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Show Thursday, Nov. 22, 1979 Emery County Progress 3B &ndA!spt !. Report examines state, local retirement costs Parents Help your teenagey find ways to release anger and trustration before he turns toy vandalism State and local retirement programs it is in sound condition, government in Utah are, though, in sound but that a moderate will pay $165 million condition (money will reduction in contoward public em- be available to meet tributions into the fund ployee retirement in all pension obligations would be justified. and the cost will as they fall due), and exceed a half billion many basic pension dollars in 1990 if benefits appear to be present trends con- reasonable, the report tinue, according to said. (This situation Utah Foundation, the stands in marked private, nonprofit contrast to conditions public service agency. in many other states, Costs include em- where unfunded ployer contributions to pension programs not both state pension only are unstable, but programs and Social also are undermining the credit standing of Security. local and Some elements of state the emgovernment, retirement Foundation said. Utahs public ployee programs be may and need of revision taxpayer support the programs is to over-genero- in Some other state if pension programs are of over generous to the be point of being called -- s of the retained, the Foundation said in a taxpayer. The most research report recent study of Utahs released this week. public retirement fund Utahs public indicated not only that rip-off- was This reduction 1979, effected on July 1, 1979 on recommendation of the Legislature. the Nevertheless, cost substantial very Utahs present public retirement of programs gives rise to sober reflection in many quarters, the A Foundation said. half - billion - dollar expenditure for public pensions in 1990 may be out of proportion with Utah's financial resources. Utah's public employee pension formula will become increasingly generous as time passes if the present law remains in effect. The Public Retireunder provisions of the retiring with not more Employee's ment Program (the present law would than 30 years service largest one of four have only four years exceeds the retirant's subject to the 1.1 final average salary, Utah retirement programs, percent rate, eight state benefits are comprising 93 percent years at 1.25 percent, reduced by the amount of all covered public and eighteen years at of that excess, However, if the employees) calculates the 2 percent rate, and retirement benefits by his benefits would be retirant has more than multiplying the final more than 50 percent 30 years service, aaverage salary of a of final salary, plus special formula applies, and the comretiring employee by Social Security. bined pension could In 2005 and the and of service year by years a sliding scale of thereafter, a person exceed the highest percentage factors: retiring with 30 years salary received for would apply works, ac1.1 percent times service 2 percent rate to cording to the Foun- the service of prior years to July 1, 1967; 1.25 the entire period, and dation. retirement Also, a person with percent times service state would be 60 30 or more years benefits 1, between July years 1967 and July 1, 1975; percent of final salary, service can retire at and 2 percent limes plus Social Security, any age with full pension beneftis. A years of service after state employee might July 1, 1975. shareofthe costs," the Foundation benefits appear public full-tim- A public employee retiring with 30 years service on July 1, 1979 would have 18 years subject to the 1.1 percent rate, eight years at 1.25 percent, and four years at 2 percent. of $42.50-46.7- 30 could undermine the retirement program itself, with serious detriment to the public employees who look to for the program Sura is the location of 2 g 5, 0; $41.00-44.5- lbs. 0 $1.00-2.0- higher, 0 instances $3.00-4.0- 0 lbs. Slaughter cows $59.00-62.7- lbs. lbs. 630 800-90- 0 $64.75-72.5- 0, lbs. 1,170 1, $63.50. OF OHIO 0 Goodness... what taste! 430-60- $71.00-76.5- 0, 600-89- 0 Orangeville We send gifts... Rita Humphrey 748-241- Come in and select food gift paks for Christmas. Take with you or we'll ship. We'll handle all the details and even enclose a personal greeting! 