North Carolina Newspapers

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VOL. VI, NO. 9
APACE WITH THE PACEMAKER
OCTOBER, 1963
Potter's Opinion Out in East N.C Case
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The initial decision of Civil
Aeronautics Board Examiner
Russell Potter in the Eastern
North Carolina Area Airline
Service Airport Investigation
was issued October 1 with the
recommendation that present
Piedmont service to Kinston and
Goldsboro remain unchanged,
and that a new airport be con
structed at a Town Creek site to
serve Rocky Mount and Wilson.
The main point at issue in the
investigation is whether or not
the public would be better serv
ed if Piedmont’s certificate was
amended so as to provide service
to eastern North Carolina at one
or more centrally-located air
ports, rather than service ope
rating into separate airports at
Rocky Mount, Goldsboro, and
Kinston, as is now the case.
The opinion said that those
proposing an area airport have
sought to limit the region con
sidered to the' five principal ci
ties of eastern North Carolina —
Rocky Mount, Wilson, Golds
boro, Kinston, and Greenville
Opponents of the area airport
proposal contend that the east
ern part of the state is not one
but several communities, all too
remote from each other to be
afforded local air service
through one or even two air
ports.
Three Proposals
Three proposals were advanc
ed for t h e construction of an
area airport;
(1) a new airport should be
built near Toddy, N. C., lo
cated in the center of the
50 mile circle of the above
five cities;
(2) a new airport should be
built at Town Creek, N. C.,
at a point roughly equi
distant between the cities
of Rocky Mount and Wil
son, and intended to serve
only those two cities;
(3) two airports should be
designated to serve all of
eastern North Carolina;
the new airport to be built
at Town Creek, the other
airport to be Stalling Field
which is north of Kinston.
A fourth proposal would leave
the present pattern of service to
Rocky Mount, Goldsboro, and
Kinston unchanged, with no new
airport construction.
In Comparison
In comparing the proposed
Toddy airport with the three air
ports presently in operation. Ex
aminer Potter wrote:
it is found that Toddy
would be superior to the Rocky
Mount airport, but inferior to
Stalling Field which is the air
port for Kinston and inferior to
the Seymour Johnson Air Force
Base which is the airport for
Goldsboro.
“.... Air service at Toddy will
be far less accessible for the
great majority of passengers in
eastern North Carolina than the
air service which is now availa
ble at the three local airports.”
Mile Increase
He further noted that Rocky
Mount, Kinston, and Goldsboro
passengers would all suffer from
increases of 24 to 35 miles in
driving distance to their local
airport if that airport were to be
Toddy.
‘Passengers originating from
the areas of these three cities,”
he wrote, “are estimated by
Piedmont to constitute 88 per
(Continued on Page Six)
You Asked-Here're The Answers
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1. How is the Piedmont Em
ployee Retirement Plan affected
by the new '‘vesting” amend
ment adopted by the Directors
in July?
The Directors amended the Re
tirement Plan so as to permit
employees to retain their Pied
mont retirement benefit credits
even though they leave the com
pany prior to retirement provid
ed the employee is 40 years old,
or older, and has five or more
years of Piedmont service on the
date he leaves the company.
Benefits retained in this man
ner are payable monthly upon
actual retirement of the employ
ee, either for age or disability.
Let’s put it another way.
Every employee, after he or she
is 25 years old, or older, with
two years service with Piedmont
has a retirement account opened
for him by the company. Each
year the company deposits addi
tional money in his account. Be
fore the plan was amended, an
employee had to stay with the
company until actual retirement
in order to receive monthly re
tirement payments from his re
tirement account.
Now, if he resigns after he^ is
40 years old and has been with
Piedmont five years or more, his
retirement account remains on
deposit for him. When he actual
ly retires, regardless of where he
is working, he will receive
monthly income from Social Se
curity, the Piedmont Retirement
Fund, plus the income from any
retirement plan his subsequent
job provides.
2. What does “vest” or “vest
ing” mean?
Webster defines “to vest” as
“ to put a person in poses-
sion of or control of...” It^ is
closely related to the word ‘ in
vest.” For your own purposes, it
simply means that you still bene
fit from (have a “vested” right
in) retirement money Piedmont
has contributed in your behalf
even though you should leave
Piedmont before retirement.
3. In case of disability, at what
age would you start receiving
you retirement checks?
Immediately — providing you
are at least 25 years old and have
been with Piedmont at least two
years. The monthly amount of
your check would of course be
based on the amount that had
been paid in by the company be
fore disability. As used in the
Plan, “disability’ cannot be caus
ed by self-inflicted injury or ha
bitual use of narcotics or alcohol.
4. Using several different sal-^
ary levels, please explain in lay
man’s language how to calculate
retirement incomes.
When you retire at age 65, and
if you have been with Piedmont
20 to 25 years, your monthly m-
come for the rest of your life
from the Piedmont Retirement
Plan plus your Social Security
will be approximately one-half
of your monthly salary average
during employment with Pied
mont. Most pension plans
throughout the country are de
signed to provide this amount of
income at retirement. (See pages
six and seven of your retirement
booklet.)
For example: A man starts to’
work for Piedmont for $350 per
month. He is 38 years old. He
The Face Of Hope
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..SEE PAGE THREE
stays with Piedmont until he is
65, and during this period his
pay is increased to $700 per
month. Let’s assume his salary,
from initial employment until
retirement, averaged $575 per
month. His retirement income
from the company Pension Plan,
plus his Social Security, will be
approximately $287.50 per month
for the rest of his life.
Please keep in mind that this
is an approximation only. A
number of things have a bearing
on the amount a person receives
when he retires. The more years
of service a person has with
Piedmont when he retires, the
greater will be his retirement
benefit. The less length of serv
ice a person has with Piedmont,
the less will be his retirement
benefit
5. It has sometimes happened
that an employee will take a cut
in salary in order to transfer to
another department or city, or
for other reasons. In such an
event, is retirement income fig
ured on the basis of his last
years with the company, or on
the years during which his sal
ary was higher?
Changes, up or down, will af
feet a person’s salary average.
To the extent a salary cut would
change an employee’s salary
average, the monthly pension
payment would also be changed
6. Is there any way an em
ployee can contribute to the re-
Deepest sympathy is extended
the family and friends of Tri-
Cities Station Manager Donald
D. Woods, 39, who died unex
pectedly October 5 of a heart
attack.
A native of Indiana, Mr.
Woods joined Piedmont in 1948
as an Agent at the Cincinnati
station. He subsequently left
Piedmont for a short while to
work with another company, but
returned in 1951 as an Opera
tions Agent in Louisville.
In 1953 he was promoted to
Chief Agent in charge of reser
vations and transferred to Tri-
Cities. In 1955 he was again pro
moted and transferred, this time
to Station Manager at Columbus.
Later that same year he returned
to Tri-Cities as Manager, and re
mained there until his death.
He is survived by his wife,
Emogene, and their three chil
dren.
tirement fund?
No. There are two types of
contributory pension plans. One
is compulsory — the other vol
untary.
The compulsory plan requires
the employee to pay a portion of
the total cost. This type is nor
mally used only where the com
pany contributions alone are not
enough to assure the employee
retirement income of approxi
mately 50% of his average sal
ary. In such cases, the employ
ee’s contributions are needed to
(Continued on Page Six)
    

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