The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1918-12-07
VERMONT PLAN
BEST IN UNION
Teachers Pension System
Endorsed by National Il.
Association
RECOMMENDED FOR
NEW YORK CITY

Enhodies Advantages and Avoids Dam
gers CO Systems in Other States and Is
Simplest Yet Devised-Universal Adop-
ton Advised.
Pensions for PUBLIC school teachers fur
uishcd the subject Of an elaborate report |
prepared for the National Educational as
sociation and issued yesterday by the Car
ncgie Foundation for the Advancement OF
Teaching, says the New York World oil
Friday. The pamphlet embodics the find
ngs of Drs. Clyde FuIat and /. l.. Handel,
after a study of 81 pension systems OF the
schools of "a states and after consultation
| with other authorities. /.
| Most of the systems are pronounced So
ciahy unjust and financially unsound. De
velopmcnt in the right direction has be-
gun in this city, in Massachusetts,, Illinois
and Pennsylvania. hut an Improvement
upon any pension system now In existence
IS suggested in scheme OF retiring allow
tanccs in Vermont, based upon the most
complete actuarial and financial data ever
tof such 4 system by all the states is ad-
vised, and particularly by this city. whose
sad experiences in the threatened e2lhaus-
ton OF the Teachers Pension Fund dem
onstrated that no system could be pes-
manently workable unless conducted on
the same economic basis as insurance.
The only way III which absolute securi-
y can be obtained says predatory re
| port in the pamphlet, signed by commit
Zee OF the National Educational associa-
ton, is FOR the contribution OF the pub
lie and that Of the teacher to be paid an
nually. credited 10 the individual teacher
and set aside to accumulate until the time
of us retirement.
An annual contribution oil Slt1 year
beginning at the age OF - and accumulat
Cd ut per cent interest, will amonnt al
s. to s., So. 65, at 70 to 81, 5S7,06. These
sums viii provide man with an annuity
for life. according to the McChntock table
ol mortality and 3i4 per cent interest o.
| Less q year, beginning at 6j. or OF $l.6sl
| a year, beginning at 10 Ii a man wishe;
to be sure OF life annuity 81 sl.pD0 !
Ii year at e. or ~ he knows this will cost
| | 9,usg.G1 or SS,Gi2. ~ at those ages. an,
( that 1t would require contribution o
| So or vi Sos a year from the age o
| 3 Ia accumulate those sums The annGi
| ties from such contribution for women
| | who hive longer than men, would be abou
l | four-iifths OF the sums mentioned
III The Vermont plan, which is favored b,
the committee in the PREDATORY report an,
It's commented BY the compilers of tn
pamphlet Is embodying the advantages an,
avoiding the dangers OF others, and a
the simplest yet devised, provides for
teachers pension board of FIVE members
two members chosen by the teachers 70
| terms of three years. two representa-
the state, probably the treasurer and com
:. .asIQncr OF insurance and the commits
! sioner OF education The state will pa
the cost OF administration.
Membership is compulsory fos all se2cl
e efs entering the service alter the inaU%lra
I. ton q the system, and optional for %
year Tor those in service Eetlu nent
y | ptiona. ~ ~ or .atcf iQr Npolcn end a
d - or later ioi lnes, or after - wears 1
s. service and compulsory Tor all at ~
8 Allowances are 10 consist 81 the sum
II 1ntri!utsd annually bv the teacher an
Il - st2fe, dt compound interest 81 )
/ east I rer cent. applied At the tInc {
Il retirement to purchase annuitieS aud g
!, lp3g cent interest.
i On the basis Of disability after Si< ycas
o OF service IN the state an annuity may /
i had based upon the sums accumulated an
By per cent interest, and az aUditi ont
payment from the state sufficient 10 max
the total annual pension equal - or,
, half the teachers annual salary during Il
= period Of active service. Il teacher die
e before receiving all ii Iii, own ana I'll
= states contributions. tic balance viii !
n lpaid to bis family
ID Contributions OF teachers shall be ) pc
he cent OF their current annual salaricz wit
ID minimum al sic. and The state viii ia
n, annually ~ riach. which VIII 90 to til
al teachers credit Those accommodations Vi
ID be credited ii individual acy,gnt@ Il
II state guaranteeing rat" 81 at lsaSt
&c per cent in interest, compounded. annu''
re ~
Return Of the teachers contribution
iwill b made in case n5 resignation di
mssal ~ death before te5ir4nent, Wit
a / compound interest al 81 lsci cent. 20 Ii