Chap. 97.—An ACT to amend and re-enact an act entitled an act to pro-
provide a retirement fund for public school teachers, approved March
14, 1908.

Approved March 9, 1910.

1. Be it enacted by the general assembly of Virginia, That an act
entitled an act to provide a retirement fund for public school teachers,
approved March fourteenth, nineteen hundred and eight, be amended and
re-enacted so as to read as follows:

Any person, not including the division superintendents, who has
taught in the public schools of this State, may make application to be
retired and pensioned under the terms of this act, provided his case
comes under either of the two following classifications:

Class “A” shall include every person who has taught in the public
schools of this State an aggregate of at least twenty years and who has
maintained a good record and by reason of physical or mental infirmity
or old age is incapable of rendering efficient service as a teacher.

Class “B” shall include every person who has taught in the public
schools of this State for an aggregate of at least thirty years and who has
maintained a good record and has reached the age of fifty-eight years, if
aman, and fifty years, if a woman.

The State board of education is authorized, and it shall be its duty,
to place any such person on the list to be known as the “retired teachers’
list” and pay him a pension as hereinafter provided, subject to the ex-
ceptions and restrictions mentioned herein; and a careful record of the
names of the teachers pensioned under this act shall be kept by the State
board of education.

2. No applicant under class “A” shall be pensioned until, and unless,
his mental or physical disability is shown by evidence satisfactory both
to the State board of health and the State board of education, and either
of the said boards may order a special medical examination by some phy-
siclan appointed by it, the expenses not excecding five dollars in each case
of the said special examination, to be borne by the applicant, unless other-
wise directed by the State board of education.

3. Any person in either class retired under this act shall have de-
ducted from the first vear’s pension an amount equal to thirty per centum
of the average annual salary earned by such person during the last five
years he was a teacher in this State, less the amounts already contributed
to the pension fund by such person retired.
All money so deducted shall be used to create a permanent endowment
for the retirement fund, and only the income shall be used in paying pen-
sions or other current expenses.

4, The fund; whence derived.—In order to provide a fund to pension
said retired teachers, all contracts with teachers shall provide that the
chairman and the clerk of the school board, or other officers whose duty
it is to pay public school teachers, shall deduct monthly from the salary
of each teacher .in the State a sum equal to one per centum of his salary.
In order that the sum so deducted shall be promptly covered into the
treasury of the State, it shall be the duty of the State board of educa-
tion to deduct from the annual apportionment on accunt of the appro-
priation of the general assembly and the accumulated interest on the in-
vestments of the literary fund one per centum of the total amount of the
salaries of the teachers of each county, town or city, as shown by the an-
nual report of the division superintendent for the preceding year. Should
the salaries of the teachers for the current year exceed the salaries paid
the preceding year, then the State board of ducation shall deduct for the
succeeding year an additional amount sufficient to cover said excess, it
being the intention in this section of the act to provide a convenient
means of paying the pensions deducted from the teachers’ salaries into
the State treasury without having the trouble and expense of many small
remittances from a large number of clerks of district boards. All
amounts so deducted and received shall be placed by the State treasurer
to the credit of the fund to be called the “retired teachers’ fund” and an
accurate account shall be kept of all funds 80 received.

5. Appropriation.—The sum of five thousand dollars per annum is
hereby appropriated out of any money in the treasury not otherwise
appropriated to carry into effect the provisions of this act. The said
sum shall be turned over to the State board of education and deposited as
aforesaid with the State treasurer to be placed to the credit of the fund
created by section four of this act.

6. Legacies, bequests, et cetera.—All legacies, bequests and funds
derived from devises for the benefit of the teachers under this act shall
be paid over to the State board of education and shall be by it trans-
ferred, as aforesaid, to the treasurer of Virginia to be placed to the
credit of the fund provided for in sections four or seven of this act, as
may be proper to carry out the terms of the gift.

All money belonging to this fund from whatever source derived by
the State board of education shall be paid into the treasury of the State
through the office and upon the warrant of the second auditor of Vir-
ginia.

