Pulse Beat June 2013 by City of Paramount

BEAT PULSE BEAT

Summertime, And The Living Is Easy At Paramount Parks

Summer is a busy time in the City of Paramount for recreational activities. What follows are a few quick snapshots of the goings on in Parks and Rec this season.

You can ﬁnd the complete Recreation brochure on the City’s website at www.paramountcity.com on the Parks and Recreation page, along with a list and map of parks and facilities. You can also get information about signing up for swim lessons, pool passes, and day camp on the City’s homepage.

Water, Water, Everywhere

The City’s two swimming pools – at Paramount Park and on Orange Ave. – provide lessons, exercise options and play time for all ages. There are programs to keep the kids occupied, for families to get out and enjoy the weather, and for every age group to stay in shape.

A special feature is the Friday night “dive-in” movies. The whole family can play in the water while watching fun family ﬁlms. It takes place Fridays, through August 16th, from 6:45-8:45 p.m. at Paramount Pool. Participants under the age of 13 must be accompanied by an adult 18 years of age or older. Any child under the age of 6 must be accompanied in the water by an adult.

For Seniors – Events, Excursions, Activities

Paramount provides a variety of classes, informational resources and excursions – plus a nutrition program with meals served at the Community Center as well as delivered to the home – for our senior population.

Senior Water Aerobics at the Paramount Pool is a great way to improve ﬂexibility, strength, and endurance during the summer months. The four-week session on Mondays and Wednesdays begins June 24th and the four-week session on Tuesdays and Thursdays begins June 25th. The classes are for ages 50 and above, a free for residents and members of Paramount Elderly Nutrition Program ($5 for non-residents).

This summer, also, there will be trips to the Ronald Reagan Library, Laughlin, the Orange County Fair, and the Getty Villa Museum, among others. You can exercise, draw, play bingo, and dance the summer away in the comfortable surroundings of the Paramount Park Community Center.

For more information, please call (562) 220-2090.

For Kids – Summer Day Camp

The City’s Day Camp is all-day summer recreation fun. Activities include physical fitness, swim lessons, crafts, trips, movies, games and more. Space is limited and is given on a first come, first served basis.

Participants are ages 5 to 12, camp hours are Monday through Friday,

Summer Program Offers Paramount Kids Free Meals and Activities

The Paramount Uniﬁed School District and the City of Paramount’s Parks and Recreation Department are once again providing a free Summer Nutrition and Activity Program called Summer Fun Café.

The federally funded program offers meals and activities for children 18 and younger and is being held at all elementary and middle schools in the District (except for Jackson). It all begins on June 17 and concludes August 9.

Summer Fun Café is a walk-in program, and no registration is necessary. Children are welcome to participate any time during operating hours.

Monday through Friday, a free nutritious breakfast is served from 9:00 a.m. - 10:00 a.m.

From 10:00 a.m. -12:00 p.m., kids are led by staff members in such activities as sports, arts and crafts, and physical ﬁtness.

Then a free lunch is served from 12:00 p.m. -1:00 p.m.

Summer Fun Café gives the kids of Paramount a great outlet and some delicious meals during the summer break, all at no cost to them or their families.

For more information, please call (562) 220-2121.

Low-Cost Pet Vaccinations

The City is providing its annual low-cost vaccinations for all dogs and cats in the community at two special “Vaccine-A-Thons” this summer. The ﬁrst will be Wednesday, June 19, from 6:30 p.m. to 8:00 p.m.; the second will be held Wednesday, July 17, also from 6:30 p.m. to 8:00 p.m. They will take place at Paramount Park, 14410 Paramount Blvd.

Rabies vaccinations (required for all dogs under California law) will be priced at $5 each (plus a $2 medical waste disposal fee). This is a $10-$15 savings over traditional prices. A complete selection of other pet vaccinations will be available at discounted prices, with special combination “packs” to allow pet owners even greater savings when they purchase multiple vaccinations. You can also get general health exams and services for

discounted prices. (You can ﬁnd a list of all these services, and their costs, online at www. mobilepetcare.com.)

Popular ﬂea control product Comfortis may be purchased at special prices. You can also have a microchip registration done for identiﬁcation purposes (if your pet is ever lost) for only $45. Plus, there will be nail trimming available for $12-$15.

Pet licensing can be done on site, and free educational materials and general health care tips for dogs and cats will be distributed. Checks and cash only will be accepted for licensing. Checks, cash and credit cards will be accepted for the veterinarian services.

