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246426 � OR161NAL TO CITY CLBRK CI� OF ST. PAUL COUNCIL 24�4.�6 � . • OFFICE OF THE CITY CLERK FILE NO. OUNCIL S LUTION—GENERAL FORM PRESENTED BY COMMISSIONE DATF RESOLVED, That pursuant to the Statutes of the State of Minnesota in such case made and provided, the Council of the City of Saint Paul hereby approves the several amendments to the By-Laws of Teachers' Retirement Fund Atleo���aation, a copy of such amendments being hereto attached, marked '�Exhibit A" and hereby incorporated herein and made part and parcel hereof, said amendments to said By-Laws of said Association having been duly adopted by the members of said Association on September 9, 1969, at the annual meeting of the members of said Association du]y called and held thereon, as set forth, ac- kno�i7iec�ed and certified to said Council under the duly acknowledged and certified statement, in proper certificate form, by Manilla P. Topdahl, as President, and by Lyle T. Farmer, as Secretary of said Teachers' Retirement Fund Association, hereto attached, marked "Exhibit B" , hereby incorporated herein as part and parcel hereof and filed herewith. G W : a � � � Q � � - � V 2 6 1969 COUNCILMEN Adopted by the Counci 19— Yeas Nays NQV 2 � 1'69 �-F�a,a�_.�— �Dalglish Approve� 19_ �� O �Meredith Tn Favor -�'etersart �prafk2 � ,��t r�, Mayor �Tedesco A gainst ;���#�:�,�xs�i�nt,���° ,� riI�I.ISHE� �(r. Viee Prosideat (Peteraon) N�V 2 9 1969 � CERTIFICATE OF AN�NDMENT OF BY-LAWS ��6� �`� ��� � OF TEACHERS' RETIRF.MENT FUND ASSOCIATION NIANILLA P. TOPDAHL, the President, and LYLE T. FARMER, the Secretary, of Teachers' Retirement Fund Association, a nonprofit corporation duly organized and existing under and by' virtue of the laws of the State of Minnesota, having its registered office in the City of ' Saint Paul, County of Ramsey, State of Minnesota, do hereby certify: I. That the Board of Trustees, acting at a regular meeting heid pursuant to due notice, at three o'clock in the afternoon of th� :�inth day of September, 1969, at the office of the Association at 555 �labasha Street in the City of Saint Paul, Adinnesota, did propose the amendment o� �the By-Laws hereinafter set forth by adopting a resolution aetting fortn the propased amendment and directing that it 'be submit�ted for adoptiori a� 4 special meeting of the members of the corporation to be held on Wednesc;:�,yy • the nineteenth day of November, 1969, at four o'clock p.m, at the TechnS.�:�:: Vocational Institute Auditorium, 235 Ma.rshall Avenue, Saint Pau3:, Af.inneso��:, and that notice thereof be given to each member entitled to vote on the proposed amendment, and to each officer and trt�stee regardless of hfs v��i�:� rights, in the manner prescribed by Zaw. II. That a written notification of the said annual meeting, stating the time, place, and purpose thereof, properly addressed according to �,:;�� last available corporate records, was mailed by the Secretary of the corporation to each member and trustee of the corporation on the thirt�e�h day of October, 1969, and that there pas enclosed with each such notice a copy,of the smendm�mt of the By-Laws proposed by the trusstees and herai_.- after set forth. � ` f ..� . � ' � • . +,�w That the members of the corporation� acting at the special ineeting held, pursuant to due notice, as aforesaid, in accordance with the requirements of the Articles of Inaorporation and of the By-Laws, at four o'elock in the afternoon of Wednesday, the nineteenth dqy of November, 1969, at the Technical Vocational Institute Auditorium, 235 Marshall Avenue, 5aint Paul, Minnesota, a quorum of the members being present in person and by pro�y, did approve the proposed amend- ment by adopting the follo�ing resolution by the affirmative vote of a majority of the members present in persooi or by pro�qr filed with the Secretary. RESOLUTION A1+�NDING BY-LAWS OF TEACHER5' RETIREMENT FUND ASSOCIATION' RESOLVED, that the by-laws of Teachers' Retirement �nd Association be amended, effective January 1, 1970, iri the following respects, to wit: I. . • That Article N, Section 2, Paragraph l, which now reads: "Paragraph 1, Current Dues. For each of the ten months constituting the normal school year, there shall be withheld by the City and paid into the treasury of the Association, as current dues: (1) on behal£ of each active member not on sabbatical leave, . an amount equal to seven per cent of that part of his month]y salary for teaching service not exceeding twelve hundred dollars; and (2) on behalf of each active member