Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-03-26
TEACHERS PROTEST
AGAINST REPEAL Of
STATE PENSION LAW
LOCAL EDUCATORS MEET TO DIS.
CuSS MATTER THAT EFFECTS
THEIR FUTURE WELFARE a
STATEWIDE FIGHT UNDER WAY.

'''N''' ~ ~ W tt-' ~ -
STATEWIDE FIGHT UNDER WAY.
Practically every teacher in this
vicinity interested i'm the statewide
teachers pension and retirement fund
attended the meeting in Library Hall
held for the purpose of discussing the
present legislative measures which
are before the house in regard to the
pension law The meeting was called
to order by Miss Alice Rigden. prin-
cipal of the Lincoln School, who was
head of the organization formed in OF
tawa to assist in the passage OF the
teachers pension law several years
ago.
Miss Rigden explained how she had
attended the hearing held in Chicago
March of the pension laws commits.
sion. She explained how the pension
law was in danger of being repealed
or 50 changed as to make it undo
sirable, if not useless. In order t.
put the law on Il sound financial bash
it is necessary to pass senate bill n,
1876, which provides for an annua
appropriation of one-Gfth of mill in
stead of one.tenth of a mill, as is now
given.
The original teachers pension bill
called for an appropriation OF one
NTH OF mill but it was thought that
one-tenth Of a mill would furnish
ample funds for a few years and then
the appropriation could be enlarged
After the subject had been thor
oughly discussed resolutions were
drawn up asking that the representa-
tiyes and senator from this district
do all in their power to keep the hi.
from being changed and TO work ftl
the one-hfth mill appropriation.
According TO the proposed plan, a,
pensions would be put on a sOunC
financial basis. A system would he
provided for taking over existing sys
TENS without money loss 10 contribu
tors. The system would not be sub
ject to change with every conyenin.
legislature. There would be state su
peryision of money and Investment
and guarantee Of paid benefits.
AS this plan is understood this sl
peryision could be done only throug
acturial science, a practical appica
ton of mathematics bearing upon nor
tality tables.
The actuary says it takes $6,n60 o.
hand for a teacher to retire al e.
years of age and have an annuity o.
pension OF 5000 a year An Ottawf
teachers amount would be $1,000 G.
hand to draw pension of $500. Thi'
tyfour hundred teachers in Illnoi
would require a fund of $127,360, 0tt
The plan proposes to fix certain benc
fits for old age, sickness, accident 0
disability. Sixty years would be tn
maximum age limit and 50 the min
mum. the earliest age at with e
teacher could retire on pension. Tn
amount Of annuity would be 40 pc
cent of the final salary, but not above
$4,000 salary. Contributions arr
compulsory and taken from salary
monthly. The ratio for teachers
? to that is. the state must con
tribute twice as much as the teacher
Every teacher retiring through rcSig
nation or dismissal will receive bacl
every cent paid in. If an old teacher
elects, she may enter on the standard
plan, or she may chose to receive the
benefits promised by the old plar
$500 a year. The time will be G.
years maximum and 80 years mini
mum, the earliest age at which {
moneys taken over by the standar
plan from the treasury of the formel
pension fund,
the teachers fund, statewide police
mems fund and statewide firemen'
fund, known as the statewide fund,
Business affairs according TO tn
new pan would be under the admin
istratiOn of a local board composed O.
three members elected by teachers
tremen and policemen and two citi
2ens appointed by Governor LOwden
with the consent Of the senate.
Present pensions under an old syg
TEN as taken over constitute and arc
liability which il will take forty
years to liquidatc and will require
greater taxation, but not as great a,
the old system if allowed to continue
according to investigation. If q
teacher wishes to retire after ten
years she may leave her money in the
fund and still retain rights to annuitt
or pension at % years Money in
vested may be left to heirs