Please remember – dogs must be on leashes and cats must be in carriers.

All services are provided by licensed veterinarians from Vet Care Vaccination Services, Inc. in conjunction with South East Area Animal Control Authority (SEAACA). For more information, please call (562) 220-2018.

A Paramount Woman of Distinction

Senator Ricardo Lara, who represents Paramount and other cities of the 33rd District in Sacramento, recently named a number of District residents as Women of Distinction. They were honored at an event at Progress Plaza on May 17th.

Lifelong Paramount resident Brenda Olmos was recognized for her extensive involvement in our community.

She has served on the City’s Public Safety Commission since 2005. In this capacity she helps advise the City Council on important issues affecting all of our residents. She is a member of the Board of Directors of the Paramount Chamber of Commerce, currently as the organization’s senior vice president and next year will assume the position of president.

Her spirit of volunteerism has been spread across the age spectrum from young to old. She was president and vice president of Paramount Girls Softball for eight years and the business/community relations liaison for Paramount Youth Football for two years. With Pathways Volunteer Hospice, a nonproﬁt organization dedicated to providing service to the terminally ill, Brenda has been on the board of directors since 2011 and is currently secretary on their executive board.

Congratulations to Brenda for being so active on the local scene and for gaining recognition as a Woman of Distinction.

Student Artists Celebrated In Annual TAG Contest

The Paramount Traditional Artists Guild held its 15th annual contest for Paramount’s kindergarten through high school students this year. The winners were to be honored at the City Council meeting on June 4, where they received their cash prizes from the Guild.

There were a very health 1,484 entries from 11 Paramount K-8 schools, four middle

• Kindergarten

Moises Santa Maria (Los Cerritos)

• 1st Grade – Nadia Martinez (Collins)

• 2nd Grade – Darryl Henry (Keppel)

• 4th Grade – Nathan Endo (Lincoln)

• 5th Grade – Manuel Ramos (Jackson)

• 6th Grade – Jorge Tumalan (Paramount Park)

Mexican Restaurant

Duet – Friday & Saturday Nights

8330 E. Alondra Blvd., Paramount 562-630-9100 562-634-6225

Open: 11:00 am - 10:00 pm Fri. - Sat. 11:00 am - 11:00 pm

Mayor, Gene Daniels

Summer’s Here – Remember

These Water-Safety Tips

Now that it’s summer, here are some drowning-prevention ideas supplied by the Los Angeles County Fire Department.

• Never take your eyes off a child when he or she is in or near any body or water, even for a second.

• Don’t rely solely on barriers, such as fences or walls, near a pool or spa. There is no substitute for constant supervision.

• Keep toys, tricycles, and other children’s playthings out of the water and away from the pool or spa.

• Don’t consider your children to be “drownproof” because you enrolled them in swimming or “water-prooﬁng” classes.

• Don’t rely on inﬂatable devices to keep your child aﬂoat. These are not substitutes for adult supervision.

• Make sure your pool or spa has a fence, wall, or safety cover that guards against unsupervised access, particularly by young children.

• Make sure doors leading to the pool or spa area are self-closing and self-latching, or are equipped with exit alarms and are never propped open.

• Always drain standing (surface) water from the pool cover. Remember that even a few inches of water can be hazardous, especially to young children.

• Install a phone, or keep a cordless phone, in the pool or spa area.

If A Child Or Adult Is In Trouble In A Pool …

• Don’t panic; yell for help.

• Get the child/adult out of the pool immediately.

• Call 911 immediately for emergency medical services.

• If you’re training, begin CPR if necessary.

• If you’re not trained in CPR, follow telephone instructions from the Fire Department until they arrive to assist you.

Rules for Business Banners in Paramount

Each year, On Patrol provides a review of the City’s ordinance that allows the use of hanging banners as a tool to help businesses with advertising.

Each business is permitted one banner, except for businesses located in corner suites (which can have two banners) and businesses occupying single-unit buildings (which can use four banners). One banner is permitted per building side.

All banners must be professionally manufactured, and they need to be installed ﬂat against the wall or facade and anchored at all four corners – they can’t hang in midair, be suspended only by the top edge, or be strung between buildings or trees. Businesses utilizing banners need to get a no-fee permit from the City, and renew it on a yearly basis. (It’s a simple, one-page form.)

