The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-06-15
SECURITY BILL IS
NOW BEFORE SENATE
Continued from page one)


match dollar for dollar up to SIS
month the amount now being
paid by states to its citizens who
reach the age of 65 pennlless:
Thirty-three states, Alaska and
Hawaii now have state pension
laws. The average pension Is
SIS a month. ...
There are now more than T.
100000 persons in America over
IS wears of age and about J.
100000 are on relief rolls. Ac-
tuaries estimate that the number
of these aged will be about
doubled by 1870. .
The emergency plan is coupled
with a program for contrlbutory
old age annuities. This call for
a federal tax on payrolls and
wages beginning at l per cent in
1887 and rising to 8 per cent for
1913 and thereafter. All en-
pioyes except casual and agricul-
tural labor, private domestic SER
wants, employees of the federal
and state governments and OF
non-profit religious, charitable,
scientific, literary or educational
workers are subject to the tax.
ARE ELIGIBLE FOR
ANNUITIES AT IS
The employees who pay the tax
are eligible for annuities on
reaching 65, if they have paid
tax on total wages of $4,000 or
more earned after 1896 and be-
fore reaching 65. The annuity
is to be SIS per month for the
first $4,000 in salary for which
tax has been paid plus 83 cents
ner month for each additional
thousand up to $4,000 plus
about AZ cents per month for
each thousand over $4,000. No
pension may exceed $85 a month.
An employee who reached CD
and continues to hold a job IS
not considered eligible for an an
uuity. But, if he persists in
working, he is entitled to a lump
sum of three and one-half per
cent of wages on which taxes
have been paid. The same amount
is to be paid to the estate OF
owrker who dies before he can
claim his pension.
unemployment insurance: 1t IS
proposed to to levy an excise tax
on employees or four or more per-
sons effective for 1886 and pay
able first in January, 1887. The
lew begins at one per cent for
the first year, two per cent for
the second and three per cent
for the third year and thereafter.
no PCT. TO GO TO
OPERATION COSTS oo
Employers may credit up to ~
per cent of this tax any amount
he navs the state for state IN
employment COMPENSATION. The
10 ner cent which the govern
ment takes will be directed to-
ward the federal share OF admin
;sirative expenses. Before the
EMPLOYER can claim the tax cred
II the three-man social security
hoard which the bill sets up must
see that state systems meet GER
tain federal requirements.
Child welfare, material care,
ruhlic health: A federal survey
shows that there are more tnan
loo, 900 children in homes where
there is no adequate income anu
where the mother cannot care
for them and also go out ana
work. Fortv-five states ALREADY,
have enacted "mother's pensions
DESIGNED to keep such broken
families together. The security
bill proposes to anpropr'ate sz4 .
10000 for 1886 and sueh
amounts as NAV be needed there
nf+er for prante of aid to states
for payment of pensions to de-
pendent children: 90
Finollv. the hill sets aside 80, !
sOO 600 annually to be al,otten
among the states for maternn ~
and infant care. The money IS
70 be disbursed on a 5O-5n pass
with the states matching 1euera'