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PROVINCE OF BRITISH COLUMBIA FIRST REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE TEACHERS' PENSIONS… British Columbia. Legislative Assembly 1931

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 s=
PROVINCE OF BRITISH COLUMBIA
FIRST REPORT
OF  THE   BUSINESS  DONE   IN
PURSUANCE   OF  THE
Teachees' Pensions Act
FOR  THE
YEAR ENDED MARCH 31ST
1930
TRINTED BY
AUTHORITY OF THE LEGISLATIVE  ASSEMBLY.
VICTORIA,   B.C. :
Printed by Charles F. Banfield, Printer to the King's Most Excellent Majesty.
1931.
■49  To His Honour Robert Randolph Bruce,
Lieutenant-Governor of the Province of British, Columbia.
May it please Your Honour:
The undersigned respectfully submits the Report of the business done in pursuance of the
" Teachers' Pensions Act " during the fiscal year 1929-30.
S. L. HOWE,
Provincial Secretary.
Provincial Secretary's Office,
Victoria, B.C. The Honourable S. L. Howe,
Provincial Secretary, Victoria, B.C.
Sir,—I have the honour to lay before you Report of the business done in pursuance of the
" Teachers' Pensions Act" during the fiscal year 1929-30.
I have the honour to be,
Sir,
Your obedient servant,
NORMAN BAKER,
Civil Service Commissioner. TEACHERS' PENSIONS ACT.
ANNUAL REPORT, 1929-30.
REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE " TEACHERS' PENSIONS
ACT " DURING THE  FISCAL YEAR 1929-30.
'ifhd
Section 3.—The total number of Teachers contributing to the Teachers' Pensions Fill
March 31st, 1930, was 3,664.
Section 4-—On March 31st, 1930, 200 Teachers throughout the Province were contributing
at a rate greater than 4 per cent, pursuant to the provisions of this section.
Section 6.—There were 3 contributors making special voluntary contributions as at March
31st, 1930.
Section 8.—Applications were considered by the Teachers' Pensions Board and Orders made
for 91 contributors, under the provisions of this section.
Section 14 (a), (b).—During the period April 1st, 1929, to March 31st, 1930, pensions were
granted by the Teachers' Pensions Board to 2 Teachers.
Section 17.—One Teacher died and an allowance was granted to the widow in accordance
with the provisions of this section.
Section 21.—One Teacher died during the year and refund was made to the legal representative.
Section 22.—Refunds amounting to !j,222.18 were made to 18 Teachers who renounced their
rights pursuant to the provisions of this section.
Section 37.—Six Teachers were granted pensions pursuant to the provisions of this section.
AA'ith the coming into effect of the British Columbia " Teachers' Pensions Act," a medium
has been provided for the granting of a pension to those members of the Teaching Service who
have, after long years of faithful service and devotion to duty, well earned a quiet and happy
retirement, free, as far as possible, from care and financial worries.
AAliile it is much too soon to judge the merits or demerits of the scheme as a whole, it is
gratifying to report that the administrative machinery is working smoothly and so far without
complaint.
The necessary accounting and filing systems having been installed, the work of collecting
the service records of nearly 4,000 Teachers has been completed, and the office of the Commission
is now equipped with the record (personal file and individual account) of each contributor under
the Act. Mention must be made of the co-operative spirit evinced by the various officials
responsible for the submission of the monthly salary lists and contributions to the office of
the Commission.    This co-operation is prized and appreciated.
Throughout the year eight meetings of the Teachers' Pensions Board were held, there being
many problems arising from time to time. Full attendance of the members of the Board at all
meetings is recorded. Applications for pension were received from, or on behalf of, nine members
of the Teaching Service, and after due consideration by the Board, pensions were granted in each
case. Ninety-one requests were received and dealt with, pursuant to the provisions of section 8
of the Act. This section provides that in the case of a member of the Teaching Service who was
not employed on April 1st, 1929 (the date when the Act came into effect), the Teachers' Pensions
Board may make an order granting the teacher (upon the submission of satisfactory evidence)
the status of a Teacher employed as on that date.
Certain amendments, more or less of a technical nature, intended to smooth the way of
administration, were submitted and approved during the 1930 session of the Legislature.
