Wheeling majority. [volume] (Wheeling, W. Va.) 1907-192?, 1916-06-22

trict in this State. The board of trus
tees from time to time may make ana
establish such rules or regulations for
the administration of the fund as thes
deem best, but such rules and regula-
tons shall be approved by the Board
of Education before they can become
operative.
Sec Z. Said board Of trustees may,
by a majority vote of all the members
thereof, retire, on account Of physical
or mental disability, any teacher who
has taught for period of twenty years
or more in the public schools Of Wheel
ing, and shall have paid into the Re-
tirement Fund the sum of $500.
Sec. g. The term teacher" in this
Act shall include all teachers, substi-
tute teachers, superintendent of in
struction, principals, and special teach
ers regularly employed by the Board Of
Education of the District Of Wheeling,
in the public schools in said School
District of Wheeling, including the high
school, and including the superintend-
ent of schools employed by the said
Board Of Education but in estimating
years of service, only service in pub
lie schools or day high schools sup
ported in whole by public taxation,
shall be considered;. the term public
schools is used in this Aact in refer
ence to the public schools Of the School
District of Wheeling, which includes
both the primary or sub-district schools
and the high schools Of said School Dis
trict of Wheeling
Sec. 8. Any teacher who has taught
for period aggregating thirty years
may retire or be retired and become a
beneficiary under this Act, If in the
Judgment of the board of trustees suff1-
cient reason exists for such retirement.
But at least 20 years of such term of
service must have been rendered in the
public schools of the School District of
Wheeling, and the remaining time in
the public schools of this State or else
where, except in case teacher has
reached the age of IS years when re-
the teacher has accepted or rejected
this retirement act. II
Sec. 10. Each teacher so retired or
retiring shall be entitled during the re-
mainder of his or her natural life, to
receive as pension, annually the sum
of $4,000. Said pensions shall be paid
monthly during the calendar year.
Sec. IL. No such pension shall be
paid until the teacher contributes, or
has contributed, to said fund sum
equal to $4,000 a year for each year Of
service rendered as teacher but which
sum shall not exceed 100000. Should
any teacher retiring after having, paid
$4,000 or more be unable to pay the
full amount of 100000 before receiving
pension, then, in paying the annual
pension to such retiring teacher, the
said board of trustees must withhold
on each months payment 20 per cent
thereof, until the amount above pro-
vided has been thus Contributed to the
fund. ~
Sec. IL. Said board of trustees may
use both the principal and income Of
said fund for the payment Of the pen
sions herein provided for, and the ex-
pense thereof but. only the interest
accruing from donations, legacies,
gifts, bequests. or other such sources.
Sec. ID. Before it's distribution and
payment by the board Of trustees to
the beneficiaries. no part of such pen
sion fund shall be liable to be taken or
subjected by any writ or legal process
against the beneficiary.
Sec. IA. The clerk of the Board of
Education shall certify monthly to the
said board of trustees all amounts de-
Quoted from the salaries of the teachers
as above provided, which amounts, as
we'll as all other moneys contributed to
said fund, must be set apart as the
special fund for the purpose herein
specified, subject to the order Of the
board Of trustees. Moneys belonging
to said fund shall be paid only on the
order of said board of trustees on
warrants signed by its president and
secretary and entered upon it's min
utes. The board Of trustees shall make
written monthly report to the Board
of Education of payment and receipt of
| moneys, etc.
The remuneration of. the clerk of the
| Board of Education shall be paid by
the board of trustees out of the fund.
Sec Is. The said board of trustees
+ shall elect for such term Of office as
they shall fix, treasurer. but not from
their own membership, who shall be
| custodian of the said pension fund, and
shall keep the same, subject to the or
der, control and direction of the said
board of trustees. He shall keep books
" 1NSO0Alo COACOI1l1uS the 1uuu III
such manner as may be prescribed by
said board of trustees or any member
| thereof. Said treasurer shall execute
bond to the board of trustees with
good and sufficient sureties in such sum
as the board may require, which bond
shall be subject to the approval Of the
board Of trustees and be conditioned
for the. faithful performance of his du-
ties as custodian and treasurer The
cost Of said bond is to be paid by said
board of trustees from funds of the
Teachers Retirement Fund.
Sec. 16. Such treasurer shall keep
and truly account for all moneys and
profits coming into his hands belong
ing to said fund, and at the expiration
of his term of Office shall pay over, sur
render and deliver to his successor all
securities, moneys and other property
of whatsoever kind, nature and descrip-
ton which may be in his hands or I'M
der his control as treasurer. For his
services he shall be paid not to ex-
coed per cent annually Of the amount
paid into the fund during the year by
the Board of Education and Teachers
and the profits therefrom..