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PAGE 14 - PLAINDEALER-WEDNESDAY, OCTOBER 15, 1975 Offer "Travel And Adventure" Series In County The Kiwanis club of Crystal Lake is presenting its six­ teenth annual "Travel And Adventure" series which will include six nationally known adventurers and explorers who are artists in the travelogue field. They appear on such major platforms as National Geographic, Washington, D.C.; Town Hall, New York; Orchestra Hall, Chicago; and Town Hall, San Francisco. Each is a professional photographer with many years' experience in traveling and filming the many beautiful and interesting places around the world. These personally filmed, .all-color motion pictures are especially popular because the man who filmed the picture appears on the stage in person and narrates his film. In ad­ dition to the thrilling motion pictures and the personal narration, many of the travelogues include a musical background and special sound effects for additional en­ joyment and realism. A season ticket for all six travelogues is offered. The Travelogue series begins u.s <cr th Featurette II For the worker without a retirement plan, there's good news these days thanks to changes in the Nation's pen­ sion laws. Any employee who is not an active participant in a tax- qualified or a Government re­ tirement program can now start his or her own plan. What's more, he or she can enjoy many of the tax advan­ tages previously the exclusive right of employees of large corporations and union mem­ bers--that segment of the work force, generally, with re­ tirement plans. Here's how the new setup works. The worker is eligible to make contributions of up to 15 percent of earnings, to a maximum of $1,500, each year into an individual retirement savings program or account. Now the idea is that this ac­ count should grow substantially Tuesday, Oct. 21, 7:30 p.m. in the Crystal Lake high school auditorium. over the years. Meanwhile, the employee is not required to pay taxes on any of the contribu­ tions or on any interest or dividends that might be earned, until the money is withdrawn--normally at re­ tirement age. At that time, chances are the person will be in a much lower tax bracket. Because the legislative pur­ pose of the new pension legis­ lation was to encourage indi­ viduals to provide for their retirement needs, distribution of savings, generally, are to be made after age 59 Vi and must begin by age 70V-2. A 10 percent penalty for eStly dis­ tribution of funds is provided for so that most individuals will be discouraged from at­ tempting to use the funds prior to age 59 V-.. Once an employee has deter­ mined eligibility, the next step is to choose from the five basic retirement savings programs which are available. All encom­ pass the same general tax ad­ vantages and limitations. First, there's the Individual Retirement Account, often re­ ferred to as an "IRA account." Such accounts may be estab­ lished at banks, savings and loan associations, and Feder­ ally-insured and certain other credit unions. While the indi­ vidual plans may vary from bank to bank, generally, the individual places his tax- deductible contributions into a savings account, or in savings certificates, and the accumu­ lated money, as well as the interest earned is used for retirement. To start an IRA at a bank or other financial institution, an interested individual can go directly to the place of his or her choice where the proper papers can be drawn up and signed and the IRA opened. Or some persons may, first, prefer to visit or call their local IRS office to get a free copy of the publication, "Tax Information on Individual Re­ tirement Savings Programs" --IRS Publication 590--and "bone up" on the whole sub­ ject. At IRS offices, "non- covered" employees can also secure Form 5305 (Individual Retirement Trust Account) and Form 5305A (Individual Retirement Custodial Account) and take these forms to a financial institution to sign up for an IRA. Whether an indi­ vidual uses the forms available at IRS offices or those at a bank--which usually also rep­ resent an IRS-approved agree­ ment--is essentially imma­ terial. As a second option for the person looking into a retire­ ment savings program, there are annuity contracts arranged with life insurance companies. What is involved here is an annuity or endowment con­ tract which is nonforfeitable, nontransferable, and for the exclusive benefit of the annui­ tant or his or her beneficiaries. Ordinary life insurance does not qualify because the inten­ tion of the law is to provide retirement income, not an estate for heirs. The^IRS sug­ gests that individuals inter­ ested in programs featuring annuity contracts check with a reputable life insurance repre­ sentative. The free IRS Publi­ cation 590 also contains some information on this type of retirements savings program. Certain investments in stocks and mutual funds rep­ resent a third possibility for the person eligible for a pen- vu »rv I ( .