Pension 
Fund 
Contribu- 
tions 
4 
hereby prescribed, the said Pension Board shall ad- 
minister, invest and disburse the said Pension Fund. 
The said Pension Board shall elect from its members a 
Chairman and Secretary and may elect such other 
officers as it shall deem advisable. It may also adopt 
regulations, not inconsistent with these rules, for the 
safe-keeping, investment and administration of said 
Pension Fund and the disbursing thereof. The Treas- 
urer and Assistant Treasurer of the Corporation re- 
spectively shall, ex-officio, be the Treasurer and 
Assistant Treasurer respectively of the Pension 
Board. 
§ 3. The said Pension Fund shall consist of contri- 
butions to be made by the Corporation, of contributions 
to be made by such employees of the Corporation as 
become subscribers, and of such moneys, if any, as shall 
be contributed thereunto by other persons. Wherever 
the word gratuity or pension is used hereinafter, it 
means a gratuity or pension payable out of such fund. 
The legal title of the said fund and of all securities and 
investments of which the same shall be composed shall 
be, and remain, in the Corporation, subject to the 
obligation to use the same for the purposes herein 
expressed. 
§ 4. The Corporation agrees to contribute to said 
Pension Fund, during each year, in instalments which 
shall be paid to said Pension Fund at such time or 
times as the Board of Trustees shall direct, a sum equal 
to three per cent. of the annual salaries paid during 
that year to those of its employees who are subscribers 
to said fund. Each employee of the said Corporation 
who shall become a subscriber to said fund, agrees that 
from the date of his or her subscription, he or she 
will contribute a sum equal to three per cent. of the 
salary paid to him or to her by said Corporation. Such 
contributions by such employees shall be made in instal- 