on sabbatical leave an amount equal to seven per cent of that part of his manth]tiy salary for teaching service in effect immediate],y preceding the sabbatical leave not exceeding twelve hundred dollars." ' be amended so as to read: "Paragragh 1. Current Dues. For each year of St. Paul service, there shall"be withheld by the City and paid into the treasury of the Association, as current dues: (1) on behalf of each active member not on sabbatical leave, an amount equaZ to seven per eent of his annual contract salary; and 2. �. • f • • • � (2) on behalf of each active member on sabbatical leave, an amount equal to seven per cent of his annual contract salary . that would have been �p�yable had he not been on sabbatical leave.« II. That Article N� 5ectian 2, Paragraph�2 (d), which now reads: "(�) Hack 6ues for all aecredited autside service, previous St. Paul service� mi.litary service� and governmental serv:i.ce shall be paid as follows: (1) for outside service -ten and one-half per cent of the salary received; provided, however, that if full payment is made before January 1, 1969,�the amount shall be six per cent of the salary received; ' (2) for previon.s St. Paul service performed before July 1, 1967, six per cent of the salary received, and for previous St. Paul service performed after June 30, 1967, seven per cent � of the salary received, subject in either case, to the maximwn provided in Paragraph 1 of this section; and (3) fox mi litary service and governmental service per- forn�d before 3v1,y Z, 1967, six per cent, and for military service and governmental. service performed after June 30, 1967, seven per . cent, of the salary that would have been received for such servic� ` if the member had been paid therefor at the rate of the basic salary he received for the St. Pau], service immediately preceding such service, subject, in either case, to the maxi�m provided in Paragraph 1 of this section. Back dues payable on account of outside service and previous St. Pau1 service shall be computed on the basis of the salary �' _ received for the latest years of such service; provided, however, that in the case of a person whose regular employment duri.ng any year of such servi.ce was for more than the normal school year, the amount of the back dues p�yable on account of such year shall be computed upon the basis of the salary received for the number of �months constituting the norma.l school year." , � be amended so as to read: "(d) Back dues for all accredited ot�tside sex�vice, previous St. Pau]. service, m3.litary service, and governmental service shall be paid as follows: (1) for outside service ten and one-half per cent of the salary received; provided, however, that if full payment is made before January l, 1969, the amount shall be six per cent of the salary received; (2) for previous St. Paul service p�rformed 'before Ju1y 1, 1967, six per aent of the salary received, for previous St. Paul service performed after June 30� 1967, seven per cent of I�is salary received, and ' ' �. � r ' �, . ' . . (3) for military service and governmental service perfozmed before July 1, 1967, six per cent, and for ,military and governmental service performed after June 30, 1967, and before January l, 1970, seven per cent, af the salary -that would have been received for such service if the member had been paid therefor at the rate of the basic salary he received for the St, Paul service irmnediately preceding such service subject to the former limitation of tvrelve hundred dollars a month; and for military service and governm�ntal service perforraed after January 1, 1970, seven per cent of the salary that would have been received for such service if the member had been paid therefox at the rate of the' annual contract salary he received for the St. Paul service �nediately preceding such service. Back dues payab].e on aceaunt �of ou�side service and previous St. Paul service shall be computed on the basis of the salary received for the latest years of such service," zzz. That Article N, Section 2� Paragraph 5, which now reads: "Paragraph 5. Computation of Length of Service. 