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y *•.■ j ns.l-yyi^K'H ifJv- J li* i* * t-\ ,X'»jJt '. .-t', ^ ’p ’ .. '.;.' ••T , .X«fdX»« v » . *.. i ^ ,'• -fc ■* -V- V -S---^ -u ^.--4 .> . , v->-.^-f -y .i.-:. ^ ' r •:-, f ' 24 - THE HERALD. Tues., Feb. 2, 1982 Corporations assume no responsibility Hail national fMdnchest^ kfd^ IRAs can be switched firm to firm at job center archery champ hit the kitchdn ■ The major multimillions to flow into Individual QUESTION: Is this the wisest way to invest? QUESTION: What should you do if your employer K ... page 15 Retirem ent Accounts (IR A s ) and the largest number of doesn’t offer a plan? ... page 3 ... pagel 1 Americans to buy their IRSs under the liberalized rules ANSWER: ’That’s an answer you must make for ANSWER: Get together with your co-workers and effective this past Jan. 1 amost surely will be lured, in Your yourself. Mutual funds have had checkered investment via corporation payroll deduction programs. It’s easier records over the years and while money market funds speak to your personnel manager and immediate to invest in an IR A through small payroll deductions (as Money's have been superb investment mediums in the past few superiors about starting an IR A payroll deduction plan. little as $20 a month) than to invest a big chunk of years, equity funds have fluctuated widely. ’There also is Scudder, Stevens reports major corporations are the “ load” factor to consider. Lord, Abbetfs funds in money. Worth already making commitments (Schlitz Brewing, The corporations offering this extra “perk” to volve a sales charge of up to 8Vk percent if you start your Ralston-Purina, NCR, to name a few). Sylvia Porter own IR A outside of a ^ ^ o l l dedubtion plait, as little as Vk employees assume no fiduciary responsibility, no ad Manchester, Conn. ministrative work, no investment. The mutual funds of 1 percent if you buy your IR A throu^ your corpora An indication of employee interest is that 95 percent Rain ending offering their securities under the payroll deduction tion payroll deduction. ’The charge is for a group and the of employees from a irtde range of New York City firms Wed., Feb. 3, 1982 plans take over all the paperwork involved as w ell as savings are passed on to you. Scudder, Stevens & would favor making regular contributions to an IR A late ithursday management of your funds. Clark’s are “ no load” funds and you avoid the sales through a payroll eduction plan, according to a surVey 25 Cents costs entirely. by Chemical Bank, a leader in payroll processing ser — S m page 2 (Q UESTIO N: What’s so important about mutual QUESTION: What happens If you leave your job or vices. funds offering a “ fam ily” of funds to employees? It does make sense, for payroll deductions have prac employers since the outside IRA investment manager are fired? ANSWER: This is a vitai as well as a major selling provides each employee with a separate, cumulative tically become an American way of life, fitting into the point. Both Lord, Abbett and Scudder, Stevens & Clark, statement that itemizes each transaction, the amount ANSWER: You can keep your existing IR A plan con pattern blueprinted by U.S. Savings Bonds, in New York-based sources of this information, offer iarge invested, number of shares purchased, total shares in tributions as an individual if your new job doesn’t have themselves the greatest savings program in our history. diversified “ fam ilies” of funds. A typical group of funds employee’s account. an IRA payroll deduction policy, or you can switch Ip (Job hunting? Sylvia Porter’s comprehensive new 82- your new employer’s plan. This'is an im potent con page booklet “ How to Get a Better Job?” gives up-to- would include a money market fund, several stock and “Statements are sent to employees at home on a date information on today’s job market and how to take bond funds and a government securities fund. You, the monthly and quarterly basis for the year. Employers venience for large companies with employees in advantage of it. Send |1.9S plus 50 cents for postage and employee, “ can switch from one fund to another with no also are provided with comprehensive reporting different cities and a high turnover rate. Employers handling to “ How to Get a Better Job,” in care of this more than a telephone call,” says a Scudder, Stevens & systems that accurately show how much each employee notify their IR A investment management firm of the b illio n newspaper, 4400 Johnson Dr., Fairway, Kan. 66205. Clark spokesman. Adds Lord, Abbett: ‘"The extra has contributed to the IRA. The benefits are important changes; the follow-up paperwork is completely handled by the IR A manager. Make checks payable to Universal Press Syndicate.) 