1928 BBAGASGSSSSGSESEGSSGRGRR GRR Eo & Ge Go & G = VOL. VI, NO. 3 MAY, 1928 ie OE LIBRAR eae’ et’ Research Bulletin OF THE National Education Association SBSGABSSGSGGGaSaSaGaaaagaaanaaaanacaage The Advance of the Teacher Retirement Movement PUBLISHED BY THE RESEARCH SION OF THE NATIONAL EDUCATION ASSOCIATION 1201 SIXTEENTH STREI NOR IWES \\ INGTON Intere Wast I \ BOBS GGSSGOSGSIG SG6G66665665656606000050506000000005 |\SGG695955599999565655559559555565 & WN) OG WN) NN) NS) Ny GB NN OS BS WW) & O WS) S B OS NS) GB GB B S OB B B My) OS NS) 6 GB B @ WS ) O NS, @ O i) WS) NS) I) Hy J) WS) B i) O 6 & ) Research Bulletin of the National Education Association Published five times each year in January. March. May, September, and November by the Research Division of the National Education Association of the United States. President, CoRNELIA S. ADAIR Secretary, J. W. CRABTREE The payment of the $5.00 membership fee of the National Education Association entitles one to receive the Research Bulletin, the Journal, the Annual Volume of Ad- dresses and Proceedings, and certain other publications of the National Education Asso- ciation for one year. One dollar of each $5.00 membership fee is for a year’s subscription to the Research Bulletin. The Research Bulletin may be subscribed for separately at a subscription price of $1.00 per year. Copies may be purchased singly or in quantities at a reduced rate. Those entitled to receive the Research Bulletin regularly are asked to report at once any change of address, giving old as well as new address. Entered as second-class matter February 10. 1923, at the Post Office at Washington, D. C., under Act of August 24, 1912. Acceptance for mailing at special rate of postage provided for in Section 1103, Act of October 3, 1917, authorized February 10, 1923. Director of Research: John K. Norton. 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For further information on this subject or others affecting the work of the Research Division, address the Division of Research, National Education Association, 1201 Sixteenth Street N. W., Washington, D. C. [ 150 ] Fun Why State Tabu Roll | Why Quest Wher Select TABLE OF CONTENTS oreword Fundamental Principles of a Teacher Retirement System Membership Required of New Teachers; Optional for thos: Guaranties to Both Teacher and Public Costs Shared by Teachers and Public Amount of Deposits and Payments Stated.. Deposits of Teacher and Payments by State Concurrent with Individual Accounts Kept Retirement System on a Reserve Basis Periodic Actuarial Investigations Disability Provided For Shae ak wie ae in service service Teachers’ Accumulated Deposits Returnable in Case of Withdrawal Prior to Retirement Choice of Options Offered upon Retirement Credit Should be Allowed for Past Service Rights Under Previous Retirement Systems Saf eguarded Reciprocal Relations Between States... Retirement Board Should be Representative Personnel of Retirement Boards Prescribed Why a Sound Teacher Retirement System Increases School Efficiency A Sound Teacher Retirement Law Protects School Children from petent by Disability or Advanced Age. Teachers Rendered From Service ( yr Le Ine ith A Sound Teacher Retirement Law Tends to Attract Capable Young People Into the Teaching 0 NO ere er eee A Sound Teacher Retirement System Tends to Retain Capable A Sound Teacher Retirement System Increases the Efficiency ot Teachers in Service the Teachers A Sound Teacher Retirement System in the Long Run Means a Saving to the General Public The Adoption of a Sound Teacher Retirement System is in Accord with the Best Thought of the CT neediest a cawblee od set Pee Tre TOC State and Local Retirement Systems Now in Effect Tabulation of Main Provisions of Certain Teacher Retirement Roll Call by States as to Plans Affecting Retirement Legislation Svstems Why the Professionally Minded Teacher Supports Sound Retirement Legislation Questions and Answers Concerning Teacher Retirement Systems Where to Write Concerning Details of State and Local Retirement Systems Selected Annotated Bibliography on Teacher Retirement Systems and Related Topics [151 | 156 159 159 160 an I am a a i li hy ste t FOREWORD As early as 1884 the National Education Association advocated retirement annuities for teachers of long service. It was not until 1896 that the first state teacher retirement system was established, altho a few local systems went into effect previous to this date. During the last thirty years progress has been rapid. ‘Twenty-four states and territories, with approximately sixty percent of the teachers of the nation, have adopted state wide retirement systems open to all teachers. Seventeen other states have state or local retirement systems applicable to teachers in certain communities. “There are now few states without some form of a teacher retirement system. Just as hundreds of progressive industrial concerns have recognized that business efficiency is increased by the adoption of sound plans for the retirement of super- annuated employees, progressive state school systems are recognizing that teaching efficiency is increased by the adoption of sound plans for the retirement of teachers. We may confidently look forward to the time when every state in the union will have adopted a modern plan for the retirement of disabled or superannuated teachers. The material presented herein was prepared under the leadership of the Com- mittee on Retirement Allowances, of which Miss E. Ruth Pyrtle is chairman. The Association is glad to make it available for general circulation as an issue of the Research Bulletin. This number should be of great value to those working for sound retirement legislation. J. W. Crastree, Secretary, National Education Association. [152] I. kh € M teacl meni feaci A cient prob by ol fit tl part! E: is de tend: the 1 actm ogni: caree If th age, will allow over comp the entra rent pone upon provi comis retire thrift becon can | _1Th Xesear, iples Other Cu XXI He May, Pa Educ > The ginner: tion As Bic tireme1 Fundamental Principles of a Teacher Retirement System * (Revised and extended) I. Membership Required of New Teach- ers; Optional for Those in Service Membership should be compulsory for teachers entering the service after the enact- ment of the retirement law; optional for teachers already in service. A retirement system is primarily an efh- ciency measure. It reduces to a minimum the probability that teachers rendered inefficient by old age will continue in service. The bene- fit thus accruing to the children is likely to be partly lost if membership is optional. Early entrance into the retirement system is desirable for a number of reasons: (1) It tends to stabilize the profession and to give the teacher a professional attitude. The en- actment of a retirement system, in itself rec- ognizes that teaching offers a permanent career rather than a transient occupation; (2) If the teacher begins his deposits at an early age, a lower rate of deduction from salary will provide as large or a larger retirement allowance. The funds have a longer period over which to accumulate, and the effect of compound interest is increased. The fact that the percent of salary deducted is increased if entrance is delayed, acts as a greater deter- rent to entrance each year joining is post- poned; (3) Young people are likely to -look upon old age as too remote to require early provision, and consequently, unduly delay be- coming members; (4) Membership under a retirement system early establishes a habit of thrift; (5) Teachers already in service, by becoming members, guarantee that ail teachers can be retired upon reaching old age; (6) 1 This statement of principles represents a revision and extension of those Research Bulletin of the National Education Association, pages 69 to 73. ciples was published in the May, 1926, Research Bulletin of the National If the teacher leaves service before age of re- tirement, the deposits made by him are re- turned in the form of cash, and he has had a lesson in wise thrift; (7) Even if the turn- over of membership in the retirement system is high, the effect is to increase the ease with which an adequate reserve is built up. Some objections have been offered against requiring immediate entrance of new teach- ers? Although there are arguments to support this attitude, the weight of the evi- dence is against it. Teachers already in service should have uption as to whether they will become mem- bers of a new retirement system, this option to be exercised within a reasonably short period.* It would probably be desirable to re- quire all teachers to become members, includ- ing those already in service if it were not for the fact that those in service, not understand- ing the purposes and advantages of a retire- ment system, are likely to oppose the enact- ment if membership is made compulsory for them. It has been the experience that when proper information is issued practically all the teachers already in service enter the re- tirement system. II. Guaranties to Both Teacher and Public Retirement ages and rules should be defined and administered so as to retain teachers dur- ing efficient service and provide for their retirement when old age or disability makes The retirement allowance should be sufficient to satisfactory service no longer possible. enable the retiring teacher to live in reasonable originally published in the May, 1924, A revision of the original statement of prin Education Association, pages 98 to 113. Other statements of principles for teacher retirement systems may be found in the following references: _Cubberley, Elwood P. State School Administration. Houghton Mifflin Company, Boston, Mass., 1924. Chapter XXIV, pp. 661-662. Housman, Ida E. “A Preparatory Program for Retirement Legislation.” Educational Reyien Vol. 73, No. 5. May, 1927. pp. 284-286. Palmer, Nida P. Pension Systems for Public School Teachers. U.S. Department of the Interior, Bureau of Education, Bulletin, 1927, No. 23, Government Printing Office, Washington, D. C., pp. 48-49. * The early statements of the fundamental principles of a_teacher retirement system_included the principle that be- ginners should be exempt up until some such age as 25. tion Association, page 98 7It has been suggested that the retirement act See May, 1926, R should search Bulletin of the National Educa make teachers already in service members of the re tirement system unless they file a specific request for exemption. [ 153 ] es lc = ot se —_—s oe C Se Sea ~ ere eer by Pieanaes wr comfort, thereby removing the temptation to remain in the classroom beyond the period of efficient service. Both the teacher and the public should be assured certain definite results. Every teacher should be assured the certainty of a retire- ment allowance. Furthermore, the amount of this allowance must be adequate, so that the retired teacher can maintain a respectable standard of living. The public should have the guarantee that its Board of Education may retire teachers in- capable of effective service due to advanced age or disability. When an adequate retire- ment allowance is provided for, the Board is in a position to maintain the efficiency of its school system. Some advocate the stating of an age at which retirement is automatic and beyond which no teacher can remain in service. The general effect of such a provision is probably to increase the efficiency of the schools. In the