Business Meeting Before the Fellows I Was Fishing with the Country' Today, and I Ning to Me and Saying

20 - MANCHESTER HERALD. Mon., May S. 19M i f ! Drinking age Manchester High lli ji! 1-In k h : Stamp collector BUSINESS going to 19 nine tops EHHS eyes Falklands Be sure to designate a beneficiary for IRA .... page 6 ...pdge9 ... page 13 not receive that return,” says U n d ^ o t^ Because aQ sophisticated investors r equire.” By this date, you cannot help hut be aware that under ^ interest,eri dividends and gains on IRA Investments re 1981’s tax law, virtually all Americans who work for a ’ QUESTION!. What happens to money in your main tax-deferred, zero-coupon bonds are particuiarii living can contribute up to »4,000 a year tax-free to an Y o u r IRA when you die? suited for;|hvestment.” , . Manchester, Conn. IRA and then defer taxes on the interest, dividends or Also in a zero-couponz e ro -c o ^ n bond,oonu, yuuiyour totol j - - ' Gentle winds, ANSWER: Make sure you designate a beneficiary for discount from par. TTiis is fixed, thereby eliminating UK Tuesday, May 4, 1982 gains earned on the accumulated savings until Retire M oney's your IRA. Your beneficiary may choose to: 1) transfer sunny Wednesday ment or age 70 Vi. The publicity centered on Individual market risk of most bonds. the IRA funds into a tax-sheltered account and continue .............................. - & h l U m l h Single copy 25q: Retirement Accounts has been unprecedented and well W orth to defer taxes, 2) take the entire amount immediately Q^JE^ION: How does a rollover IRA differ from | — See page 2 warranted. Sylvia Porter and pay estate and income taxes, or 3) take the money regulaTlRA? i Yet, an astoundingly small proportion of you who are in gradual payments over 36 months or more and simply newly eligible for investing in IRAs have responded to ANSWER: A rollover IRA is a separate breed of ^ the lures from banks, brokers, insurance companies, be subject to ordinary income taxes. deferred retirement account. It is used solely to allow etc — solid or exaggerated. You have ignored the ob QUESTION: There’s been a lot of talk about a new people who receive a lump-sum dlstrihutlon from ■ vious advice to act as early in 1982 as possible to get the ANSWER! That depends entirely on your goals. type of Investment available called zero-coupon bonds. qualified retirement plan to continue to shelter thw maximum tax-exemption advantages. What’s wrong? Payroll-deduction IRAs can help employees plan for a What are they? Why would Uiey be particularly attrac money from taxes. For instance, if you change jobs o{ Whatever your personal reaction, I repeat, inve^ the financially secure retirement. That’s a big plus in the tive investments for tax-deferred retirement accounts? retire and receive a pension payment from your ol^ eyes of those managers who believe Innovative benefit company, you can “rollover” that money into a roUovW maximum you are allowed in IRA per year. Check out ANSWER: Zero-coupon bonds are bonds Issued by the aspects to include your spouse. Be conservative in programs are important in attracting and retaining IRA and continue to let that money grow tax-deferre® British jets . ^ , corporations and sold at prices substantially below your investments, for this is retirement money. And valued workers. Through a payroll-deduction IRA, you decide how “par” (usually 11,000 per bond); Unlike most bonds, (Job hunting? Sylvja Porter’s comprehensive new 3J|j maintain your contributions, for the advantages to you zero-coupon bonds do not pay coupon interest annually of tax-free investments compounding tax-free year much is taken out of your paycheck, eliminating the page booklet “ How to Get a Better Job” gives up-tof chance that you will spend that money. ’The only draw — thus their name. But at maturity, you collect par date information on today’s job market and how to tak* after year are wondroud to behold. Perhaps some of the value (the face amount of the bond) for the bond you following questions have stumped you. back to corporate IRAs, vs. an IRA you establish in advaUge of It. Send gl.95 plus 50 cento for postage and dependently, is, says Don Underwood, vice president of purchased at a discount. handling to “How to Get a Better Job” In care of ** retirement plans and services at Merrill Lynch, “your "Without the tax-deferred advantages offered in an hit airfiel(ds QlIFSTION: Your corporation ft establishing a newspaper, 4400 Johnson Drive, Fairway, Kan. 6( investment alternatives tend to be limited and, IRA, you would have to pay taxes each year on the payroll-deduction IRA plan. Is it wiser to go through projected zero-coupon bond return, even though you did Make checks payable to Universal