NORMAN BAKER,
Civil Service Commissioner. X 6 BRITISH COLUMBIA.
" TEACHERS' PENSIONS ACT, 1929."
Statement of Revenue and Expenditure for the Period April 1st, 1929,
to March 31st, 1930.
Revenue.
Reserve Account (section 8)   §132,461.49
Teachers' contributions (section 3)   112,305.07
Provincial Government grant  25,000.00
Voluntary contributions   1,700.00
Interest on investments  1,804.39
Accrued interest on investments  3,084.09
$276,355.04
Expenditure.
Refunds   $232.08
Allowances        11,638.99
Investment in guaranteed securities at cost—
Principal   $231,033.19
Accrued interest   707.85
    231,741.04
Balance—
Cash on hand, March 31st, 1930      $29,658.84
Accrued interest         3,084.09
       32,742.93
$276,355.04
Balance-sheet as at March 31st, 1030.
Assets.
Cash      $29,658.84
Investments at cost—
Principal   $231,033.19
Accrued interest   707.85
     231,741.04
Accrued interest on investments        3,084.09
$264,483.97
Liabilities.
Reserve Account (section S)  $134,846.10
Teachers' contributions (section 3)     112,049.07
Voluntary contributions          1,725.00
Allowance Account        13,876.45
Interest Suspense Account          1,987.35
$264,483.97 TEACHERS' PENSIONS ACT—ANNUAL REPORT, 1929-30.
X 7
TEACHERS' PENSIONS IN FORCE AS AT MARCH 31st, 1930.
Name.
Plan.
Amount
per Month.
Beattie, Matthew	
Clark, D. P	
Coatham, William C	
Cowperthwaite, F. M	
Downes, Mrs. D. G	
Elliott, Miss Alice E	
Gardner, Mrs. Martha	
Gordon, R. G	
Grant, Peter M	
Homer, Miss Mary S	
Lanelells, Robert	
Lettice, Miss E. M	
Lucas, Miss Mary	
Moore, Samuel	
Murray, Paul :■.	
McDonagh, William	
'McDougall, Miss A. J	
MeGarrigle, Thomas A	
MacKenzie, Mrs. L. B	
McKenzie, Miss Catherine A..
Robson, J. C	
Smith, Miss Minnie	
Stramberg, H. M	
Thain, Mrs. Annie C	
Truswell, Miss Mary	
Total	
J.L
J.L.
J.L.
S.L.
S.L.
and L.S.
S.L.
and L.S.
S.L.
and L.S.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
$50.00
26.66
'21.60
50.00
27.50
50.00
31.50
50.00
31.77
50.00
50.00
50.13
50.00
50.00
50.00
50.00
50.00
50.00
50.00
25.12
50.00
50.00
50.00
50.00
50.00
$1,114.28
TEACHERS' PENSIONS FUND.
Schedule of Investments as at March 31st, 1930.
Par Value.
Esquimalt, 5-per-cent. Bonds, due July 31st, 1963   $20,000.00
Greater Vancouver Water District, 4%-per-cent. Bonds, due 1969  25,000.00
Kelowna, 5-per-cent. Bonds, due 1949   15,000.00
Arancouver, 5-per-cent. Bonds, due 1058   20,000.00
Alberta & Great Waterways & Railway Co., 5-per-cent. Bonds, due 1959   14,000.00
Victoria, 5-per-cent. Bonds, due 1944  5,000.00
Cranbrook, 5-per-cent. Bonds, due 1944  31,000.00
AVest Vancouver, 41/2-per-cent. Bonds, due 1948   34,000.00
Nelson, 5-per-cent. Bonds, due 1948   5,000.00
City of North Vancouver, 5-per-cent. Bonds, due 1949  30,000.00
Kelowna, 5-per-cent. Bonds, due 1948   8,000.00
Nelson, 4%-per-cent. Bonds, due 1948   15,000.00
City of North Arancouver, 4%-per-cent. Bonds, due 1961   10,706.65
District of North A'aneouver, 5-per-cent. Bonds, due 1962  7,300.00
Nanaimo, 5-per-cent. Bonds, due 1961 :  6,000.00
$246,006.65
VICTORIA,  B.C. :
Printed by Chables F. Banfield, Printer to the King's Most Excellent Majesty.
1931.
625-131-37130 

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