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PROVINCE OF BRITISH COLUMBIA SECOND REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE TEACHERS' PENSIONS… British Columbia. Legislative Assembly 1932

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 ®=
m
PROVINCE OF BRITISH COLUMBIA
SECOND REPORT
OP   THE   BUSINESS   DONE   IN
PURSUANCE   OF   THE
Teachers' Pensions Act
FOR  THE
YEAE ENDED MARCH 31ST
1931
PRINTED by
AUTHORITY OF  THE LEGISLATIVE ASSEMBLY.
VICTORIA,   B.C. :
Printed by Chakles F. Banfield,   Printer to the King's Most Excellent Majesty.
1932.
IS=
■B  To His Honour J. W. Fordham Johnson,
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 1930-31.
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 1930-31.
I have the honour to be,
Sir,
Your obedient servant,
NORMAN BAKER,
Superannuation Commissioner. TEACHERS' PENSIONS ACT.
ANNUAL REPORT, 1930-31.
REPORT OP THE BUSINESS DONE IN PURSUANCE OF THE " TEACHERS' PENSIONS
ACT" DURING THE FISCAL YEAR 1930-31.
Section 3.—The total number of Teachers contributing to the Teachers' Pensions Fund on
March 31st, 1931, was 3,922.
Section 4-—On March 31st, 1931, 207 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 5 contributors making special voluntary contributions as at March
31st, 1931.
Section 8.—Applications were considered by the Teachers' Pensions Board and Orders made
for 107 contributors, under the provisions of this section.
Section 14 (a), (b).—During the period April 1st, 1930, to March 31st, 1931, pensions were
granted by the Teachers' Pensions Board to 24 Teachers.
Section 17.—Three Teachers died, and allowances were granted to the widows in accordance
with the provisions of this section.
Section 21.—Eleven Teachers died during the year, and refunds were made to the legal
representatives.
Section 22.—Refunds amounting to $7,998.06 were made to 189 Teachers, who renounced
their rights pursuant to the provisions of this section.
Section 37.—Eleven Teachers were granted pensions pursuant to the provisions of this
section.
In presenting the Second Annual Report of the business done in pursuance of the " Teachers'
Pensions Act," I am pleased to record the continued co-operation of the various School Board
officials. This co-operation is essential to enable the Superannuation Commission to keep track
of the great number of Teachers who transfer their services from one employer to another during
the course of the teaching-year.
During this fiscal year there were six meetings of the Teachers' Pensions Board, all meetings
being held in the office of the Superannuation Commission and all members of the Board being
present at each meeting.
Many items of interest came up for discussion and in the main were satisfactorily disposed
of; thirty-eight applications for pensions were received, and after necessary investigation were
found to be in order and the applications granted.
Certain securities were purchased during the year, making the total investments held by the
Minister of Finance for the credit of the Teachers' Pensions Fund $503,873.31, and it is pleasing
to note that the interest yield on these securities has been such that at this date there is an
amount of $3,387.22 interest in excess of actual requirements pursuant to the provisions of the
" Teachers' Pensions Act."
I cannot conclude these remarks covering the administration of the Fund without a strong
recommendation that the assets and liabilities of the Teachers' Pensions Fund be subjected to
actuarial investigation at the earliest opportunity. While the scheme has only been in operation
a short time, there are now fifty-seven persons receiving allowances, and this number is likely
to increase fairly rapidly during these early years; bearing this in mind, I am of the opinion
that the above recommendation should be approved and acted upon as soon as possible.
NORMAN BAKER,
Superannuation Commissioner. S 6 BRITISH COLUMBIA.
"TEACHERS' PENSIONS ACT, 1929."
Statement of Revenue and Expenditure for the Period April 1st, 1930,
to March 31st, 1931.
Revenue.
Cash on hand, April 1st, 1930   $29,658.84
Reserve Account (section 8)   20,936.57
Teachers' contributions (section 3)    234,917.74
Provincial Government grant   25,000.00
Voluntary contributions   2,974.80
Interest on investments  14,694.79
Accrued interest on investments   5,660.32
Refund of accrued interest on investments   2,357.98
$336,201.04
Expenditure.
