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PAGE 2B
FORSYTH COUNTY NEWS Thursday, January 29, 2004
Here’s a short guide to Social Security for ‘baby boomers’
By Cindy G. McCubbins
For the Forsyth County News
Not too long ago, it
seemed all “baby boomers’
were citizens of Woodstock
Nation, convinced that they
would never grow old: Now
they all know better.
The oldest baby boomers
will turn 58 this year, and they
are more likely to sing along
with elevator music than with
the new rock bands on MTV.
In just a few short years,
around 2008, the first wave of
these baby boomers will
become eligible for Social
Security retirement benefits.
Tyson closing
two plants in
New England
Tyson Foods Inc. recently
announced that in order to fur
ther improve long-term manu
facturing efficiencies, it will be
closing facilities in
Manchester, N.H., and
Augusta, Maine, in early
February.
The plant in Manchester,
which currently employs
approximately 550, is an older
facility. After thorough analy
sis, the company has deter
mined that the amount of capi
tal required to bring this facili
ty to a competitive level and to
maintain appropriate food
safety standards, would be bet
ter spent to accommodate pro
duction in newer more modem
facilities. The majority of the
facility's production, which is
primarily sandwich meat for
foodservice customers, will be
moved to facilities in Council
Bluffs, Iowa; Fort Worth.
Texas; Goodlettsville, Tenn.;
and Chicago, 111.
The majority of the produc
tion of the Augusta plant will
be consolidated into the com
pany’s facilities in Buffalo,
New York, and Concordia,
Missouri. The Augusta facility,
which employs approximately
170, produces hot dogs,
sausages, boneless hams and
deli turkey products.
Company human resources
managers will be working with
the New Hampshire and Maine
state employment security
divisions to assist team mem
bers in identifying opportuni
ties, both within the company
and in other jobs in the area.
“While it is never easy to
make business decisions like
these that affect the lives of our
team members and the com
munities in which we operate,
these steps are necessary for us
to meet our responsibilities to
all of our stakeholders,” said
lohn Lea, group vice president
of consumer products.
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So here is a short guide to
Social Security for those
“baby boomers” who are soon
to be “senior boomers.”
First, you have probably
already heard that your full
retirement age is going up.
Pegged at 65 for the first six
decades of the program, the
age at which a person can
begin collecting full Social
Security benefits is on its way
up to 67. But to give people
time to plan for the future, this
increase, which was part of
the Social Security
Amendments of 1983, did not
begin until this year. And it is
going up in gradual steps.
PRESCRIPTIONS f Om oa
between the doctor and nurses.
“The drugs that I would
use are drugs that the physi
cian that I work with and I
agree upon,” Baraona said.
"Both names [the nurse’s and
doctor’s] would appear on the
prescription bottle.”
“The legislation definitely
puts it in the physician’s
hands,” she said.
As of Friday, the bill was
in the Senate Health and
BANK from 10A
of competition. As of June 30,
2003, a total of 16 banks with
37 branches were operating in
Forsyth County, according to
an FDIC county summaries
report. The largest market
share belonged to Wachovia
Bank and its $304 million in
deposits.
Walker has succeeded in
similar competitive environ
ments. He oversaw Georgia
First Bank of Gainesville as
president and CEO from 1987
to 1997 and helped grow its
assets from sls million to
$l5O million.
Later, the career banker
worked as president, CEO and
a director of First National
LICENSES from 10A
Trail, Cumming; owner: same.
Joy Food LLC/Seattle
Sutton's Healthy Eating, 6080
Parkway North Drive,
Cumming; owner: Christopher
Gyoury, Roswell.
Kai Computer Inc., 765
Branch Drive, Alpharetta;
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People born in 1938 must be
age 65 and 2 months to’collect
full Social Security benefits.
These born in 1939 must be
65 and 4 months. The two
month per year increase con
tinues until it reaches 66 for
people born in 1943. The
retirement age levels off at age
66 for many baby boomers
these born from 1943 through
1954 then rises again in
two-month increments until it
reaches 67 for people bom in
1960 and later.
Second, boomers should
know that although Congress
changed Social Security’s full
retirement age, it did not
Human Services Committee,
where it has been since last
April.
State Sen. Renee
Unterman, R-Loganville, who
is a registered nurse and social
worker, said the bill has not
been discussed this session.
