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Show THE SALT LAKE TIMES Page Seven FRIDAY, JULY 2. 1976 State & Local Workers Consider Social Security Withdrawal Because of rapidly rising costs and uncertainties regarding the solvency of the system, many governmental units across the nation are dropping out of the Federal Social Security program. This was reported by Utah Foundation, the private research organization in a study of social security and public employees. The Foundation analysis shows that 138 cities, counties, and other jurisdictions have given up their membership in social security during the past two years. In addition, another 207 governmental units, including New York City, have Hied notice of their intent to follow suit. In Utah, the question of dropping out of Social Security will be carefully reviewed by public employees and public officials in the months ahead. According to the Foundation study, the option of canceling social security coverage is unique to state and local governments. For most Ameremployed and icans working in the private sector, payment of Federal social security taxes is mandatory. Under Federal law, however, state and local units may withdraw from the program by declaring their intent to do so at least two years in advance. Currently, every employee pays up to $895 per year in social security taxes. This sum is matched by the employing unit. These amounts are scheduled to rise in the years ahead. Thus, over the next five years, up to $10,900 in employee and employer social security taxes could be saved for each public employee or teacher who is withdrawn from the system. The report points out that all or part of these funds could be used to set up a supplemental system to replace social security coverage. A major attraction for withdrawal, according to the Foundation study, is that the Federal self-employ- entire job with monthly installments added to your regular gas bill over an period (finance charge is 18-mon- th per month, or 12.68 ANNUAL PERCENTAGE RATE). Offer is limited to existing homes or duplexes served "by Mountain Fuel Supply and is sub1 ject to credit approval. Mountain Fuel has folders and brochures detailing the value of proper insulation as well as a helpful guide on how to install insulation yourself. Pick up your free copies at any office of Mountain Fuel Supply. Withdrawal from the system would allow a governmental unit and their employees to escape this long-terobligation. Thus, many of the governmental units which pulled out of Social Security have found that by starting from scratch they have been able to establish Sosystems that will it cial Security on a basis. Foundation analysts warn, however, that theremay be some drawbacks to employees who withdraw from Social Security. For example, benefits under anyt new system may not be tax exempt; retirees may not receive free medicare hospital insurance; and work credits may not be as readily transferable as are Social Security credits. As a result, the Foundation report suggests that the pros and cons of withdrawal should be carefully examined before any final decision is made. At the present time there are 344 state and local governmental units in Utah that are covered by the Federal social security law. These units currently employ about 80,-00- 0 individuals, and social security taxes paid by these units and their employees amount to about $71 million a year. The Utah Foundation study emphasizes that the option of pulling out of Social Security affords these state and local units along with their employees a possible opportunity for savings that is not provided to those who are employed in the private sector of the economy. m out-perfor- m cost-benef- s Attention all skeptics who won- was Michael Lomax, der whether thee's any spark left in old, 7997 DaVinci, Salt Lake City, the American spirit: the National Utah, second place for a poster, America Forever. PTA emphatically answers YES!" Among the intermediate grade Proof of this positivism can be winners (fourth through sixth) infound in the 36 students who cluded Linda Lee Anderson, captured first, second, or third 13217 South 1830 West, old, place in the organizations National second place for a Cultural Arts Reflections Project. Riverton, Utah, Old Glory. Theme for the 1975-7- 6 contest was painting, 177 entries in the were There of Miracle 76 of The Spirit America. Winners were selected literature category, representing from a total of 477 state finalists poetry, essays, and short stories. Among the winners in the interand were announced at the Nationmediate al PTAs recent annual convention grades were Gaelynn eight-year- 12-yea- Louisville, Ky. Now in its seventh year, the Reflections Project offers elementary and secondary school students the opportunity for ceative expres- sion in the visual arts, litterature, and music. Entries in each division are divided into four categories: primary, intermediate, junior high, and senior high. The Reflections Project is conducted by the PTA's Commission on Individual Development. Helen of VanDermosten, the commission and chairman of the 1975-7- 6 competition, cited some of the objectives of the annual exhibit. Through this project we hope to emphasize the value of cultural arts in school, to recognize creative students and encourage them in the field of cultural arts, and to use the students work as a medium through which adults may gain deeper insight into the feelings and concerns of the younger generation, she said. The 190 entries in the visual arts category included paintings, drawings, sculptures, collages, and constructions. Among the winners in the primary grades (first through third) vice-chairm- an Deadline for applications is December 31, 1976. ployees. Seven Utah School Children Winners of National PTA Contest in Supply. social security system has accumulated an actuarial deficit of between $2.5 and $3.0 trillion over the past forty years. This is the difference between the present value of benefits social security has promised to current workers, and the present value of all scheduled future taxes that it expects to collect from current workers and their em- rs old, 5027 South Wrigley, 2575 West, Roy, Utah, first place for a poem, The Miracle of America, and Terri Crosby, eleven-year- s old, 2082 West 7560 South, West Jordan, Utah, second place for her composition, George Washington and the Spirjt of 76. Senior high school winners included Danae Myer, old, 1425 East Oak cliff Parkway, Provo, Utah, second place for her poem, The Spirit of 76". Music entries totaled 110 and includes scores with and without words. Among the senior high school winners is Ev Ann Dahl, old, 765 Columbia Drive, Midvale, Utah, third place for an accordian piece, Paul Rvere. ten-yea- rs 17-yea- rs 15-yea- rs BIRTH DCfCCTS AR6FORCV6R. UniSS YOU KIR mARCH Of |