Noe
VESTNIK
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THROUGH
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SPeaSZ
Pratt'
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. 0. Box 100, Temple, Texas 76503 DECEMBER 12, 1984 ISSN-07458800 VOLUME 72—NUMBER 48
Christmas at the Home Office
TO: ALL SPJST MEMBERS SUBJECT: DELETION OF CERTAIN SPJST PLANS OF INSURANCE AND OTHER INFORMATION
1. Effective immediately, SPJST will no longer offer for sale the following plans of insurance: JE-Endowment at Age 18 N-10 Year Endowment F-15 Year Endowment G-20 Year Endowment H-Continuous Premium Endowment at Age 65 1-20 Year Payment Endowment at Age 60 M-Retirement at Age 65 SPE-20 Year Single Payment Endowment SPL-Single Premium Life D-15 Payment Life E- / 0 Payment Life These plans will be withdrawn because they will not meet the definition of, a Life Insurance Contract as defined in the new 1984 Tax Act. Basically, this definition requires that the investment element in a life insurance certificate be subordinate to the death benefit element as established through elaborate formulas. If these plans were allowed to be sold after 1-1-85, the Cash Value increase attributable to interest income would be currently taxed as ordinary income to the certificate owner.
2.
The following plans of insurance cannot be offered after age indicated basically for the same reason as above: W-Life Paid-up at Age 85-cannot be issued after Age 65 K-Life Paid-up at Age 65-cannot be issued after Age 45
3.
Although the definition does not affect any certificates issued prior to 1-1-85, the plans in Paragraph 1 are withdrawn from further offering effective immediately.
4.
The SPJST Annuity Program is currently paying 12% interest. This rate is guaranteed up thru January 31, 1985. There is a possibility the 12% rate will change (higher or lower). I can assure you that we will attempt to keep the rate as competitive as possible at all times.
Christmas is a time of giving! Christmas is a time of sharing! Pictured we see boxes filled with groceries and clothes donated by the Home Office staff, employees, and their families for the First House, Emergency Shelter for Abused Children, in Temple. The First House is one of the many projects under the Department of Human Resources aided by the SPJST. All members of the SPJST are, urged to support this effort to help children and families experiencing problems with child abuse and neglect in their area.
Lodge 54, West Officers
5. The changes above are dictated by the 1984 Tax Act. The changes have been enacted because it is our responsibility to do what is in the best interest of our members. Thank you for your cooperation and understanding.
Fraternally, Bernard M. Gebala Vice President
SALES REPRESENTATIVES REMINDER To be included in the trip planned in March, you must be in the "Top 30" and have annual premium of $2,600 or more You must have both of these prerequisites to be eligible. All business must be issued prior to Dec. 31, 1984.
These members were elected at their lodge meeting held Deember 2nd. L to R: Czech Reporter Jan Vaculik, Financial Secretary Maxine Sefcik, Secretary Anne Emery, Vice President Ted Kocian, and President Rudy J. Sefcik. (Treasurer Freddie Kaluza had to absent himself.—Editor.)