| OCR Text |
Show ! t New Approach to Retirement Prbbleiti I to Annuity Expert Tells About Plan I Br r. McAllister lloyd X President, Teachers Insurance (Written for NEA Service) ", NEW YORK (NEA)r-- ' - ; . Ease Fixed Income Difficulties . new. approach to proidinfir, in A the years of retirement, an income frhich will reflect possible changes in the cost of living:, ia now being: considered ' by the college world.' v " Pistol-Packin- Already screened and approved by outstanding: investment and insurance authorities as well as by college administrators, the plan is being - circulated in outline as a matter of information among the 75,w0, policyholders in the 600 institutions served by TIAA, : The new plan .has been devised to meet this problem in the world In which TIAA But the operates exclusively. same problem is faced by all persons who are dependent on annuity income in their years of edu-cptio- nal EDITOR'S NOTE: Among the hardest hit by inflation are those wiu nxea incomes. particularly retired people, Nowan organisation .which specializes in the retirement problems of college teachers has come up with a new Idea which may have Important implications in alt retirement and pension plans. It's des- j cribed by R. McAllister Lloyd (right), who ha been presi-- j dent of Teachers Insurance f and Annuity Association since i 1945 and chairman of the board since: 1917. Previously, j he had been in the bafiklfig l business since graduation from Harvard University" in j T;' . i : . . - " tirement "plan I layer of protection. pro-ridin- "a "basic"! Provo Recreation To be Topic; on 'People Speak' j j . j ' i poor-hous' - . n the educational world pioneered "and still maintains leadership, thanks largely to the geperous. concern of the late An-- 1 drew Carnegie in the plight of college professors in the twilight of th'eir careers." Although some colleges had formalized pension premises to their, faculties, the first "countrywide arrangement among the private colleges was the free pene sion system initiated Carnegie Foundation for the Advancement of Teachuig, endowed "' fjeld, . - by-th- in 1905. Th'rs system was supplemented iri 1918 by the organization 'of Teachers 'Insurance , 8c Annuity Association as a means for fund ing and operating r retirement plans ftfrvtrre growTng mmrber of educational institutions and their faculties. Whereas.- protective .coverage has beeomV general, the rise" in the cost of living has rendered tne benefits inadequate. It is to this new aspect of the retirement problem, that TIAA proposes .to bring the variable . annuity as a ' partial solution. It will be introduced only to the educational world; but if its basic principles and their application prove to be effective, retirement ' programs for other1 groups may well adapt it for their special situations. " ; - : I . v...'. , THE 'WESTERN FRONT, Korea, Hov, 20(U.R A "woman dressed In black . was reported todayo have led a Chinese battalion fn an attack 'against the King's regiShropshire light infantry ' ment. An official source 'said he had : received ; "unconfirmed reports, which would be thor- -. oughly probed" that tha. woman, waving a pistol, was at the head of the Red forces as they stormed a British- held position. Units, defending the hill were swept back by the attack which was described as "particularly fierce." infantrymen involved have not been questioned thproughly about the. woman because fighting in the area is still going on. :;':'. '(K3m ' ; - gfT- " ' you ask for TT TT . OLD .oermitage vou tell the world vouknow LSv-in- c" - - 1951 " "Purposes, Prbbfemi and a in the growth of the Ameri Place of Recreation in Provo can economy. will be the tonic discussed The evolution of public concern.Lt 8 m tonight on the. People for those reaching the age of re Speakp program on KOVO. tirement Is a subject that makes The program, sponsored by the for fascinating study. In its early Peovo Daila Herald and the and more primitive forms, vet- Provo City Schqol Board, will feaerans of the: armed forces were ture, Linh Rockwood, as moder e. sent 4,over the hill" to the ator, Philip Perlman, chairman. of '. the recreation board, judge WilThen "veterans were among the liam Stanley Durtford, Dr. Loyd first to begiyen pensions at pub- - Whitlock and Mrs.. Robert lie expense.