Fraternity-Testvériség, 1962 (40. évfolyam, 1-12. szám)

1962-12-01 / 12. szám

FRATERNITY

17

PROBLEMS ABOUT SOCIAL SECURITY

Question: I’m a widow 64 and have been getting social security checks since my husband died last year. Will my monthly check be more because of the new law?

Answer: Yes. Widows over 62 will get about 10% more, effective August 1961.

Question: I’ve been getting $33 a month. Will I get a raise because of the 1961 amendments?

Answer: Yes. Two groups get higher benefits. You’re in one of the groups, those who get the minimum benefit. The other group includes women over 62 who are getting widow’s checks. Your check will be raised to $40 a month, effective August 1961.

Question: I heard Social Security lowered the qualifying age for men. Is this true?

Answer: Yes. Men can now get retirement checks at age 62. However, if you take you check before 65 it is reduced. How much it will be reduced depends on how many months you’re under 65. For example: if you take your retirement checks starting with the month you’re 62, they would be reduced 20%. If you’d have received $100 a month at 65, you’d get $80 a month at 62.

Question: Suppose I retire at 62 and start my social security checks. I understand I’ll get less than I would if I waited until I was 65. Does my check get increased to the full amount when I do get to be 65? Answer: No. You get the same reduced amount the rest of your life.

Question: I put in for retirement checks last year but didn’t have quite enough work credits to qualify. I think I needed 12 quarters, and I had only 10 quarters social security work to my credit. Does the new law do anything for me?

Answer: Yes. Put in a new claim right away. The amount of work needed to get benefits has been reduced. The table below shows the work credits needed under the new law. You now need only 9 quarters to get retirement checks.

Men born in Or women born in

Now need

1892 or before

1893

1894

1895

1896

1895 or before

1896

1897

1898

1899

1% years (6 quarters)

1 % years (7 quarters)

2 years (8 quarters)

2% years (9 quarters) 2V2 years (10 quarters)

Question: I am past retirement age and still working. If I stop working, will my income from investments affect my right to receive social security benefits?

Answer: No. The only income that will affect the receipt of your social security benefits is earnings income reecived from employment or self-employment.