Refunds       $9,059.45
Allowances      $26,962.82
Less amount refunded  109.42
      26,853.40
Investment in guaranteed securities at cost—
Principal   $253,789.71
Accrued interest          2,113.29
     255,903.00
Balance—
Cash on hand, March 31st, 1931      $38,724.87
Accrued interest          5,660.32
       44,385.19
$336,201.04
Balance-sheet as at March 31st, 1931.
Assets.
Cash      $38,724.87
Investments at cost—
Principal   $484,822.90
Accrued interest   463.16
     485,286.06
Accrued interest on investments         5,660.32
$529,671.25
Liabilities.
Reserve Account (section 8)    $162,824.53
Teachers' contributions  (section 3)    342.558.23
Voluntary contributions  4,629.84
Allowance Account  16,271.43
Interest Suspense Account  3,387.22
$529,671.25 TEACHERS' PENSIONS ACT—ANNUAL REPORT, 1930-31.
S 7
TEACHERS'  PENSIONS  IN FORCE  AS  AT MARCH  31st,  1931.
Plan.
Amount per
Montb.
Armstrong, Wm. G. 	
Barron, T. J.	
Beattie, M 	
Campbell, B 	
Campbell, J. M.	
Campbell, R. H	
Christensen, C. B. 	
Clark, D. P	
Coatham, Wm. C	
Cowperthwaite, F.  M.
Dobson,  F. H.   	
Downes, Mrs. D. G. 	
Elliott, Miss A. B. 	
F'letclier, E. E	
Fullerton, Miss K. S. .
Gardner, Mrs. M.  	
Godson, Miss M. 	
Gordon,  R.  G.	
Grant, P. M 	
Hewton, Miss S 	
Homer, Miss M. S	
Jamieson, Miss A. B. .
Langley, Miss C. G. ...
Lettice, Miss E. M	
Likeman, J.   	
Lister, J. G.	
Lucas, Miss M	
Maxwell,  Alex.  M	
Moore,  S	
Murray, Miss E	
Murray, Paul  	
McAdam, J. W. -
McCallum, Miss M. ...
McCarthy, Mrs. N. .....
McDonagh,  Wm	
Macdonald, Mrs. E. B.
McDougall, Miss A. J.
McGarrigle, T. A	
McKay, Miss M. G	
MeKenzie, Miss A. B. .
MacKenzie, Mrs. L. B.
MeKenzie, Miss C. A. .
McLennan, Miss A. —
Paul, E. B 	
Robson, J. C	
Russell, Miss A	
Sallaway, J. F	
Smith, Miss M	
St. Clair, Capt. Ian ...
St. James, Miss L. A.
Stramberg, H. M. 	
Templet, Mrs. J	
Thain, Mrs. A. C	
Truswell,  Miss  M.   .. .
Whelen, Miss L	
Williams, ,T	
Yuill, Miss E. J	
S.L.
Guar. 15 yrs.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
J.L.andL.S.
S.L.     -
S.L. (W.)
J.L: and L.S.
S.L.
S.L.
S.L.
J.L. and L.S.
Guar. 5 yrs.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L. (W.)
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
Guar. 10 yrs.
S.L.
S.L.
S.L. (W.)
S.L.
•S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
. and L.S.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
S.L.
J.L.
Total.
$33.95
42.90
50.00 .
63.20
64.50
14.58
42.50
33.33
43.13
50.00
43.00
27.50
50.00
64.00
31.54
31.50
61.09
50.00
39.58
63.81
50.00
40.62
48.28
62.50
35.00
57.52
50.00
38.55
50.00
45.31
50.00
36.08
59.71
19.38
62.50
36.51
50.00
50.00
64.25
39.81
50.00
31.25
60.45
63.45
50.00
64.80
64.19
50.00
47.20
35.42
50.00
64.95
50.00
02.50
42.97
41.25
42.30
$2,716.86 S 8
BRITISH COLUMBIA.
TEACHERS' PENSIONS FUND.
Securities held as at March 31st, 1931.
Security.
Date of Maturity.
Par Value.
Alberta & Great Waterways & Railway Co.  5%  First Mortgage
Gold Debenture Bonds  	
B.C. Agricultural Credit Commission 4%%  Bonds-- .'.	
