Inhaltsangabe
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1916 edition. Excerpt: ...shall become operative all members of such pension corporation ' or association formed from the employees of any board of street and water commissioners who shall have served in the employ of the city in the aggregate for twenty-five years shall, upon application to the board of street and water commissioners in any such city, be retired by such board, and shall thereafter receive from the pension fund created under this act an amount annually as follows: If such employee and member of the pension association formed hereby shall have paid into said pension fund for five years, in the aggregate, all assessments required by the pension association, he shall receive as pension twenty per cent of the annual salary received by such employee at the time of his retirement, and as the number of years during which such employee has paid into the pension fund all the assessments levied by the trustees increases, the percentage of the amount of the salary received by such employee at the time of his retirement shall be increased at the rate of two per cent for each additional year over five years, until the total amount of such pension shall equal fifty per cent. of the salary received by such employee at the time of his retirement, which payment of fifty per cent of the annual salary would then be due any employee so being retired after he has made payments into the pension fund in the aggregate for twenty years. II. If any employee of the board of street and water commissioners, member of the pension association hereby authorized to be formed, shall hereafter become incapacitated, either mentally or physically, for the performance of his duties, whenever such incapacity is the result of injury received or illness incurred in the discharge of his...
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