Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1915-04-29

/ port under oath 10 the Board OF Trustee
{ tirement Fund. giving an issmized summary
ahs statenents received by him from g
lng bodies showing the total amount with
held from the salaries OF teachers In -,
County for the benefit of said insurapes m
tsir,,ess sn aag IF ysnasry r' and Sstwssn N II
fifteenth and thirtieth day OF July OF eac
year, the County Treasurer Of each Count
moneys received from the Boards OF Edueatio
81 other MANAGING bodies Of school district
snce with lie provisions of this Act a.
shall certify under oath to the CORRECTNESS
o. the amount 80 received and transmitted
The state Treasurer shall credit ell money
received under the provisions Of this Act b
the State Teachers Insurance and Estiremen
Provided. however. that the state Tres.
urer, the several County Trtasurers and TIN
treasures OF the various school districts shsi
and disbursement Of sIi moneys coming int,
their hands belonging 70 the said state Teach
ers Insurance and Retirement Fund, ant
the securities the official bonds of eacf
OF said tressurers shall be Liable for suef
money the same % fog al other moneys be
70 me senoo. rands q ms p sta
be vested In n board Of Ave 90 trustees. whict
shall be known as the Board Of Trustees d
Fund. Said soara a''s shall ss eompa ss%ee 3,
the following persons The state suptrinten.
Fund Association who shall be siscsed by
the members Of The FUND Association ID the
soa psss e ai ss's asa Of al
on the frst Monday Of January next saecssd-
FIRST elective members. who shall assume
once immediately after their election and
. . one for on. year and one for two yesrs
ceedink their election and until their success
sors are eisetsd. Vacancies in the elective
superintendent by said hoard Of trustees. The III
lbs Fund Association, when the nembsrs 81
or trustees 70 serve for this nnexpired tern,
Or terms. Nc person shall bs appointed BY
, the nosrd Q, Trustee. Or elected by the
Der Of this Board Of Trustees who is not .
member Of the Fund Association at the time
!. In the interval between the passage Of mi,
Act and the time when the nrsf elective
msmbcfs ef this Board of Trustees shall Ms
superintendent Of Edncatlon, the State Auditor
aud tho Attorney General shall constitute Z
sssmpsrasy board q trustees q tho Teacher,
bs empowsrsA 20 perform the duties OF said
frame by-lsw. tor III own government mol
Inconsistent with the laws Of the State, and Il
modify them at pleasure; TO elect one Of Ia
70 provide ana snforcs eli rules IS and rssais la
lions necesssry TO carry into effect the pro
visions Of this Act to elect = secretary, who
and 70 NJ tho salary and prescribe the duties
% the once Of secretary; to authorixA the ~.
s X. cot " the stat. Auditor
ssid Fund Of all snnuities or dement's pay.
able under the provisions Of this Act, Of ths
salary OF the secretary. and other necsssar,
All applications for annuities or benefit,
under this Act must be made 10 said Hoard
may summer witnesses and, In the case 81
applications founded on disability. may 70
anire aay applicant TO- submit 70 medics
In the case Of all applicants may conduc
any reasonable investisation TO determine tn,
Justice ". 2, O an. any claim .aemi.tea Z ma,
Trustees Of the Teachers Insurance. ana ne
tirsmsnt Fund. and. Ia ali actions brought
ssaa aSs ssrs sha a IL Tss a.s
msnt but IN any action Sroash. sssin.; il 5,
any person claiming to be beneficiary oil
said Teachers Insurance aud Retirement
Fund 4 shall not claim immunity from suit:
!, .nai, , ns The y duty q .a,a Board e IN,
shall not be needed for current purposes. sucf
Investments shaii be made IN the name elias,
Of securities ~ those In which the schop
funds Of the state arc required Ia be In
vested, and all securities taken upon such
Investments shall be deposited with the Stats
for current purposes No such sale shall b.
made except by the unanimous vote az sale
board, such vote to be- entered upon ths
records OF It's proceedings. All interest OBJ.
tained from such Investments shall DO place.
purposes a suitable office il the Capitol
with suitable furniture and necessary ofiu.
supplies. shall be provided by thr proper
stats OFFICER for the use Of said Board oj
Sec. 8, The board Of Trustees shall NEE,
annually q the oftice Of the secretary. In ths
tember NJ an hour to he fixed by the Beard
special meetings may be held ut any time or
The g. cnl' q the president Of said Board o.
Auditor. State Superintendent OF Education and
Attorney General shall serve as members oil
The elective members Of said Board shall b.
entitled TO compensation at the rate Of Five
Dollars per day and necessary sxp.ases.,
% b paid out n the insurance ana he.
a ": sss. :. n. 'a;.r,as,
day OF August and shall end On the 8ist da,
OF July, The board OF Trustees shall pre-,
g ss g ~
report Of the condition Of said funds for the
last preceding rear, which shall include ths
FUND. together with iist af .ns Ssneneiar.e e,
thereof and o. the securities In which xait
Fund y invested, copy Of said report shall
tsined by tho state superintendent OF Edu
cation, and = copy sent TO coach County su
sssoe Prasp. and sss
President OF each state Educational institu
,ion, This report shall be pubiishrd in ID,
essani., report Of the state Superintendent o
SEQ. q. The treasurer OF the state shall
bs sx.ofieio treasurer Of the Teachers In
oral bond e Tho state shall cover any issi Bill
ties for his sets A. Treasurer Of said Fund
He shall receive all moneys payable TO SAX
.sasa ~ II. st ssass Auditor upon Voucher
slsnsd BY the president and secretary OF thu
Hoard Of Trustees, said treasurer shall xiy'
said fund. shall keen fun and correct aceoun
Of the financial transactions connected there
NTH ana .na, make ~ =, annual sepor. 70 tn
the r~cstpts and Disbursements ana oths
financial transactions cennscted with sail
See. s,--Any person employed a. teacher
when this Act takes eject In any rahM
school n I'll. state or u any ether educ.
this Act shall be permitted 70 eecesae
member Of the Fund Association and 10 re-
s s. . a. Ssns M1,s q ,a as osr 81 .s
tees et the Tsachcrs' Insurance. and Retire
ment Fund On or before September /. 1917
Board Of Trustees a. herein provided. sacl
teachers shall notify the local School Roar,
Or managing body Of the Institution IN whic'
her elc~tion to come within the provisions .
this Act. and shall authorize said Board o
managing body as part of said notice &
deduct or withhold on every payday from HI
or her salary the amount which he or sh
would pay into the Fund. M specified Il
Section Two.
Any person who shalt accept employment 4
this state as \ TEACHER. A. hefelnAhuve de
not have been employed ia this state at tn
time thts Act takes effeet shalt by xtr
tue Of thu acceptance OF such employment he
ditions of this Act, and shall become q nseiu
her OF the Fund Association.
see, q. Any member OF the Fund Asso
citation who shall have rendered twenty t2a