Historical Newspapers of South Carolina

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CLINTON MILLS December 1982 pp To our employees: This Christmas Holiday season affords u countless blessings, renew friendships< set our goals for the coming year. I wculd like to express my appreciate 1982. The economy is going through th II. Textiles, like virtually all business ar serious effects of foreign imports and i While our operating schedule has returi demand high quality fabrics. Your continued efforts to improve qua appreciated, and is necessary in order th in ine marKex. we see some signs mat t trend in many areas will be both slow realize the importance of working togeth and opportunities that lie ahead. I want to wish you and your families a Sincerely, J. R. (Dick) Vice Presidi Nau/ WithhnlHinn 1W ?f W W I I I II I Wl VI I I l\J On September 3, 1982, the Tax Equity and Fiscal Responsibility Act (TEFRA) was signed by President Reagan and became law. The new law imposed new withholding requirements on benefit payments from Profit-Sharing, Retirement and Pension Plans. Beginning on or after January 1, 1983, income tax will be withheld on all benefits paid out under our plans unless the retiree or the applicant elects not to have withholding apply. Fnrmpr pmnlnvpp<i alrparlx/ reroiuino ro. ? ?"r?// .WWVL...5 ?v tirement benefits will be notified of the new law and given the opportunity to elect not to have withholding apply by the Trust Department, M.S. Bailey & Son, Bankers (Clinton). The Trust Department will request retirees to complete an election form and return it in a pre-addressed envelope. This will give the Trust Department time to implement elections beginning with January 1983 payments. For employees about to retire, Hank Cronic, Benefit Plans Administrator, will explain the new law and the options available during the application appointment. Geneva Personnel Director Bob Dettmar will inform Geneva employees about to retire of this information. If election form is not received in the Trust Department by the 25th day of the month preceding start of benefit payments, income tax will be withheld as if the retiree were a married individual with three exemptions. Because of the way the tax table is setup tor such individuals, no tax will be withheld from payments totalling less than $5,400 annually. Cronic pointed out that the new law did Christmas, 1982^^^^^ s an excellent opportunity to reflect on our with our friends, visit with our family, and in for your loyalty and.dedication during ie most serious recession since World War >d manufacturing companies, has felt the educed consumer demand. ried to normal, our customers continue to lity in every manufacturing area is most at the fabric we produce will be acceptable ho prnnnmu ?c tmnrnv/inet Ki ho i.nuj-jrr4 >(IV wr? ?w? r ' J IV 'iMpiUTi ' ?> ? "U1 l> IV UyjffOTU and difficult to achieve. Each of us must ler as a team, responding to the challenges Merry Christmas and a Happy New Year. Swetenburg^ 0 ent of Manufacturing Requirements not change the existing tax rate: it onlv changed the way federal income taxes are withheld or collected. Elections can be revoked or changed any time by completing a new statement. Cronic feels that the new withholding rules can be very helpful in tax planning and avoiding estimated income tax penalties. Withholding on lump sum distributions under the Profit-Sharing Retirement Plan will be calculated based on a new tax table yet to be published by the Internal Revenue Service. If there are any questions, employees in Clinton should contact Hank Cronic. Geneva employees snouia contact Bob Dettmar, Personnel Manager. Health Care Booklet Amendments m m m i? w V W This edition of the Clothmaker contains information regarding Amendments to our health care booklets. See page 10 for information entitled Basic Medical Expense Coverage and Are There Any Limitations? .LOTH Mi fly and Fot ATMA Searchinn For Textile Queen The search has begun for a new Alabama Textile Queen who will be chosen during the 10th annual contest and pageant sponsored by the Alabama Textile Manufacturers Association (ATMA). The contest and pageant will be held in Montgomery on January 1011, 1983. The winner will succeed Miss Amy Hill, Montgomery, Alabama, the reigning queen. Clinton Mills of Geneva is sponsoring Miss Lura Stephanie Beasley, who is a freshman, majoring in Public Relations at Enterprise State Junior College. She is the daughter of Tom and Glenda Beasley of Geneva. Miss Beasley has had three years of speech and communications and recently completed a year of travel and speech engagements for the National Peanut Festival Association. To be eligible for the state finals, contes tarns musi De selected ana sponsored in the state finals by a textile company. Additional information on local contests may be obtained from any participating textile plant Christmas Savin; Clinton's 448 thrifty employees shared in more than $553,066 in Christmas Savings as the annual payout was made in November. according to Payroll Department Mananor 1/ Aifh ? 11 gci, ncim hilucc. 11iliuuc'j in iiie mure man halt million dollar savings was $12,778 added by M.S. Bailey and Son, Bankers, for interest earnings. The average savings check was $1,234.00. In addition, 118 Clinton Mills of Geneva savers accumulated over $112,038 in savings which included $2,654 in interest earnings. The average Geneva savings check was $949.00. To begin collections for a 1983 Christmas Savings Account, you must sign a card Most Popular Ch The six piece stainless steel mixing bowl set was the most selected item in the Christmas gift catalogue, according to Truman Owens, who coordinates the selection program. A total of 131 employees chose this gift as their personal gift from the company. Another popular item among employees was the 21 -quart capacity canner/cooker by Mirror. This year, 58 employees chose this HHHHWVfWmVVPmi Mi I 1 lfJ 111 a mmkmimMikSmLii Page 2 Employees Tel Page 3 Lydia Card Roc Page 6 and 7 Great Faces an Page 9 Productivity?I \KER| r Employees of Clinton Mills jAH m 1 WKs: mm . m 1 Lura Stephanie Beasley or the ATMA office in Montgomery. Contestants must be between the age of 18 and 25 and never have been married, at least 5 feet 4 inches tall, photogenic, and in good health. She must be available and willino to tnupl ac an nffirial ronroconfatiuo nl the Alabama textile industry making appearances for state and national groups and civic club organizations. js Distributed which is available from your Assistant Departmental Superintendent. Anyone may start, stop, or change a savings account at anytime during the year. However, once a withdrawal is made from a Christmas savings account, another one cannot be opened during that particular savings account year. The Christmas savings accounts will earn interest at the rate of 5 V* percent per annum, with Dro rata intprp^t nn An nr mnr? payments. Christmas savers have found the payroll deduction savings plan a convenient method of saving for the Christmas savings Your Assistant Departmental superintendent will be pleased to answer any questions you have about the program. ristmas Gifts as their selection from the gift catalogue. The next five most chosen items were the storage and record cabinet. 49; stainless steel tableware. 49; digita' clock radio, 48; the superior elecfcic heater, 47; and the Rival crock pot, 46. The gifts were presented to employees earlier this month. I Christmas Plans tm Modernizations d Smiles How Does It Affect You?