Fraternity-Testvériség, 1963 (40. évfolyam, 1-12. szám)
1963-01-01 / 1. szám
10 FRATERNITY PROBLEMS ABOUT SOCIAL SECURITY Question: I am 67 years old. I expect to take a leave of absence from my job for 4 months, during which I will receive no salary. Am I eligible for social security payments for these 4 months? Answer: Yes. You can receive benefits for any month in which you do not earn over $100 in wages, no matter how much you earn during the whole year. If you have not already filed a social security application at some time in the past and know that you are eligible for benefits, you must do so before these benefits can be paid. Question: Does a man of 69 have to quit work entirely to collect social security benefits? Answer: No. You can earn up to $1,200 and receive all your benefits for the year. If you earn over $1,200, some of your benefits will be withheld during the year. Your social security office will be glad to give you a free pamphlet, “21 Questions and Answers About Social Security Payments”. This pamphlet was revised following passage of the 1961 social security amendments and contains up-to-date information on how earnings affect benefits. Question: My wife and I are receiving social security benefits and we both work part-time. Can we earn up to $1,200 between us and still get our benefits for the year? Answer: Each of you can earn up to $1,200 in a calendar year before any benefits are withheld. Question: I have my own business but close it down for 2 months every winter to vacation in Florida. Can I get benefits for those months even though my net profits are over $10,000 a year? Answer: Yes. Regardless of total net earnings, a person can get a social security check for any month in which he does not render substantial services in his own business. Question: 1 am 70 years old and still working. I have a regular job and earn over $6,000 a year. Am I eligible for social security benefits at the present time? Answer: No, unless there are some months in the year in which you do not earn wages of over $100. However, when you reach 72, you can begin getting all of your benefits each year, no matter how much you earn. Question: If I return to work after filing for my old-age insurance benefits, do I have to report this to my social security office? Answer: Yes, if you expect to earn over $1,200 for the calendar year. Question: How much of my social security benefits do I lose if I earn over $1,200 during the year? Answer: This depends on how much your benefits would be and how much over $1,200 you earn. $1 in benefits is withheld for each $2 earned between $1,200 and $1,700. On earnings over $1,700, $1 in benefits is withheld for each $1 earned.
