Fraternity-Testvériség, 1963 (40. évfolyam, 1-12. szám)
1963-03-01 / 3. szám
FRATERNITY 11 PROBLEMS ABOUT SOCIAL SECURITY Question: I’m 65 and I work the year round. My salary is $125 a month ($1,500 a year). My neighbor says 1 can’t collect any social security until I stop work, or at least cut my wages to $1,200 a year. Is he right? Answer: Your wages of $1,500 a year will cost you only $150 in social security payments. Let’s suppose after you file a social security application, your benefit is $75 a month, about the average old-age insurance benefit. That’s $900 a year. With your earnings of $1,500 a year, you would lose $150 of this. You could, however, still get $750 in social security payments for the year. There is a limit of a year on how far back benefits can be paid, so you will want to file your claim now. Question: I’m past 65 but still working. I understand that since I make over $1,200 I can’t get social security payments. Is this true? Answer: No, it isn’t. If you make over $1,200 you can’t get all your social security payments for the year, but may be able to get some of them. It depends on how much you make over $1,200, how many months during the year you work, and the benefits payable to you and your family. Question: I’m 63. I make $4,800 a year as a teacher. Since I’m paid on a 12-month basis, I get a salary check even during the three summer months, when I’m not teaching. My husband says I can collect social security for these months. Is that true? Answer: Yes. You can get social security retirement payments for any month you don’t earn over $100. The salary you receive in the summer vacation months was actually earned during the school term. Question: Although I’m past 65, I’m still active in my hardware store. I made a very small profit last year ($1,100). This year won’t be any better. Would I be eligible for any social security retirement checks? Answer: Yes, all 12 for the year, as a matter of fact. Any year in which you don’t clear over $1,200 from your business you are considered to be “retired”. This is true even though you may be putting in 10 hours a day, 6 days a week at the store. Question: I began to receive widow’s benefits about three years ago at the age of 62. Do I have to do anything to qualify for the increase for widows provided by the latest social security law changes? Answer: It is not necessary to visit or telephone your social security office. This increase is automatic, effective August 1961. Question- I operate a small shoe repair shop and have been paying what seems to he a sizeable amount into social security ever since 1951. How do I know that I am actually getting credit for the taxes I have paid? Answer: Your local social security district office has a post card (Form OAR-7004) which you mail into the social security accounting office in Baltimore, Maryland, and receive a statement of your personal social security account. The statement will not show what you have paid in self-employment taxes, but will show the amount of self-employment income (your business profit). Your benefit rate will be based on your creditable profits — not on vour taxes.