This type of marketing can be of great beneﬁt. There can, though, be a downside – if not maintained, banners will wear out and create a bad visual image. Paramount and its businesses have focused on creating an attractive cityscape, something a tattered, untended banner can compromise.

The banner ordinance in Paramount is meant to provide an effective advertising tool for local merchants. If these signs become damaged, or if they hang badly, it’s in everyone’s best interests to set them straight and make repairs.

Summer Vacation Home Checks

Now that summer is here, if you are planning to take a vacation remember that Paramount residents can contact the Sheriff’s Station about having Volunteers on Patrol keep an eye on your home or property while you’re gone.

Call (562) 220-2002 to ask about vacation checks.

Summertime, And The Living Is Easy At Paramount Parks

Continued From Page 1

7:00 a.m. to 6:00 p.m. and the program runs from June 17th to August 16th. Summer Day Camp takes place at the Paramount Park Gym and the cost is $75 per person per week. There is a free meal program available, but if you do not take part in that a sack lunch and snack must be sent with the child daily.

Registration is open both online (www.paramountcity.com) or in person at the Recreation Office (15300 Downey Ave.). If you don’t have an online account, you will need to create one first at the Recreation Office. Just bring proof of residency or PUSD enrollment and proof of age with you. Positions for junior volunteers are also open.

You can download the registration and volunteer packets on the City’s homepage.

Picnics in the Park

Summer, of course, is prime picnic time. When you picnic in a City park, please remember to follow the rules and regulations and help keep our parks safe, clean and fun for everyone.

• Picnic shelter areas are available on a ﬁrst come, ﬁrst served basis.

• Barbecue pits are available for your use. Please dispose of hot coals in the appropriate bins.

• No alcoholic beverages or glass containers.

• No inﬂatable bouncers or generators are allowed without a City permit.

• No loud or ampliﬁed music.

• Dogs are prohibited.

• No motor vehicles are allowed on the park.

• Parks are closed at dusk (30-27.1 PMC).

For more information about recreational opportunities in Paramount, call or stop by the Community Services and Recreation Department at 15300 Downey Ave., (562) 220-2121.

Sugartown 5K Challenge

On July 13, 2013, Pathways Volunteer Hospice will be participating in the SugarTown 5k Challenge! This particular 5k challenge incorporates an obstacle run with ropes and ramps, tires and towers over haystacks, slides, all while scurrying through a bevy of Walking-Dead zombie wanna-bes, all of this and more will be happening on the streets of Old Town Los Alamitos. The obstacle will end right in the middle of Orange County Sugarbeet Festival with restaurants, bands, exhibits and tons of fun!

Pathways has a terriﬁc fundraising opportunity during this Sugartown 5k challenge. For every person that signs up to participate in the challenge and designates Pathways Volunteer Hospice as the non-

proﬁt, Pathways will receive $20 dollars of the registration money, they will also be able to receive additional grants and money from the festival.

Pathways has been serving the community for 28 years and counting, with compassion and support through grief counseling to schools and individuals, while also providing caregiving and hospice care to the frail and elderly.

To register go to www.sugarbeetfestival. com click on the 5k challenge tab, then click register. Don’t forget to select Pathways Volunteer Hospice from the drop down list or use the code LAPV. If you have any questions please call Pathways at (562) 5313031, or visit http://pathwayshospice.org/ .

National Senior Health & Fitness Day

Health Screenings, Information, Rafﬂes, Refreshments & More!

Wednesday, June 5th 9:00 am - 12:00 pm

Weingart-Lakewood Family YMCA

5835 E. Carson St., Lakewood, 90713

Contact Beth Freeeman for more information 562.425.7431, beth.freeman@lbymca.org.

Now Accepting Registration!

LIVESTRONG at the YMCA has been a huge help for me during cancer treatment. The coaches provide a good exercise plan and regular presentations by medical and dietary professionals, all which create an overall program for cancer survivors. I recommend this program to any cancer survivor!

- Dan Barackman, LIVESTRONG at the YMCA Alumnus Cancer is a life-changing disease that takes a tremendous physical and emotional toll on those affected. The Y and LIVESTRONG have joined together to create LIVESTRONG at the YMCA, a FREE physical activity and well-being program designed to help adult cancer survivors reclaim their total health.

We are currently taking registration for our next session! For more information contact Terry Grifﬁn, terry.grifﬁn@lbymca.org, 562.596.3394 or John Blowers, john.blowers@lbymca.org, 562.425.7431.

