72-1782. Same; retirement and payment of employees; conditions.
72-1782
72-1782. Same; retirement and payment of employees; conditions.Any such board of education employee who has been credited under therules and regulations of such board of education with an aggregate oftwenty-five years of service may be retired by such board of education. Anysuch employee so retired under the foregoing provisions of this sectionshall be entitled to receive from such retirement fund, so long as suchemployee shall live, equal monthly payments which shall aggregate fivehundred dollars per annum: Provided, however, That no one shallreceive such pension without paying into the fund therefor, by way ofassessment or otherwise, not less than the amount of the first annualpension to which such person shall be entitled. In order to make up such anamount, the board of education may provide for any deficiency by deductingthe necessary amount from the first year's pension payments in equalamounts each month.
History: L. 1941, ch. 339, § 3; June 30.