last analysis, the benefits of a teachers’ retirement system should accrue pri- marily to the boys and girls attending our public schools. They are the ones who suffer most when teachers are retained in service after old age has impaired their effectiveness. III. Costs Shared by Teachers and Public The sums deposited by the teachers and_by the public during the period of service should be approximately equal. The cost of a retirement system should be met jointly by the teachers and by the public. The majority of recently enacted, scientific laws embody this principle. The cost of bene- fits received should be distributed approxi- mately equally between the public and the teachers. IV. Amount of Deposits and Payments Stated The deposit by the teacher and the pay- ment by the public should be stated by the organic act creating a retirement system sub- ject to adjustment in accordance with future actuarial investigation. The deposits to be made by the teacher and by the public should be definitely stated in the organic act and should continue as stated until changed by the retirement board on t! basis of actuarial investigation. ‘oo often the past definite contributions to be paid | the teacher .ave been provided for, but ¢! amount of the public’s payment has been u certain and indefinite. All future reti: ment laws should state definitely the method whereby the amounts to be deposited by t! teachers and the payments by the public a: to be determined. If this is done the exact amount of the fund which is being built is known, it can be depended upon, and ex penditures can be planned accordingly. The state should live up to the requir ments of the law that it makes for the r tirement of its teachers, just as it requires the teachers to live up to this law, and jus: as it requires banks, insurance companies, and similar institutions to live up to the law con cerning the reserves they must carry. V. Deposits of Teacher and Payments by State Concurrent with Service The teacher's contributions and the state's payments to the retirement fund should |. made regularly and concurrently during th teacher's period of service. It is important that provision be made fo: regular deposits on the part of the teacher and for regular payments by the public con currently with the time the teacher is in service. The reason difficulty is being met today in adopting sound retirement legisla- tion in some states is that the old, unsound retirement systems have not adequately pro vided for this in the past. As a result, man) of these systems are so far behind, that is, have such large accrued liabilities, that a legislature hesitates to vote the sums necessary to bring payments up to date. If the payments to the reserve fund by the state are not made con- currently with the teacher’s service, the amount later to be paid will be greatly in creased due to loss of the interest which the payments would have earned if made con- currently with service.’ It should always be insisted when a new plan is adopted that it contain a provision requiring regular payments by the state int: the reserve fund which is the basis of the part of the teacher’s retirement allowance provided by the state. 1 The interest earnings cf the state’s payments are considerably larger than the actual state appropriations in the ca [154] of most sound retirement systems. ij cour de pr shou U depe anni vidu trac part t set | VII fun nec will Ins¢ its acti sar the VI be ; its | fun ised syst cul: past the mat fixe to 1 nes: ser\ usu am the sho acti has find at « VI. Individual Accounts Kept The retirement board should cpen an ac- count with each individual teacher. Sums deposited in that should be held in trust for that teacher. Under no circumstances should the funds account by the teacher deposited by one teacher be used to pay the annuities of Each vidual must be assured that his annuity con- tract is an inviolable contract between solvent another _ teacher. indi- parties. He can be given absolute assurance this only when he knows his deposits are set aside in a trust fund for him. VII. Retirement System on a Reserve Basis An adequate and actuarially sound reserve fund should be created to guarantee that the necessary money to pay the benefits promised will be on hand at the time of retirement. A retirement system on the reserve basis is insolvent and unsound which does not carry in its reserve funds the amounts which careful actuarial calculation has determined are neces- sary to guarantee all the benefits promised by the plan. VIII. Periodic Actuariai Investigations Periodic actuarial investigations should be made of every retirement system to insure its financial soundness. The amounts to be paid into the reserve funds in order to guarantee the benefits prom- ised and other features of a sound retirement system are based upon careful actuarial cal- culations. These calculations, based upon past experience and detailed facts concerning the retirement system, constitute the best esti- mate as to what amounts and rates should be fixed. From time to time it may be necessary to revise these estimates if the financial sound- ness of the retirement system is to be pre- served. These revisions involve what are usually comparatively small changes in the amounts and rates paid in connection with the retirement system. No changes in rates should be permitted unless based upon an actuarial evaluation. When this evaluation has been made, however, such changes as the findings recommend should be put into effect at once. IX. Disability Provided For ~ A retirement allowance should be provide for disabled teachers afte ra reasonable period of service. The retirement system should protect against disability by providing for the imme- diate retirement of disabled teachers. This feature of the retirement plan should go into effect for all members for teachers after they have been a reasonable period of years. When proper physical standards are enforced at time of entrance to the profession, the cost of providing protection against disability is a comparatively small percent of the total cost of a retirement system. X. Teachers’ Accumulated Deposits Re- turnable in Case of Withdrawal From Service or Death Prior to Retirement servi é Teachers before the regular retirement age should retain rights leaving the to all moneys accumulated in their accounts. Teachers’ accumulated deposits should be re- turnable upon withdrawal from teaching serv- ice, or death prior to retirement. Each teacher’s deposit should be considered his personal property the moment it has been deposited and should be at his disposal, to- gether with interest accumulations, at any time he withdraws from teaching service. In other words, his deposit should be con- sidered a savings account until the amount is transferred into the retirement fund at the time of retirement upon an annuity. In case of death, the teacher’s deposits, together with interest accumulated, should be payable either to designated beneficiary, o: to his estate. The teacher’s deposits should be looked upon as a trust fund which belongs to the teacher, and as a means whereby every teacher is able to build up an estate. Under no circumstances should a teacher forfeit his rights in this trust fund. XI. Choice of Options Offered upon Retirement The teacher should have the opportunity to elect the manner in which he will receive the benefits represented by the accumulated value of his deposits and the state’s payments. [155] seme iets ~ — q = : una Se) . p OST ae SS pit A ’ aes : ° esi S\N SS - td . ae i Sariow iq ~ 2 4k -< LEE MW N , oe D * \\ooss \ ) / ae, i se ‘srr e/ iS ¥, ee LAID ™ SMVT LNAWAYILAY WAHOVAL TVOO'T ow ALVIS Alabama Montgomery City Jefferson County Mobile County Colorado Canon City Colorado Springs Denver Greeley Georgia Augusta Iowa Des Moines Sioux City Kansas Atchison Parsons Topeka New Hampshire Concord Manchester Nashua North Carolina New Hanover County Oregon Portland South Carolina Charleston Tennessee Chattanooga Hamilton County Knox County Nashville Texas San Antonio Utah Salt Lake City West Virginia Charleston Parkersburg Wheeling Tabulation of Main Provisions of Certain Teacher Retirement Systems A tabular statement listing the main pro- visions of a number of teacher retirement sys- tems is given in this section. ‘This tabula- tion aims to present only the principal features of the systems. ‘Those desiring additional in- formation should consult the original acts, references to which are made in each of the tabulations. The retirement systems included are gener- ally in agreement with the fundamental prin- ciples of a teachers retirement system as stated in a preceding section. They represent the practical application of the best modern theory concerning teacher retirement legislation. The tabulations do not purport to include all modern, sound plans. A few teacher retire- ment systems, equal in merit to those included, are omitted due to space limitations. Interpretation of Tabulations To clarify their meanings, the headings of each column of the tabulations are explained in greater detail in the subsequent paragraphs, the Pennsylvania law as given on the follow- ing page being used as an example. Column 1. Where act is in force and date effective. ‘This law operating in the State of Pennsylvania came into effect July 1, 1919. For further details as to its enactment, see Article LVI (5602); in The School Law of the Commonwealth of Pennsylvania, cited in column 2. Column 2. Where act is available. Those wishing to refer to the text of the Pennsyl- vania State School Employes’ Retirement Law should consult: The School Law for 1927 of the Commonwealth of Pennsylvania, issued by the Department of Public Instruction, Harrisburg. The provisions are contained in Article LVI, Sections 5601-5619, on pages 240 to 260. The act is also printed in pamphlet form with an explanatory statement. Column 3. Method of administration. The administration of the system involving such matters as funds, determination of bene fits, publication of reports, is in charge of a board of seven members. For detailed de scription of the personnel and functions of the board, see Article LVI; 5604A in The School Law, cited in Column 2. Column 4. Expenses of administration borne by. ‘The state meets all the expenses of administering the fund, that is, all over- head costs. For details, refer te citation given. Column 5. Membership optional or com- pulsory. All employees in the Pennsylvania public schools must become members of the teacher retirement system. Column 6. State's contribution to retire- ment fund income; for teachers entering service since enactment of law. In order to guarantee the part of the teacher's retirement [ 165] ~~ te HF _. 