Available at theParamount Chamber www.paramountchamber.com (click on events/calendar)

Junior Roller Derby members visit Paramount Rotary Club

On the left is Karla Escobar aka “Karla Sutra” and on the right is Teri Carpenter aka “Unimommer” these young women visited the Paramount Rotary to speak about Junior Roller Derby. Karla has been involved for two years, she wanted to try new things and enjoys seeing the girls come out of their shell and develop their own moxi. Teri has been skating for three years and is a mother of an eight year old. She is head coach for the juniors and

skates for adult roller derby teams. The program is for girls 4 to 17 and teaches them how to skate. They make new friends, learn to help each other and meet good role models. This team sport is described as football on eight wheels. The bout (match) starts with a leader for each team (the “jammer”) racing around the track to pass through the “pack” (four blockers on each team). Their motto is “come for the fun, stay for the stoke”.

Paramount Chamber “Award of Excellence”

The Paramount Chamber of Commerce Award of Excellence will be presented at the Chambers Annual Installation & Awards Luncheon of Ofﬁcers and Directors, Thursday, June 27, 2013, Progress Park Plaza, 15500 Downey Avenue, Paramount. The nominee may be an employee or business owner that meets the following criteria:

1.) Paramount Chamber of Commerce Member or Member Employee. 2.) Volunteer contributions to the business community and community at large. 3.) Outstanding contributions toward the company or agency of said nominee. 4.) Continued service during times of adversity and prosperity. 5.) Length of service.

Paramount Chamber of Commerce, 15357 Paramount Blvd., Paramount, CA 90723

Phone: (562) 634-3980 FAX: (562) 634-0891

Email: plemons@paramountchamber.com

Installation Luncheon Sponsor: Weber Metals

Special Thanks to Scholarship Selection Committee

The Paramount Education Partnership, Inc. (PEP) announced the recipients of its 10th annual college scholarships at the Paramount High School Awards Ceremony on May 30. You can ﬁnd the list on the City of Paramount’s website at www.paramountcity.com. The names will also be published in the July issue of the Pulse Beat.

A dedicated committee of local volunteers spent many hours reviewing the 109 applications submitted to PEP this year.

Applicants are graded in a number of categories, including academic achievement, an essay, academic recommendations, extracurricular activities and, most importantly, ﬁnancial need. Due to the generosity of the local business community at the annual fundraiser in April, scholarships will be given to 24 Paramount students this year.

Given the number of worthy applicants, the PEP Scholarship Committee has a difﬁcult time selecting the ﬁnal honorees. Profound thanks go out to the members of that Committee and all their hard work:

• Paula Coony of Paramount Iceland/Zamboni Merchandising Co.

• Paramount resident Mandy Stevens.

• Flo Haynes of Weber Metals.

• Lourdes Talamantes, School Counselor with Paramount Uniﬁed.

Obituary

Goede Reis Mr. Boersma

Michael “Mike” Boersma of Paramount CA, passed away on May 16, 2013. He was born in Friesland, The Netherlands on March 15, 1921, and immigrated to the United States in 1948. He worked part-time for a furniture factory in Grand Rapids, MI while attending St. Thomas Aquinas College to complete his college education, which began in The Netherlands. He graduated in 1950, earning a Bachelor’s degree. He moved to Paramount in 1951 and was employed as a bookkeeper, while studying accounting via a correspondence course from LaSalle University in Chicago, IL to earn a degree in higher accountancy. Mike opened his own “Accounting-Tax Service” ofﬁce and was fully self-employed by 1953, where he remained until he retired in 1992. He truly loved his new country and became a US citizen in 1955. That year he also joined the Order of Knights of Columbus and in 1956 he joined Rotary International and became a member of the Paramount Chamber of Commerce. From the time he settled in Paramount, he was a very active member of Our Lady of the Rosary Catholic Church. He was preceded in death in 1985 by his ﬁrst wife, Elizabeth, who was the mother of his eight children. He is

Michael “Mike”

survived by his second wife Beatrice, his 8 children and her 3 children, numerous grand and great-grandchildren, a sister in The Netherlands and a brother in Michigan and many nieces and nephews. In lieu of ﬂoral contributions, the family requests donations to Doctors Without Borders in Mike’s name.

City Services

Boersma

ANGELS WANTED AT “SPRING-TOBERFEST”

California Outreach Organization President Harald Niehenke with Paramount Mayor Gene Daniels during a recent food distribution event.