( > v\i K v M »1 3 DAYS ONLY Thursday, Friday, Saturday. Hurry. Limited quantities. Blemished steel-belt radial tire sale 4 for* 119 i*7«-i:* INn-. 1.63 to 2.16 K.K. I". «»urli Plus 2.07 lo 2.15 F.E.T. curli tirr. Sizes DR78-14, BR78-15. 165R-15. 8 Plus 2.55 to 3.01 F.E.T. ciu'li tirr. Si/.<'m KR7JM I. and KK7II-I I, Plus 2.89 to 3.36 F.E.T. each tirr. GR78-14, GR78-15, HR70-14, HR70-15, WARDS warrant* poi'JTnfljr cor hrn for tpeofied mile* when uved on poMenger cor*, e*cep» »o«'* your t.re doe* not g«ve you tfc«* mileage because of d^ect*. normol rood hoiord fadure. or premature tread weorout. WARDS will 1 During ••'*• 10® o of worront«d mileoye. -epioce the tire free. 2 During th« rema<n.ng m«leoge. reploce for a prorata charge txivrd on mileage u\ed For od|UN<m««ntv return »«re *0 writh Wo* ronty Booklet Proro'u charge bated on price »n effett at timi of return 0» bronch to which returned, including Federol E*cn« To THESE TIRES ALL HAVE MINOR IMPERFEC­ TIONS OR BLEMISHES THAT DO NOT EFFECT THEIR SERVICEABILITY. Plus 3.66 to 3.76 F.E.T. «*aeli tire. Sizes J70-15, JR70-15 and L70-15, LR70-15 REPLACE WORN TIRES NOW ___ MONEY DOWN WITH CHARG-AIX Trust our car care. [rAV ̂y ij Z"Lof* D MONTOO/VAEFx'Y spirit of, value For your convenience the AUTO SERVICE IS OPEN 7 DAYS A WEEK Mon. thru Fri. 8:30 a.m.-9 p.m. Sat. 8:30-5, Sun. 12 Noon-5 Crystal Lake I 0.~> \oiihut'«l 11 iyliw a\ K o u h I I Hiom l.v>-:*i2o I i n I T \ K k l \ ( , sion plan through a retirement savings program. Here, again, purchases up to 15 percent of earnings, with a maximum of $1,500 a year, may be made and any interest or dividends earned are non-taxable, until withdrawals begin. Of course, anyone interested in this type of arrangement should be aware of its highly specula­ tive nature or various com­ missions that may be charged. Because of various technical requirements, it's best that the person check not only with his or her mutual fund salesman, prior to setting up the account, but also with the IRS. A fourth type of retirement savings program can be drawn up through employer and em­ ployee associations--&ch as union s--w h i c h sometimes sponsor trust accounts to help employees set up individual retirement savings programs. Usually company or union newsletters and bulletin board notices alert employees to these programs and make available the pertinent infor­ mation. Finally, special U. S. Indi­ vidual Retirement Bonds rep­ resent a convenient and a fifth format for a retirement sav­ ings program. These non­ transferable bonds, issued in 50-, 100-, and 500-dollar de­ nominations and bearing six percent annual interest, are not the familiar U. S. Savings Bonds and are available only from Federal Reserve Banks and their branches. The bonds can also be purchased by mail from the Treasury Depart­ ment's Bureau of Public Debt, Washington, D. C. 20226. As with other types of retirement savings programs, the pur­ chaser of bonds is limited to $1,500 annually, or 15 percent of earnings, whichever is less. An advantage to these Gov­ ernment bonds, of course, .s the absence of management or trusteeship expenses. The "new look" pension pro­ gram also lends a boost to the individual who joins a firm, but because of his or her status as a new employee, is ineligible to join the company plan for a specified period of time, a year or two usually. These workers are free to set up their own retirement sav­ ings programs. Now how about the person who has a qualified pension or profit-sharing plan but leaves the company before retirement age? On the surface such an employee--if he or she re­ ceives the amount owed from the plan--must pay tax on the difference between the amount received and that contributed over the years. However, pen­ sion law now provides that the tax can be deferred until after retirement if the funds are invested in an individual re­ tirement savings program within 60 days. These sav­ ings, known as "rollover" con­ tributions, are not subject to the $1,500 annual limitation. Along the same lines as "roll­ over," at any time, an indi­ vidual has the option of trans­ ferring from one retirement savings program to another-- the main point • being, of course, to know the types of plans available and to choose wisely. . Real short dresses seem to be completely out of style this season. The ma­ ture woman, with a dress above the knees, looks like last years model! The short hair cut is not for everyone. It is smart for those whose faces are the proper shape and size. j CROSSWORD • • By A. C. Gordon ACROSS 1 - Irremediable 10 - Lamprey 11 - 'That la" (Latin Abbrev.) 12 - One or the other (abb.) 14 - Depression 16 - Public notice 17 - Look of scorn 18 - Mrs. Deer 19 - That thing 20 - Beverages 21 - Acquire 22 - A covering 23 - Correspondent's • afterthought 24 - Garden utensil 26 - Miscue 28 - Nature's climbers 29 - "For example" (Latin abbrev.) 