-Othe civilian front Thomas. there has been the extension of . ' icaerai ana siaie via .age. social security programs to coved .fll ft $ KCQS LlK6 practically an, citizens. Thus the conventional fixed dollar annuity based on income .f rom such debt obligations as bonds and mortgages will con- "tinue to be the backbone of; all retirement p a n s . offered ' by ?TIAA to the educational world. The variable annuity fhould provide, from, an investment bgse of common stocks, more dollars when they arc needed in meeting increased living costs! It will be available as a supplement, when and where cooperating institutions- elect to take advantage of this unique method of giving the! Only one of every 300.000 beneficiaries of retirement plans! ters mailed in the United-State- s .a direct and 'continuing participar- - is lost before delivery. 1 20. - , let- . . . t ion - . NOVEMBER TUESDAY. g ON ' - The plan will operate through a separate corpora tiqn known as the College Retirement Equities Fund affiliated with TIAA,. This new corporation will invest only in common stocks. Institutions having conventional TIAA retirement plans will have the option of participating in the new corporation, investing up to a maximum of 50 per cent of the total .annual "retirement plan contributions paid oh behalf, of' each participant. These institutions will remain perfectly free to come into the new plan or to stay; out of it. But no institution will be per- mitted to enter the- College Retirement Equities3 Fund Unless and Until it has in force a TIAA re- - UTAH. 20 . - n Woman Rescued From Morgue Now Walking Around "SAN FRANCISCO, Nov, 20 (U.R Mrs. Theresa Butler. who "body." . CONQUERING POLIO Six of the eight DeMars cfl.idren in Los AngcJcs. were stricken with polio last summer. Now four are recovering and, ire pulling for Richard, 4 (left), and Donald, 10 (right),' who are still in iron lungs. Patricia, 12, holds David, 1, whila Audrey, 7 (left),, and Shirley, 5 (right), encourage the boys. was trarrsported to the city morgue Nov. 8, was out of bed and walking today at Stanford hospital widow spcri The most of her time yesterday sitting in a chair, knitting and conversU. S. ing cheerfully with 'nurses. "No, indication of any mental ANACONDA. Nov. 20 UP) A ' HONG KONG, Nov. 20 impairment." was' shown,, a hosMass. OI P The lau nittnniker idcnunco irom em- SALEM, .of American songs Miss Nancy Alva Livingston ofiPloyment cards in his pocket as spokesman 'said.'" are"the latest black market hit pital Althounh Mrs. Butler is still Los Angeles, whose will was pro- -, Peter J. Starkin, 63, died Monday in Communist China, informed! weak" and in need of assistance bated here, left, $560 to "some!whiIe riding in an auto which had sources. reported today. while walking, the spokesman saloon keepers' society fund for ;ust left here oni trip to Minne-t- o Hong Kong.' and Macao traders' said have highest . of liquor .drink-lsot- a. physicians promotion are doing' a lively business in thehopes of her complete recovery. ing." J The driver. J. W. Stucki. of recbrds, banned by the Chinese Signs of life were detotted near Libby told police jWarland. Reds'-ah had Picked Starkin up near "Imperialistic Weapons" when Mrs. Butler's "body"- ar- -j AMn wrmmnn vu ..f,, and "luxuries." On the black rived at the threshold of- the Missoula Sunday and that they "C?" "I " market, Patti Page's "Tennessee morgue after she was pronounced Hunters will have no excuse for had stayed, at a local hotel and farmer L. started Waltz" recording led the hit par- dead by a physician. She remain- for St, Paul this 'morning. ade,, selling for $19 each, with j Starkin, whose, papers showed on "My Foolish Heart." "My Heart Police had taker, an'sid ,ncihe was born in Redwood Falls. of animals Cries For You" and "Once in a overdose sa.d.fte iMinrf, July 2. 1888. told Stucki sedatives ir an ap- - . of While" $7 per record. relatives in Minnesota. parent suicide attempt. m ,A'h"had oi SPRINGFIELD Mac Death .was attributed to a heart tniei snipped off Dennis tV Knee attack. ; land's necktie a he walked Mexican 'Wetbacks' Stafford Buys Daily a street last night but missed along getInvade U. S. Industry ting his $150 diamond stickpin by The Lincoln highway i. more:-8- 6 Paper in Michigan . about an inch. than 3300 miles GREENVILLE. Mich., Nov. 2p WASIIINGTON, Nov. 20 (UR (U.f!) ; Dale Stafford, managing Mexican. "Wctbackv" who cross editor of the Detroit Free Press, the border illegally to work on a 'Koight! newspaper, announced American, farms, are ."invading" 'according to today that he has purchased the midwest'-industries- , Greenville Daily News and will thc :AFL National Farm Union. Un ion President II. L. Mitchell become its jpublishcr, effective : Dec. 1. said that Mexican 'workers.' after Stafford, bought the paper from bemg ."enticed" over. border Publisher Sherwood D. K. "Smith; find their farm wages are no,t owner since Jan. 1. 