The Los Angeles Turners will host a fund raiser on June 15th for the Paramount based COO (California Outreach Organization) the event hopes to generate much needed revenue to allow continued food distribution at their 15929 Garﬁeld Ave. address. The event – a Spring-Toberfest - will be held at the Los Angeles Turners’ Event Center, 8946 Sepulveda Eastway, Los Angeles, reception begins at 7 p.m. followed by dinner at 7:30. Entertainment includes dancing, live music, silent auction, and Las Vegas-style gaming tables. Cash donations or ticket purchases may be made at COO, 15929 Garﬁeld Ave., Paramount, for more information (714) 927-7258.

The Los Angeles Turners have been part of greater Los Angeles for many years, incorporating in 1871. Their mission, “A Sound Mind in a Sound Body,” has evolved over its life here in LA and now encourages

ﬁtness and health over fads and debility.

President Carole Kulzer Brennan advises, “Few can succeed and fewer can thrive when the belly is either empty or filled food deficient of nourishment.” Both presidents agree that service to the needy as well as all other community outreach organizations always require funding. “It’s up to those that can help to do so. We need a flight of angels to help out and I know you are out there,” President Niehenke stresses. Additional information concerning both groups can be obtained from their websites: www.californiaoutreach.com and www. laturners.org. Please consider a donation – all amounts are welcome and needed. Sponsorships are still available beginning at the $1,000.00 level. Please contact Ms. Brennan directly at cbrennan@laturners. org to discuss your level of support for this event.

El Camino College Compton Center Softball Team Concludes 2013 Season with

All-Conference, All-State Honors

El Camino College Compton Center ﬁnished the 2013 softball season on a strong note when two of the studentathletes were named to the California Community College Athletic Association (CCCAA), All-South Coast Conference Softball Team, while a third student-athlete earned Academic All-State honors.

Elizabeth Morales was named to the All-SCC Second Team while Katelynn Meredith earned an Honorable Mention spot on the All-SCC squad. In addition, Morales was awarded an athletic scholarship by Northwestern Oklahoma State University, where she will transfer in the fall 2013. Morales is the ﬁrst Lady Tartar to earn a softball scholarship at a four-year university.

Antwoinette Baker earned a spot on the prestigious 2013 Academic All-State First Team. To be selected for this honor by the California Community College Fastpitch Coaches Association, a student must have completed one year of competition and have an overall GPA of at least 3.2.

One of the highlights of the 2013 softball season for ECC Compton Cen-

ter came on March 19 when the Tartars defeated highly-rated Harbor College, 13-8. The game marked ECC Compton Center’s first-ever softball win over perennial powerhouse Harbor.

Head Coach Megan Martinez ﬁnished her second season at the helm of the ECC Compton Center softball program after previously serving as assistant softball coach at California State University, Dominguez Hills (CSUDH) from 2004 to 2007.

Martinez played softball at Saint Joseph High School in Lakewood, Calif., where she was named the Student Athlete of the Year in 1999. In that same year, she was inducted into the McDonald’s Hall of Fame as the Softball Player of the Year.

Following high school, Martinez led the Long Beach City College softball team to the State Championship in 2001 and a state runner-up ﬁnish in 2000. Martinez is working towards a master’s degree in English at CSUDH, where she previously earned a bachelor’s degree in English. Martinez graduated cum laude from Long Beach City College with an associate degree in Liberal Arts.

Promoting Your Business is Our Business

CALIFORNIA OUTREACH ORGANIZATION

ALEXANDER HAST (310) 926-7699, 15929 GARFIELD AVE, PARAMOUNT

WE ARE LOOKING FOR VOLUNTEERS TO HELP US WITH HANDLING AND GIVING OUT THE FOOD & FOR DONORS WHO ARE WILLING TO HELP US WITH FOOD OR MONEY CONTRIBUTIONS THAT ARE TAX DEDUCTIBLE. PLEASE CALL FOR MORE INFORMATION (310) 909-9019.

Now hiring, AUTO MECHANIC, BODY AND PAINT TECH., AND OUTSIDE SALES ACCOUNT MANAGER. Email Heraldsgarage@gmail.com or visit Herald’s Garage 8124 E. Alondra Blvd., Paramount.

