Masonry Magazine August 1965 Page. 19
What Have YOU Done For ME Lately?
Association executives and officers often overhear sideline members commenting like this: "I really don't know why I belong, I just pay my dues." Or "Sure they send a lot of good printed material but I don't have time to read it." Or "What have you done for me lately?"
This is a perplexing problem with the association because we constantly strive to do things for our members on a daily basis. Sometimes these results are apparent, sometimes they are not. But if anyone asks what The MCAA has done for him lately, we can point with pride to the adoption of the MCAA VARIABLE PENSION PLAN at our Executive Meeting on August 12-14, 1965.
The Insurance Committee first asked itself the question, "Is there a need to provide our members with a Pension Program?" After some basic research the answer was an overwhelming, "YES." The Social Security statistics alone were enough to make us want to make the program available. When added to the help problem and the other factors governing retirement it was felt our greatest single service the Insurance Committee could provide at this point was a Retirement Program for the MCAA members.
Accordingly, the members of the Insurance Committee searched to find a program that would:
1. Be voluntary.
2. Be flexible.
3. Be simple to administer.
4. Provide the necessary protection against the contingencies in any accumulation program.
5. Keep the cost lower than if purchased on an individual basis.
After considerable research, the VARIABLE PENSION PLAN proposed by the Bankers National Life Insurance Company of Montclair, New Jersey and Scudder, Stevens & Clark of Boston, Massachusetts, was adopted.
The plan is strictly voluntary. There is no minimum participation required. Each individual member may purchase it for himself and/or his employees or his employees may purchase it through him.
The plan is extremely flexible and can be used for a Qualified Pension Plan, Deferred Compensation Plan or Salary Savings plan, or any other way the law permits. The cost is also flexible. For example as little as $30 a month can start a program for an individual.
The State Street Bank & Trust Company is one of the nation's largest Custodial banks. As the Custodian of the plan, the bank does all the necessary administrative work in the program, handling your money, sending you your confirmation notices.
The program provides protection against the hazards of Inflation and Deflation, Disability and Dying Too Soon. Upon completion of the program, it provides a method whereby you cannot outlive your capital accumulation.
Those members enrolling in the plan will receive maximum benefits at low cost because of the group purchasing power.
Trained consultants will contact each member individually to explain the program so each member can make up his own mind whether he wishes to enroll. When going over the program, it might be well to ask yourself the following question, "I pay $30 a month per employee into a Pension Plan for my masons, how much do I put in for myself?"
We believe this program is the finest available Retirement Program for the MCAA. We believe it fills a definite need. We urge every MCAA member to look into this program carefully and then answer the question you have asked, "What have you done for me lately?"
MASONRY August, 1965
19