19
ing annuities for which they had put
away their savings for many years.
Inflation is a danger to every person
in the country, OWI said, but its most
serious effects are felt by these fixed-
income and low income groups.
Four States Adopt
Retirement Systems
Local retirement systems have been
created in four states during the last
year. The legislature of Colorado auth­
orized extension of the state employees’
retirement system to all municipal,
county and school district employees.
A statewide municipal employees’ re­
tirement system, was established by the
Pennsylvania, legislature, effective in
September.
The Texas legislature gave approval
to a proposed constitutional amend­
ment to authorize municipalities to es­
tablish retirement and disability pension
systems for their employees and also per­
m itting the legislature to establish a
statewide pension system for municipal
employees.
In Wisconsin a new statute provides
for an optional statewide retirement sys­
tem for employees of any city or vil­
lage except Milwaukee, covered by pre­
vious legislation.
The Ohio general assembly has cre­
ated a commission of nine members to
study and consider salary problems of
all public officials and employees in the
state. I t is to report its findings and
recommendations.
Inquire About Low Cost Loans
Through the
State Em ployees
Credit Union
where all dealings are strictly confidential. In the past
eight years we have loaned more than $261,000.00 to
state employees in Salem and Marion County.
If you wish to borrow money, we will be glad to furnish full infor­
mation without obligation or embarrassment to you.
See W. J. P. FARRELL, Treasurer
518 State Office Building, Salem,
or call 4171 Extension 303
I