The White Falcon - 06.06.1980, Blaðsíða 3

June 6, 1980
The White Falcon
Page 3
ffave through the savings bond program
mi __t _• Hr c Viol n f i ncrw'o ♦* Vie» ^ U ^ ^ U ^ ~ J -f „ .. ^„ V, -f 1
Sta
The annual savings bonds campaign
is being conducted this month.
United States savings bonds play a
vital role in the management of the
public debt. They are stabilizing,
anti-inflationary force in the econ-
omy.
Savings bonds are a safe, -system-
atic means for the individual to ac-
cumulate funds for future financial
security.
The following is a message to all
Department of Defense personnel from
The Secretary of Defense, recently
appointed by the President to be
Chairman of The Interagency Savings
Bonds Committee:
"How can we display our united
support for the efforts of our na-
tional government in dealing with
the serious problems facing us both
domestically and internationally?
How can we, as individual employees
of the federal government; help turn
the tide of inflation; help protect
our vital national interests abroad;
and help end our over-dependence on
foreign oil by becoming energy self-
sufficient?
"Soon one of your fellow employ-
ees, canvassing for the United
States Savings Bonds Program, will
contacting you to explain how you
have a stake in your country's
ure security and, at the same
ime, painlessly save money to help
build your own financial security.
"Savings bonds help finance the
programs of our national government
in a highly stable and anti-infla-
tionary way. At the base of this
program are millions of people like
you, with specific goals in mind,
saving whatever they can.
"As many of you are aware, the
Treasury Department, in an effort to
trim administrative costs in the
program, has introduced a new series
of bonds offering a new set of be-
nefits to buyers. Briefly a few of
the facts about the new series EE
bonds are: They now earn 6 1/2 per-
cent interest when held for five
years; with a 1/2 percent bonus for
holding them the full 11 years to
maturity; giving a full return of 7
percent per annum for those 11
years. They can be purchased
through convenient payroll allot-
ments of as little as $6.25 per
month. They can be purchased for
one-half the face value in denomina-
tions of $50, $75, $100, $200, $500,
$1,000, or $5,000.
"They can easily be replaced if
lost or destroyed. They are not
subject to local or state income
tax. The federal tax can be de-
ferred until the bonds are redeemed.
"The unique tax advantages of
savings bonds can be used to great
benefit when saving for the educa-
tion of your children or to supple-
ment your retirement income. If you
Waldron promoted
to Colonel
Warmer weather
expected in June
purchase bonds in your child's name,
and have the child report accured
interest. The income is sheltered
by the child's personal exemption.
"There are two tax-saving ways in
which savings bonds can be used to
help you enjoy a more comfortable
retirement. You can postpone re-
porting the interest from savings
bonds until you collect it. Many
individuals benefit from this option
at retirement when they are in a
lower tax bracket.
"If you are 65 years of age or
older, you will also benefit from a
double exemption.
"You may exchange your series E
or EE bonds for series HH current-
income bonds. Keeping your princi-
pal intact, you will be able to en-
joy semiannual checks from the Trea-
sury Department at the current in-
terest rate of 6 1/2 percent. All
accumulated interest from the series
E or EE bonds will deferred from tax
liability for at least ten years or
until the HH bonds are finally cash-
ed. The tax rate will then be based
on your lower retirement income.
"Whether to finance a college ed-
ucation; to supplement a retirement
income; or just to build a rainy-day
fund; participants in the payroll
savings plan know that savings bonds
can help them attain these goals.
"So when your canvasser meets
with you; listen with an open mind;
I am certain you will be convinced
that buying bonds is a great way to
save," concludes The Secretary of
Defense.
Luke is Det. 14’$
Air Force Colonel Larry D. Wal-
dron, Air Forces Iceland Vice Com-
mander was recently promoted to his
present rank. The pinning on the
Eagle ceremonies were held in Col.
Wagoner's office by Col. Paul D.
Wagoner, Air Forces Iceland Comman-
der and by Col. Waldron's wife Con-
nie.
Col. Waldron is married to the
former Connie Parshall of Coldwater,
Mich. They have three children:
Carrie, Thomas and Amy.
June is the third warmest month
of the year with the daily maximum
temperature averaging nearly 53"^
and the minimum 44°F. There is an
increase in temperature, as there
are longer daylight hours and more
southerly winds. Cloudiness and fog
also increase.
With the warmer temperatures,
precipitation will be rain and driz-
zle. Fog may be expected on 10 days
of the month and measurable amounts
of precipitation will, on the aver-
age, occur on 17 days this month.
The average precipitation for the
month is three inches. The record
high and low temperatures for June
are 64°F and 33°F respectively.
June is the month of long days and
short nights. Twilight will persist
between sunset and sunrise, since
the sun never moves very far below
the horizon.
The summer solstice will occur
June 21 when there will be 21 hours
and one minute of daylight between
sunrise and sunset.
airman of month
Staff Sgt. David J. Luke was re-
cently selected as Detachment 14's
Airman of the Month for Mav. Staff
Sgt. Luke's excellent performance,
knowledge of helicopter rescue pro-
cedures, and overall professional
attitude contributed to his selec-
tion »nd recent upgrade to heli-
copter instructor flight engineer.
Staff Sgt. Luke accomplishes all
preflight and post flight inspec-
tions. He performs maintenance on
aircraft away from home station;
monitors the engine instruments and
acts as the eyes for the pilots dur-
ing all remote site and hoist oper-
ations.
His superb abilities as a heli-
copter flight engineer was a key
factor in the successful hoist re-
covery of an injured seaman from the
deck of an Icelandic fishing vessel
in very rough sea conditions on Me-
morial Day.