Congratulations to Boyd Lore (right), Benton Foundry’s 2nd shift Employee of the Quarter. Boyd works in our Melt Department and he is currently training as a furnace operator. Boyd has been employed for several years as a pourer and crane operator. He lives in Benton with Penny and their son Boyd Jr. He enjoys hunting and fishing in his spare time.

Congratulations to Bob Little (left), Benton Foundry’s 1st shift Employee of the Quarter. Bob is a forklift operator in our Core Department and has worked at Benton since 1993. Bob lives outside of Hughesville, with his wife Mary. He enjoys woodworking, construction and working on cars in his spare time.

When thinking about where to retire, the typical states that come to mind are Florida and Arizona. Pennsylvania offers many advantages to retirees. At almost 45 thousand square miles, Pennsylvania is one of the largest states in the country. It is also home to the city of Lancaster, which U.S. News and World Report recently ranked as the second best area to retire in the U.S. Several other cities in PA also made the list. Approximately 15.4 percent of Pennsylvania’s population is 65 years old or older, and it is home to more than 870,000 veterans. The VA Medical Center in Lebanon County, PA, located near Cornwall Manor Retirement Community, is consistently ranked as one of the best veterans’ health care facilities in the country. Pennsylvania is also home to 249 retirement communities.

When looking for the right state to begin your retirement, you want to consider taxes, so you can stretch your retirement income as far as it will go. Pennsylvania provides a tax-friendly climate for retirees.

Pennsylvania does not tax its residents’ retirement income. It is one of only two states, and the only state on the East Coast, that considers pension income completely tax exempt.

The Keystone State also has the lowest flat tax rate in the country at just 3.07 percent. It is impossible to escape federal income taxes, but when you retire, you might lower your tax obligation by retiring in a state where the income tax is low. Retirees often count on pooling income from several different
sources:

Social Security: Retirees derive a portion of their income from Social Security depending on the amount of money they paid into the system while they were working. Widows may be entitled to their spouse’s social security check. The state of Pennsylvania does not tax social security income like some states, including
West Virginia, Connecticut and Rhode Island.

Pension: Many retirees today receive pension benefits, either from a public entity or private corporation. The amount is based on their terms of employment, the number of years they paid in and how well the pension fund was managed. Neither
public nor private pension income is taxed in PA, which offers an advantage over nearby states such as New Jersey, New York and Maryland, which tax pensions.

Individual Retirement Account (IRA): If your employer did not offer a pension plan, you might have invested money in an IRA to use in retirement. IRA’s offer different types of tax advantages. Pennsylvania adds one more by not taxing the funds you take out of your IRA as income.

401K: Another retirement investment account, a 401K, usually includes money you saved and matching funds from your employer. No type of employer contribution retirement plan is

eligible for taxation in PA as income. When you are a resident of Pennsylvania,
your retirement income is tax exempt. Pennsylvania is one of the most generous states in the country for retirees’ income. They are also helpful when it
comes to other taxes.

The state sales tax in PA is just 6%, which is one of the lowest in the country, although food and clothing are exempt from state sales tax. Only Philadelphia and Pittsburgh add a local tax on top of the state rate. There is another special exemption to sales tax in PA that can have a great impact on seniors. All prescription and non-prescription drugs are tax exempt. Since the cost of medication tends to increase as you age, the state of PA is doing what is can to keep those costs low.

The retirement age is the same in every state. For those born in 1960, the full retirement age according to the Social Security Administration is 67. This means you can receive 100 percent of your social security benefits without any reductions. Beneficiaries receive 50 percent of their spouse’s retirement benefits
when they reach 67 years of age.

If needed, the earliest someone can begin receiving social security retirement benefits is at 62. However, the rate is reduced, and they will only get 70 percent of their own monthly benefits and 32.5 per cent of their spouse’s retirement benefits. As each month passes, the percentage of their retirement benefits grows
until it reaches the full amount at age 67.

When you reach retirement age, your house may be paid off. Your living expenses would be reduced to property maintenance and taxes. In some states, retirees are quick to downsize to lower their tax burden. In other states with high taxes, property taxes on a single-family home can represent a large part of
the retirement budget.

Deciding where to retire requires careful planning and some research. You want to go where you will be comfortable, where you can enjoy your life and where your retirement funds will buy you the most. To do that, you need to look at the housing market, the tax structure, the climate and the proximity of
healthcare services.

Benton Foundry’s tuition reimbursement program has been a key part of our success for many years. Roughly three years ago, we added sustenance to this program with an endowment program at Pennsylvania College of Technology. The endowment is currently funded with $250,000 with a goal of $500,000 for the purpose of providing scholarships to Benton Foundry employees and their families. Currently there are three people enrolled in this program. Benton Foundry firmly believes in continued education, increasing the depth of our staff
and providing opportunities for those who are able, willing and deserving. This is a win/win program for the company and the scholar.

We recently surveyed our work force to quantify the number of degreed personnel we have on staff. Although not all of these degrees were a result of Benton Foundry’s tuition reimbursement program, the numbers are striking and one more reason
why Benton Foundry is a technical leader in the industry. In addition to the degreed personnel, there are several people on staff with professional designations, such as Professional Engineer (PE), Certified Production and Inventory Manager (CPIM), Certified Public Accountant (CPA), Certified Managerial Accountant (CMA) and several with ASQ designations, such as Certified Quality Technician (CQT), Certified Quality Inspector (CQI), Certified Quality Process Analyst (CQPA), and Certified Quality Engineer (CQE). We also offer an Advanced Automation Certification Program to our maintenance personnel through PSU-Hazelton. Eight of our maintenance personnel have completed this certification and two more are currently enrolled.

These include degrees in Electrical and Electronics
Technology, Mechanical Engineering
Technology, Automated Manufacturing Technology
and Engineering CAD Technology.

These include degrees in Computer Science,
Mechanical Engineering, Industrial Engineering,
Manufacturing Engineering Technology,
Material Science, Metallurgical Engineering,
Accounting, Computer Aided Product Design
and Chemical Engineering.

These include Business Administration and
Materials Engineering.

The Colleges and Universities represented include: Bloomsburg University, Drexel University, Kings College, Lafayette University, Lehigh University, Lock Haven University, Luzerne County Community College, Pennsylvania College of Technology, Penn State University, University of Pittsburgh and Wilkes University.
This list is especially impressive when compared to historical staffing levels. For instance, in 1980, Benton Foundry only had 2 people on staff with college degrees (<2% of the employees). Currently, if we were to include certifications and degrees the percentage of the workforce approaches 20%.

– received from Joseph Lobos, son of Matt Lobos for helping support his Eagle Scout Project at Bear Gap Cemetery.