“I haven’t heard of it mov
ing this year,” she said.
“It didn’t move last year,”
the senator said. “Evidently it
has some problems.”
Bank of Johns Creek from
1998 until the bank’s merger
with Main Street Bank in
2002.
He stayed on as an execu
tive with Main Street but
resigned in May of 2003 in
order to organize First
National Bank of Forsyth
County.
He said he is “excited”
about his latest business ven
ture.
“This is what we like to
do,” he said. “You look for
ward to opening to start serv
ing customers. ... Hopefully,
it's fun for us and fun for oth
ers and profitable for all.”
owner; Larry Whitten,
Suwanee.
Mark Barret
Mahoney/Integrity Financial,
6490 Nugget Trail,
Gainesville; owner: same.
Men Step Up, 4445 Ansley
Lane, Cumming; owner: same.
change the early retirement
age. It is still 62. But the edu
cation in your benefit for tak
ing retirement at age 62 is
gradually increasing from 20
percent to 30 percent over the
next 20 years.
Third, there are certain
facts of life that, in particular,
baby boomer women need to
be aware of. Boomer women
will be the first generation of
women who are more likely to
get higher benefits on their
Social Security record than on
a spouse’s record. Boomer
women are also more likely
than earlier generations to
have been divorced. And
CLUB from 10A
Phase I of The Heritage
subdivision in Georgia Tech
Club includes 87 one-acre lots
with homes starting at
$500,000. The Heritage has
grossed slO.l million in sales
so far, according to
Companiotte. The homes are
scheduled for completion by
the first quarter of 2005. Phase
II construction could begin as
early as this spring, dependent
upon market response.
Central to the community
is a 30,000-square-foot club
house with locker rooms, golf
pro shop and a restaurant. The
complex also features the
Lifestyle Center, Tennis and
Swim Center and Golf
Learning Center.
The golf center will be
home to the Georgia Tech
men's golf team. Former U.S.
Open and Wimbledon champi
on Stan Smith designed the
tennis facility.
Club membership is open
to non-residents starting at
$2,000 for a social member
ship. The top membership tier
costs $60,000.
With Georgia Tech Club
members comes their dispos
able income, and this offers an
opportunity for economic
development to neighboring
Forsyth County.
“[Members] will be visi-
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boomer women who are mar
ried are likely to outlive their
husbands. Ail of these situa
tions can affect their Social
Security entitlement and, for
that reason, boomer women
should check out “Social
Security Information for
Women” at www.socialsecuri
ty.gov/women/.
And here is a final tip for
baby boomers of both gen
ders: think online. Most
boomers are now comfortable
using computers to conduct
business, so they expect and
appreciate online government
services. And Social Security
delivers.
tors to our county in a variety
of ways. By doing business
here, eating here, shopping
here and visiting Lake Lanier
or purchasing boats, etcetera,
etcetera, they will spend dol
lars which generate sales tax
for our city and county as well
as the school system,” said
Joni Owens, President and
CEO of the Cumming-Forsyth
County Chamber of
Commerce.
The Club hopes to attract
successful entrepreneurs and
executives as homeowners.
While living in Cherokee or
Fulton counties, these resi
dents will be part of the
Forsyth work force pool. They
also could become a local
business owner.
“...We find that new busi
nesses are created by some of
those homeowners, and
Forsyth County is an ideal
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Boomers can use our
online retirement planners and
calculators to figure out how
future Social Security benefits
will fit into overall financial
plans: socialsecurity.gov/plan
ners.
And as they edge ever
closer to Social Security
retirement age, they can file
for their benefits online
www.socialsecurity.gov/applyt
oretire. All of this and more is
available at www.socialsecuri
ty.gov.
Cindy G. McCubbins is the
Gainesville district manager
for the Social Security
Administration.
location to locate and grow a
new or relocated business,”
Owens said.
The Georgia Tech Club is
expected to generate $1 mil
lion in annual revenue for
Georgia Tech. Five percent of
membership sales and 10 per
cent of the club’s gross operat
ing revenue will be donated to
the university, according to
The Georgia Tech Club.
During the economic
downturn of recent years, uni
versities have struggled due to
decreased alumni donations
among other budget cuts from
the government. University
clubs tap into a lost source of
funding.
“Universities have seen a
reduced income from
donors... People are looking
for new revenue sources and
this one is substantial,”
Companiotte said.