LB £S4, .Ms Book SECOND ANNUAL REPORT OF THE 1 O £ Michigan. Teachers' Retirement Fund. Board for The YEAR ENDING SEPTEMBER 30, 1918. FORT WAYNE PRINTING COMPANY CONTRACTORS FOR MICHIGAN 1TATE PRINTING AND BINDING FORT WAYNE. INDIANA (111 STATE OF MICHIGAN Teachers' Retirement Fund Board. Lansing, September 30, 1918. To His Excellency, Albert E. Sleeper, Governor of the State of Michigan. Sir: — In compliance with the provisions of Law, I have the honor herewith to transmit through you to the Legislature the annual report of the Teachers' Retirement Fund Board for the year ending September 30, 1918. Very respectfully, GEORGE F. ROXBURGH, Secretary, Teachers' Retirement Fund Board. jun 14 |y20 MICHIGAN TEACHERS' RETIREMENT FUND BOARD OFFICERS President J. B. Edmonson Vice President Lou I. Sigler Treasurer Samuel O'Dell State Treasurer, Ex Officio Secretary Geo. F. Roxburgh MEMBERS Term Expires President E. C. Warriner, Mt. Pleasant 1918 Mrs. Lou I. Sigler, Grand^ Rapids 1919 Prof. J. B. Edmonson, Ann Arbor 1920 Hon. Wm. F. Connolly, Detroit 1921 Hon. John W. Haarer, Lansing .- 1922 Hon. Fred L. Keeler, Lansing, State Superintendent of Public Instruction, Ex Officio. \ November 9, 1918. George F. Roxburgh, Sec'y Teachers' Retirement Fund, Lansing, Michigan. Dear Sir — We wish to advise that the balances to the credit of the Teachers' Eetirement Fund, at the close of business Sept. 30, 1918, were as follows : Balance in permanent fund . $18,590.45 Balance in temporary fund 45,368.69 Very truly yours, F. E. GORMAN, Deputy State Treasurer. November 19,. 1918. I hereby certify that the cash balance in the State Treasury to the credit of the TEACHERS' RETIREMENT FUND BOARD, at the close of business, September 30, 1918, according to an audit made by this department was as follows : Deposit Account $45,368.69 Teachers Retirement Fund 18,590.45 Total $63,959.14 Respectfully submitted, ORAMEL B. FULLER, Auditor General. By Fred Z. Hamilton, General Accountant. Note — In addition to the above balance of $63,959.14 in the State Treas- ury there is, in the hands of the Secretary, the sum of $300 for the pur- pose of meeting small disbursements by the board as shown by three certain receipts for $100 each under dates of September 29th, November 14th and December 5th, 1917 held by the State Treasurer and signed by E. T. Cameron, as Secretary of the Michigan Teachers' Retirement Fund Board. ANNUAL FINANCIAL REPORT 1917-1918, SEPTEMBER 30, 1918. Receipts: Balance on hand September 30, 1917, as per First Annual Report $ 50,531.34 Contributions for 1917-1918 to date 111,730.40 Interest on Investments 746.25 Total $163,007.99 Disbursements: Annuities $ 1,198.41 Refunds 273.01 Investments 90,419.91 Excess Corrections 188.50 Expenses 6,669.02 Total disbursements 98,748.85 Balance on hand in State Treasury $ 64,259.14 Balance on hand in Retirement Fund $ 18,590.45 Amount not checked and transferred 45,668.69 f 64,259.14 RECAPITULATION OF EXPENSES 1917-1918. Accounts: Amounts Salary of Secretary $ 1,726.57 Salary of Office Employees (Regular) 2,247.04 Traveling