“Porque a nosotros nos importa usted”

How to Get a Bank Loan for Your Small Business

Obtaining a bank loan for your small business has never been easy, and in the wake of the Great Recession, it’s become more difﬁcult than ever. To increase your chances of success, a good loan application package is vital. Here, SBDC Business Advisor Jose Vega explains how to put together the perfect loan application and get the ﬁnancing you need.

What are the key elements of the loan application package?

The application package consists of financial information related to the business’s and owner’s earnings, expenses, assets and liabilities, and current credit situation, says Vega. These include tax returns and personal financial statements. “Always include a copy of your credit report so the prospective lender does not need to run a credit check when [the application] is first presented to them,” he adds.

What are the ﬁrst steps an entrepreneur should take in preparing a loan application?

“Have a clear idea of how much money is needed, how it is going to be used, and how it is going to be repaid,” says Vega. (The third factor—repayment—is crucial.)

What are the most important criteria the banks consider in making a loan?

“Repayment ability from current earnings and income is paramount,” says Vega, who adds that “the existence of collateral is a plus” but not essential if the business owner can otherwise show the means to pay back the loan.

What differences should small business owners be aware of when approaching a big bank vs. a smaller or community bank?

“Large lenders have more standardized loan processes and develop products that are delivered to clients relatively fast,” explains Vega, who says loan applications for small dollar amounts (under $100,000) are better served through large banks. “Community lenders are more relationship-oriented and tend to customize the loan process to the applicant, but they [are less likely to] work with small dollar loans.”

In addition to the loan application documents, there is also a personal interview with a banker. How does this affect the entrepreneur’s chances of success, and how can entrepreneurs make a good impression?

While the interview is important, a

Ask The Expert

good interview is not enough to overcome weak¬nesses in your ﬁnancials or compensate for a poor loan application package.

“The lender is only interested in the ability of the applicant, both the business and its owner or owners, to repay the loan,” emphasizes Vega. To make a good impression, he advises, stick to short and simple answers.

What are the biggest mistakes entrepre¬neurs make when applying for a loan?

Developing an overly complex loan application package that includes too many variables to control is a common error, says Vega. “The higher the complexity, the higher the risk”—and bankers don’t like risk.

What software or other tools can help a small business owner create an effective loan application package?

Vega recommends using Excel to prepare a simple and comprehensive budget and Business Plan Pro from Palo Alto Software to create a professional-looking business plan.

If an entrepreneur’s loan application is rejected, what can he or she do? How can an entrepreneur learn from rejection?

Understand that rejection doesn’t necessarily reflect badly on your business—and don’t let it derail your efforts to find financing. “The rejection may be [due to] the inability of the lender to provide the credit, not because the application is [weak],” Vega explains. There are more than 7,500 active small business lenders in the U.S., he says, and each one has its own criteria as to what constitutes a strong credit application. “Try to obtain a reason for the rejection,” says Vega, “[but then] move on to the next lender.”

Rieva Lesonsky is CEO of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Rieva Lesonsky also works with the Los Angeles Regional Small Business Development Center Network. The SBDC is a group of successful small business owners helping fellow entrepreneurs start, sustain, and grow their business through low-cost workshops and free one-on-one consulting in business planning, ﬁnance, marketing, and various other specialty areas (Spanish speaking consultants available). To make an appointment call: (562) 938-5100, or email: sbdcinfo@lbcc.edu

What is an Individual(k)

By Maria F. Galli

State Farm

Insurance

562-817-5620

Do you have plans for retirement? Do they include a retirement plan? If you are a small business owner, you may feel you need to continue working during your golden years. Many business owners may not realize there are plans available to build a retirement account.

One such plan is the Individual(k) for business owners who have no employees other than a spouse. While the plan itself may not be very well known, it can be an appropriate way to provide income during retirement.

An Individual(k) is similar to the more popular 401(k), with contributions limits well above those

SHOP PARAMOUNT!

Paramount Chamber of Commerce

plan?

of Individual Retirement Accounts. Contributions for the 2009 tax year are limited to $16,500 as long as they don’t exceed 100 percent of your compensation. There is even a $5,500 catch-up provision for persons age 50 and older.

The deadline for establishing an Individual(k) is the last day of your company’s tax year. If your company follows the calendar year, the deadline would be December 31 of the current year. If not, the deadline would be the last day of your current ﬁscal year.

Your retirement plans should always include retiring. Make an appointment with your local qualiﬁed insurance and ﬁnancial professional to discuss whether an Individual(k) is appropriate for your business.