7re ~ Snes oy tie Wer Stes —useege Sl lglg nce malls lly tli athe alge. Ante pe ee ggg —epeerit ae ae TABULAR STATEMENT OF MAIN PROVISIONS a — | State's contribution to Whore act is in| Whore act | Method of [Expenses of! Kembership t ° feacher’s | Conditions far regular force aid date is avail- | administra+ adminis~ | optional or For teach- | For teach-| contribu- superannusted retirement effec.ive able tion | tration | compulsory | ers enter~- | ers in sery tion to re~ Age Term of borne by ing service|vice at dat@ tirement service since en- of enact-| fund incomes aoctment of ment of lew law 1 2 3 | 4 5 6 7 8 9 10 Pennsylvania The School [Board of 7 State Compulsory | State con- /State con- |Teccher Optional Minimum July 1, 1919 Law, 1927 |members tributes tributes contri- 62 to 70; 10 vears. article semi-aum- |semi-annu- |butes % compulsory LVIs Sec- clly to ally to of salary at 70. tion 5601- } reserve. reserve sufficient 5619, PP- Amount 2.0% of to procure 240-260, | procures total com jat 62 an Act also 1/160 of msation janmity of printed in final paid to —‘[1/160 of pamphlet salary for jell contri- final form, 1926, } each year jbutors for je@lary for with ex- of service. |service in jeach year | planatory the pweceed+of service | statement. ing year. jsince en- lactment. } | artiolu article article article artiole article article article article L¥I: 6602 LVI: LVI: LVI: LVI: LVI: LVI: LI: LI: 65044 (5606)2 =| (5605) (5606),3- (6608),5- |(5608),6. (6614), (5615) ,1. 1,2,35. 1,2- New York State | Pamphlet Board of State. Compulsory] State pays anmally to |Teacher as- | No age re Teachors August 1,1921.] issued by |7 members. for new pension accumlation sessed 4% quirement | may re- New York entrants. | fund a percent of the jof salary. for teach-| ceive al- State Optional earnable compensation |Members ers with lowance Teachers for pres- | of all teachers known j|with 35 35 years’ | after 3° Retirement ent teach-| as the normal contri- years’ total ser-| years' Board, ers. Ex- | bution and a further total ser- | vice. total ser "Education cludes percentage known as the |vice or Present vice. Law, Arti- members of| deficiency contribution,who have members Present cle 43-b. local The aggregate payments [reached with 25 members (Added by district shall be such, when age 60 years’ with 25 Le 1920, pens ion combined with the and have total years’ che 503, system re~| amounts in the pension [25 years’ service total as amended ceiving accwmlation fund, to j/total my re- service to July l, support provide for all pensiomjetate ser- tire at and new 1928). from an granted. At present vice exz- age C0. entrants State employer tims normal contributiayempt, if with 25 Teachers’ and main- | equals 2.6%, the defic-|they years’ Retirement tained un-| ifency contribution, elect not total Pund for der state | 2.5%. to con- state Public laws. tribute. service Sehool may re- Teachers". celve allowance if ace 60. Article 42 ad de Sectian Article 43 = b. Sec- ane Article 1109, i, jArticle tion 1109 = ¢ (2). article Article Article 63 = de 4S = be (a), (bd); [45 - 0. Information on HS = be 43 = de 45 = be — Section 1109 - k Section rates secured from bection Section Section — A103 (1), |] (2) (b)y [2202 (1), | secretary of the b109 =f. 1109 (1) | 1209. (2). 1101 (3). [(4)- retirement board. (1). (a). (1) (9). | 166 | 10 ¥ serv teac medi arat CERTAIN TEACHER RETIREMENT SYSTEMS - Pe ee a ee provisions for withdrawal previous to Retiremnt allowance aatieoneat regular superannuati on retirement in the case of peid by, state _ | all Disability Death gesignetion [fo teachers To teachers | ton't ea -—— or dicmis- | entering in service er’s con- Conditions |Allowauce cal service at date of | tributions since enact- enactrent | j}ment of lew of law 4. + en ee 13 =| a 15 16 | rt _—— | 10 years Allowance Estate (Teacher re~| Stite de- State de- Annuity service; secured by jor bene- [ceives hie | posits pro-| posits purchased teacher not} accum- ficiary j|accwmlated) cure an procure an by teach- over 62; lated con- |receives |savings or allowance allowance er's ac- medical tributions |teacher’s| actuarial of 1/160 of 1/160 oumlated examination, of teacher | accum- — of final pos mong | =_——— and state j|lated jin salary for cuecy SS | 6ayel amounting j|savings. an esch year each year | 1/160 of to 1/90 | of service.| of service final | of final | plus a salary for salery fur ther | @ach year mitiplied allowance | of service by mirber of 1/160 | since en- : : of final | actment. | years ser salary for | —a —— =e 4 of prior } eaiees service. 30° of fi- | nal celery. | | article article Article article article article article LVI: LVI: LVI: LVI: LVI: LVI: LVI: (56135) ,1. (6615),5- |(5612),5. )(5612),1. (5614), (5614), (5608) ,6: {a}, (bd). 3(b)- 3(d) (0). 7e}4) Fifteen Actuarial Estate Teacher Pens ion Pens ion il years’ equivalent or bene- | receives amount ing amount im: lent total state | of teacher's | ficiary | his ac- to 4 final to 3 final yf sh= services accurulated receives | cumlated average sal+ averare sal er's cu- Present savings in teach- savings. ary. Lemberg ary. Liembers|; mat eae © ye 4 > A 70 years of| 70 years of savings in P ad cumla- age with with nnuity twenty sion amount~ | ted sav- less than see than 25 , years’ ser-| ing to 1/5 ings. 25 years’ years’ total — the of final total ser- service, 8 bao of/ average vice, a pension of salary. pension of 1/100 of state ser- | Maximm 1/100 of final aver vice. rate 4/5 of final aver-| age salary Med ical the rate age salary miltiplied examina- due had re- malt iplied by number tion. tirement by number of years’ been de- of years’ total ser- ferred to total ser- vice. A age 70. vice. further Present Members pens ion of members with 25 1/140 of entitled to years’ final aver- farther state ser- age salary pension of vice re- miltiplied 1/140 of ceive such by number final aver- additional of years’ age salary pension total ser- mailtiplied needed to vice. Mem- by number make total bers with of years’ retirement 25 years’ total ser- allowance state ser- vice cer $400 per vice such tified on year. addit ional a ng tificate. a some retirement allowance $400 per Article 434 Article 43- [article |article | article 4s-| 7°" * Article de Section| b. Sectim 43 =-b.e |43 -d. be Section Article 43- 43- bd. 1109 - a 109-a (2) Section |Sectia 1109 (2) bd. Section Sectim (1). (a),(d),(c). {1109 -b |1109=» | (bd), (a). 1109 (2) 1109 (2) (d)e (a)e (bd) ,(c) (4). (ale —r at Mortrlity ax | Provision | Liability an rding jassumed for |table and shers teachers rate of ha pone jwith prioz interest | under for4 service Ine r system {+ 18 1 _20 | | Teachers | The heavy uct line [retired | Aisdilities| took's junder | acerued werd = und 4%. |former paid by | }oees | state and | jret irement | y cal dis- jeoeeee tricts with4 fs vanes | Segue,” | emoloyees. | Shete allow. aynent jances from Ajetri>uted jtheee forme |. nich 30 | jeysteme. sesee, ee jAny dalances —s we “ane |remaining is | such former aera 2 reserve 0 | [eye tone a? of totel | after all ompenratio | benefici-~ ania te we jaries mve ere of eve jdied are |paid over | tem ‘or rer Ito pre- | vice tn the! Informe- cont State-| Trece?ing i ates yerr. Lesf~ cure . - let on "New! from Sec- ‘alates Amendments | retary of le to State | pe.School . cita- “oh > Emr | then an School Em Employees column 20. ployees’ etire- Retirane xt ment Lew. | Board. Annuitant t ables on rolls te hers adopted prior to von cr by the establish t yr al board ment of rior .Ye] with system to state ser- | 4% in- be paid vice claim terest. from pen- ed «& in sion accu- other milation states r fund. An- to exceed nuity for 10 years. those re- New en- tired on trants re- full an- sceive cred nuity to it for be not prior ser- less than vice in or 4 of final | outside of average Ne. Ys state salary. not to ex- Minimam ceed 10 $400 per years for anmum. which they Allowance desire to for tose contribute. retired on disability not less than pro- port ionate amount of such min- ima, based on years’ of ser vice. Article 43-| Article 45-| Article be Section | be 1106 43 - be 1109 = 4d (1), (5)e [Section 1100 (9) 1107 (4). [ 167] a eee wn pee EE pen cerenennng Ee seeye oo tanmeall = NE allowance paid by the state, the state makes a semi-annual deposit for each school em- ployee who has entered the system since the law was passed. The deposit is sufficient, ac- cording to the rates adopted by the board, to provide the teacher when retired an allow- ance for each year of service equal to 1/160 of his final salary (the average salary for the ten years preceding his retirement). Column 7. State's contribution to retire- ment fund income; for teachers in service at TABULAR STATEMENT OF MAIN PROVISIONS OF date of enactment of law. antee an adequate retirement allowance those in service at the time the law was e: In order to gua acted, the state semi-annually contributes a reserve fund a sum which is two perce: of the total payroll of the members of ¢! retirement system during the preceding scho This is the amount necessary to mee; the obligations assumed under the act { (Als year. service prior to the law’s enactment. see, columns 16 and 19.) Where act is in| Yhere act thodof [Expenses of |iembershi; | Listrict’s contribution Teachor’s | Conditions for rem force snd date is svail- paministra- adminis- joptional orjto9 retirerent fwid income] econtribu- | su cre nuntion retir effective able tion tration jeampulsory Por teach- ror tesch- tion to rea are Teru borne by ers emter- [| cre in ser- tirerent ser ing servicefvice ot date] fund inooma Sit.ce en- of enact- cctment of rent of }__ law ; a 1 2 3 4 5 6 7 8 3 jC District of Publie - iCommiss- District Compulsory] District pays anaually Amount Options1 at | To re Columbia Noe lll - /ioners of @ percent of the salary | deducted 62. Re- allows January 15, 66th Con- /District of of all members to pro- sufficient | tirecent mus t 1920. Asend- eress (H. |Columbia; vide portion of eimity | at 44 to | corvulsory | served ment of June 11,) R. 5616.) three in paid by state both for | purchase wt 70 unless | District 1926, effective | “An Act number. service prior to en- ammpuity 2/3 of public July 1, 1926. For the actrent of law and to equal to Boord of schools Retirement new entr-nts in system. | 1% of Uducetion since of Publie- averule wold re- are school annual tain tedch- Teechers 6c lary er for in the during food of District 10 years service. @ Colum ingied La~- dia,” Sec- tely pre- tions 1-19. ceding re- Approved tirencent Jamary 15, for each 1920. yes of Amendr.ent service of Jum 11, since 1926, effect- June 30, ive Jaly 1, 1926. 1926, in Max iru “By-Laws deduction and Bules e% of of the ammul Board of salery. Education Salury of the over District of $2,000 Columbia, not cm- 1926. sivered. (Public - No. 373 - 69th Con- cress (H. nN. 12266). Sections 1-20, pd. 65 = 89. Public - No. Publie - Public - Public - Public = Mo. 373 = Jublic - Publ ie - smublic lll. Section No. 373. No. 375. No. 373. Section 7. Ko. 3753. Foe 373. He. : 19. Public - Section 164 Sectioa 15.jSections Section 1.] Section 3. Sect i Ko. 373. Seo- 1, 11. tion 20. { 168 ] Column 8. Teacher's contribution to re Column ¥. Conditions for regular super- tirement fund income. Each teacher contrib- annuation retirement: Age. ‘The teacher utes a percent of salary sufficient to provide Must be at least 62 years old to be granted the teacher at retirement an annuity equal to service retirement benefits. However, he 1/160 of his final salary (the average salary ust retire at 70. for the ten years preceding his retirement), Column 10. Condition for regular super- for each year of service since the system went annuation retirement: Term of service. Be into effect. (The particular rate is fixed for fore he is granted service retirement benefits, each teacher by the retirement board and in the teacher must have served at least ten most cases is more than three and less than years in the public schools. five percent. ) Continued on page 182) CERTAIN TEACHER RETIREMENT SYSTEMS—(Continued) ‘rovisions for withdrawal previous to regular tet ilrement 4 5 & 2 8 9 1¢ Indiana, Indiana Board of 5 | State. Compulsory |Biemmial tax levy made by | An amunt Yo age re=- | Linim May 31, 1921. School Laws, /|members. for teach- |General Assembly to cover | necessary tirement. years. 