The Lincoln Star from Lincoln, Nebraska • Page 23

Four of 5 Senators Favor Funding Four of the 5 state senators making up the retirement advisory committee think Nebraska should the in i Stale Teachers Retirement System. But none want to start sucli a funding immediately. To do so would require raising of taxes, a development senators inherently accept with great reluctance. Unfunded liability repre- the total of all possible money benefits if all persons covered by the plan to nhire at once C'uri'ently, the unfunded liability of the teachers retirement system is around million. It was because bills calling for increased teacher retirement benefits would have boosted that unfunded $43 million in one special committee took a negative view of the measures.

Only Senator Orme Only Lincoln Sen Fern Orme, principal introducer of large teachers retiremet bill (LB53f)) and co-signer of another (LB256), does not I feel unfunded liability can be absolutely equated with fiscal irresponsibility. LB25() was killed by the Kducatioit Uommittee last iweek. was discussed, but committee action on it I dtderred. Mrs. Orme noted that one of the major objections to an i imfunded liability is I the cost of the benefits must I be paid by future taxpayers I many years after the service iwhich gave rise to the benefits was Still, it is the Lincoln sena- opinion that "since the state has the power of taxa- tion and as long as the state sufficient revenue to meet annual payments to those retired, the size of the unfunded liability does not make a retirement system fi- I he longer we put it off, the larger the unfunded liability will become.

This is something ihat has concerned since my first term in I At that time 1 thought we should been employ- ing an actuarv and getting (lerdes he has I found a great deal of i 1 within the Leg-1 islature toward taking the first appropriation step to, 'fund the liability. Harold Stryker of Rising "We should start taking step.s to create the ing, but I doubt we can start this Stryker opened his records to an actuarial report on LB512, which proixises a general state employes retirement plan Those documents show the system sought under LB512, co.sting the million over the first two-year period, would provide a sound plan. It would immediately create an liability of which could be arportized over a 20-year riod through equal annual installments of $262,000. No additional unfunded liability is possible. Albert Kjar of "At the present time, I think we should funding it.

We should point toward it. providing we can broaden the state tax base. We should hold new retirement plans in abeyance until such time, Kjar thinks new' state retirement plans should be "funded upon activation. COIB'S HaSEMEliT SHOP MONDAY 9:30 A.M. TO 9:00 P.M.

iVIRYT I NC5 Groth Named Chairman Nurse Aitles Oi (Jiesl's (jmmiittee Wendell (both has been named chairman of the Lincoln Community 22-member budget committee, according to Angle. Chest president. The committee currently is visiting Chest agencies whose budgets are to be reviewed next month. Members of the 1964 budget committee are James S. Blackman, Howard Doty, Burton W'.

Foksom, Henry Greenwalt, Mrs. George' W. 0 1 Groth Mrs. Charles Q. nancially At the time LB256 public hearing, John Nebraska State Education Assn.

executive secretary, pointed out most states with retirement plans do not com- fund such programs. Iowa Exception Iowa is something of an exception. A large surplus in general fund reportedly made it possible for llawkeye legislature to entirely fund its teacher retirement plan. Taking a stand on unfunded liability at variance from Mrs. Orme were the 4 other committee members.

Their views; Bnrbach of The time is coming when Curtis D. i a I (ieorge W. Knight, Robert Koudele, Robert Mag Mr s. John Ma- Horace V. a F.

i Frank W. Rail, Mrs. A. E. Sconyers, Mark Seacrest, Howard W.

Spahnle, C'ecil Stanley, Herman A. Weibers and F. Wells, and James N. Ackerm a Lincoln Community Council president, are ex-officio members. Mrs.

Schimmel is chairman of a siibiMimmittee which includes the Belmont, and Community Centers, Salvation Army, Salvation Army Center anil City Mission. Heading the subcommittee on youth agencies is Green- vvalt. Agencies included are Slalu liaiikers Mcvi 6 7 Omaha Chicago and New York City bankers will be among speakers at the Nebraska Bankers convention here May 6 and 7, attracting bankers and their wives. Charles Walker, executive vice president of th American Bankers Assn. of York City, and Tilford C.

Gaines, vice president of the Fir.st National Bank of Chicago are on the program. speakers include Dr. Herrell DeGraff, exeicu- tive vice president of th American Meal Institute in Chicago, Ralph E. of Lincoln, state banking director, and Irv Wermont of Boston, humorist, author and educator. lo Cfioir Hero I Boy Scouts, Camp Fire had its I Girls, Girl Scouts, YMCA and YWCA.

Nissen is chairman of the family and grouping, including the Child Guidance Center, Family Service Association, Catholic Social Bureau, L.ARC School, Goodwill Industries and Veterans Service Center. Haluri ScLssioii Members of the World including one Lincoln woman, will meet in London today to celebrate the century of growth since its 1863 founding. Mrs. Virginia Seibert of Lincoln will attend the meetings, which end Friday. Sing The St Paul, Bible Choir will sing at the Havelock Christian and Missionary Alliance Church 3433 Havelock, at 7:.30 p.m.

Wednes- i day. The founder- director of the choir is Mrs. Lucille M. Brown, a University of Nebraska Brown School of Music graduate. Re Jill (iel Woods Three of the hundreds of nurses aides on duty this afternoon for Lincoln State annual public house will receive the Woods Psychiatric Awards Thursday night.

The public recognition, begun in 1952 by the Woods Family, will start at 7:30 p.m. in the state hospital auditorium. The 3 chosen for this awards each will receive a $100 check and a jilaijiie, to be by Woods. Mrs. David Dow will be master of ceremonies and George Morris, director of state institutions, will While the 3 award recipients are selected by the Woods Committee, hospital patients, personnel and volunteer workers nominate 5 candidates, from whom the committee chooses.

The Nebraska Society of Profe.ssional Engineers and the Nebraska Society will hold their annual joint meeting at the Nebraska Center Saturday. The convention will center around and will include panel discussions on engineers in government, indu.stry and private practice. Speakers will include Dr. George A. Hawkins, dean of engineering at Purdue University, and Rolland S.

Stover of Marshalltown, la. WHAT A BEAUTIFUL WAY TO SLEEP COOL SLEEPWEAR BY MOVIE STAR lOOHC YOUR CHOICE SHIFT GOWNS Dacron hleinl. Ghi HtylcM willi round yoke in pink, blue, aniclliynt or nilc green. PiiHed sleeve I I cm in pink, blue and maize. in BABY DOLL PAJAMAS Pin-hieked and laee-triinmed in Golorn of pink, bine or nile SLEEP COATS linv puH and dainty laee trim.

oi nylon cotton uitb button front. C.luHc-e Ironi colors ol pink, or maize in i Basement Lingerie DELIGHTFUL FASHIONS JUST WHAT MOTHER WANTS FOR HER DAY Little erounless hats misted in veiling that enchant like eye-shadow ready to go to a wedding, dinner or in your vaeation wardrobe. Straweloth or textured straw. Terhic Cli-I's don know that the tune IS now Nebraska is going to liave to face uj) to it Bnrbach insisted a new retirement jilan enacted by the Legislature must be entirely solvent and fully- funded in pay-as-you-go fashion. George (ierdes of Alliance 3'hc Clefs, a club under the direction of Pauline Hartner.

will entertain relatives a friends at 7:30 p.m. at Grace Church, 27tli and R. The program will include ensembles, skits and solos. BAfPpiillT i HAS il ST Fvirytminb Shop Monday 9:30 A.M. to 9:00 P.M.

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