30 - Exist 31 - Tennis term 32 - Compass point 33 - Sphere of action 34 - ...power 35 - Beast of burden 36 - In reference to 37 - Let It standi 39 - Beginning of liniment 40 - Inspired fear 41 - Oldttme "yes" 42 - Man's name 45 - Nominated 46 - Printer's measure 47 - Ignore 48 - Comparative suffix 49 - Preposition 50 - Feminine Item of apparel 51 - Inexpressible DOWN 2 - To deny 3 - Soak flax 4 - Aerial train EBtjaaaaEEiSE m nun nn PFI PI UUIE CE Eaunia uliu ua iiaao E uuiu utJ'JB tutu BBC dinn kirciFinra £JU L'fcJIti iilCJQ HEO E£1JUJ LIU£l fcJUli! BQ EBB U UElltjU UftJ 0H3 utOEiijfcj uu 'jiuaa til ULJ tlU U UftjUUtJUEJUUEJIJ 5 - Assist 6 - In reference to 7 - Advantage 8 - Recline* 9 - Total 13 - Green herbages 15 - Educational Orders (abb.) 16 - Preposition 17 - Slipshod 19 - Repeated 20 - Aorta (abb.) 22 - Rib lie convey­ ance (abb.) 23 - Confines 24 - Earshot 25 - Monster 27 - In reference to 30 - Solutions 31 - Musical note 34 - Natural high spot (tbb.) 35 - Brute I 38 - Male nlf trTMWir 40 - So be itl 41 - Have belqg 43 - U.S. state (abb.) 44 - Eroded 46 - Greek letter 47 - Spherical body 49 - Scottish "one 50 - College degree Former 4-H'ers Join Alumni 'Hall Of Fame' CHICAGO--What do these well-known Americans have in common: Alan B. Shepard Jr., the nation's first astro­ naut; Roy Rogers, movie- dom's popular cowboy; and U.S. Sen. Howard H. Baker Jr. of Tennessee? All three are former 4-H'ers who have received top honors during past years in the national 4-H alumni recognition program. The program is sponsored by Olin Corporation, Agricultural Di­ vision, with awards arranged and announced by the Na­ tional 4-H Service Com­ mittee, Selection criteria The alumni honors /go annually to former 4=H'ers who have been successful in civic, professional, business and public service activities and whose backgrounds in 4-H have contributed to their success. Awards are presented at national, state and county levels. In 1975, eight outstanding national winners will receive 10-carat gold keys and ex­ pense-paid trips to the 54th National 4-H Congress, Nov. 30-Dec. 4 in Chicago. Four state alumni winners will be honored with plaques and four county winners will get recognition pins. Nominations are in order Candidates for alumni re­ cognition may be nominated by volunteer 4-H leaders, 4-H members and clubs, parents, extension personnel, business representatives and other in­ terested individuals or groups. Winners are selected by the Cooperative Extension Serv­ ice, which conducts the 4-H youth program. 33 million Americans are 4-H alumni. The national 4-H alumni recognition program encourages their continued interest and involvement in 4-H and commends them as living examples of depend­ able, purposeful citizenship. Since the inception of the alumni recognition program 23 years ago, 176 former 4-H'ers have received national awards. 2,875 have earned state awards and 38,505 county awards. Additional information on the program and nomination forms are available from county extension agents. Only the Newspapers* cprr MOUNTING PUBLIC AUCTION HAVING SOLD MY HOME, MOVING TO WARMER CLIMATE, I WILL SELL AT PUBLIC AUCTION LOCATED AT 4247 GRAND AVE. IN GURNEE, ILL. (GURNEE IS LOCATED WEST EDGE OF WAUKEGAN), ON SAT. OCT. 18 - 11:00 A.M. 10 ROOMS WALNUT. OAK, WICKER FURNITURE HOUSEHOLD GOODS: 2-pc. beautiful black walnut Victorian IVz' tall bedroom suite, drop center dresser with whit£ marble, all complete and original; 48" oak harvest table, large claw feet, center pedestal, leaves, 6 matching spindle chairs; Lincoln rocker with cane back; 6' refinished oak wardrobe; oak bookcase secretary; fancy walnut parlor table with marble top; oak desk with swivel chair; very unusual wicker baby buggy with parasol; 2 new Kroehler fireside upholstered armchairs; solid oak, curved glass, china cupboard; 8' church pew; spindle back arm rocker; pair wicker chairs; ice box; oak washstand; fancy oak stand table; 2 • pc. kitchen flour cabinet, lots of drawers; oak and wicker high chair; 5-pc. ice cream set; wire chair; 3 carved back oak upholstered parlor chairs on rollers; walnut bedstead; wooden floor lamp with leaded shade; 3-drawer solid oak chest; 2-pc. maple bedroom suite; sofa-bed; child's rocker; sheet music cabinet full of music; like new Formica dinette set; 2 twin size Hollywood beds; rollaway and iron beds; dressers, chests; trunks; baby bed; bookcase; base cabinet; brass hall and toilet trees; walnut frames, beautiful pictures; coach light; old Acmeflex Kitset radio in original box; throw rugs; handmade doll furniture; bedding, sheets, towels; luggage; picnic table and benches; fans; cots; kitchen utensils, appliances, glassware, what­ nots, trinkets; also large walnut gateleg table; PRIMITIVES - DISHES - COLLECTORS' ITEMS UNITED STATES COINS GRACE J. 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