Section 42: Pension fund for the retirement of teachers

Summary

Section 42 addresses legacy teacher pension funds in cities and towns (excluding Boston) that accepted Chapter 498 of the Acts of 1908. In those jurisdictions, the pension fund for retiring public school teachers is funded by revenues assigned by the city council or by direct town appropriation. The city or town treasurer holds the fund and makes monthly payments to retirees in amounts certified by the school committee.

Statutory Text

Section 42. In any city or town, except Boston, which accepted chapter four hundred and ninety-eight of the acts of nineteen hundred and eight, the pension fund established for the retirement of teachers in the public schools shall be derived from such revenues as may be assigned thereto by the city council of a city or by direct appropriation by a town. The treasurer of the city or town shall be the custodian of the fund and shall make monthly payments therefrom to such persons and of such amounts as shall be certified to him by the school committee.