1927, Chap- ers whose (the liability of the to produce Maximum 4 ter 29, Page service be-|state for the period. three- and atta! 426. Acts of gan after (|This amount is determined | sevenths age of Indiana Gen- June 30, by an ectuarial investi- | of an an~ eral Asser~ 1921 and gation and mst produce miity of bly 1915, pe optional to|four-sevenths of an $700 to 658; 1921, those whose |ammity of {700 to teach~ | teachers page 751; service be-jers of 60 years of age of 60 years 1925, page gan before |who have served 40 years. | of age who 64; 1925, that date have ser- pp> 69, 290; until Sept. ved 40 1927, page 1, 1922. years. 440. Act Kembership with vari- again open- ous amend- ed to this ments is class of availeble teachers in in pamphlet 1923 and form. 1927. Acts of the Acts of Acts of Acts of Acts of 1921, page 755, |Acts of Acts of 192), General As- 1921, page | 1921, page | 1921, page | section 4. 1921, pace page 76 sembly of 752, secm | 75€, sec~ | 758, sec- 753, sec- stion 8. Indiana, 1921, tion 2. tion 7. tion 8. tion 4. page 751. Acts of 19235, page 64, sec- tion l. Acts of 1927, page 440, sec- tion 1. Territory of “Laws Re~ Board of 5/ Territory | Commlsory | Territory /|Territory Members Retirement | No term Hawaii lating to trustees. | of Hawaii. | for new makes an- j|makes an- contribute | optional service re- Jamary 1, 19264 the Lmploy- entrants musl contri}mal contri- | such pro- | at 60; quired. ees’ Re- after 6 bution of |bution of portion of | after Jan- tirement mont hs percent of |percent of salary as juary l, System of service. payroll to |payroll to will 1930 com the Ter- Opt ional provide provide equal, pulsory at ritory of for pres- ¢ceath bene-/death bene- | when ac- 70. Hawaii", _| ent em fit or pen-jfit or pen- | curmlated issued by ployees. sion pay- jsion pay~ to age 60, the Em able at re-jable at re- | the peusion ployees* tirement. j|tirement. due at that Retire=- On exper- j|Kakes addi- | age from ment Sys- ience of tional con- | the terri- tem of the system from|tribution torye Territory enactment j|to cover of Hawaii, to June SO, |prior ser- kay 26, 1926 rate jwice. On 1927. Act fixed at experience 55. Ses- 3.05%. of syster sion Laws from enact- 1925 (H.B. mont of law No. 396). to June 3, Sections 1926 the 1-15. jaccrued lia- bility con- tribution was fixed at act 55. j2.91% of pay- Section 6 |Foll of all (3); members» Pirst An- Act 55. Act 55. Act 55. Act 55. mal Ze- |Act 55. Sec-| Act 55. Act 55. Act 55. Section 2. Section 5.| Section 8 | Section 5 | port of tion 6 (3); | Section 8 | Section 6 | Section (2) (2). | (5). (1)(e)(b)- | the om Pirst Annual | (1). (1) (a) (1) (a) ployees’ Report of (db). Retirement |the EmJjoy- System of ees’ Retire~- the Terri- |ment System tory of of the Terri- Hawaii, tory of June 30 Hawaii, June 1926, pe 30, 1926, pp 22. 22-23. CERTAIN TEACHER RETIREMENT SYSTEMS—(Continued) Provisions for withdrawal previous sunerannmuation retirement in the to regular Retirement allowance | paid by state case of a | Disability Death | Res ienation | To teachers /|To teachers Sone itions Allowance | or dismis- | entering in service sal service at date of rv ince enact= | enactment am me iment of J of law = ‘ — = 2 is 14 a Se | it Z sears’ Pive-eighths [Estate or Teacher re- | State pays State pays tate "Azeri! ser ice; of salary bene- ceives | four- four- assumes Ann wd cal with a maxi- /ficiary lfractional | sevenths of sevenths of f - Selec exar ina- mam of $500 receives j|part of ac- | the retire- | the retire- Bev Foma le tiore per anmum for |teacher's | cummlated } ment allow- ment allow- of s Table | a disability jaccwm- jsavings for | ance. ance the f pr 4” | contiming a jlated lservice up | | teacher ser ‘ half school _ |savings jto 10 years | would have | year or longer. jand all of | received if | it after 10 all the ac- | lyears ser- | crned lia- jvioe. | bilities | had beer | j ret. | | | | | | | | | | | | | | | ts of 192ljActs of 1921, | Acts of Acts of Acts 1921, |Acte 1921, Acts 19 Acts 19 nge 762, |page 765, 1921, 1921, page 755, page 755, page 761, page 7! ction 8. |section 8. page 760 | page 754, section 4, section 4, section 8. sect i section §./section 4. | and page and page | : 762, sec- tion 8. | | t + +--+ If under age [Estate or jMember re- | Pension 1 equal | Amount as- servic at 60 race ives benef i- ceives his | equal to 140 14 f sumed for |} and mor- | yes for ordinary jciery re- jaccurmmlated | of average averare an~ teachers was| tality } : disability ceives lsavings. nual salar; 2,599,958 tables | r ve allowance member's | over last 30, adopted by} rdinary acturial accumla- | years’ ser- 1926. | Board. disability equivalent ted sav- | | years’ ser- vice miltip] Interest llowance. of his ings. If | vice milti- ed by number rate fixed| If disabil- | accumlated member had | | plied by num of years’ ser4 by law at y occured | savings in one or | | ber of years) vice since | 4%. | as acci= an anmity more years" | Service sinc@ last became } ent during | plus a pen- service, ari last became momber. In erformance | sion which additional | |a member. addition, a } | ; duty, nO | together amount } pens jon equal term of with anmity jequal to | | to wh of | service re- equajs 90% 50% of sal | avera@ze an- | uired. of we of ary earn- mal salary averige an- able dur- ver last 1 mal salary ing year | years’ ser- | | over last 10 immediately) vice mltipl | years’ ser- preceding ed by number | vice mlti- death. If of years’ | plied by num |death oo- prior eer- ber of years jcured as vice. credited. aco ident | Por acciden- ‘during per- tal disa- formance of} bility dur- /dnty, the | ing perfor- Territory | | mance of pays to | duty, an an- | beneficiary mity as pens ion | Act 55. Sec- above plus a jeqal to + | tion 4 (1). pension of average an- Pirst Annual) 66 2/3% of mal salary Report of | average an- | over last the Ex nual salary |10 years. | ployees’ Re- over last 1¢ tirerent years’ ser- | System of } vice. the Terri- | tory of Act 55. Act 55. Sec~ | Act 55. Act 55. Seo~ Act 55. Act 65. Fewa it Act 55. section 6 j|tion 6 (4) Section 6 |tion 6 (10).| Section 6 Section 6 June WO, Sectio (3) (5) 6). 8)(a)(d (2) (bd). 2} (b) (c) 1926, 6 (14). (6) ah (bd) . 8, 22. = [171] TABULAR STATEMENT OF MAIN PROVISIONS - : State's contribution to Conditions for rez 3 Where act is in| Where act |Method of Rxpenses Membership For tesche Teacher's lar superannuat ic force and date is avail- jadministra; adminie-/ optional or| For teach- | For teach- contr ibu- effective able tion tration | compulsory | ers enter-/ ers in wer-| tion to re- Age | Term of borne by ing service| vice at date} tirement service | since en- of enact- | fmd income : actment of ment of lew 4 5 <—e 2 3 4 5 & b 8 2 . 10 } New Jereay, New Jersey Board of 7| State Compulsory | Amount paid) State makes | Amount as- Optional | 35 years Sept. 1, 1919. | Schoo] Laws, | members by State to| annual com | sessed suf- 62 to 70, | present en- 1925. Chapter accumila- | tribution of ficient to compulsory) ployees 80, Public tion fund |ocertain per |procure at at 70. | der 62. Laws of 1919. sufficient | cent of the | 62 an an- Present | article to provide | payroll to | nuity of employees | XXVIII: Sec- the pension| cover cost | 1/140 of under 62 tions 526- due at time of prior and average may retire| 643 replaci of retire- | future ser- | salary mul- after 55 499-508, pp. ment. At |wice. At tiplied by years ser~ 283-520. present present number vice. Act avail- time state | time state | years ser- f able in pays 2.73% | pays 4.29% | vice; prior pamphlet, of payroll.| of payroll | service “Teachers’ to provide | credited. Pension denefite on and Annuity account of Law, prior ser- | 1922,” vice. | ' | . a | | J | i j } $ Article article article article Article Legislative Article Article Article : XXVIII: KXVIII: XXVIII: XVIII: XXVIII: Number of XXVIII: XXVIII: RAVIII: j Sec. 530 (1). Sec. 536 | Sec. D356 | Sec. 554 Sec. 5 the Educa- | Sec. 534 Sec. 532 Sec. 532 : (1), (2)- | (18), (19) | (2)¢2. (15). Bighth/ tion Bulle- | (3). (1), (2). (1). 4 ° Annual Re- {tin Vol. XI, (9). port of the |No. 6 ental “ |}Session of 1925 Chap- a the Teachersiter 167, i Pension and 296-97. , t Annuity Pand |See Annual! . of New Jersey Repo rt from July 1, |cited for : 926 to June lcol. 6 4 » 1927, P- = Ohio School Laws |Board of 5 | Part by Compulsory | State contributes a cer-|Teacher as- Optional (56 years ¥ August 6, 1919.| of Ohio, 1922)members state. liem- tain percentage of pay- |sessed 4% 60 to 70, service, Chapter 26, bers of roll to employer's ac- [of salary. or after teacher Sec. 7896-1 associa- cumlation fund. Amowmt |That earn- 36 years |60. Minis , to 7896-63 tion each covers cost of pensions |able over Service. (service ; ppe 479-506. assessed for prior and future 92,000 not | Compulsory years. ¢ Law for not to service and disability |considered. at 70 with | : State Teaci- exceed $1 allowances, Normal con- consent of ers Retire- per year. bution rate equals employer. ment System 1.82% of the payroll, to of Ohio, cover future service H 1925 avail- pensions. veficiency fi able in rate determined yearly j pamphlet. by Board, rate effective | General to date 1.75% of payroll, } : plan ap- to cover pensions for : pears in prior service. I report of the de- | ; tirement ' Board, 1920 | j -1921, | f ; State Teach- Chapter 26:|Chapter 26:|Chapter 26: | Chapter 26: Sec. 7996- |Chapter 26: Chapter 264 Chapter ? ore’ Retire- Sec. 7896= |Sec. 7896~ | Sec. 7896- | 44, Sec. 7896 | Sec. 7896~| 26: Sec. ; ment System 4e 56 (e). 22 (a), le) 436 34, 7896— | 7896-34, of Ohio Law 7696-57, 366 7896-36 : 1925, pe 3. 7896-58. iY ‘ y | [172] servi Medic exami tione Chapt 26: 3 7896= )F CERTAIN TEACHER RETIREMENT SYSTEMS—(Continued) [173] a a a 7 Provisions for withdrawal previous to Retirement allowance | Retirement | Prorision | Liability | regular sup;rannuation retirement in the case of paid by state allowance regarding | assumed for} Disability Death tesigmatior | To teachers To teacherg from teach-| teachers teachers Sa or dismis-| entering in service | er’s con- retired with prior nditions}| Allowance eal service at date of | tributions | under for-| service | since enact- enactment mer system | ment of law of law — ak —— i 12 13 a OS a be ee aes rears | Actuarial Estate or eceives ac Allowance |Pension of | Am uity in \s tate as- State as- ables service, | equivalent beneficiary | cumlated — wting 1/140 of the ac- | sumed lia- sumed cost | adopted by teacher of teach- receives |teacher’s | to 1/140 of | average |} tuarial joility for f prior the board, mder age |er's acm teacher's | savings. | average | salary equivalent | pensions service . Medi- | cumlated accumulated | } salary mul- jmultiplied | of teach- [48nd annu- eachers al ex- savings. sav ings. tiplied by by number |er's ac~ | ities grant- | credited -ination.