Norwich bulletin., 1919-04-30
RETIREMENT SYSTEM
 FOR SCHOOL TEACHERS


 FOR SCHOOL TEACHERS
 The following bill concerning the es- tabllshment of a retirement system for school teachers was passed in the house at Hartford Tuesday in concurrence with the senate:
 Section l. Section 1916 of the gen. eral statutes is amended to read as follows: A teachers retirement asso- claton shall be organized among the teachers in the public schools as fol- lows: All teachers. except as berein- after provided. who enter the service Of the public schools for the first time on or after July 1, 1917, shall become thereby members of the association. Any teacher, who shall have entered the service of the public schools be- fore June 90. 1917, may at any time on or before Sept. 30. 1917, upon appli- cation in writing to the secretary of the retirement association, become a member of the association Any such teacher failing to do so may thereafter become a member of the retirement ! association by paying an amount equal to the total assessments, with regular interest thereon, that he would have paid if he had joined the retirement association on Sept. 30 1 1917. Any teacher who shall have at 1 tained the age of sixty five years and shall have taught at least forty years | in the public schools, twenty five of 1 which shall have been in this state and who. prior to June 30, 1917, shall l have retired from active teaching be- cause of physical incapacity for fur | ther service, may, at the discretion oi the retirement board, become a mem Der of the retirement association Such retired teacher shall thereupor be entitled to receive an annual pen sion so long as he shall live, at the rate to which he would be entitled ha6 | he become a member of said associa- ton as an active teacher on Sept. 30 1917, provided no benson paid such re- tired teacher shall amount to les. than three hundred nor more than five hundred dollars per year.
 1 Sec. 2. Section 1919 of the genera statutes is amended to read as fol. lows: Any member of the retiremen association may retire from service ill the public schools on attaining thu | age of sixty years or on the compile tion of thirty five years of service, no less than twenty of which shall have been in the public schools of this stat, not less than five of which shall i'm
 n1ediately precede retirement. An, }. member Of the retirement associa ton, if incapable of rendering satis factory service as a teacher, may witt ,! the approval of the retirement board be retired by the employing schoc board on attaining the age of fifty five years, or at any time thereafter Any member of the retirement asso citation on attaining the age Of seyent, } years, shall be retired from service il
 the public schools: provided, if tn employing committee shall so reGues in tiyDxr ipd permit the employment of such mem l Der beyond the age Of seventy years and on the retirement of such mem Der he shall receive from the state tn pension to which he would have bee
 entitled at the age of seventy / member of the retirement asSociatio
 after his retirement under the provis l ions of this section shall be eBtitle ] to receive from the annuity fund, a 3 he shall elect at the time of his retire c ment. on the basis of tables adopte
 hy the retirement board; an annuit I payable in monthly payments, e which the sum of his assessments UT e der the provisions of section 101S { y the general statutes, with regular ir
 terest thereon, shall entitle him: or a = annuity of less amount as determine U by the retirement board for the ar Il nuitants efecting such option, payab Il in monthly payments. with the pro s vision that on the death of the al . nuitant, the annuity shall be conti1 U ued to and throughout the life of sut u person as he shall nominate by wri < ten designation duly acknowledgt Il and filed with the retirement board the time of his retirement. The r K tirement board may offer benefits IS equal value with the benefits here
 provided and the contributor retiril
 may accept the benefits herein pr
 vided or one of said alternate benef F in lieu thereof. Any person receivi payments of an annuity as proyid g in this section shall receive with ca l. monthly payment of his annuity E.. equal amount to be paid from { Tn pension fund as directed by the I
 tirement board. Any teacher " y shall have become a member of | d, retirement association under the pr ty visons of section 1916 of the genel oe statutes, and who shall have serv
 fifteen years or more in the pub ,n schools of the state, not less than fl CT of which shall immediately prece to retirement, shall. on retiring or bel to retirde as provided in this section, ,n entitled to receive a retirement allo ID ance as follows: Such annuity a a. pension as may be due under the pl AH SlSlOnS OI tulS SSctlOn, all dO1ltiOi
 pension to such an amount that
 sum Of this additional pension to st
 an amount that the sum of this ad < tfonal pension and the pension here to before provided in this section sh y, equal the pension to which he wo- or have been entitled under the prov r. ions of this act if he had paid thi UT assessments on his average yea ly, wage for the five years preceding
 retirement, with interest thereon in three per centum compounded annu nd ly; provided if his term Of service he the state shall have been over thi he years. the thirty assessments shall IT, reckoned as having begun at the ii ce of his entering service and as dra
 ing interest at three per centum co
 pounded annually until the time of ,oI retirement: and further provided, " the sum of such additional pensi
 with the annuity and pension p r. vided for by this section. is less u ,ol three hundred dollars in any { Lte year, an additional sum sufficient h. make an annual retirement allowal or of three hundred dollars shall be D 'ty from the pension fund. If at any ti