The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1915-09-16
TEACHERS PENSIONS
Law Providing for Retirement of
Teachers Explained by the
Board of Trustees.
A Minimum of Twenty Years of Ser
vice as a Teacher Is Required
for Retirement.

The following circular issued by
the Board of Trustees of the Min
nesota Teachers Insurance and Re-
tirement Fund will undoubtedly be
OF interest to school teachers and
others, as it explains in detail the
law providing for this fund which
was passed at the last session of the
legislature:
'The term teacher, as defined in
section l of the law, includes all
persons employed in any educational
or administrative capacity in the
public schools of Minnesota, or in
similar relation in any educational,
correctional or charitable institu-
tion supported wholly or in part by
the state, excepting those employed
in the University of Minnesota.
This includes certified librarians.
Teachers in cities of the first class,
Minneapolis, st. Paul and Duluth,
are also excepted.
ANY person employed in Mime
sofa as a teacher (see definition
above), at the time of the passage
Of tile law, April 20, 1915, may be-
come member of the fund associa-
tion upon application to the board of
trustees. Such application must be
made before September first, 1917.
(Section 81.
ANY person not employed in
Minnesota on the above date who en-
tiers upon the work of teaching in
this state on or after September
first, 1915, by such action becomes
a member of the fund association
and as such will be required to pay
the monthly assessments: This ap-
plies equally to those who have taught
previously in Minnesota or in other
states, and to those who are just
entering upon the work of teaching.
1.-The assessments are as follows
(see section 2 of the law: First
five years of teaching service, SIS per
year; second five years, $40 per year;
next ten years, 500 per year; Next
five years. $50 per:y year.
".~"Provided that when the salary of
a member of the fund association
reaches ST., or more said member
is to be assessed upon a percentage
basis, ~ per cent per annum, but
not more than 500 per year, for the
first ten years of service, and per-
cent per annum, but not more than
$40 per year, for each year after that,
assessments to cease after % years
of service.
"At the time application for
membership in the fund association
is accepted and credit is allowed for
past service, at least one-half of the
back assessments must be paid in
cash. The balance must be paid
within two years, with interest at
six per cent per annum. No interest
will be charged if the whole sum is
paid when application is accepted
and credit for service is granted.
"Provision is made in section of
the law for credit being given for
one years leave of absence for
study. Such leave Of absence must
be granted by the board of trustees
or credit will not be given.
"a minimum of twenty years of
service is required for retirement.
Fifteen years of this teaching must
have been in Minnesota. The FIVE
years Immediately preceding retire.
ment must have been spent in teach
ing in Minnesota outside of cities
of the first class. If teacher was
not teaching under contract April
20, 1915, it will be necessary for him
to return to the service and teach
FIVE years before being eligible to
retire and secure a pension. A year
as regards earning time for credit
must extend over at least seven
months. Credit is allowed for frac.
tions of years. Four months teach
ing in one calendar year and three
in another will be considered "a year.
But nine months teaching in one
calendar year and five in another
will not be considered as two full
L,