Press Syndicate.) your company or established an IRA on your own. therefore, do not always offer the flexibility many 4 -1ft B rie f in Falklands High interest rates "V Gets contract By United Press International l'''f ........... ...... ill FARMINGTON — Emhart Corp. has received a British planes atUcked the air- Argentine forces improved as $3 million contract to build what company officials slow Watkins project fields at Port Stanley and Goose weather conditions in the region ■ say would be the world’s largest lathe. Green in the Falkland Islands today clwred The computerized lathe will be 60 feet long and 17 to ensure they cannot be used by the The National Weather service in — -------- feet high and will take 14 months to build under the By Raymond T. DeMeo a. “We’re looking at some major, major rehab work,” A rgentine occupation forces, Washington said infrared satellite contract from Westihghouse. It will produce tur Herald Reporter 'Watkins says. But the work won’t proceed further until Defense Secretary John Nott told photographs showed a wide front T l i m ^ h O U t f a i T D I S V bine rotors for power plants around the world. a financing package is worked out, he says. Parliament. with associated cloudiness had * ^ Emhart also announced last week its directors High interest rates — the bane of investors The new attacks followed moved off to the north of the approved plans to acquire up to 3 acres of land in everywhere — is holding up the planned 92-milllon plus Britain’s original blasting of the two Falklands m Manchester Community College president, Dr. William Vincent, listens as Taiwan to build a $4 million shoe machinery plant renovation of the Watkins Brothers building as office THE WATKINS project isn’t the first in town to be Sei“Ha?Her"fiS an “nv^ion®Sf"toe ftUn^s was members of the Manchester Community College Child Development Center to serve markets in the Far East. condominiums. waylaid by financing problems. Architect Richard bombers Saturday justified because they are owned by entertain him with a song,tebove. He responds with a tune of his own on the Lee Watkins, who owns the building with his father, Lawrence has had to put the brakes on his planned “Further sorties were flown today Britain and Inhabited by its sub- trum pet, b e lo v ^ a s N athanteL P les^ of 21 C hurch St. listens In rapt attention says the condo project is “on hold” until a financing purchase of the Buckland School for conversion to of VP elected package can be worked out that allows buyers to secure fices, because, be says, he can’t get a bank loan until he to make Port Stanley airfield un- jects. ’ * ' ' mortgages at “reasonable” rates. can guarantee the building will be 70 percent occupied. usable to light aircraft,” Nott said “We do not seek surrender, but we “We’re looking for alternate means of financing, in a statement to the House of Com- want them to withdraw and then to Watkins says that the Watkins Brothers piano and FARMINGTON — Paul Pronsky Jr. has been maybe a private investor, maybe a bank. We’re looking mons, outlining operations by the go Into n ^ tia tio n s for a long-term organ business wiU probably remain in the old building elected vice president for finance and administra at all sources of money. But it takes time,” says British naval task force. solution Jp ip tt said. “But they must , until the renovation is compTeted, tion in the North American operations of the Otis Watkins. , ^ , “ Goose Green also has been at- withdraw lirSt.” Elevator Co. tacked and effectively put out of ac- In Lima, two envoys of Argentine Watkins says ball, the-building’s 32,000 square feet of A furniture touch-up show in the basement, employing M Pronsky will be responsible for planning, direc tlon,” he said. President Leopoldo Galtleri met > usable space has “already been spoken for,” on the two furniture refinishers who worked at the old Watkins ting and controlling the financial and ad premise that mortgage financing can be secured. After the initial attacks, Nott Monday with Peruvian President ministrative programs at Otis’ North American Brothers store, is doing “extremely well” and will said, Port Stanley airport was Fernando Belaunde Terry to explain ; John DeQuattro, who handled the office condominium probably also remain throughout the renovation, “severely cratered.’’ The new at- the military junta’s rejection of a ~ < operations. conversion of the neighboring House and Hale Building, Watkins says. Pronsky had served as director of financial plan is marketing space in the Watkins Brothers building in tacks clearly were designed to pre- new U.S.-proposed peace plan, of- ning and analysis for Otis’ parent company.

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