Věstník (Temple, Tex.), Vol. 77, No. 34, Ed. 1 Wednesday, September 6, 1989 Page: 3 of 16
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Wednesday, September 6, 1989—VĚSTNÍK/3
Finál Opportunity
To Make Your Donaíions To
Battleship Texas and The Czech Chair
Deadline - October 1, 1989
MAIL YOUR INDIVIDUAL OR LODGE CONTRIBUTIONS TO:
SPJST Supreme Lodge
P.O. Box 100
Temple, Texas 76503
ATTENTION: OFFICE OF THE PRESIDENT
Enclosed: ■$_
$.
$.
Lodge No. _
Contribution CZECH CHAIR
Contribution BATTLESHIP TEXAS
Total Enclosed
_ oř Personál _
Name
Dáte
Address
State
ATTENTION SPJST MEMBERS!!
Now, through Deeember 31, is the time to apply
for the 1990 SPJST Scholarships
Scholarships will be awarded for four year
College and TSTI Technical Schools
For more information, write:
SUPREME LODGE SPJST
Attn: Scholarship Department
P.O. Box 100
Temple, Texas 76503
or call:
1-800-727-7578
If you would like to receive a SPJST Scholarship Application - please
fill out this form and retům to the address above:
Name _
Address:
City
State
Certificate No.
From The
Presidenťs Office
Lodge No. 1,
Fayetteville To
Reorganize
A meeting of all officers and
members of Lodge No. 1 will be heíd
on Friday, September 15, 1989 at
Keiler’s Restaurant and Lodge in
Fayetteville. Refreshments will be
served. All members are asked to be
present at this meeting.
I’m looking forward to seeing you
there.
Fraternally,
Howard Leshikar
President
—SPJST—
INTEREST RATE FOR
ANNUITIES
8.5% annualized
Through 10-31-89
SPJST
MORTGAGE
INTEREST RATES
Home or Farm Mortgages:
9 1/4% for 1 to 7 years
9 1/2% for 8 to 10 years
9 3/4% for 11 to 15 years
10 % for 16 to 20 years
Mortgages on Qealified
Owner-Operated
Business Reál Estate
. 10 3/4% for 10 years
11% for 11 ío 15 years
From The Secretary-
TreasurePs Office
SPJST Continues
Popular Lock-In On
Mortgage Rates
There are many reasons for a quali-
fying member to get their mortgage
financed with the SPJST. Perhaps the
best reason is the fact the SPJST locks
in the interest rate promised for a
period of six months. When we pro-
mise to make a loan at 9Vi %, that rate
is locked in for six months and that is
the rate the member will receive even if
it takés six months to cíose the loan
and rates háve increased at time of
closing.
The failure of some other lenders to
follow through on quoted rates spark-
ed a conflict between lenders and bor-
rowers about the practice of reneging
on loan rate guarantees. There is report
of cases where a lender promised a loan
at one rate but the contract for the ap-
proved rate was much higher. This was
never a problém with the SPJST since
we provide a generous six months lock-
in period. There can be no interest rate
increase unless it takés no longer than 6
months to close the loan.
The SPJST philosophy in this čase
can probably be attributed to our con-
cern about treating our members fair-
ly; the belief of management that if an
organization takés care of its members,
the members will také care of the
organization.
Fraternally,
Leonard D. Mikeska,
Secretary-T reasurer
—SPJST—
Changes Affecting
Single Prémium Life
Policy Loans
Just before the conclusion of the
iOOth Congress on October 21, 1988,
the House and Senáte conferees
reached agreement on how Single
Prémium Life policies will be taxed.
The agreement became a part of the
Technical Corrections Bili and became
known as the Technical and
Miscellaneous Revenue Act of 1988
(TAMRA 88).
The 1988 legislation created what
became known as Modified
Endowment Contracts.. ... This
determination is made by applying
certain tests (The Seven Pay Test). The
net result is that Single Prémium Life
policies issued after June 20, 1988 are
Modified Endowment contracts and
speciál rules apply to loans a pre -
death distributions.
Since I am responsible for handling
policy loans (certificate loans) and
surrenders, I think it is important that
those of you who purchased Single
Prémium policies after June 20, 1988
be notified of new rules we are
required to follow.
Before these changes, if you
borrowed against your Single
Prémium Life policy, the loans were
not taxable even if you had a gain in
the policy. Now, on all SPL policies
issued after June 20, 1988, it appears
that a: 10 percent penalty tax is due on
any distribution or loan received by
policyholders under age 59Vi. The 10
percent penalty does not apply to
policyholders over 59VL Additionally
if there is a gain on the policy and it is
taken by way of a policy loan, it
appears that the gain will be
considered taxable income. The same
applies to surrenders.
The SPJST is required to report to
the IRS and the policyholder any
taxable income that is distributed
under a Modified Endowment
contract.
The new rules do not apply to old
SPL policies issued before June 21,
1988.
Fraternally,
Leonard D. Mikeska
Secretary - Treasurer
—SPJST—
QMMňSfa
ťl fiu
r/d1
Attention District II
Volleyballers
The time is here once again for our
annual SPJST District II Volleyball
Tournament.
This year the Supreme Lodge has
made some rule changes. Probably the
most important change to make notě
of is that this year we will be having
two categories or levels of volleyball
that a lodge may enter. There will be
an “A” and “B” Division. The “A”
Division will allow any type of legal
spike, unless directed toward and
hitting any female on opposing team.
Explanation of “B” Team is: No
spiking will be allowed, if a team
spikes a balí in any way, that team
would lose the balí or point.
As far as your local lodge entering a
team or teams here is an example of
what categories you may enter. Each
lodge may enter 2 teams; either 2 “A”
Teams, or 2 “B” Teams, or 1 “A”
team and 1 “B” Team.
After our district playoffs, District
II will get to send 2 teams to State
Playoffs. They will be the winners of
“A” and “B” categories, or the top 2
in one of the categories.
The finál most important rule
change is that no member may play on
more than one team. If there is an
injury to a team member, then a
substitute may be made.
This year the District II Playoffs will
tentatively be held in the Thrall High
Schooi Gymnasium; the dáte to mark
on your calendar for the playoffs will
be “OCTOBER 15th.” Please be sure
and mark this dáte on your calendar.
Give me a call or write to let me know
what categories your lodge will be
entering in as soon as possible. so í can
draw up the tournament brackets.
Here is my address and phone
number that you can contact me:
Ronnie Rieger, Routě 1, Box 87B.
Coupland, Texas 78615; (512) 352 -
2000 after 6:30 p.m.
If you háve any other questions
concerning the tournament feel free to
give me a call any time.
So all lodges in District II get your
local playoffs completed and get your
teams sent in for the playoffs. Good
luck to all of you all.
Fraternally,
Ronnie Rieger (29)
District II FAC
—SPJST—
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Sefcik, R. J. Věstník (Temple, Tex.), Vol. 77, No. 34, Ed. 1 Wednesday, September 6, 1989, newspaper, September 6, 1989; Temple, Texas. (https://texashistory.unt.edu/ark:/67531/metapth632895/m1/3/: accessed July 8, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Slovanska Podporujici Jednota Statu Texas.