| Purther | | number of |of years’ cummlated |ed by form with prior pension to } | years total | membership - er funds. service produce | | service. service. All 35 year not to ex- total al- | The state's | Purther service ceed 3! lowance of | | pension | pension | engage to | years 1/70 of | plus the | of 1/70 }be at least | Prior ser- average } | annuity of avoer- 2400. Lia- vice out- salary | |} must pro- age salary }bility side state multiplied vide an al- | miltiplied | amounted on | not to by number lowance for | by number | June 30, exceed 10 of years the teacher | of years 1927 to years. service. | at 62 with prior ser- "4, 300,086. Minima | | 20 years’ vice. $500 per | service of annum; or |} at least 30% of aver~ #400 per age final annum. | salary. Not | exceed 9/10 | of rate of allowance had retire- | ment been | deferred to | poh sabe 2 Yiabal Aidt ss | Sec. 532 Sec. 532 Article Article Article Article Article Article Article (1), (5) 5 (3)% le Article COVIII: | XXVIII: | XXVIII: XXVIII: | XXVIII: XXVIII: xxviri: | {15),(16 “Report XXVIII: Sec. 532 | Sece 532 =| Soc, 532 Sec. 532 | Sec. 532 Sec. 532 Sec. 532 Bighth on mn joc. 533, (6) (7)(a), | (15). (11). (4); (d), (3); (d), (4) (a). Annual Re- Actuarial | (5) 9. (db), iche 1 (5). (c). | port of Investi- | the Board gation of of Trustees the New | of the Jersey Teacher's Teachers’ Pension Pens ion ang Annuity and Annu- | Fund of N.J.| ity Fund” } from July 1, | 89 of 1926 to February | June 30,1927, 15, 1927, | } | p. Sl. pp. 26, 35 | 2 oe 7 ae 10 years | Amount Estate or Teacher re- | A pension Pension State re- Liability Based on service, equals beneficiary | ceives his equiva- equivalent | ceived from on account experience Medical |11/5% of | receives accummlated | lent to to that cities the | of 323 of other examina- | final | teacher's savings. the an- | purchased | reserve teachers teacher re- tion. average | accumilated | iInuity pur- | by teach- | values of for prior t irement salary | savings. chased by er's ac- savings. pensions service = systems, multiplied the teach- cunmlat ed granted un~ | $1,272, particular- by number | er's ac- | savings, der former | 903,24, ly that of years to- | | cwmlat ed | plus a sy stems, | New York tal ser- say in "6. pension of This used City. vice. Rate | 1 1/3% of in paying not ex- average | the allow- ] ceed 9/10 final sal- ances. of rate | | ary ml- | had re- | tiplied by tirement number been de- years prior ferred to service. | age We. ' | E Report of vhapter Chapter 26: | Chapter 26: | Chapter Chapter 26: | Chapter 26: [Chapter Chapter 26: | State Teach} Information 26: Sete | Sec. 7896- | Sec. 7896- | 26: Sec. Sec. 7896- Sec. 7896— |26: Sec. Sec. 7896- |ers Retire-| secured 7896-37. | 38 (c). 4l. 7896-40. 35 (c). 35 (b), (¢).| 7896-35 6l. ment Board | from Secre- (a). 1920-21, tary of Analysis of| Ohio State Financial Teachers‘ Statemnt, Retirement = Lnencemennapennes: SRD oss} ~~ ces TABULAR STATEMENT OF MAIN PROVISIONS @) State's contritution to et Conditions for regular | Where act is in| Where act [Method of nsee of| Membership | yetirement fra income Teacher's Supe rannusted retirewe:t force and date | is avail- /administray adminis- j optional or Por tecch- | For teach- contribu- Ace Term of effect ive able tion tration j|compulsory | ers enter- | ers in ser-| tion to re- service borne by ing service! vice at date tirerent cince en- of enact- | fund incane actcent of ment of law law | + = 1 2 3 7 5 6 7 8 i 9 10 | Connect lout General Board of State Compulsory | Stete makes appropria- Teacher con-| Teachers Kinirmm July 1, 1917 statutes [5 nem for teach= | tions from time to tributes 57 | may re- 15 years of 19186, ders. ors ap- time to cover incurred of salary. | tire at in state. Ghapters pointed pensions; in practice Minimum $25,| 60 after 57, Public after on- | a reserve is set s- meximum $100}15 years’ Acts 1919, actment side at retirerent annuity not | Service Chapters of retire- | for each teacher. to exceed | St any 61, 63, ment law. $500 at age | *6e *fter 261, 270, of 60. 35 years 318.Public service,20 Aote of of which 1921 Chap- aust have ter 358 ; been in } Chapters the state, 7 142, 214 at least . P. A. 1925, 5 preced- : and 223, “ag oe ’ 259 P. A. tirement. : : 1927. Retirement § Connecti- compulsory . cut School at 70. ; Doc. Ho. ; 5-1922 : Chapter { XVI; Sec. ; 223-236 r p- 89-99. ’ Text es priated in aa booklet . | ; Sebool fora, "Con- Sohool School School School Decume at School |School School Bit Dogume nt nectiout |D0cument Document [Documut | No. B- 1922; Sec. Document Document § |Docuwent . Ho. 5-122; Teachers’ [30+ 5 Noe B= — tio E~ 226, (3); pe 9- Ko. 6 koe 5= koe 5 i} Sec. 224; Retirement |29223 1922; 1922; 1922; /1922; 922; pe 89. System.” Sec. 225; Sec. 226; |Sece 224; Sec. 226, Sec. 227; OC. 227; pe 90. (1), pe 91 pe 89. (2); Pe 91- |p. 92,95. « 94. t 926 ; 4 . a t —_ j ; Minneapolis See Board of City of Comulscry| Amount dependent on S&H of teach |Ko required No required ; ‘ January 1, deposit |nine mem | Minneapo- [for all teacher's salar, and er's salarysinee to re~ |term of d 1924. dvook bers. lis. teachers term of service. ceive am service. } issued by over age Compensation over mity pur- “4 Minnea- 25. 45,000 disregarded. chased by polis teecher's Teachers’ accumilated Retire- savings. ment City’s de- ; Pund nosits not } Assoc- payable ¢ fation, until j pp. 4-21; tencher is l@ also “A 50 veare of : Brief Ae 3 Analyeis A of the ¢4 New Minn- ; e@apolis ! Teachers’ q Retire- f ment Plan”. Annual Report, 1924, Min- ; neapolis ; Teachers’ 3 Retiremnt ticle Vs} article Vs/article Article VIII: (4). article Article IVs/article I”: : Pund Associa- . (3). Iv# (1), VIIIs (3). | (5): arti- | (5). tion, p. 6. (2), (3). cle IX:(3). [1 74] 10 ye servi ke dic: exami tion. Schoo. Docum lioe & 1922; Sec. | pe 92 Contr butor fund five years artic XI: { CERTAIN TEACHER RETIREMENT SYSTEMS—(Continued) ovistons for withdrawal previous to ‘Retirerent allowance if om octets T a regular superannuation retirement in the case of paid by state ~ Dimability | . : a Retirement | Crovision | Liabilit iNortality | - ; Death Resignation |To teachers | To teachers/ allowance rerverdine jacsumed for table and ‘onditions} Allowance or dismissal; entering in service |from teach-| terchers teachers | rate of i service at date of jer’s con- retired with prior interest since enact-| enactment tributions | under for-/| service j | ment of law of law | mer system — . —E 11 12 } 1s 14 | 15 16 | 17 | 18 19 | 20 ' T Teacher Annuity pur- Estate re- Teacher re- Istate | State jannuity For 40 No data. IMoClintock's under 60;| chased by | ceives ceives his j|matches | matches jpurchased | years’ with St< . 10 years teacher's teacher's | accumlated januuity annuity lby teach- service service. accumulated accurmlated | savings. | purchased purchased er’s acu teacher Medical sevings plus savings. lby teach- by teach ovmuated | rece!ves j examina~ | pension from jer’s ac~ jer's ac- eavings. | a mini | tion. state of } |oumulated | cumulated | mm pen | | 1430 of pen- |sav ings. | savings. | sion of | sion re- | | Minioum Additional | $500. } ceived had | | allowance pension to |} For 3t | teacher re- £350. | provide | years’ | tired at age | | total al- | Service | | of 60, miti- | lowanoce 4 minimus | | plied by } with min- | pension of | | mumber of } imum of | $300 | years ser- | } | $350. | vice. | | | | | | | | | | | | | | | | | | Le te | | | | | | | | | | | School School |G S Sec. G S Sec. |School School |S Chap.214 yurth Re- | Document | Document \1020 Sec. 6 1020 Sec. | Document Document =| | Sece I, port of lide S= | NO« S= jin text of 6 in text |NO« 5S= Ko. 5- av PeAe, 1925; Teachers’ | 1922; 1922; }booklet on of book~ }1922; 1922; | hap. 14e, | etire ment Sede <273| Sec. 227; Connecticut let an |Sece 227; Sec. 227; |Sece 227; | Sec. I. Board Dee. Pe 92. | pe 92. \feachers Connect i- [pe 93,83 pe 95,94; |p. 95. P. A. 1925, Sl, 1925 | jRetiremant mat Teech- | amended as srended to Dec. 31, | |\System. ere Retire- | in Chapter | in Chap.214 | 1924, Pe 6 | ment System |214, Sec. | gec.1,PeAs , Ps 925 | | | | [1-PeA» 19254 1925. * | wi, Site Becca ae | Contri- | Amount equal |3oth teach- poth teroh- reel wance purchased anmuity | allowmoe | Teacher McOlintock's | butor to | to pension jer's and er's and | by city's accum- parchased | contimed credited with 4% fund for | and ammity /city'’s de- city's de- lated devosits. | by teach | as guarar | with contri-| five | payable to jiposits posits pay~ | jer's ac- | teed under | butions to years. | teacher at payable to able. City's! | cumlated former in old fund, | ace 50. lestate or deposits not! savings. | tem. City pro- | jheneficiary. paid until | | vides ad- | | teacher is | ditional 50 years of | | allowance | Age. for vast | | rervice. j | | | | | | | | | | | | | ' | | | } } | | | | | Article Article jarticle Article Article IXs (3). article Article Article Article XI: (5). XI» (5). /IXs (4). Xs (2), Xs (2). VIII: (4). | XI: (6), Vi (9) | (3). (7),(8)- [ 175 ] i anna no 0 ET ca My TABULAR STATEMENT OF MAIN PROVISIONS © [176] ‘here act is in] ‘here act |kethod of |ixpenses of|Membersiiip [tate’s comribution to | Teacher's Conditions for reral force and date | is avail- J|edministra-| adminis- | options] or fet | contr ibu- peranmuation retire effective able tion tration |comulsory for tesch- | for teach- |tion to re- ‘age)02C«*dstsésTerm cs borne by pre enter- [ers in ser- | tirerent cery ing service Vice :t dato [fund i:cone pince en- of enact- netment of | rent of lar | law | 1 2 3 4 5 6 7 € 9 10 Laryland “Maryland /Soard of State Compulsory |State con- | In sddition |Teacher Ret ire- Yo re- \ugust 1, 1927 Public five for all tributes to norma contributes | ment op- |ouired School trustees. teachers annuclly to| contrivu- oro ortion tional at /term o Lows, 1927" exceyt mom [pension accy-tion, makes jof s-lary 60; com jservic Ch. pter 8-a| bers of, mi: tion sccrued which,aceu- | puls ory 1927, ch.344 deneficiariegfund per liability vulated prior] at 70. Sections 92- of, or per- |[cent of pay7 contribu- to age 60 105, pp.65- sons elirci- [roll suffi-/| tion ror with in- 68. Act alsd ble to rem |oient to prd-te cers terest, in "Report DdDership in [vide the with prior | will pro- on a Pro- another re- jpension and| services vide an posed Plan tirerent other bene- | 4t pres- annuity for the systen fits pay- ent date equal to Retirement able. Nor- | the secrued | jonsion duc of Teach- nal contri- | Mebility at age 60 ers in the bution contribution cor service. State of effective is 3.56% Of | ceuchers | Voryleond™, to date, the payrolly 2+» 60 submitted 2.69% of with 35 by the Com- the payroll, yeurs* | mittee on a service Teachers’ exempt, if Ret irerent they clect Plan for not to con- boryland, tribute. printed at | Beltinore, Larvland | ch ter 6-A. Che ptor Chapter Che.pter Cha ter Chater Chu ter > Section 95. 6-Ae Secw [| 8-A. Sec-] C-A. Sec- B-ie Sec- és G-i. Scc- C=... Sec- | B-A. Se tion 97 tion 99 tion 94 tion 94 tion 94 tiou 99 tiou’ 96 tion 96 (1) (2). (5). (1N(2)(35)- | (3) (a) (do) (3}(#)(v) (2) (bd). (1) (2) (1) ( (c). (c). (bd). (>). New York City “The Teach- | Board of City of Compulsory City makes | Annual con4 Assecsrent pytionsal 69 Thirt.- Awust 1, 1917 | ers' Re- 7 members | New York ronthly tributions | which, if ko 70 or years' tirerent contribu- to reserve / paid until after OS vice Law", (Sec- tion to req fund in teacher years’ scm under ov tion 1092 serve fund] order to attains wice. Re-} 35. n of Greater in erder tol cover cis-| a 65 or tirerent tas New York cow r dis- ability or] com letes com wlscr.| new entra Charter, as ability or] service 35 years at 70. nts, se arended by S.rvice pens .ons of scr vice ou.