Masonry Magazine January 1973 Page.24
The Perlite Way to Fill a Cavity
Heat transmission can be reduced by 50% or more when silicone treated perlite loose fill insulation is poured into the hollow cores of concrete block or cavity type masonry walls. In fact, cavity walls of face brick and tile show a 63% reduction! But that's not all. Silicone treated perlite loose fill insulation is water repellent-indefinitely.
Specs call for a concrete block wall? Perlite loose fill insulation can help too! By filling the core holes with perlite loose fill insulation your fire rating will be doubled to 4 hours and your "U" factor improved by 54%. And you don't have to worry about permanence. Silicone treated perlite is inorganic and rot, vermin and termite proof. And it's non-combustible with its fusion point of 2300°F.
Even a veneer wall of brick and concrete block can show a 52% improvement in insulating value when filled with loose fill perlite. Don't worry about settling -silicone treated perlite supports its own weight in the wall without settling-and it's easy to handle too! Thanks to its countless glass-like cells it's light-weight and easily poured. It's quick-it's inexpensive and it's permanent-the perfect material for insulating masonry walls.
Perlite Institute, Inc.
45 West 45th Street
New York, N. Y. 10036
212-265-2145
Taxes
(Continued from page 23) time. While graduated vesting does provide for more freedom of movement to employees, it also affords an incentive to employees to stay with an employer so that more vested benefits can be earned.
AGE NEUTRAL
-mcool
This bill would make the age of the employee irrelevant so far as his vesting rights are concerned. The vesting requirement is to apply equally to all pension plan participants regardless of their age. This is to be done even though the Committee is aware of the fact that it would be wise to grant older people vested rights to their accrued pension benefits more quickly than younger people. Certainly such age-related vesting requirements would achieve a worthy social objective of according vested rights to mature employees who are most in need of having secure pension rights.
Nevertheless, the Committee felt that such age-related minimum vesting requirements would hamper older workers in obtaining new employment because it would involve higher pension costs for them as compared with younger employees. Furthermore, providing employees with vested pension rights at relatively early ages would tend to spread the cost of providing pensions more equitably over the various employers for whom they have worked during their careers, instead of concentrating these costs on the firms that employ them in their mature years.
Finally, it is believed that the additional costs to the employer of financing pension plans involved in the minimum vesting requirement will be moderate.
INADEQUATE FUNDING
A third problem area that the bill is directed toward remedying is that of inadequate funding for pension plan benefits. The new funding standard would not only require the contributions to qualified plans to be sufficient to pay costs attributable to the current operations of the plan but would also require the contributions to be sufficient to amortize the initial unfunded past service liabilities in level payments over a period of 30 years or less, instead of merely providing that the contributions be sufficient to meet the interest payments on such unfunded liabilities as under present law.
Should an employer fail to contribute a sufficient amount to meet the new funding requirements, he will be subject to a nondeductible 5% excise tax per year on the amount of the underfunding for any year. If the employer fails to make up the underfunding by 90 days after the original notification by the IRS, then the employer will become subject to a second level excise tax amounting to 100% of the underfunding.
PLAN TERMINATION INSURANCE
The bill provides for the establishment of a corporation that will insure employees against the loss of pension benefits resulting from plan termination. This corporation will be called the Pension Benefit Guaranty Corporation, with the Secretaries of Labor, Commerce, and Treasury as trustees and the Secretary of Treasury as managing trustee.
The insurance under the program is limited to the vested benefit provided under the plan up to 50% of the average (Continued on page 34)
masonry
Nov./Dec., 1973