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Show HILL Pago 8 At First Glance Lost By Lee Florence In February 1948 Congress passed, and President Truman Act, which approved, the further increases the benefits offered by the Federal retirement so-call- ed Langer-Chavez-Stevens- on system. The new law is an important one. Any law which directly affects the savings and future welfare of a million and a half individuals is bound to be important. The new law has a special social significance in that it provides a new measure of security for us and for our dependents and beneficiaries. Act changed some of the The basic features of the original Retirement Act; it made some additions to the old system, and it also eliminated some of the former provisions." SOME OF THE COMPARISONS BETWEEN THE OLD AND NEW RETIREMENT ACT New Retirement Act Old Retirement Act Mandatory Retirement Same as present Act. 15 service. of 70 with years Age Optional retirement without reduction in annuity Same as present Act except option Age 62 with 15 years of service. expressed only by employee. Age 60 with 30 years of service. Option exercised by either env ployee or Department. Optional retirement with reduced annuity 30 55 with years of service . Age 55 with 30 years of service Age with annuity reduced 3 per cent reduced (in accord' with annuity for each year under age 60. ance with an actual schedule) ap6 for each percent proximately year under age 60. Retirement benefits to persons involuntarily separated with 25 or more years of service Immediate annuity upon involun Provision expired by its own terms June 30, 1947. tary separation with annuity' reduced by 3 per cent for each year employee is under age 60. Maximum service credited toward retirement 30 years. Plan I No maximum. Plan II 30 years. 35 years. Plan m Maximum annuity payable 80 per cent of average salary. No maximum stated. since service for 1, 1920, during which retirement Deposit August deductions were not currently made If deposit is not made, service is If deposit is not made, service is credited but annuity is reduced by credited but annuity is reduced by 10 per cent of the amount of unamount purchasable by deposit on an acturial basis. paid deposit including interest Separation benefits Less than 5 years of service, re Less than 5 years of civilian serfund with interest only; 5 but less vice, refund with interest only. At than 10 years of civilian service, least 5 but less than 20 years of choice of refund with interest, or civilian service, choice of refund with interest, or deferred annuity annuity deferred to age 55 in case of involuntary separations, deat age 62. ferred to age 62 in case of voluntary separation. Voluntary separation annuity computed under Plan I only. Over 10 years of civilian service, deferred annuity as above with option of refund of deductions made before January 24, 1942. Tontine Sets aside $1 for each month of Abolishes tontine in accounts of service after June 30, 1930, which all present employees. All deducis returned to employee only in tions made are immediately credevent of involuntary separation. ited to employee's individual Langer-Chavez-Stevens- on TOP TIMES Friday, April USAF Chief and Found! Lost anything lately? The guard headquarters has a drawer full of unclaimed articles ranging from many sets of keys to scarves, gloves, pens and eye glasses. (Sometime ago, a set of false teeth were found and turned into the guard. The teeth were kept in a glass of water in hopes the toothless owner would claim them so but to no avail the choppers were thrown out. Personal items found on the base can be turned in to any guard. Items can be claimed by the owners identifying them at the guard headquarters in the library building. of Staff The President on 1 April nomin ated General Hoyt S. Vandenberg to be Chief of Staff, United States Air Force, succeeding General Carl Spaatz. General Vandenberg will assume his new post July 1, 1948. General Spaatz brings to a close 38 years of service, having graduated from the United States Military Academy in 1914. General Spaatz will remain in an advisory capacity at the request of Secretary Forrestal. General Vandenberg was born in Milwaukee, Wisconsin, January 24, 1899. He was graduated from the U. S. Military Academy with the class of 1923. He attended the Air Corps Tactical School, the General Staff and Command School and the Army War College. He was promoted to the rank of Major General in March of 1944 and in the same year was appointed Deputy Commander in Chief of the Allied Expeditionary Air Force. Following this tour of duty he was made commanding general of the U. S. 9th Air Force in France. His decorations include the- - Distinguished Service Medal (with Oak Leaf Cluster, the Silver Star, Distinguished Flying Cross, Air Medal (4 oak Leaf Clusters), Legion of Merit. His present assignment with the Air Force is Vice Chief of Accident Rate Down The militarv accident rate, at Headquarters, Ogden Air Materiel Area for March 1948 hit rock bottom. March was the second con. secutive month in which there were no disabling accidents to military personnel. Civilians didn't fare emits an well, however. There were three disabling injuries: a maintenance division employee slipped on snow covered ice and broke an ankle bone; a fireman was injured while responding to a fire alarm; and a supply division employee sustained a hernia while moving office desks. A total of 316 man hnnrn wan lost because of these three acci dents. Maintenance Depuh Exchange Club Guesf Guest 'speaker at a lunchJ meeting of the Ogden ExcW ruh,. deputy for maintenance atK Colonel Unruh has engineering experience much I which was gained in actual During World War U. he wna .5 down in aerial combat three tiaJ une uoionei will discuss srf problems as refrigeration units! cool the cabins of aircraftnear the speed of sound. FricM from air passing over the smol sides of the aircraft create enou? heat inside the cabin to i;tl roast pilots even though outsit temperatures are far below zero $ The talk will be delivered in Spanish room of the Hotel r i Lomond on April 20, 1948. Cold Wave Machineless Electronic Permanent Waving Village Beauty Shop Sahara Village Staff. r the sandal Interest on individual account per cent through periods of ser 3 per cent in all cases. vice, and 3 per cent through periods of separation after 5 years of 4 service. 5 Deduction per cent 6 per cent. Annuity formula Plan I $30 for each year plus 1 per cent of average salary purcnasaDie annuity. multiplied by years of service, or, Plan II 1 per cent of the average annual Average salary not to exceed $1,600 multiplied by years basic salary during any 5 consecof service divided by 40. utive years of allowable service Plan ni Average salary multimultiplied by years of service plus plied by years of service divided a sum equal to $25 for each year by 70. of such service. Annuity not to exceed an amount equal to 80 per cent of highest average annual basic salary. The Following Table Illustrates Annuities Computed Under the Basle Formula When All Payments Have Been Made Highest Yean of creditable service Average . 5-y- Salary 1,500 92,000 $2,500 93,500 94,000 95,000 97,500 910,000 5 200 225 250 300 S25 375 568 750 ' 10 400 450 500 600 650 750 1425 1,590 15 20 600 875 750 900 975 1,125 1,688 2,250 800 900 1,000 1,200 1,800 1,500 2,250 8,900 25 1,000 1425 1,250 1.500 1,925 1,875 2,813 3,750 80 85 1,200 150 1,075 L500.... 1,750 1,800 2,100 1,950 2,275 2,250 2,623 3,375 8,988 4,500 550 1,200 The annual annuity is paid in 12 equal monthly inatsllmenta computed to the nearest whole dollar ; some of the above figures, merer ore, are exact, while some are rouna figures close to the Foot Delight's bracelet strap sandal In gleaming black patent . . . suave, smooth-fittind and always In the best of g, . high-heele- good taste. A sandal in which you'll do some very pretty stepping. $12.95V exact amount. EFFECTIVE DATE First day of the second month following the month of approval except for: (a) the increase in deduction rate first pay period after June 1948. 30, (b intftrMt rate, fanusrv 1. 104ft of approval. (c) survivor benefitw 25 years of service, July 1, (d) involuntary $enr 1047. Hi f t jfter 7 S- - Fped'Mye Ogden. Utah 16, u (So. M |
