Wednesday. February n, 1881

The Herald and The Lantern

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YELLOW KIBBON encircling the tellers' counter at Cape may County Savings & I^oan office in Court House is examined by Lynn Bright (that’s Eleanore Vlllio behind the counter). The institution joined in with the rest of the naiion in marking the return of the American hostages from Iran. Savings & Loans tq Mark

Institution’s Anniversary

COURT HOUSE - Frank W. Strohm, president of the Cape May County Savings and Loan Association, has announced plan* to join with other members of the United States League of Savings Assoc, in celebrating the 150th anniversary of savings and loans. THE CAPE MAY County Savings & liOan Association was founded here in 1923 and over these 44. years it has grown to include offices* in Wildwood, Cape May, Lower Township (Villas) and Marmora. This year, new facilities will be opening in Ocean City, Cape May Court House and Cape May City. ON MAY 8. The U.S. Postal Service will issue a commemorative stamp in honor of this special anniversary. Trie stamp will

be available for local sale on May 9. “This is An exciting year s for our business." commented Mr. Strohm. “The Comly Rich House, site of the first Savings and Loan institution, will be moved to a historical location in Philadelphia where local residents may visit." "LOCALLY", we have plans to mark this anniversary with some displays and activities to note the changes in Cape May County during this 150 year time span," the association president continued For instance, Dan D’lmperio, antiques and collectible appraiser, will again visit the various Savings and Loan offices to discuss and appraise items brought in by individuals who would like to learn their value. Other plans and promotions will be announced later. Mr Strohm said.

Earnings Limit Up

WILDWOOD - People in Caoe May County getting social security checks will be able to earn more in 1981 than in 1980 before any of their social security benefits are withheld, Delton Brooks, social security manager here, said recently. In 1981. a person under 65 for all of the year can earn $4,080 before any checks are held back. This annual exempt amount was $3,720 for 1980. The annual exempt amount from people 65 or k older in 1981 is $5,500, up from $5,000 for 1980 IF A PERSON'S earnings exceed the annual exempt amount. $1 in benefits is withheld for each.$2 of earnings above the exempt amount. Brooks said people should notify social security as soon as they think their annual earnings might exceed the exempt amount. This way they can avoid receiving any incorrect payments that might have to be repaid. There is a special rule that applies to the year in which a person retires. In the year of retirement, people can receive checks for any month their earnings do not exceed the monthly limit even though total annual earnings are well above the annual exempt amount. The 1981 monthly limit is $458 for people 65 or over and $340 for people under 65.

People who want more information about the annual earnings test can obtain a free copy of the leaflet, “How Work Affects Your Social Security Check," at the Wildwood office, 136 E. Spicer Ave. The telephone number is 800-272-1111. Hearing Set On Revenue

Sharing Use AVALON — The borough council will hold a public hearing in the Meeting Room. Municipl Building, at its regular meeting at 8 p m. Thursday. Feb. 12. for the purpose of obtaining written and oral comment from the public on the proposed uses of revenue sharing funds in the upcoming budget for the fiscal year 1981 All interested citizens' groups, senior citizens and senior citizen organizations are encouraged to attend the hearing. THE AMOUNT OF unappropriated revenue sharing funds in the local trust fund is $157. The amount of revenue sharing funds expected to be received during the fiscal year is $41,692.

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