17 paperwork headache is virtually eliminated for all around.” /■ UTC sales, earnings higher despite 4th quarter decline By Jacqueline Huard year. United Press International O’Neill proposed a $5.2 million in crease for vocational educational H AR TFO RD (U P I) — United Technologies Corp. Connecticut plants, HARTFORD - Gov. William students in Bristol, Stamford and posted higher sales and earnings for 1981, despite a “ Difficult economic conditions are expected to persist O’Neill today proposed a $3.17 Manchester, and for tax and finan decline in last year’s fourth-quarter profits. into 1982, making it a particularly challenging year,” billion budget for the next fiscal cial incentives fpr businesses. UTC Chairman Harry J. Gray blamed the decline in Gray said Monday. year which represents a $216.8 The governor recommended $1.36 fourth-quarter earnings on a slump in the commerical “ In spite of 1982 s pressures, we will continue our million — or 7.3 percent — increase million to train and fund 120 new airline industry, overcapacity and price erosion in the heavy investment in the future,” said Gray, who is also over current spending. state troopers; $1.4 million to help semiconductor industry and soft automotive and con president of the company. “Research and product The governor, in his State of the reduce overcrowding in jails by struction markets. development in 1982 is expected to increase along with State address on the opening day of providing speedier trials and by UTC is the largest private employer in Connecticut. capital expenditures for new plants and equipment.” the 1982 legislative session, expanding the pre-trial release Among the products manufactured by its subsidiaries For the fourth quarter of 1981, UTC had sales of about proposed $18 million in spending and program, and $1.27 million to staff are Carrier air conditioning .and heating equipment. $3.51 billion, down from about $3.54 billion for the last borrowing for anti-crime related new jails. Sikorsky helicopters, Mostek semiconductors and Otis quarter of 1980. Net income for the last quarter of 1981 programs, including new jails for elevators. was $97.5 million, down from $102.5 million the previous O’Neill proposed appropriating men and women. $200,000 for a statewide career The conglomerate is also parent firm of the Pratt & year. His capital budget totaled $152 For the total year, UTC had net income of $457.68 criminal program and a Racketeer . Whitney Aircraft Group, which manufactures jet million. million in 1981, which represented a 16 percent gain Influenced and Corrupt engines and last week laid off 935 workers at its four O’Neill mentioned only one from the $393.38 million reported in 1980. Organizations, or RICO, program. measure outside of budget items Adoption of a new financial accounting standard for The governor also recommended he’d like to see approved. He asked foreign currency translation eliminated $43 million that appropriating $3.5 million and bon the Legislature to strengthen laws would have been charged against earnings under prior ding $46 million to increase the against drunk drivers. State climate accounting regulations, the company said. state’s highway maintenance and “ The staggering toll of human life construction program by $18 million • UTC said its 1980 sales increased by 11 percent from Herald photo by Tarqulnlo and property damage taken by 1980 levels to more than $13.66 billion. Fully diluted ear GOV. WILLIAM O’NEILL over current spending. drunk drivers must be curbed,” he The capital budget includes . nings for 1981 were $7.05 per share, which was an 8 per Let the water flow said in his first talk before law ... stop drunk driving for business cent increase from the $6.51 per share recorded in 1980. • $13.7 million for a new 156-bed makers since November. “ Those The company’s government sales for 1981 increased 39 women’s unit and a 200-bed men’s who violate these laws must know political oneupsmanship, but in a percent from 1980 to more than $3.85 billion, while com ■ TWJ.^yvn amptoy«M. Sutch Savirto, ten« and. roada jjift covenad with w a ^ . blocked patph unit ii> Cheshire plus 400 new beds to that titelr' punishment. wil). Jnq. m erical and industrial sales rose 3 percent and ac ----------- 1, icbfp.ayvay,|itjii^ blocking jg calpKijaybaalna-GMiae ayproblem.-^ - . or judged poor , seveta.’Lif. :■ r-.i -i.,-;. - expansion of existing facilities. counted for 72 percent over total revenues for 1981. tn the r a in e d tfiftthciw causing the ^ *1116 last tifhe the governor ad O’N iu T said tax increases and Gray said the company's diversification strategy had • $11 million for e co n o m ic Line hosts agents dressed the Legislature was when budget cuts approved by the development, most of it for grants “ withstood the test of economic difficulties that have H ARTFO RD (U P II — A survey indicates Connecticut he convened the special session Nov.