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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Oct 01, 1981
Page
8
A new tax law, effective next year, lets middle income workers invest up to 2000 dollars annually in an individual retirement account. Contributions are deductible, taxes on principal and earnings defer until withdrawal, with a 10 percent early withdrawal penalty before age 59. Eligibility expands to allow concurrent pension or Keogh plans.
In Bar Harbor Maine residents gathered at the Bar Harbor Savings & Loan Association for the first All-Savers Certificate sale. Bernard Sonny Cough paid 7945.28 dollars as the continental United States first buyer, while Lee Freedman funded a 1000 dollar certificate. The one year bond offers 12.61 percent interest and is promoted as boosting housing and national savings. In Guam Phil Flores registered the first U S sale, issuing a certificate to Selina Flores.
The Associated Press market basket survey found September prices largely flat overall, with coffee and eggs showing the most widespread increases. Nine of 13 cities reported higher totals, while four saw declines. the overall basket rose just 0.1 percent for September, the fourth monthly rise this year.
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