On appeal from the Supreme Court.
For the plaintiff-appellant, Fred Goldstein.
For teachers' pension and annuity fund, David T. Wilentz and Harry A. Walsh.
The opinion of the court was delivered by
BODINE, J. The appeal in this case is from an order of the Supreme Court vacating a levy made against moneys, rights and credits in possession of the teachers' pension and annuity fund claimed to be the property of Winthrop M. Johnson, a former school teacher, and setting aside the execution under which the levy was made so far as it was applicable to such funds.
The teachers' pension and annuity fund became a party to the execution proceedings after the levy. The motion in the action under review was solely in behalf of the fund and without regard to any interests of Winthrop M. Johnson, who was the sole defendant in the proceeding prior to execution and levy.
Winthrop M. Johnson served as principal of the Woodrow Wilson High School of Weehawken, New Jersey, from March 1st, 1926, to February 3d, 1937. During that time he was a member of the teachers' pension and annuity fund, and as
required by the statute establishing the fund, compulsory deductions were made from his salary and were paid into the fund. When his services with the school system were terminated, he was entitled to demand the accumulated deductions standing to the credit of his individual account, plus interest fixed by statute. The levy in question was against such accumulated deductions.
The teachers' pension and annuity fund was created by chapter 80, Pamph. L. 1919, an amendment to the act establishing the public school system of the state. The title of the act is "An act to amend 'An act to establish a thorough and efficient system of free public schools, and to provide for the maintenance, support and management thereof,' approved October nineteenth, one thousand nine hundred and three." The act is now found in the R.S. 18:13-24. It appears from the preambles that the legislature established the pension fund in order to give teachers protection against the disabilities of old age.
The statute grants to the fund the powers and privileges of a corporation, but does not subject it to suit. Section 18:13-27.
The trustees consist of the commissioner of education, the state treasurer, one trustee appointed by the governor, three trustees elected from among the membership of the retirement system, and one trustee, not a teacher nor an officer of the state, elected by the other trustees. Section 18:13-29.
All persons whose appointment as teachers shall be made after the effective date of the act become members of the system by virtue of their ...