- Cha ter 302 pens ions and d@ath [ vice, will, fide c of Laws of and de:th venef its together not over 1917). tenefits allowed. with ,en- 5 year Pudlished alloved. cion, pro- in pam hlet vice allow- form ty Re- ance of tirere nt the aver- Board, age salary “leachers* for last 5 Ret irerert ye rs* ser- System ¢ vice. the City of New Yorke Jet irement Law and Laws o— ection Amendm nts 1092, F. 5 to Jan. 1, (a) (1), 1927, “be (3): bd). As arended ty Chanter Section Soction Section 686 of Section 1092, ". Seetion Section | 1092, B. Section 1092, F. 2} laws of 1092, Fe H(>); 3 Sect ion 1092.A. 1092, C. 14, 1092, F. Bk, 2, 3 1092, Fo 2.13, 4 1925. (al, 20 (do), (: CEI Cha; b-A Ten ; pity Medic Becti hog2, CERTAIN TEACHER RETIREMENT SYSTEMS—(Continued) Provisions for ~ithdrawal previous to regilar Petirement allowance, Metirement [Provision Liability Mortality rannuation he e of paid by sta allowance regarding [assumed for |table end Dility Death ignation |To teachers |To teachers j|from teach- |teachers teachers rete of Conditions Allowance or dismis- entering fn service er’s con- retired with prior interest sal service at date of tributions funder for- service since enact- jenactment mer syster of law mee 12 13 a, 15 16 17 18 12 eae ——__—+----S___ Medical Actuarial Estate or | Teacher req Pensjon equal] Pensjon equal) Actuarial Pens ions State aseu- rabdles oxaination.Jequivalent of beneficiary ceives his| to of to of eyuivalent under forme? med accrued | developed Pive years® |teacher's receives accumlated averace final everage finalj of teacher's/ system con- fability, on the ervices accumlated teacher's contribu- | salary milti-+ selary milti-~+ accumilated | timed. Am-| computed to] gervice savings. In jaccumleted tiom. plied by num plied by num contribution ount remainft be $4,609, end mor- addition, a. joontribu- ber of years bor of years" in an an- ing from 942. Cost tality pension that jtions. If service sinc@ service sincg nuity. appropri- to be met by experi cnoq will provide [the member teacher last | teacher last ation for payment of of other a total allowjhad one or decane a mem] became a mem pens {ons 3.56% of thel groups of ance equal to|more years ber. ber, with a under formef payroll for | tescners. 90 percent of jservice, « further pen- act crediteR about 30 wambers of average /further suf Sjon equal tq to Pension | years, assum or dited nal salary |equal to 56 # of averems Acommilatioh ing a 3% in- with 4 miltinlied by|percent of final salary Fund. orease each mumber of averare miltiolied by year in the years’ ser- ammal sal number of ayroll. vice. Ora ary during years’ prior pens ion last ten service. that wil] years’ ! provide a service. total allow- ance equal to + of averare | final sal- ary. Allow ance not to exceed 90 percent of of aver- — "Report on a | Samesy . Proposed Plaz | maltivlied for the Reti- by number of rement of years’ credit Teachers in able se*vice * of the ‘Ttate of hed he contin Maryland," ued in servic quiadtees tev | oa SEP Ge Committee on a Teachers ' C ter Ret irement “A. Seo- Chapter Chapter 8-A. |Chapter Chapter Chapter 6-A.| Chaoter 6-A.| Chanter 6-Al Chaoter 6-4.Plan for tion 9 6-A. Sec Section 96 8-A. Sec-] 6-A. Sec-]| Section % Section 96 Seetion 96 Section 109JUaryland, tin a oe tion 96 =| tion 9% =| (2) (>). (2)(vi(ods | (2) (a). pp. 12, 15- |Soct' (6)(a)(b).] (7). rt a ban fen yeare’ Twenty per- [Estate or | Teacher Allowance Allowance actuarial Retire- All prior biorts lity pity serrice.| cent of benefic- receives amounting to| amounting equivalent | ment allow-| serrice and ser- Medical ex- | average sal~jisry re- his accu- |} of his to 3 of his | of teach- aces con- |allowed, vice poination. ary. Ifa j|ceires milated average sal-| average | er’s accu- | timued in |City assum- tables present teacher's | savings ary for last/ salary plus | milete full. ed lia- developed teacher, an jaccum- with in- five years pension com-| savings bility. from additional jlated sav-/| terest. of service. | puted at } in an expe ri ; allowance ings. If L of | annuity. of the to corer eligible ia | system. | prior ser- to ser- 25% ef voce. Max- jrice re- average sal-| imum 50% of |tirement, ary of last average sal-jrecei-es 5 years ary. Also j/amount for each | actuarial ecual to year of equivalent earnable prior of accwm- salary service, lated sav- for 6 ings in an /jmonths annuity. precediry death. bection Secticn oa Section Section Section Section Section Section Section hos2, Le 1. | 1092, M. noe2, KB. fos2, J. 1, )i09z, wm. 1, | 1092, m. 1 | 1092, 2. 2.] 1092, Fe 4,/1092. (14); 1092, ¢ 1 (a), (a), (bv). P fa), (bv). Hd). as (b),(c). (f}; P. F.4, (f); | (@). (ec); 2. nrended 4s amend- i. by Thepter ed by 686 of Chapter | laws of 686 of | 1925, laws of | 1925. | - ee Se 7 Oe ote ; ple ae alin rare TABULAR STATEMENT OF MAIN PROVISIONS op 3 a mF i | Conditions for > Where act is in Where act Method of | Exp of Memb p | State"s cantritation to | meacher's regulsr super- force and date is avail- administra adminis-| optional or| Tetirement fund oe contribu- | i tireme.t effective able tion tration | compulsory | For teach- | For teach- | tion to re- Term o j | berne by ers enter- | ers in ser| tirement | servic ing service|vice at date| fund income | since en- of enact- | actment of ment of | | __lew | Z 1 ome eal 4 5 | ee 2 8 : a Massachusetts General Laws Teacher's | State Compulsory | Annual appropriations Teacher as- (Optional (No term of July 1, 1914. relating to | retirement for new for payment of incurred |sessed from 60 to 70 | Service re | Bducat ion |board of 3 entrants. pensions 3 to 7% of | (compulsory quired, t | Bulletin of | members. salary, ac- at 70). to receive | the Dept. of | cording to | creait f |Eaucation, — rate estab~ | | Service |1927 No.4. lished by | prior to | Chapter 32, the retire- July 1,1914 pp.48-57, ment board. | the servi Law avail- Rate ef- in Massac | able in fective to | usetts at booklet date 5%. retirement "General Minimum $55 | mst amow Laws re- | Maxx izmam |to 15 yoars lating to #100. » last the Retire- } ive of ment System | | which must far Public |be contir } School |uous. Teachers," | culy 1, 1927. | | | | Chapter 32; [Chapter 15;|Chapter 32;| Chapter 32; Chapter 32; Sec. 93 (3).| Chapter 32; Chapter 324 Chapter | Sec. 7: (1). |Sec. 16 Sec. 9: (1h. Sec. 7. Sec. 9: (2) See. 10; Sec. 1 | | (1), (2). (1), (5). ‘ | | Bmployees’ Re- Chapter 411; Board of City of Compulsory | City anmmually contributeg Deduction (Optional No rewired | tirement Sys- Acts of ‘five Baltimore | for new en-/ a certain *# of the pay- | from salary 60 to 70 term of tem of the City 1924; Ordi- | trustees trants roll to reserve fund. sufficient | (Compul- service of Baltimore | mance 555. | after 6 Aggregate payment to to secure sory at January 1, 1926 Text and } months ser-| provide benefits payable| at age 60 70) } summary in | vice and for the current year. an amuity | "Report on employees | Credit for prior service.) equal to | a Proposed — already in | "Present employees” to the pension | | Retirement | service. receive allowance equal | due for } Plan for Members of | that received had the service, | | Employees | * | exist ing system been in existence of the Teachers’ at their appointment city of Ret irement Baltimore” | Fund re- } | prepared by | ceive pri- | the Salti- vileges of | | more Re~ new system | | tirement upon | Commission, | le 1925, vote far j part icipa~ tion } | | } | | Chapter Chapter Chapter gpd Chapter 411; Acts of Chapter Chapter thapter 411; Acts 411; acts (41); Acts 1l; Acts 1924; Ordinance No, 411; Acts 411; Acts | i1l;Act of 1924; of 1924; [of 1924; jof 1924; 553; Sec. 8; (3), @ of 1924; of 1924; | of 19%; ordinance | Ordinance (Ordinance / Ordinance Report, pe 14. inance Ordinance | Ordinanc No. 653. } No. 553; No. 553; No. 553; No. 553; No. 553; No. 553. Section 2. | Sec. 5; Sec. 8; Sec. 3; Sec. 8; Sec. 6; 1 Sec. 6; 1 (1), (2) (5) (1) (1) a. [ 178 J 20 3 ser teac der Chay Sec (8 Med tio’ | req tho: | dis be) for! Chay 411, of » Ord Noe | Sec, (4), CERTAIN TEACHER RETIREMENT SYSTEMS—(Continued) — + - —— - qewewenness yrovisions for withdrawal previous tw Retirement allowance / Retirement isior Liability Mortality regulsr superannustion retirement in the case of paid by estate __} all assumed far table and if Digability Death Resignation | To teachers |To teachers; from teach- teachers teachers rate of rc nditions | Allowance or dismis- enter ing jin service er's con- retired with prior interest | sal service jat date of tributions under for- service | since enact | enactment mer sy stem ment of law | of law i be 2 nosh _ | i. is i 15 16 {A oe RG NE OG OE RN 20 years Anruity pur Estate re-~ Teacher re- | Allowance | Allowance Annuity Cities and The state Ame rican service; chased by ceives ceives ac- matching | matching purchased town re- assumed perience | teacher un members’ acj teacher's | cumlated that pur- | that pur- teachers | tiring the lia- able of der age 604 cumlated accum- savings. chased by | chased by accumulated | teachers bility, the mortalit savings plug lated teacher'd¢ teachers sav ings. since 1914 amount o with 3 | additional savings. accum- | ac cunm- The excess according which has per cent | allowance | lated lated over the to pro- not been er | | from state savings. | savings. amount visions of estimated. | | equal to th¢ | Addition- necessary former | teacher's }al pension | to pro- systems with inter- | years of for prior vide the are rein est earned service mul+ | service. #500 al- bursed by t 44. tinlied by Pension lowance at the state. 1/30 of pen purchased 60 is re- Amount | gion due had by total turned in paid not teacher re- not to ex- | a lump sium to exceed tired at acq ceed the at retire- what wuld 6U having actuarial ment. have been paid 30 an- equivalent due under | nual assess- | of $500 at the present | ments, min- age 60. system. imum for each year of | service | equals 1/30 | of $250. Chapter 324 Chapter 32: Chap ter Chapter 32: | Chapter 32: Chapter 32:| Chapter 32: Chapter 3 Secretar eachers' Sec. 10; Sec. 10; 2: Sec. Sec. 11; ec. 10; Sec. 10; Sec. 10; ec. 16; f the é é (8). (9), (10). 11; (4). (1). (4). (5). (4). (1). Teachers | e@* rere | j Boer). Medical |For ordinary Member's Part of mem-| Pension Pension iat ty A 9d examina- (disanility total ac- ber"s accu- | almost equal to to be as- 1 tion, Ho |at 60 re- |cummlated | mulated wal to 1/140 of sumed bj to be adopted | require ceives ser- (savings savings de- | that pur- avera;e the City in vered by the ment for vice al- plus 50% manded. chased by | annual case of in joard | those lowance. of average employee's | salary dissolution | disabled Otherwise final sal- sav ings. mult iplied of the wil from per jannuity ary if has 1/140 ef by number Teachers ' age formance | purchased lone or average | years ser- Retirement f of duty. [by total yaore years final | vice at Fund. Value Utherwi se | savings service. salary | last date of pensions 5 years |plus fur- Accidental multiplied of member- exceeding service ther pen- death in by number ship plus funds on sion. performance of years additional account of |7otal not of duty. service | pension of Teachers’ exceed 3 Otherwise since last 1/70 of Ret irement lof average only men- date of | final sal- Fund at jannual sal- |ber's ac- membership | ary mil- July 1, lary. For curmlated | tiplied by 1925, accidental l saving Be number of $480,267. disability | years prior jactuarial | service, | equivalent |of member's | | laccumlated | |savings plus |pension | equal to | 166 2/3% of final aver- | age salary. | Chapter lchapter Chapter Chapter Chapter Chapter Chapter Report teport *hapter 411; Acta /411; Acts 411; Acts 4l1l; Acts 411; Acts 411; Acts 411; Acts by the by the 4ll; Acts of 1924; of 1924; of 1924; of 1924; of 1924; | of 1924; | of 1924; Balt imore baltimore f 1924; Ordinance | Urdinance Ord inance Ordinance Ord inance | Ordinance | Ordinance Retire- tet ire- rdinance No.’ 553; |Ho. 553; fo. 553; No. 553; Ho. 553; | Noe 583; | No. 553; | ment Com- rent Com Wo. 553. | | S@ce 6 (3)| Sec. 6; Sec. 6; Sec. 6; Sec. 6; Sec. 6; | Sec. 6; | mission misss San, | | (4), (5). | (4), (5), (8), (9). (10). 