Masonry Magazine May 1961 Page. 17
STARK
Structural Glazed Tile are produced mainly in vertical type to assure better bonding, easier-less costly ing, and solid bed and head joints. Write for complete log.
ARK CERAMICS, INC., CANTON 1, OHIO
Pension Plans
(Continued from page 9)
rred to him until his union people them. Then he decided that his cal personnel should have them, In asking around, however, he formed the impression that his p was too small to be eligible for nsion plan.
There was a situation where solving atively minor problem opened up jor opportunity. We showed him the size of a pension group is no er a limiting factor. Instead, it him the opportunity, as a par- ant in a plan for salaried work- ko be the biggest gainer. By set- up a plan which provided pen- of 40 per cent of salary, the bulk e tax-free pension deposit goes n.
ce installing the plan, he has a step further by taking on a "right-hand" man with the wht of gradually easing out of participation and eventual re- sent. The pension plan actually this possible. First, it assuгев of a fund which will go well $100,000 by his selected time etirement. Second, it made it le for him to hire a top calibre who will be able to continue irm as a going business, and, actually buy him out.
OWENS-ILLINOIS GLASS BLOCK
keep costs down
O-I Class Block arrive on the job site packed in sturdy cartons. No loose block to handle. Panels can be made to fit any size opening. No frame is necessary. Mortar- bearing surfaces pre-coated with special grit material for easy in stallation. Exterior faces have O-I's "magiclean" finish for easy cleaning. Available in 3 sizes and a variety of decorative and functional pat terns. Wide distribution. Write Kimble Glass Company, subsidiary of Owens-Illinois, Dept. MCN, Toledo 1, Ohio.
Case No. 5
More and more, we run into situa- tions where the problem is not the installation of a new plan, but "get- ting the bugs out" of an old one. This is to be expected, because older programs were based mostly on "stock
A satisfactory pension plan must be tailored to the individual need and desire.
model" plans hemmed in by ideas and restrictions which have since been greatly liberalized.
The Acme Mfg. Co. is a good illus- tration. Their plan was 17 years old, and covered both salaried and hourly workers, 77 people in all. The problem was that it did not provide sufficient deferred compensation for the key people and the owners. By changing the pension benefit formula, and using Social Security benefits as a base (with the company plan simply mak- ing up the difference) we were able to increase by approximately 30 per cent the amounts credited to key men and the owners. The surprising thing is that, as in most cases of this type, these increases did not mean a higher pension cost for the company.
Obviously, these are only a few of the problems and opportunities- which companies encounter in consid- ering pension plans. If you have a situation not covered here, and would like help or advice, simply write me in care of MASONRY or at my office (60 East 42nd St., New York 17). I'll do my best to give you a prompt, clear-cut answer.
Next month, in the concluding arti- cle of this series, you'll find a shirt- sleeve question-and-answer session to some of the inquiries heard most often from companies in the mason contracting industry.
Secret of economy is to live as cheaply the first few days after pay- day as you did the last few days be- fore.
Parents are people who bear in- fants, bore teenagers and board new- lyweds.
KEYWALL
LVANIZED MASONRY
INFORCEMENT
Gives greater crack resistance
Adds strength at lower cost
STRUCTURAL FACING TILE
meets modern demands for
MODEST COST MAXIMUM UTILITY
MINIMUM MAINTENANCE
Write for Catalog, Shape List and Dealer Listing
WEST VIRGINIA BRICK COMPANY
Charleston 24, West Virginia