Salt Lake Tribune | 1913-09-13 | Page 16 | Retirement Fund of Teachers, $24,738

I1EIII Fill OF TEACHERS, $24,738 L. P. Judd, Secretary of Association, Asso-ciation, Submits Statement State-ment of Finances. Though loss than five years old, the Public School Teachers' Rotiremeut association as-sociation has a total of $2-l,7.')S invested and on hand, according to a statement prepared by L. P. Judd, secretary of the association, and submitted to tho retirement retire-ment commission at its regular meeting yesterday. The object oC the association is to insure in-sure its 'members competence after they reach the ago ol retirement from the school service. Fortunately for tho association the number of its teachers reaching that age has been so small to date that the fund has had fine opportunity oppor-tunity to grow. At. present the, association associa-tion 'has "jf-.'l.-J7S.ir invested in bonds paving-. 1 and (5 per cent interest, and has on hand $1200 cash, the latter amount representing ihe annual returns on the amount invested. The total receipts of the association in its five years have been $2S,07o, of which all but $17'! 2 interest on' investments, invest-ments, represents payment of the annual an-nual membership dues. From this amount there has been paid out $JlA6S.l;J to pensioners and $270.0-1 has been refunded re-funded fo members who leave the service. serv-ice. ' Under tho law of the association, members who leave the service and who consequently surrquder their rights to a retirement pension, can. upon application, appli-cation, receive back one-half tho amount thev have paid in. The commission yesterday yes-terday approved several such applications.