District of Burnaby 5% Bonds  	
District of Burnaby 5% Bonds  	
City of Courtenay 5% Bonds               	
City of Cranbrook 5% Bonds	
City of Cranbrook 5% Bonds          	
District of Esquimalt 5% Bonds     -	
City of Fernie 5% Bonds—  	
Greater Vancouver Water District 4%% Bonds 	
City of Kamloops 5% Bonds..      :...	
City of Kelowna 5% Bonds.—	
City of Kelowna 5% Bonds. 	
City of Nanaimo 4% Bonds - —  	
City of Nanaimo 5% Bonds .-.. - 	
City of Nelson 4%% Bonds... ..„   -..
City of Nelson 5% Bonds   	
City of New Westminster 4%% Bonds     —
City of North Vancouver 5% Bonds —
City of North Vancouver 5% Bonds	
City of North Vancouver 4%% Bonds  	
District of North Vancouver 5% Bonds    —	
District of North Vancouver 5% Bonds 	
Municipality of Oak Bay 5%  Bonds	
Municipality of Oak Bay 5%  Bonds   ...
Municipality of Point Grey 5% Bonds  	
City of Prince George 5%% Bonds 	
City of Prince George 5% Bonds  .'	
City of Revelstoke 5% Bonds 	
Smithers School District 5%% Serial Bonds 	
District of South Vancouver 5% Bonds..   	
District of Summerland 5% Bonds  .". .'.
City of Trail 5% Bonds	
City of Vancouver 4% Bonds     	
City of Vancouver 5% Bonds....  	
City of Vancouver 5% Bonds   	
City of Victoria 5V2% Bonds      .....
City of Victoria 5%% Bonds  	
City of Victoria 5%% Bonds..... 	
City of Victoria 5%% Bonds	
City of Victoria 5%% Bonds..... 	
City of Victoria 5% Bonds  	
Municipality of West Vancouver 5J/4% Bonds 	
Municipality of West Vancouver 4y2% Bonds...  	
Municipality of West Vancouver 4%% Bonds....  	
Municipality of West Vancouver 5% Bonds  	
Municipality of West Vancouver 5% Bonds  	
Municipality of West Vancouver 5% Bonds .'	
Municipality of West Vancouver 5% Bonds	
Wildwood School District 5%% Serial Bonds...	
Jan.
May
Jan.
Oct.
July
Dec.
July
June
March
June
Sept.
Feb.
Dec.
July
-May
June
July
June
April
Sept.
.March
Aug.
May
March
Nov.
July
March
Nov.
Sept.
Dec.
Dec.
July
Oct.
June
Feb.
July
Feb.
July
Jan.
July
Jan.
July
Feb.
Aug.
Feb.
July
Jan.
1, 1959..
1, 1941-
31, 1945..
31, 1958-
15, 1949..
1, 1944..
1, 1939..
31, 1963..
1, 1939..
1, 1969-
15, 1944.
1,
1,
1948	
1949	
20, 1950	
15, 1961	
1, 1948	
30, 1948	
1,1961	
15, 1949	
15, 1957	
1,1961	
1, 1948 -
1, 1962	
1,1940	
31,1962..  ....
1,1941	
15, 1945 -
15, 1940	
25, 1940	
15, 1936/39-
30, 1939	
1955..
1946..
1945..
1958-
1909..
1937..
10,1938-
1, 1943-
10, 1943..
21, 1944..
21, 1944..
1, 1940	
2, 1943	
2, 194S	
1, 1952	
1, 1952	
1, 1953	
1, 1962	
2, 1936/41..
$37,000.00
6,000.00
4,500.00
1,000.00
7,500.00
31,000.00
10,000.00
20,000.00
4,000.00
25,000.00
10,000.00
9,000.00
22,000.00
7,000.00
6,000.00
15,000.00
6,000.00
4,866.66
30,000.00
10,000.00
10,706.65
3,000.00
7,300.00
10,000.00
4,000.00
7,000.00
0,000.00
22,000.00
6,000.00
4,000.00
4,000.00
22,000.00
0,500.00
1,000.00
20,000.00
15,000.00
1,000.00
1,000.00
1,000.00
4,000.00
1,000.00
5,000.00
9,000.00
5,000.00
44,000.00
4,000.00
2,000.00
4,000.00
2,000.00
6,000.00
$503,873.31
VICTORIA,   B.C. :
Printed by Chaiii.es F. Banfield,  Printer to the King
1932,
475-232-8206
Most Excellent Majesty.

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