VIA "Fraternalism Insures Togetherness"
APSt Praib
Official Organ Of The Slavonic Benevolent Order Of The State Of Texas, Founded 1897 BENEVOLENCE
HUMANITY
BROTHERHOOD
Postmaster: Please Send Form 3579 to: SUPREME LODGE, SPJST, P. O. Box 100, Temple, Texas 76501 USPS -- 658480 VOLUME 68 NUMBER 40 OCTOBER 1, 1980
FROM THE EDITOR'S DESK The days of the week roll by and, with each, some newsworthy items appear in various articles and/or periodicals; we try to keep our members and readers as informed as possible about as many of them as is possible. In this editorial we print some items certain to be of interest to many of you, young and elderly; we hope you read them and will benefit from doing so, especially if they pertain to you In this issue we reprint the schedule and program for the annual Czech Day at the Texas State Fair in Dallas and printing the agenda for the District VI SPJST meeting for that same day: Sunday, October 5th. Please read them. We also are publishing the Tentative Program of the National Slet of the American Sokol Organization to be held in Ft. Worth in June 1981 so that our various lodges, districts and organizations can plan their dates for activities so that they would not be in conflict with that important activity especially since it is in Texas for the first time. You will also find an article from Brother Dan Kubiak about an item which is certain to be of interest to many of our members, lodges, and readers; you are advised to read it carefully. Many people nearing age 65 and worried about the bite that inflation will take out of their pensions; should have second thoughts about retiring.
TODAY'S THOUGHT... To make a mountain out of a molehill, Only serves to make you III. Turn your face up to the sky Think of others. Forget big "I." It isn't what happens when trouble mounts, The way we take it is what really counts. Signs are emerging that the idea of postponing retirement is starting to catch on. Inflation is the main spur. At the current base rate of 10 percent a year, it will cut in half the buying power of a pensioner's dollar in about seven years. Few private pensions are routinely adjusted for that. Another reason: A change in the law--effective in 1982--gives workers a 3 percent, rather than the earlier 1 percent, increase in Social Security benefits for each year that they postpone retirement past age 65. Another new federal statute makes it illegal—except for a few specified jobs--for employers to require retirement before age 70. Each case is different. Calculations for a single person who works for a private employer and had a gross salary last year of $30,000, who is fully vested in a retirement plan and who was 65 years old on Jan. 1, 1980.
If such a person retired last January, he or she would be getting a total retirement income in 1980 of $15,816, after taxes. That includes a $9,300 pension and the maximum Social Secarity benefit of $7,355. The total after-tax income the year before he or she turns 70 will be $18,743, assuming increases of 8 percent a year in Social Security payments. If this same person were to stay in employment until age 70 and the employer allowed pension credits for salary earned past 65, the aftertax income obviously would be much higher. Assuming 8 percent annual pay increases, it would be $23,739 next year and $27,716 in 1984. When he or she retired in 1985, the private pension alone would total $13,664 on top of the Social Security payments. By then, the individual could earn as much additional income as he or she wanted without losing Social Security benefits. People seeking small-business loans in some parts of the country are being victimized by companies offering to help them process the loans for fees of $1,500 to $1,800, warns the Small Business Administration. A reputable certified public accountant will do the same work for less than $500. ** Energy Tax Credits. If you install awnings, window shades, window films, a wood stove or a heat pump in your