RELATING TO PENSION FUND FOR WILMINGTON
AN ACT TO FURTHER AMEND CHAPTER 208, VOLUME 26, LAWS OF DELAWARE, AS AMENDED, ENTITLED "AN ACT TO ESTABLISH A RETIREMENT FUND FOR PENSIONING TEACHERS OF THE PUBLIC SCHOOLS IN THE CITY OF WILMINGTON, AND TO REGULATE THE COLLECTION, MANAGEMENT AND DISBURSEMENT THEREOF, BY INCREASING THE MAXIMUM AMOUNT OF THE ANNUAL CONTRIBUTIONS BY TEACHERS TO SAID FUND.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all the Members of each Branch thereof concurring therein):
Section 1. Section 2 of said Chapter 208, Volume 26, Laws of Delaware, as amended by Chapter 210, Volume 27, Laws of Delaware, as further amended by Chapter 148, Volume 43, Laws of Delaware, is further amended by striking out of paragraph 4 in said Section 2, the words "One Hundred Twenty Dollars", and the numerals "($120.00)" where such words and numerals appear in said Section, and by inserting in lieu thereof the words "Three Hundred Dollars" and the numerals "($300.00)".
Section 2. The maximum amount of the annual contributions by teachers to said Fund, as herein established, shall apply only to those teachers regularly employed by the Board of Public Education in Wilmington after the passage of this Act ; as to those teachers so employed prior to the passage of this Act, the maximum amounts of the annual contributions heretofore established, shall prevail.
The term "regularly employed" as used in this Section has reference to teachers enjoying for the first time following the passage of this Act, full and complete employment by the Board of Public Education in Wilmington as opposed to probationary employment.
Approved June 13, 1955.