Expenses of Board Members 107.22 Traveling Expenses of Secretary 184.83 Stationery 219.14 Office Supplies 202.32 Postage 551.92 Telephone and Telegraph 116.23 Express, Freight, Drayage 3.22 Printing and Binding 325.69 Rent 576.00 Lighting 20.80 Insurance and official bonds 29.40 Fixtures 304.56 Miscellaneous 54.08 Total $ 6,669.02 Following is a list of the persons retired by the Retirement Fund Board and the annuity in each case : • RETIRED MARCH 16, 1918. Willis Hubbard Flint $500.00 Orinda M. Barkley Grand Rapids 500.00 Hulda R. Mercer Flint 300.00 Ella R. Towne Jackson 342.50 Georgiana Doxsie Grand Ledge 339.00 Jennie I. Randall Muskegon 354.50 RETIRED JUNE 15, 1918. Ida M. Trowbridge Decatur 300.00 Thomas R. Easterday Sault Ste. Marie 500.00 Ella P. Irish Adrian 500.00 Eli Mettetal Redford 452.25 Charles T. Grawn Detroit 500.00 Joseph Rubens Daggett 300.00 Lenna D. Warriner Battle* Creek 500.00 Orr Schurtz Negaunee 500.00 Helene Christ Grand Rapids 500.00 J. F. Goodrich Tuscola 338.00 Eva M. Sackett White Cloud 300.00 Agnes R. Ginn Grand Rapids 466.67 Lily M. Wood Detroit 300.00 Daniel C. Judson Coldwater 300.00 Margaret C. Esler Detroit 333.00 Charles O. Smith Mt. Pleasant 389.70 Etolie Davis Lawton 335.50 Mrs. W. N. Relyea Greenville 340.30 Henrietta Shirley Calumet 492.50 Ida K. George Grand Rapids 500.00 Nellie E. Parrish Muskegon 500.00 Eva Ferguson Kalamazoo 459.00 J. Verta Pond Grand Rapids 400.00 Kathryn Sterling Ludington 467.50 Hannah Roest Holland 300.00 Theresa Kerwin Detroit 318.00 RETIRED SEPTEMBER 21, 1918 Winchester Dodge Almont 380.00 Ella Barnaby Alliance, Ohio 348.52 Mary Denison Cheboygan 300.00 Susan Glass Ypsilanti 347.50 Gertrude Smith # Marshall 347.63 Elizabeth Depew Chelsea 300.00 Lydia A. Powers Battle Creek 300.00 Mrs. P. J. Cunningham Saginaw W. S 500.00 Myron Hull St. Louis 300.00 Henry McMa'nus Utica 290.00 John Hornberger Clare 500.00 Mary Wallace Detroit 410.00 Elma Bradshaw Detroit 326.25 Minerva Updyke Iron Mountain 400.00 Emilie Barck Saginaw, W. S 377.50 Stephen Sims Bay City 275.60 SUMMARY Number of Annuitants 48 Average Annuity • • 388.15 Total Amount of Annuities $18,631.42 SECURITIES OWNED BY THE MICHIGAN TEACHERS' RETIRE- MENT FUND BOARD. Second Liberty Loan, 4's |15,000.00 Township of Broomfield, Isabella County, 5's 3,000.00 School District No. 4fl, Lake and Erin Townships, Macomb County, 51/2's • • 6,000.00 School District No. 2fl, Deep River and Adams Townships, Arenac County, 5y 2 's 8,000.00 Michigan War Loan, 4's 5,000.00 School District No. 2, Springport Township, Jackson County, 5's 20,000.00 Third Liberty Loan, 4%'s 10,000.00 School District No. 2, Township of Billings, Gladwin County, 6's 1,300.00 School District No. 2, Township of Wayne, Cass County, 5y 2 's 2,500.00 School District, Champion Township, Marquette County, 5' s 13,000.00 School District No. 4fl, Hay Township, Gladwin County, 5's 3,000.00 School District No. 2, Township of Hamilton, Gratiot County 6's 3,000.00 Total $89,800.00 -■'...•-■'•'• LiDnnni vyr ^uiiuni_jo 021 334 476 6 Jim *t m m .• Eg ^H A** ^B' M ••r .i EWJ*