The Waterbury Democrat., 1945-06-09


 terms of four years, three and two years respectively from Jan. l, 1946 and their respe ective successors shall be appointed for four year terms; provided the term of office of each nlembershan continue until his suc- cessor shall be appointed and have been qualified. In no event shall any person remain 8 member of the retirement board except during the time he continues to be mem- Der of the board or body from which he was appointed or elected The members shall serve without compensation.
 "The board shall make bylaws and regulations not inconsistent with the law and provisions of the act; shall employ such actuarial medical, clerical and other services as may be necessary for the proper operation of the system. The board may designate and appoint a corporate trustee or trustees tc manage the fund and said corporate trust shall have the right to invest and reinvest the same inaccord- ance.
 "T,he board shall not be liable for any negligence, misfeasance or mal- feasance on the part of said cor porate trustee, but shall be liable only in the event that said board has been negligent in the selection and appointment of such corporate trustee. Such corporate trustee shall be paid from the fund reasonable compensation for their services ren- l dered, for managing, investing and reinvesting said fund.
 SECTION T'HREE-FTREME s AND POLICEMEN'S PENSION F'UNDS-The trustees of the fire mems pension fund and the trustees of the policemen's pension fund shall, at the effective date of this act, deliver all moneys, securities ad assets in the respective funds to the retirement board to be de- posted in the retire1nent fund. SECTION EIGHT-REINST MENT-Reinstatement of an en- ploye in the retirement system shall be conditioned upon such medical examination as the board may pre- scribe and upon payment to the retirement fund of the amounts previously withdrawn.
 SECTION NINE - YEARS OF SERVICE-In computing years of service to determine eligibility of a regular member for retirement no year shall be included in which the employe has not been in actual employment for at least nine (9) months in computing years of serv- ice to determine eligibility of a teacher member" for retirement, no year shall be included in which the employe has not been in ac- tual employment for at least 30 weeks. Time spent as a member Of any of the various city boards or in any other capacity rendering incidental service to the city shall not be included.
 SECTION ELEVEN - FORMER EMPLOYES-All pensions, retire ment benefits and death benefits, which, at the time this act shall become effective, are being paid, or are due from the city to former employees or dependents. shall be assumed by the retirement system
 SECTION SIXTEEN-LIMITA- TONS OF ACTTON-No action for amounts due under the provisions of this act shall be brought within six (6) years after the right of ac- ton shall accrue. Persons legally incapable of bringing an action when the right accrues may sue at any time within three years next after becoming legally capa- ble of instituting suit. All accounts not claimed within the said period shall remain absolutely part of the retirement system"
 AS previously stated this act be- comes effective January l, 1946.
 Contributions by the city under provisions Of this act will amount to about S327,000 annually for the next 10 years with employe con- tributions estimated as somewhat over S1OO,OOO.
 According to terms of the bill the following definitions are given Tor words used in the act Retire ment System'-shall mean a plan for retirement of employes of the city as established by this act. Re tlrement board Cor commission) shall mean the bord created for the administration of the system; Pension, shall mean a payment made to an employe or his depend ent according to the provisions of the act other than a return of contributions; Regular Member" ;" shall mean an employe covered by this act who is not a member of the state teachers retirement sys- tenn or who has not been eligible to membership in the latter system: Teacher Member" shall mean an employe covered by this act who is a member of the state teachers retirement system or has been eligi- ble for the latter system.