Jasper County Democrat, Volume 17, Number 90, Rensselaer, Jasper County, 17 February 1915 — A Teachers’ Retirement Pension Proposed. [ARTICLE]

A Teachers’ Retirement Pension Proposed.

A teachers' pension bill,, now pending in the legislature, is apparently meeting with considerable favor over the •state and it is thought will be passed at the present session. it is stipulated that every city of , l: oii.oiKJ or more is to be a unit; th v it every county_ls. to be a unit and the Indiana State Normal School - all be a. unit under the terms of the act. Each unit is to be'separate > com ail others. Any district designated as a unit may come under the provisions of the proposed law on petition of a majority of the teachers together with a majority of its school officials.

.Acceptance of the benefits of the proposed law is to be optional with the teachers in any unit. Any city or unit , now having a pension system may take advantage of the proposed law by paying into the state teachers’ retirement fund the money needed to carry out the provisions of the pension -law. The bill stipulates that teachers shall pay into the fund $lO a year for the first fifteen years of teaching, S2O a year for the next ten, $25 for the next ten, and S2O a year for the next five years. Any teacher may retire after thirty-five years of service and receive an annuity of S6OO. The amount of the annuity is increased to S7OO for retirement after forty years of service.

Provision is made for payment of $350 to $575 a year for disability, after twenty-five years of service and up to thirty-four yeats of service. It also provides that service in schools outside the J state, not to exceed twelve will be counted prgvid-

ed payment to cover that time is made to the retirement fund.