7n � computing years of service to be accredited for all pensions � granted under the terms o£ the .Articles and By-Laws in effect after December 31, 19�+8, school years of eight to twelve months sha11 be cansidered as one year. When the a,ggregate of service has been so determined for all pensions granted under the terms of the Articles and By-Laws in effect after December 31, 1948, periods of less than a half year sha11 be disregarded and periods of a ha3.f year or more shall be considered as one year; provided, ' however, that the rule stated in the £irst part of this sentence shall not be applied in the case of a member whose aggregate length of service is less than the minimum number of years required for a length of service pension, for a limited service pension, or for a disability pension. Years of service accredited for pensions granted before January l, 191�9, shall not be redeterm3.ned in the manner provided in this paragraph. ! Teaching service on a half-time basis shall be accredited for one half the period of time taught on that basis." be amended so as to read; �iparagraph 5. Computation of Length of Service. In computing the length of outside service, normal school years of eight to twelve months shall be -counted as one year. In computing the number of y�ars of a mer�ber's St. Pa�l. service, ten to twelve months in a school year shall be counted as one year; periods of ' less than ten months shall be counted as a fraction of one year, the nwnerator of which 3.s the number of months of service and the de�xom�aator of which is ten. When the aggregate length of service ;�. . . . � � • , , has been determined, periods of less than one half of a year shall be disregarded and periods of one half of a year or more shall be counted as one year; provided, however, that the i�u].e stated in the first part of this sentence shall not be applied in the case of a member whose aggregate length of service is less than the minimum number of years required for a length of service pension, for a limited service pension, for a deferred pension, or for a disability pension. Years of service accredited for pensions �rantad upon the basis of ser^vic� completed.b�fore January l� 1970, shall not be recomputed in the manner provided in this paragraph. Teaching service on a half-time basis sha11 be accredited for one half of the period of time taught on that basis�rr N. Tha-t Article N, Section 3, Paragraph 2 (b), which now reads: • "(b) Appl.ications for length of service pension or limited service pen,sion shall be filed at least 30 days prior �o the date of retirement. It shall be the duty of the Secretary to present such applications, together �rith all pertinent information and records, to the Board in sufficient tim�e so that pensions may begin for the firs-t full calendar month of retirement� following the last school month of teaching service. In the case of failure on the part of the member to make application within the' time herein specified the pension shall begin as of the first full calendar month beginning not less than 30 d�ys after receipt of application." be amended so as to read: � T'(b) Except as hereinafter provided, applications for length of service pension or limited sexvice pension shall be filed at least 30 days before the date of the applicant's retirement. The SecretQ'ry shall present such applications, together with all necessary supporting data, to the Board in sufficient time so that such pensions may begin for �the first full calendar month of retirement following the last school month of teaching service. In the case of a r�ember who has not attained the age of fifty-five years or who �vishes to defer the commencement of pension payments,., the application shall be filed at least 30 days before the member will attai.n the age of fifty- five years or 'be�ore the date to which he wishes to defer -the commence- ment of pension payments, as the case may be. Tn the case of the failure nf a member to file his application within the time herein specified, pension payments sha11 begin with the first calendar month beginning no less than 30 days after the filing of the application." �z .. • • • . . � � , V. That Article N, Section 3, Paragraph 3,, which now reads: "Paragraph 3. Deferred Pensions. The annual amount of the pension p�yable to a member entitled to a deferred pension shall equal one and one-half per cent of his average salary, as herein- after defined, for each yeax of his accredited service." be amended so as to read: "Paragraph 3. Length of Service and Limited Service Pensions. The annual amount of the pension payable to a member who re-tires upon or af-�er attaining the age of sixty years sha11 equal the sum of the applicable percentages of his average salary, as � herei.nafter defi.ned, for each of the years of his accredited service shown in the followiz�g schedule: xears of Accredited Service An�licable percenta�e: (a) first ten years 1.5� per year (b) second ten years 1,?