Evening Republican, Volume 22, Number 311, Rensselaer, Jasper County, 29 December 1919 — TEACHERS’ PENSION SYSTEM IS NEAR COLLAPSE. [ARTICLE]

TEACHERS’ PENSION SYSTEM IS NEAR COLLAPSE.

Governor James P. Goodrich yesterdav, directed that a special session the Indiana state teachers* retirement fund board be called for Saturday, January 3, to take steps looking to prgyention of financial collapse of the pension system. The action followed submission to the governor of the report of the "board for the fiscal year - ending .September 30, 1919, iq which it was shown that benefits and amounts paid out exceeded the dues collected by more than $12,000. According - to tbe-report the Vincennes unit is bankrupt, having paid out more- than SI,OOO in excess of the*&mount received. Several other uftits failed to collect as much as they had paid out. • Governor Goodrich stated yesterday that a new pension law would be one of the matters presented at the special session of the legislature. He declared that unless spme action is taken by the legislature every unit in' the state will be bankrupt in three yean. t.