1946, who re "even enough to buy a starvation tained possession of the building diet.' .As a result, he said, the which , houses The Daily Newst Wetbacks head north for the high DAYS ONLY Smith was a vice presic'nt of industrial .wages. McGraw- - Hill Publishing c6m-- service trade 'Nearly every to skilled craft and industry is being pany in New York from 1942 To . 1947.(invaded by ' Wetbacks,'" .Mitchell f . Stafford. .43, a. native' r of St.! said. . OF Louts, Mich-- , joined , the "Free, The union leader said U. S. 11 Press nearly years ago and immigration authorities have , L. served s spouts editor and assist- - picked 'up Wetbacks in Chicago. om iHdiidKiiis truuur. oi'iote. ueing! uuii uii, rwnsas iiy, ana scaiue. ne said, they were appointea managing eaiior sept. in & 1, 1945. Previously; he had work- -' yorking on a railroad, Jn steel ed for the Associated Press in plants and meat packing plants. GREAT BUYERS Detroit from 1937 to 1941. ' Mand in the construction industry anui. retirement. We- - therefore expect that the result of our plan, when it is put in force, will be watched by those responsible for retirement plans in other segments of our. society. At the same time there 'has "We expect that the plan wilt be been a broad- and significant deavailable to the college world by velopment of privately financed 2. retirement programs; antl.in this mid-195- COUN1Y. Mama Leads Reds In Korean Battle j I his. Vr I . UTAH PROVO. V Basically, the proposal is to supplement the conventional re tirement 'annuity, which is paid in a fixed number of dollars, with a variable annuity in terms of a , fixed number of units whose cash value will fluctuate from year to ' year.; As these units will : represent participation in investment in common stocks, they can beex-.pecte- d to. produce extra dollars in those years when the cost of living is high and more dollars i. are consequently needed tain a given standard of living: We do not claim that the price level of common stocks rises and falls in direct relation .with changes in the cost of living, but an intensive study of what has happened over the years .actually1880 since encourages us to anticipate that the relationship is sufficiently parallel to help persons in. retirement to ease the pinch which comes when a risinga cost of living presses against fixed dollar income. FRANKFURT, Germany, Nov. UJ5. Secretary of Xefeaa Robert A. Lorett axrired bar ' fron Berlin, accompanied WASHINGTON, Nov. 20 CMS today Gen. Thomas T. Handy, comby America ia suffering battle cas- mander in chief of the U.S. army's ualties la Korea at rata higher than ia World War XX, but below European command. that of tha first world war, de fense department figures showed mark during the 18th month after ' thb) nation declared war on Ger today. A the Korean war approaches many. This was 11 month after the .end of its 17th month, the American troops entered combat. United States haa suffered about The United States suffered its 100.000th battle casualty in World 100,000 casualties la battle. battle War II during the 20ta month of In World War I, U. casualties reached the 100.000 fighting. World War1 Rate ' 4 Tour of Germany In Korea Abovo . Annuity Assn. Love tt. Handy On Casually Rato Quirks (U.R)l-Recordln- 'Hitchhiker Dies In Of Heart Attack The News Song Records -- s TcTTo Old Hermitage livers, 8 1 c 0 Ask for noor ,,.THC OLD HERMITAGE Atteittibii - I ,.r . - Kentucky bourbon hy I gs i; straight COMrANYkXNKrOIT. KXi Says LEFT Take Advantage . :) i T. H E Duckett Sales Service A. S E - M OPPORTUNITY SALE; j C a : SAVE '$100 RONALD DIXON " - E N, . On Any Post War Used Car 0 ' v ganHM"'MlBSHBHBiBlli I 4 KING L0VELAND " cars are priced far below ceiling "prices. It's a great opportunity fpfjthe used car. 'buyer..Trades qnd terms will Ki,....i-- 'fjMBSlBsMBWfe - ' - ; A R E All N B O N , E be made on all cars, 0 t MAX JOLLEY H L. rCOupon and mail DUCKETT SALES & SERVICE., bonded representative' will bring ,tk car of your choic. to your door f"or a complete inspection. If it is morp convenient drop in to our lot and ! mor than 35 fin used cars. A ' . 0 D out the attached to A. F ' E ' t Fill J ' L . I C FUED ANNERUD E N S E E S $100 A. .L. Duckett Sales $100 & Service Buyer's Opportunity Sale E 9 D S A L mm litmC) m&33i& as M mm rJLV E N X Norn ThonT E M City tody StyU Moke and year of car deitred Body Style II Make and year ofpreent car. E N S Address used This Giffcpupon may be used toward the purchase of any post-wcar at A, L. Duckett Sales tj Service. Value $100.00. Good until Nov. 30th, 1951. Coupon must be used at time of transaction. ar . |