� per year (c) third ten �years 1.9� per year (d) fourth ten years 2.1� per year (e) addi-tional years none The annual amount of the pension payable to a member �rho retires before attaining the age of sixty years shall be that amount computed in accordance wi.th the next preceding sentence, reduced, however, by one-half of one per cent for each month or major fraction thereof intervening between the date upon �vhich the payment of the pension begins and the sixtieth a,nna.versary o£ the date of his. birth." VT. That Article N, Section 3, Paragraph /�, wh3.ch now reads: � . "Paragraph !�. Length of Service and Limited Service Pensions. The annual amovnt of the pension p�yable to a member who retires after attaining the ag� of sa.xty years shall equal one and one-half per cent of his average salary, as hereinafter definec� for each year o£ his accredited service, not exceeding forty years. , The annual amount of the ,length of serv3ce pension payable to a member �rho retires before attaining the age of sixty years shall equal one and one-half per cent of his average salary, as hereinafter defined, ,for each year of his aecredited service, not exceeding for�ty years, reduced, however, by one-half of one per cent for each month or major�fraction thereof intervening between the da-te of his retirement and the sixtieth anxu.versary of the date of ha.s birth." 6� ... ' � . . � . - . be a�nended so as to read: "paragraph !�. Deferred Pensions. The annual amount of the pension payable to a member entitled to a deferred pension shall be computed aceording to the formula expressed in the first sentence of Paragraph 3 of this section." VII. That Article N� Section 3, Paragraph 9� wh�-ch now reads: "Paragraph 9. Increase of Pensions of Retired Teachers. Every member who retired before January l, 1955, and who is entitled under the provisions of the Sy-Laws in effect December 1, 1954, to a full service pension, to a limited service pension, or to a disability pension, shall be entitled (i) effective January 1, 1955, to an increase of twenty per cent in the amount of his monthly pension or an increase of twenty dollars in the amount of such .pension, whichever is greater; and (ii) effective January 1, 195$, to a further increase of fifteen dollars in the amount of his monthl�y pension; In addition to tYie foregoing increases, every such member, excepting any who retired upon a f�ill service pen.sion before attaining the age of fifty-five years, shal]. be entitled, effective January 1� 1962, to a flirther increase of fifteen dollars in the amount of his monthly pension. � � In addition to the foregoing increases, every member Trho retired before January 1, i955, and who is entitled under the provisions of the bylaws in effect December l, 1954, to a full service pension, to a liraited service pension, or to a disability pension, shall be entitled, effective January 1, 196b, to a fur�ther increase . of fifteen dollars in the amount of his monthly per�sion." be amended by adding thereto the following two paragraphs; "In addition to the foregoi.ng increases, every member who retired before January 1, 1970, and who is entitled under the provisions of the bylaws in effect on December l, 1969, to a full service pension, to a limited service pension, or to a disability pension, shall be entitled, effective January 1� 1970, if he has then attained the age of seventy years, (or, i£ he has not then attained the age of seventy years, upon that first day of the month coincident trri-th or next folloi�ving the date upon which he does attain the age of seventy years) to a further increase in the amount of his monthly pension in an amount computed according to the follo�ring formula: $.0375 x y, in which x equals the number of yeaxs of his accredited service (subject to a maximum of for-ty years) and y equals the number of years for v�hich he has been receiving his pension {adjusted to the nearest f�7.1 number of years and subject to a ' maximum of twenty years). ��, ' " ,, • . . Persons receiving benefits under the former bylaw providirng for reversionary pensions and persons receiving survivors benefits shall also be entitled to increases computed in accordance with the formula expressed in the next preceding paragraph of this Paragraph 9." VIII. That the secoad paragraph oi' Article V, Section 1, which now re ads: "The term 'contribution' o£ the City of St, Paul' means an amount equal to the sum of the following; (a) an amount equal to the 'stated per cent' (as hereinafter defined) of that part of the teachers' salaries to be taken into account in computing the amount of inembers' dues (adjusted as hereinafte� provided); and � � (b) the amount required to pay the increases in the pensions of inembers who retired be£ore January 1, 1955, provided by Para- graph 9 of Section 3 of Article N, as amended.