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• On May 5, 1776, British Lt. Gen. Henry Clinton issues a proclamation denouncing North Carolina patriots’ “wicked rebellion” and recommends that the inhabitants return their allegiance to the king. Although he offered full pardons to all persons, it was not a success and he abandoned the area.
• On May 11, 1864, at the Battle of Yellow Tavern near Richmond, Virginia, a Union trooper fatally wounds Confederate Gen. J.E.B. Stuart, who dies the next day. Stuart’s leadership helped the Confederates maintain a superior cavalry force in Virginia for most of the war.
• On May 14, 1913, in Sportsman Park, Illinois, Washington Senators pitcher Walter Johnson throws his 54th consecutive scoreless inning. Johnson’s record stood for 55 years until Don Drysdale of the Los Angeles Dodgers pitched 58 and 2/3 innings without allowing a run.
• On May 1, 1926, Ford Motor Company becomes one of the first companies in America to adopt a five-day, 40-hour week for its automotive factory workers. Other manufacturers soon followed Ford’s lead, and the Monday-to-Friday workweek became standard.
• On May 12, 1932, more than two months after he was kidnapped, the body of aviation hero Charles Lindbergh’s baby is found less than a mile from his family’s home in Hopewell, New Jersey. Although Lindbergh received two ransom notes, his son had been killed the night of the kidnapping.
• On May 7, 1945, Gen. Alfred Jodl of the German High Command signs the unconditional surrender of German forces. Jodl had hoped to limit the terms of German surrender, but Allied commander Gen. Dwight Eisenhower demanded complete surrender.
• On May 8, 1945, both Great Britain and the United States celebrate Victory in Europe Day. Both nations, as well as formerly occupied countries in Western Europe, rejoiced in the defeat of the Nazi war machine, when German troops throughout Europe laid down
• On May 3, 1952, a ski-modified U.S. Air Force C-47 becomes the first aircraft to land on the North Pole. Lt. Col. Joseph Fletcher walked to the exact geographic North Pole, probably the first person ever to do so.
• On May 9, 1960, the Food and Drug Administration approves Enovid-10, the world’s first commercially produced birth-control pill. Development of “the pill” was first commissioned by birth-control pioneer Margaret Sanger and funded by heiress Katherine McCormick.
• On May 2, 1964, an explosion of a charge assumed to have been placed by Viet Cong terrorists sinks the USNS Card at its dock in Saigon. No one was injured and the ship was eventually raised and repaired.
• On May 4, 1970, National Guardsmen open fire on a group of unarmed antiwar demonstrators at Kent State University in Ohio, killing four students and wounding nine. The nearest casualty was 20 yards away. A federal court later dropped all charges against eight Ohio National Guardsmen.
• On May 13, 1972, a fire at the Playtown Cabaret in Osaka, Japan, kills 118 people. An electrician three floors below in a department store inadvertently set off a fire that reached some oil-soaked rags in a nearby storage room and climbed the elevator shafts.
• On May 10, 1980, the U.S. Treasury announces the approval of $1.5 billion in federal loan guarantees for the nearly bankrupt Chrysler Corporation. At the time, it was the largest rescue package ever granted by the U.S. government to an American corporation.
• On May 6, 1994, a rail tunnel under the English Channel officially opens, connecting Britain and the European mainland for the first time since the Ice Age. The “Chunnel” runs below the seabed for 23 miles. Each day, about 30,000 people, 6,000 cars and 3,500 trucks journey through the Chunnel.
© 2017 King Features Synd., Inc.
What You Can Teach Your Grandchild About Social Security
One of the greatest gifts you can give a grandchild is the gift of financial literacy. Helping them save money early in life and showing them how to make wise spending decisions goes a long way toward a bright financial future. As they get older, they may want to save for special purchases or their college education. You can encourage them when they get their first job to begin saving for the future, including their retirement.
Planning for the Future with my Social Security
When you celebrate their graduation from high school, you can also remind them to set up a my Social Security account. They need to be age 18 or older, have a U. S. mailing address and a valid email address, and have a Social Security number. And while their retirement is many years away, you can explain the importance of reviewing their earnings record each year since Social Security uses the record of earnings to compute their future benefits. As they start their first major job and begin saving, they’ll be able to monitor the growth of the estimates of benefits available to them. You can access my Social Security at www.socialsecurity.gov/myaccount.
Saving For Retirement with myRA
The U. S. Treasury recently introduced a retirement savings account for a simple, safe, and affordable way to save for retirement. It’s perfect for people whose employer doesn’t offer a savings plan. There are no costs or fees to open and maintain a myRA account. The account won’t lose money and is backed by the U. S. Treasury. The individual chooses the amount to save. The account is portable and moves with them from job to job. The account owner can withdraw the money they put in without tax or penalty. You can learn more about myRA at www.myra.gov.
Share How Social Security Works
You can share your knowledge about Social Security with your young savers by explaining how the program works and how it has worked for you. About 96 percent of all Americans are covered by Social Security. Social Security is financed through workers’ contributions, which are matched by their employers. We use the contributions to pay current benefits. Any unused money goes into a trust fund. Nearly all working people pay Social Security taxes and about 61 million people receive monthly Social Security benefits. About 42 million of those beneficiaries are retirees and their families. Encourage them to watch our Social Security 101 video at www.socialsecurity.gov/multimedia/webinars/social_security_101.html.
Share Your Retirement Stories
Social Security replaces about 40 percent of an average worker’s income, but financial planners suggest that most retirees need about 70 percent to live comfortably in retirement. Americans need more than Social Security to achieve that comfortable retirement. They need private pensions, savings, and investments. That means starting to save early and monitoring your Social Security record for accuracy. You can share lessons from your own life about saving and planning for retirement. Remember, the best place anyone of any age can visit for quick, easy information about Social Security is www.socialsecurity.gov.
Your personal stories about how you prepared for retirement and what role Social Security plays can help them see what is needed for a secure financial future. Give them the gift of financial literacy today.