2c. (2) b, ce | (2) a | 1925, 1925, (14). (6) | pe 28 De 14. Ordinance | 553; Sec. | 9. | | = i i | i 1 [179 ] TABULAR STATEMENT OF MAIN PROVISIONS I Stcte's camtribution to Conditions for regula | Where ast is in| Yhere sot | Method of Expenses of| Membership t fu Teacher's jsuperamnust ion retirem | force ard date | ig avail- |administra-| adminis- |/optional or Por tesoh- | For teach contribu- Age Term of effective able tion tration |comulsory/ ers enter- | ers in ser- | tion to re- service borne by inc service Wwice at date tiremeat | sirce en- of enact- fund income notment of ment of law law 1 2 3 3 5 6 7 8 9 10 Tisoons ia Laws of Annuity tzpenses |Compulsory| ‘State deposits de- Teacher de- | Mo re- Yo re- July 7, 1921- | wisconsin | board of | of ad- for all termined by teacher's | posits 5° of| quired age | quired | relating 7 mobers| xinistra- | teachers contribution and total com- |to receive | term of to Common | Public tion over 25. | length of service. nensation [teacher's | service. Schools, school paid out Maximum per year since er'ct-| devosits. 1928, retiremnuy of inter- 200% of teacher's ment. ise State's ; Chapter board of | est earn- contribution not sess™eits derorits 42. 5 venders] ings of to excaod 3300, under old not wid "Teachers'| also nor-| state | plus $25 if teach- system given, until Retireneny mal schoo] retire- + er taywht 120 days credit. teacher Act”. 42.2D and univ-| amt | of more during reaones -42.54. pp, ersity rej sys tea. | current fiscal year. ace 50, : 509-5lc. r tirement | Source ® surtax on and then ; Analysis boards of incomes over $3,000. | only as i and text five | an ennuity, im svaila>dle| gem-ers ig | in pamphle— each. | | | form, prte- | a | pared by | ‘4s | the Annu- | | fty Board, | } | Madison, | | Wisconsin. | Analysis of ~=s } ter 42 Chapter iv Wisconsin ie par is 42.20, } Chapter 42. ee ae ane anes. } i State Ro- 42.265 enended, | 42-25,42. | Seetten 42.45. 42. suia). | (1,2), | B epee 7 42.29. 1925. 27,42.28. (3); 42.48 prepar : under dlreo- on tion of the { annuity | Board, pel ; iY | 3 Vermont Gene ral Teachers’ State Optional State mikes | State match+ Teachers Women 60;/ Thirt, Hh + July, 1919. Laws of retire- eppropria- | es teach- assessed not; men 65. , canoe of } 1916 of ment tions for er*s con- to exceed teaching Dt | the stete | doard of fund to prod tribution | 5% of sal- service, | | ef Vermont} five mem vide pension in annual ary, rate 20 of , ; | relating bers. ecual to en4 appropria- | fixed an- which j | to the muity pur- | tion; ad- nually by were given | Dept. of chased by ditionsl the retire- in the t Education teacher's sum appro- | ment board. state; the : with amend} accumlat- | priated for| Minirnsa $16, 5 precec- it ments ed savings. | present maximum ing re- \ = 1925. teachers. vl00 yeurly. tirement / hapter are to be | - ok consecu- we © | of 1919 _ ; replacing | sections | 1220-1231 e Pe 23-52. ; | | " Chapter 56; R Fo. 57 Acts | ef 1919 Replacing y's 5 1 iestions aay Og meg” 55. | Chap. 56; |Chap. 56; |Chap. 56; | Ghap. 56; Chap. 56] Chap. 56; | 1220-1231; ° Ne fee He 1B. 87, No. 57, No. 57 No. 57 Ko. 57 <20-1231; Acts of jicts of | acts of t gt . re se &, ; See. z fren Acts of acts of Acts of Acts of | Acts of Gene 1919, = 2918, | 299, 1919 1919, Sec g} eneral Lewes Sec. 5. Sec. 6 (3). Sec. 3 5 , . 1919 1919, 1918 Z ef 1918 with , 2 ec. 8, 8, (3) Sec. 8, Sec. 10.] Sec. 10. | anend-ents (3). Sec. 15. (1) | te 1925. / | ' [ 180 ] ow mh wo CERTAIN TEACHER RETIREMENT SYSTEMS—(Continued) provist ons for een previous to Retirement —_— O00”: ea ] |__fagular Superannuation retirvmat in the case of paid by state | Retirement Provision Liability anetices Disability Desth Resignation | To teachers/ To tinauenat a rogerting | assumed for table and Conditions | Allownnce or dismissal | entering in service | pot oe teschers teachers | rate of | | service at date of Sothens retired (with prior | interest since enact? enactment aa _ under for-| service | | ment of a of law | mer system | ' Per ae is | 14 we 16 17 1e 19 | B09 | ’ ! + | n | ed toal “25 per | Beneficia Annuity Pension Pension pos eae . : | examina / month plus | or estate” | perehases | purchased | purchased pen peice nn —_ _ + | Determined tion. other rece ives by teach- | >y accu- by accumu- | 4 oeadiee ponte - Ad by oard. age denefits hots teach- er*s accu- mulated lated de- er*é Ge ame” - ty | Pate to not Over | ane. jer's and aulated deposits posits of pea yar en Hin wer esti- | orovide "0, Vive | : - | late< mnder old meted at henefite . state's ac- savings or the the state savince. aveten ae = veers @ | ourmirted plus stat»'s) state. plus accu- ae 100 #30.000.00d es neer | reo denosits. deposits | mulation che phe apt plang | payable if | of prior ere-ted a | vossibie. | sociation. Secther to | Saeyane | continrent] Rete in disabled computa- pecceve | effect and under | tion, if fund te 4 | age 50. teacher j at pre } taught 25 age ry date, | | | | years in | schools in- eluded in state re- t (remer t | | Syaten. | ' | | | | | | Chapter 42; 42.34 Chapter Chapter Chapter 42; Chapter 42; [chapter | Chaoter | Chapter 42; Chapter Reoort of | hepert of - ou 42.50 (1). 42.49 (2), 42: 42.49 | 42: 42.49 42.49 (2). | 42; 42. Anmity | Aumity fe (3). 2). | (3); 42.52 | 51 (5) Boerd for | Board for (4). (1), (2),(3).| | fiscal fiscal | | years end years end- ing June ing June 30, 1922, | 30, 1922, { 1925, 1923, 1924, 111 | 1924, xy. ; = i 1 T —-—---— $ ————+ | 6 years Aumity se-| If a member If a member State Anmity None Acorued McClin- services | cured from | of associa- | of associa- matches equal to | liabili- tock's Medical teacher's | tion less tion less the an- that pur by teach- ties fund ith in- | examina- | total sar- | than 6 years; than 6 years | mity chased by | er's ac- created by terest at | tion may | ings and the teach- receives his | purchased teacher's swmlated board of | Sovce be re- accumlated| er'’s estate total can- by teach- accum- } Savings « Vermont | quired. contribu- | or benefic- | tribution er's ac- lated sav~| State i tions of | iary re- with 4% cumlated ings plus teachers the state | ceives only interest. savings. arbitrary | | retirement with ad- | his contri- | If a member sum fixed fund (Sec- ditional |, bution with| 6 years, by board. | | tions 1 allowance interest at | receives Total not 1: 31). a determined | 4%. If a teacher's to exceed | | draw upon by board. member 6 and state's + his | to make up Total not years, es- contr ibu- average st La n- | to exceed tate or bend tion to amma 1 | tribut ion | } average ficiary re- account salary a ae = ‘ | annual sal-| ceives totell without in- throuhout } of membe ary during accummlated terest. his entire | | entire per savings of period of | iod of ser+ teacher and service. | | vice. contr ibut lon | | | from the | } | state. | | . | Chape5hs] §6CBeze shupe S65 pe SCs Stine O65 pe S65] Cimipe L6; hapelé; ape Chap e565 Hoe 57, | Now /, Noe 57, lide 57, Woe 57, Boe 57, | Noe 57, Noe 57, Noe 57, Noe 57, Acts of Acts of Acts of Acts of Acts of Acts of Acts of Acts of Acts of Acts of ne ve 1929, we 1919, 1919, 1919, 1919, 1919, 1919, S@@- 14.) Secs. 14. Seee 15: Sec. 15, Seo. 8: Seo. 8: Sece 12: Sec. 19. Sece 12. 1, 2, 3 (1). (3). (3) (1). Sec. 13. i 181 Column 11. Provisions for withdrawal previous to regular superannuation retirement in the case of disability: Conditions. lf a teacher becomes incapacitated for service be- fore he has fulfilled the conditions for regular superannuation retirement (see Columns 9 and 10), he may be granted disability benefits providing he is not over age 62, and therefore eligible for regular retirement benefits, and that he has given ten years of service. Medi- cal examination is required to substantiate his claim. Column 12. Provisions for withdrawal previous to regular superannuation retirement ‘in the case of disability: Allowance. For dis- ability benefits, the teacher receives an allow- ance equal to 1/90 of his final salary (the average salary for the ten years preceding his retirement) multiplied by his number of years of service; the minimum disability al- lowance is 30 percent of the final salary. Column 13. Provisions for withdrawal previous to regular superannuation retirement in the case of: Death. If the teacher dies before regular retirement under the act or before he has received the sum payable to his credit, the contributions which he has made to the retirement fund and the interest accumu- lated thereon, go to his estate, or beneficiary. Column 14. Provisions for withdrawal previous to regular superannuation retirement in the case of: Resignation or dismissal. lf a teacher resigns or is dismissed from teaching service before retirement, the contributions which he has made to the retirement fund with the interest accumulated thereon, are returnable to him. Column 15. Retirement allowance paid by state; to teachers entering service since en- actment of law. A teacher entering the serv- ice after the existing retirement law became effective, receives, upon retirement, an allow ance from the state equal to | 160 of his fina! salary, for each year of service. Column 16. Retirement allowance paid |, state; to teachers in service at date of enact ment of law. A teacher employed in the school system at the time the retirement law became effective receives an allowance from the state equal to 1/160 of his final salary, for each year of service, both prior to and since the enactment of the law. Column 17. Retirement allowance from teacher's contributions. At retirement th teacher receives the annuity which the sum of his contributions to the retirement fund with the interest thereon entitles him unde: the rate adopted by the board. ‘This annuity amounts to 1/160 of his final salary for each year of service since the law went into effect. Column 18. Provision regarding teachers retired under former system. ‘Yeachers re tired under former local retirement systems continue to receive their retirement allowances from these former systems. Column 19. Liability assumed for teach ers with prior service. The obligation to teachers with prior service, amounting at thie inauguration of the system to a considerable sum, was assumed wholly by the state and local districts. It was decided to meet the deficiency by semi-annual payments to be con- tinued over a period of thirty years to a re- serve fund of two percent of the entire com- pensation made to members of the system fo: service during the preceding year. Column 20. Mortality table and rate of interest. McClintock’s tables of life expec- tancy and a four percent rate of interest on the funds were adopted by the retirement board of Pennsylvania. [ 182] lo Roll Call by States as to Plans Affecting Retirement Legislation To secure a nation-wide survey of plans now under way relative to the enactment of teacher retirement laws or the modification of previous retirement legislation, letters were sent to state superintendents of schools and to secretaries of state and local teacher retire- ment systems. ‘To secure additional informa- tion in some cases letters were also sent to secretaries of state teacher associations, and chairmen of state and local retirement commit- tees. Below is presented a brief summary of the information of the above sources, relative to plans affect- secured from one or more ing retirement legislation. Alabama.