New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-17

to gildcd Subtortuges or 10 methods
savoIing Of indirection. IN order 10
provide the means for the maintenance
o. a proper and adequate system.
After having lived for over twenty
wears under the Old imperfect plan. the
New York City Teachers Pension Fund
is now struggling for existence. It's
resources have been declining m m
verse ratio 10 It's needs and expenses.
In other words, its items Of receipts,
as prescribed by law, are insufficient
TO provide for the payment Of those
persons who have been retired and Tor
many other persons who should be re-
tired.
At the last meeting OF the Beard OF
Education the fact was made public
that there was an actual dehcit IN the
fund and it was stated that, unless
legislative relief was quickly forth
coming. difficulties might ensue.
Coupled with this statement. was the
fact that there are some persons whose
age and condition demand that they
should be retired At once. The law re-
ouires that retirement shall take place
either on February l or on September
| of each year.
The insuffciency of the fund 10 meet
its purposes means that the persons
eligible to be pensioned must be retired
at the end Of another slN months, not
withstanding the fact that many have
earned their rest by length Of service
and bv virtue Of old age. while still
others have become superannuated and
unserviceablc for the purposes of the
school system. II would be inhuman
to drop these old people from the
school system on the ground OF I'M
paired efficiency. although, on the other
hand. their presence in the classroom
will not furnish the kind or the volume
OF education which is required under
present conditions.
The existence of such conditions evil
dences the absolute necessity OF re
organization OF the Public School
Teachers Retirement Fund along lines
which will render ~ adequate and sur
icient for present and future pur-
poses. I'm the reorganization of the
pension plan IL would be well 10 divest
( il Of the many incongruous features
which il now possesses. There should
be no reason for cloaking the fact that
money taken from excise taxes Is pre-
cisely the same as money taken from
the city treasury or from the tax
budget The difference is only repre-
stEted b{ tlrcumlOCutlon OF methOds
the taxpayer is the real contributor.
There should be no reason for tickling
| ones self into the belief that many
/ teachers hold namely, that they are
contributing money TO the fund, when
an amount equivalent 10 their absence
is placed therein. That which they
have not earned they are not in posi-
tion TO contribute. Let Us be frank and
explode this failacy and concede that
this is only one Of the divers ways by
which the taxpayer contributes 10 a
benefcent end. without knowing IL.
Would not the taxpayer be Just as
willing 10 foot the bill if he knew all
about IL and had an opportunity Of
knowing what he was DOING?
The contribution Of per cent OF a
teachers salary may be balm aud unc-
tior to the soul Il the teachers, because
II looks as If they arc buying an an
nuity and paying for it. However, II
would take the contribution of a single
/ teacher for a period Of several hun
/ bred years. if this were possible. in
/ order to equal the cash required to pay
the annuity Of the average annuitant