%. The State board of education shall be permitted to invest the cap-
ital and unappropriated income of the said “retired teachers’ fund,” as
provided in the eleventh subdivision of section fourteen hundred and
thirty-three of the Code, with all the powers of investment or re-invest-
ment granted by said section. And all securities belonging to said fund
shall be deposited with the second auditor for safe keeping, who shall
return with his annual report a list thereof with a statement of their
value.

Only the income of the funds received and invested under this section
shall be used in paying pensions or other current expenses.
8. What pensions to be paid.—The State board of education shall
quarterly, on the first day of January, April, July and October of each
year, issue its warrant on said fund, signed by the president and secre-
tary of said board, for the benefit of each person whose name has been
placed on said list for the quarter immediately preceding the time of
payment for a sum equal to one-eighth of the average annual salary
earned by such person during the last five years he was a teacher in the
public schools of this State. The second auditor shall issue his war-
rants to said persons accordingly. In no event, however, shall any quar-
terly pension exceed the sum of one hundred dollars: provided, that any
person whose average annual salary during the last five years he was a
teacher in the public schools of this State equaled or exceeded one thou-
sand dollars, may receive as a quarterly pension as much as one hundred
and twenty-five dollars. In the event that the available funds shall, in
the judgment of the State board of education, upon a prudent and equit-
able appropriation of the same for any quarter be insufficient to pay all
pensions due for the quarter to the full amount thereof, then the same
shall be paid pro rata according to the amount of money that is avail-
able, as aforesaid. a

9. The State board of education shall see that proper arrangements
are made for keeping an accurate account of all moneys received, in-
vested or disbursed under this act, and the superintendent of public in-
struction shall include a full statement of all the transactions of said
fund in his annual or his biennial report. The State board of education
shall require proper and sufficient bonds from the persons, or persons,
charged with the management or custody of said funds, except in the
cases of the State treasurer and second auditor, whose official bonds shall
cover the said funds, for the proper application of which they and the
sureties on their official bonds shall be liable.

10. Prior to January first, nineteen hundred and eleven, no person
shall be placed on the “retired teachers’ list” under class “A” or class
“B” unless such person shal] have taught at least one session in the
public schools of this State since July first, nineteen hundred and eight;
after January first, nineteen hundred and eleven, and prior to January
first, nineteen hundred and twelve, no person shall be placed on said
list unless such person shall have taught at least two sessions since July
first, nineteen hundred and eight; after January first, nineteen hundred
and twelve, and prior to January first, nineteen hundred and thirteen,
no person shall be placed on said list unless such person shall have taught
at least three sessions since July first, nineteen hundred and eight; after
January first, nineteen hundred and thirteen, and prior to January first,
nineteen hundred and fourteen, no person shall be placed on the pension
list unless such person shall have taught at least four sessions since July
first, nineteen hundred and eight; and after January first, nineteen
hundred and fourteen, no person shall be placed on the pension list
unless such person shall have taught at least five sessions since July first,
nineteen hundred and eight: provided, that the provisions of this sec-
tion shall not apply to any person whose application reached the State
board of education prior to July first, nineteen hundred and eight.

101%. Any person who would have been entitled to a pension under
this act under either class “A” or class “B” had it been in force prior
to July first, nineteen hundred and eight, and subsequent to July first,
nineteen hundred and two, and who retired, either voluntarily or on
account of physical disability from teaching in the public schools prior
to July first, nineteen hundred and eight, and subsequent to July first
nineteen hundred and two, and who is otherwise qualified under the
provisions of this act, shall receive under this act a pension equal to one-
tourth of the average salary earned by such person in teaching a public
school during the last five years of his service, which shall be paid as
other pensions are paid under this act and all other provisions affecting
other pensioners under this act shall apply to those pensioned under this
section.

11. The State board of education shall publish annually the retired
teachers’ list in the Virginia Journal of Education, or some other paper
selected by it, giving the name, age and quarterly pension of each person
on said list together with a statement of the class under which he is
retired.

12. In the interest of fairness and justice to all parties, the deduc-
tions provided for in section three of this act shall be made to apply to
all persons whose names have been or shall be placed on “the retired
teachers’ list,” prior to the time this law goes into effect under such rules
and regulations as may be prescribed by the State board of education.

13. The State board of education is authorized to make such further
rules and regulations as are necessary to carry out the purposes of this
act.