—There is no state-wide teacher retirement law in effect in Alabama. ‘The Alabama Education Association has had a committee at work on the problem of teacher retirement allowances. Local retirement sys- tems are in effect in Montgomery City, Mo- bile and Jefferson Counties. The City of Birmingham is working out a system under a law passed by the 1927 state legislature, per- mitting cities of over 100,000 population to establish retirement systems. Arizona.—A state-wide teacher retirement law is in effect in Arizona. No plans have been reported as to legislation enacted or pro- posed that would modify the system now in operation. Arkansas.—There is no teacher retire- ment law in eftect in Arkansas. ‘The Ar- kansas Education Association has included in its 1928 program the provision for a committee to study and report on the problem of teacher retirement legislation. California.—A state-wide teacher retire- ment system is in effect in California. 2 thetoas ee ce ee, 1927. Civic 58. Report on Pensions and Pension Plans, Cincinnati Chamber of Commerce. a Affairs Department. Cincinnati, Ohio. p A general report on the purposes, ee ~ — G3 types and extent of industrial pensions. The 1926. FoR EMPLOYEES.” Vol. 52, September, | World’s Work. : p. 498. i) States that pensioning ageing industrial : i workers helps corporations dispose of em- i if 59. “SounpD Pensions ‘ i ployees no longer productive, gives workers +a a sense of fair treatment and removes a :. source of community ill will. Points out as | a mistake of earlier pension system pay- ment of pensions from current earnings. i: Public Service Retirement Systems 60. “Federal Employees’ Retirement Act.” Monthly Labor Review, Vol. 26, February, 1928. pp. 37-47. Describes the general nature and develop- i ment of the Federal Employees’ Retirement : Act. Analyzes the Act of 1926 for bene- : fits allowed, source of funds, and adminis- : tration. Presents statistics of operation for the year ending June 30, 1927. 61. “Old Age Pay for Uncle Sam’s Workers.” The Literary Digest, Vol. 89, May 8, 1926. p. 14. j Quotes statements concerning suitable re- $ tirement age, to the general effect that fix- ing an age limit is undesirable. Presents [ 200 ] data on the present provisions and .\ gested revision of the Federal Employe: Retirement Act. 62. “Public Service Retirement Systems in Foreiy Countries.” Monthly Labor Review, Vol. 2 February, 1928. pp. 47-73. Presents data on public service reti: ment systems in Austria, Belgium, Czech slovakia, Great Britain, France, German and Switzerland, with a tabulation of p; visions for comparative purposes. 63. “Public Service Retirement Systems in Gr: Britain and France.” Monthly Labor Revie: Vol. 26, January, 1928. pp. 33-42. Describes retirement provisions and co. for public employees in Great Britain a: France. 64. “Public Service Retirement Systems: New Yor! and New Jersey.” Monthly Labor Revies Vol. 25, September, 1927. pp. 14-31. A description of the New York State En ployees’ Retirement System, New Jers: State Employees’ Retirement System and t! New Jersey State Teachers’ Pension and A: nuity Fund, with comparative discussion. 65. “Public Service Retirement Systems: Penns) vania.” Monthly Labor Review, Vol. 2 August, 1927. pp. 10-24. Gives data on the Pennsylvania State En ployees’ Retirement System, Pennsylvani School Employees’ Retirement System, an firemen’s, police, and municipal pensions « Philadelphia. 66. “Public Service Retirement Systems: State Em ployees.” Monthly Labor Review, Vol. 25 December, 1927. pp. 30-46. Discusses the state pensions in Main Massachusetts and Connecticut applying | all regular and permanent state employee: not covered by some other recognized pla: Pensions for Other Employed 67. BricgHaAM, Harotp F. “Pensions for Librarians The Library Journal, Vol. 51, March | 1926. pp. 267-275. Discusses benefits and administration a retirement plan for librarians particula: from standpoint of public libraries. Give: information on libraries having retireme: systems and activities of the America: Library Association in this field. 68. “Pensions for Nurses.” The Survey, Vol. ° November 15, 1926. pp. 197-198. Reports that the Harmon Foundation New York City advanced the idea of national nurses’ annuity association and « fered $50,000 toward the organization, ¢:' cational and publicity work of a self-sus- taining plan on a sound financial basis. 69. “Pensions for the Library Staff.’ (Editorial.) The Library Journal, Vol. 51, March 15, 1926. pp. 288-289. As two difficulties in the pensions, suggests the problem of the smaller library without the benefit of any system, and matter of ployees changing from one other. way of library general provision for em- library to an- Poverty from the Digest Vol 91 “Removing the Specter of Pulpit.’ The Literary December 4, 1926. p. 32. Describes pension system for workers in service of the Presbyterian Church 71. “Retirement Plans for Librarians.” The Library Journal, Vol. 52, July, 1927. pp. 696-698. A discussion of methods of establishing retirement plans for libraries and the legal status of the library retirement problem [ 201 ] } by Ss Se waher ee ee RESEARCH BULLETIN NATIONAL EDUCATION ASSOCIATION 1201 Sixteenth Street N. W. Washington, D. C. SUBSCRIPTION BLANK I wish to subscribe for one year to the Research Bulletin of the National Education Association and enclose a check, money order or cash in the amount of $1.00 covering the subscription fee for one year. RESEARCH BULLETIN NATIONAL EDUCATION ASSOCIATION ‘1201 Sixteenth Street N. W. Washington, D. C. ORDER BLANK Enclosed please find check, money order or cash in the amount of $———, for which send me the number of issues of the Research Bulletin indicated below. Street Orders not accompanied by remittance are subject to transportation charges. A special discount is offered when purchased in quantity as follows: 2 to 9 copies—10 percent 10 to 99 copies—25 percent 100 or more copies—33% percent Bulletin Ordered Number of Copies Ordered [ 202] Research Bulletins Previously Issued Facts on State Educational Needs. Vol. 1, No. 1, January, 1923. 64 pp. (Out of print.) Can the Nation Afford to Educate Its Children? Vol. 1, No. 2, March, 1923. 72 pp. (Out of print.) Teachers’ Salaries and Salary Trends in 1923. Vol. 1, No. 3, May, 1923. 116 pp. Price per copy, $1.00. Five Questions for American Education Week. Vol. 1, No. 4, September, 1923. 56 pp. (Out of print.) Facts on the Public School Curriculum. Vol. 1, No. 5, November, 1923. 48 pp. (Out of print.) Current Facts on City School Costs. Vol. 1, Nos. 1 and 2, January and March, 1924. 64 pp. (Out of print.) Teachers’ Retirement Allowances. Vol. Il, No. 3, May, 1924. 32 pp. (Out of print) Facts on the Public School for American Education Week. Vol. il, No. 4, September, 1924. 40 pp. (Out of print.) The Problem of Teacher Tenure. Vol. Il, No. 5, November, 1924. 40 pp. Price per copy, 25 cents. Public School Salaries in 1924-1925. Vol. U1, Nos. 1 and 2, January and March, 1925. 72 pp. Price per copy, 50 cents. Taking Stock of the Schools. Vol. Ul, No. 3, May, 1925. 32 pp. (Out of print.) Keeping Pace with the Advancing Curriculum. Vol I, Nos. 4 and 5, Sep- tember and November, 1925. 96 pp. Price per copy, 50 cents. The Ability of the States to Support Education. Vol. 1V, Nos. 1 and 2, Jan- uary and March, 1926. 96 pp. Price per copy, 50 cents. Efficient Teaching and Retirement Legislation. Vol. 1V, No. 3, May, 1926. 72 pp. Price per copy, 25 cents. A Handbook of Major Educational Issues. Vol. 1V, No. 4, September, 1926. 72 pp. Price per copy, 25 cents. Major Issues in School Finance—Part I. Vol. 1V, No. 5, November, 1926. 32 pp. Price per copy, 25 cents. Major Issues in School Finance—Part II. Vol. V, No. 1, January, 1927. 64 pp. Price per copy, 25 cents. Salaries in City School Systems, 1926-1927. Vol. V, No. 2, March, 1927. 64 pp. Price per copy, 25 cents. The Scheduling of Teachers’ Salaries. Vol. V, No. 3, May, 1927. 64 pp. Price per copy, 25 cents. The Advance of the American School System. Vol. V, No. 4, September, 1927. 32 pp. Price per copy, 25 cents. School Records and Reports. Vol. V, No. 5, November, 1927. 132 pp. Price per copy, 50 cents. Creating a Curriculum for Adolescent Youth. Vol. VI, No. 1, January, 1928. 80 pp. Price per copy, 25 cents. The Principal Studies His Job. Vol. VI, No. 2, March, 1928. 68 pp. Price per copy, 25 cents. Criteria for Teacher Retirement Plans 1. Is the pension system state-wide in its organization? 2. Does it allow teachers a voice in its administration ? 3. Does it place the burden of its support upon both teachers and public ? 4. Is its plan of pension financing sound? Has it been established upon an actuarial reserve basis, and does it provide for subsequent actuarial in- vestigation P 5. Has it made special provisions for meeting the problem of paying retirement allowances to those teachers already in service at the time of its establishment ? 6. Does it allow teachers in service at the time of its organization their choice in the matter of membership? 7. Does it make membership compulsory for all new entrants? 8. Does it assess such a percentage of the teacher’s salary as will pro- vide an adequate annuity after actuarial investigation and computation ? 9. Does it provide for an individual account for each teacher’s accumu- lated contributions, and are these accumulated sums regarded as the teacher’s own property, to be used only for the purchase of an annuity for her support when superannuation or disability occurs? 10. Will such accumulated assessments be returned to a teacher upon withdrawal from service or returned to her estate in the event of death occurring before retirement takes place? 11. Is retirement made, regardless of sex, upon a basis of not less than 30 years of service, and is a portion of this service required to have been rendered in city or state? 12. Is the retirement allowance ample for subsistence, and does it con- sist of a sum purchased from the accumulated contributions of the teacher and a pension from the public funds of city or state? 13. Is the annuitant given her choice of options as to whether she will accept a life annuity or a lesser sum with the privilege of having the annuity continued to a beneficiary after her death or the unused portion of her accumulated contributions paid to her heirs or to her estate? 14. Does the pension system make suitable provision for disability bene- fits ?—Palmer, Nida Pearl. Pension Systems for Public School Teachers, Bulletin 1927, No. 23. U.S. Bureau of Education, Washington, D. C., pp. 48 and 49. IHHOHOggggggggggggnggs)| —-— y ( SUNT ST NT STN TST SSS WoVa Y At