Fraternity-Testvériség, 1959 (37. évfolyam, 1-12. szám)

1959-04-01 / 4. szám

FRATERNITY

OFFICIAL ORGAN OF HUNGARIAN REF. FEDERATION OF AMERICA

Editor-in-Chief: George E. K. Borshy. — Managing Editor:

Joseph Kecskemethy. — Associate Editors: Emery Király and László L. Eszenyi. — Chief Contributor: Alexander Daroczy.

Published monthly. — Subscription for non-members in the U. S. A. and Canada $2.00, elsewhere $3.00 a year.

Office of Publication: Expert Printing Co., 4627 Irvine St., Pittsburgh 7, Pa. Editorial Office: Kossuth House, 1801 “P” St., N. W., Washington 6, D. C.

Volume XXXVII APRIL 1959 Number 4

SOCIAL SECURITY ELIGIBILITY REQUIREMENTS

By JOHN A. KRAFT, Jr.

(Reprinted from the Fraternal Monitor)

A DISCUSSION OF THE SPECIFIC QUALIFICATIONS NECESSARY FOR ELIGIBILITY FOR SOCIAL SECURITY BENEFITS

About 16,000,000 people aged 65 and over are now receiving Social Security benefits or expect to do so soon. Because this program involves nearly all of us, it behooves us to be familiar with the eligibility requirements.

You become eligible for retirement benefits at age 65 (62 for women) when your work record reveals you are fully insured. You are entitled to Social Security benefits only when these two requirements are met AND you file an application.

As long as you have earnings covered by law, you must pay Social Security regardless of age and even though you receive benefit checks. If your wages are above $4,800, you can claim the excess tax as credit on income tax return for the year.

WORKING AFTER RETIREMENT

A retired worker, dependent or survivor entitled to Social Security, can receive benefit checks for all month in any year in which he does not earn more than $1,200.

If earnings are greater than $1,200 before age 72, the number of checks received will depend on how much work was done in each month. In general, you lose the right to one month’s benefit for each $100 (or fraction thereof) over $1,200. BUT, no matter how much you make a year, you can receive payments for any month in which your earnings do not exceed $100.

The number of back payments possible for retirement or survivors insurance benefits is limited to twelve months.