6 New members of our new sister and pulled community are Mr. the hot liquid onto and Magnifique Mrs. Randy himself, receiving Mellor from Delta and burns over his arm Mr. and Mrs. David and chest. Ruth Stilson acHyatt from Orem. We welcome these new companied Marge Ball and her son Mike to the people here. Mrs. Jessie Snow is Utah Valley Hospital from the east spen- in Provo to have ding some time with a Mikes broken arm set friend, Lillie Snow. Thursday. She is the mother of Mary Kay Estes Mac Snow of Price, spent Wednesday last and a former resident week in Provo for of Orangeville. Bertha 4 lb. BEEF STICK Summer Sausage, 8 oz. jar of Horseradish Sauce, two 8 oz. Edam Sticks, 7 VS oz. Belle Fleur, 8 oz. Muenster Cheese, 4 oz. Grapine Cheese, three 7 oz. Goudas, two 8 oz. Cheddar Sticks, 4 oz. package of assorted Gruyere Cheese, 5 oz. Smoky Cheese Bar, two 2 oz. oz. Cheese Spreads, 24 count Yankee Trader Tea Bags, Butter Kaese, 6 oz. jar of Sweet Hot Mustard, and Strawberry Bonbons l'i 50.00 Plus guaranteed delivery charge if shipped medical attention. Dower received a mission call to the LDS Portland, Ore. Mission. She will leave Jan. 17 to enter the MTC in Provo. Ian Storey had the misfortune Mitchell of bad burns Tuesday when he became curious about boiling bottles for the 1 Morticians R.T. Mitchell Robert H. Etzel receiving Phone 8 - Price BigRoundup 4 lb. BEEF STICK Summer Sausage, 7 oz. Plain Gouda, 8 oz. Edam Stick, 12 oz. Mild Midget Longhorn, 7Vi oz. Belle Fleur, 5 oz. Smoky Cheese Bar, plus 28.98 Strawberry Bonbons. Plus guaranteed delivery charge if shipped Velour Tops Pure Beef N Cheese Two 1 lb. BEEF STICK Summer Sausages, 8 oz. Edam Stick, 7 oz. Plain Gouda, 8 oz. Sharp Cheddar Stick plus 19.98 Strawberry Bonbons. Luxury Plus guaranteed delivery charge if shipped See these and many other gift paks on display at... $ 15 Reg. 18.99 and to own for day The top night excitement. Styled with clean, simple lines in clear colors, in diagonal or chain stitch sculptured textures Cotton polyester blend is machine washable. SML mOD3 CfWM IfSl 4 East Main Price Pixie 8 oz. Medium-SharCheddar Stick, 4 oz. Grapine Cheese, 5 oz. Smoked Edam Bar, two 2 oz. Cheese Spreads, a package of Lil' Oval Wafers, plus Strawberry Bonbons. 7 yg Plus guaranteed delivery Charge if shipped OF OHIO Castle Valley Mall 11 yL && 5. higher. Large Frame 2, 0 lbs. Slaughter bulls about Holsteins about couple 460 steady. Supply lb. 80 percent feeders, lbs. $78.00; $1.00-2.0- -- Come in for all your Christmas gift ideas and holiday decorating suggestions over package Large Frame higher on weights 600 , Closed Nov. 21 Nov. 29 5, 700-80- 0 $71.00-76.5- 0; lbs. wishes and drop your letters off early. Don't forget your name and 1,360-1,71- 0 $75.50-84.2- higher; steer calves package firm. Feeder heifers $85.50; Tell Santa your Christmas sup-stat- e 600-70- 0 $3.00-4.0- Mailbox 0. 5, steers Santa's 0 address. 500-60- 0 lEa&m Professional Bldg. Castle Dale, Ut. 4-- 5, 400-50- 0 V 'Ws Attention Children... years by age 50 and retire with a state to 1975 a lower 1, pension and 15 years July in his figure, perhaps in a remaining benefits 0; v security in retirement years." service 300-40- $95.00-102.0- over-generou- s, public be may and this alienated, support normal working life, ft: during which he could percent factor becomes applicable to work at another job more and build a second successively retirement This would provide pension. This practice, known Q' te sta as double dipping, is amounting to 37.8 November 16, 1979 cows: percent much criticized in ft remaineder mostly Slaughter of the Salable at auction cows. Cutter and Utility Federal Government final retirant's individual average salary, to retirement programs. .g 1,700 compared to 1,500 Feeder Steers: 0 $48.25. last week and 1,275 last Medium Frame 1, If Utah's public High Utility and which would be added with lbs. more retirants retirement Commercial year. Broad demand. Social program is Security lbs. $90.50-99.5Feeder offering benefits, the Foun- than 30 years service, to remain sound, it Bulls: dation said. lbs. Slaughter If the combined must retain the A attractive, many - Social Security selling in loads and $83.50-91.7port of the taxpayers mostly Yield Grade 1, However, an embis. ployee retiring in 1993 pension of a person who bear the largest packages. Feeder $85.00-90.0- Salina auction listings If e acquire series of steps as the said. retirement public East Main, Price Americas Leading Cheese Stores, |