, and the city makes up
the deficit, if there is one. There has been
one since 1904 and it has been covered by bud
getary appropriations.
The Fire Department fund established
in 1871. Employees are not allowed to con-
tribute to it. The regular income has been
drawn from miscellaneous sources and has
been inadequate since 1912. Deficiencies have
been met by the sale of special revenue bonds
The school teachers retirement fund was be-
gun in 1894. All regular teachers in the city
subscribe to it. The regular income has been
insufficient since the fund was started. De
fciencies have been covered by the city ad-
vancing each succeeding years income.
The Health Department pension fund was
established in 1894, and membership is wholly
voluntary. The reserve fund is inadequate, in
solvency is near and there is no provision IN
the law covering deficiencies.
The Street Cleaning Department pension
fund is only four years old and is subscribed
to by Ill members Of the force. They are
compelled to contribute per cent of their sal
aries The income is derived from various
sources, and though the total income was three
times greater than the disbursements the fund
cannot be considered solvent. In fact it has
never been valued and the extent of the insol-
vency is not known.
The Grady law pensions, including all city
funds needed for the pensions Of the First
Department of the Supreme Court are par
TALLY provided for by annual appropriations.
The pension fund for the College OF the City OF
New York, whose income is limited to l per
cent of the city's share Of excise taxes, has
needed but small portion OF the taxes allowed
to meet all claims.
No city abroad has been discovered which
makes such liberal provisions for retirement
as the city Of New York In Paris the city
pension fund was established in 1906. En-
.ployes contribute per cent Of their salaries
and the city 10 per cent of its payroll. The
average pension received by the city employee
is SIG a year. A scheme has recently
been proposed to merge all funds into one and
to increase the employees contributions to
per cent of their salaries.
In Berlin employees do not contribute to the
pension fund. No service retirement is al
lowed to any employe under the age OF sixty
FIVE. Pensions are provided for widows in
proportion to husbands pensions.
London established pension fund for all
its employees in 1906. They contribute 2H
per cent Of their salaries and the city con-
tributes the balance. service retirement at
the age of sixty and after forty years service
is provided, as we'll as disabled pensions after
ten years Of service.
Henry Bruere declares that there is nothing
mysterious about the work of the new COM
mission and no sinister designs against the
present pensioners. the city employees or the
general public. 1t has been created for the
plain and straightforward work of establish
ing a sound pension system for the City of
New York