�� � be amended so as to read; "The term 'contribution of the City of St. Paul' means an amo'unt equal to the sum of the follow:ing: (a) an amount equal to the 'stated per cent' (as hereinafter defined) of that part of the teachers' salaries to be taken into account in computing the amount of inembers' dues (adjusted as hereinafter providec�� and . (b) the amount required to pay the increases in the pensions of retired members provided by Paragraph 9 of Section 3 of Article N, as smended." IX. That Article IX, Section 1, Paragraph 2, be amended by inserting therein, immediately after the definition of the term '�ACTIVE MMF.NN�ERS", a definition of the term "INACTIVE MIIVfBERS", as follows: "--TNACTTVE MEIv�ERS--members who have ceas�d to be active � members and who axe, or may become, entitled to receive benefits." �, . . , . r . • X� That Article IX, Section l, Paragraph 2, be amended by inserting therein, immediately preceding the definition of the term "Average Salary" a new definition o£ the term "Annual Contract Salary", reading as follows: "ANNTJAL CONTRAC2 SALARY - The amount earned for a school year (aoraputed �ram th� firgt dey of July to th� thirtioth day of June) for the regularly assigned position, as determined by the school code in effect for the year, but excluding any stipends for extracurricular, summer school, and evening school service." XI. That the definition of the term "Average Salary" contained ia Article IX, Section l, Paragraph 2, which now reads: "AVERAGE SALARY - An amount equal to one-fi£th of the sum of that part not exceeding twelve hundred dollars of the . monthl,y salary paid to a member for teaching service for each . of the best fifty school months of the latest one hundred school months for which a salary deduction for dues was made prior to his retirement; provided, however, that for the purpose of the computation required hereby, a member on sabbatical leave shall be deemed to have been paid during such 'leave, a monthly salary equal to that part not exceeding twelve hunflred dollars of his month]y salary for teaching service in effect immediate�y preceding the sabbatical leave." 'be amended so as to read: � "AVERAGE SALARY - An amount equal to one-fifth of the sum of the annual contract salary for the five years producing the highest average out of. the latest ten years of St. Paul service for which a salary deduction for dues was made prior to the termination of aetive service; provided, however, that for the purpose of the compu'tation required hereby, a member on sabbatical leave shall be deemed to have been paid during such leave the full amount of his annual contract salary in effect during the sabbatical leave." � ' XII. ' That the definition of the term "RETIRED N�BERS" contained in � Article IX, Section 1, ParagY�ah 2, which now .reads: 9. _ � , � � � "--RETIRED AI�ERS�m�embers retired from teaching service and and receiving or entitled to receive benefits." be amended so as to read: "--RETIRED MF�UIDERS--members retired from teaching service and receiving benefits.�� IN WIfiNF.S$ WF�REOF, the e�tid MANILLA P. TOPI7AHL and Y.Y�' �. �'AFQViER, have hereunto subscribed their names and. caused the seal of the corporation �-- to be hereto affixed this � day of November, 1969. � In Presence of: �.....� , ` �.�� �� '"� ��.�,.�� � i_ �� � � il,la P. Topdahl, Presid�nt �_ / �, (/ ,� _ � __��-�-t��r1� ����Ci,,t-�� �� / � ,. Iy� T. Fa`�rmer, Secretary (Corporate Seal) STATE OF NfINNESOTA ) ) �. COINTY OF NAMSEY ) � 0!n this -� ,day of November, 1969, before me personal�y appeared MANILLA P. TOPDAHL and LYLE T. FARMER, who, being first du�y sworn,did . depose and say that they are the President and the Secretary, respectively, of Teachers' Retiremeat Fund Association, the corporation naraed in the foregoing instrument; that the seal affixed to the instrument is the corporate seal of the corporation, 'that 'the instrument was signed and sealed on behalf. of the corporation by its express authority; and they ac'�owledged the instrument to be their free act and deed and the free act and deed o£ the corporation. - _ � _� � C.-L`' .::_F 1'. -- - r Notary Publi.c, Ra.msey County, Minnesota (Notarial Seal) N(y commission expires i/fV1AN E. PETERSON Notary Public, Ramsey County, Minn. My Commission Expires June 17, 1971 10.