The Redwood gazette., 1936-11-19

TIL
January 1, 1912.
QI will be IS in 1910, will I
get q pension?
A-No. You will get 1-2 per
cent of your wages up to $1,000
per year from January l, 1897, to
the date of your sixty-fifth birth
day in 1910, but this will not be
paid before January l, 1912.
Q-What II i should die. be-
tween 1910 and 1912?
A-Your heirs will get the 8
IL per cent of your wages up to
$4,000 year after January /,
1912.
Q-Since 1 am not going to get
pension will I have to contri-
butte to the pension fund?
Ayes. You will start paying
January I, 1887, and continue
paying until you are IS, your con-
tribution being matched by your
employer.
Q-My salary is $4,000 a year.
Am i assessed on the full amount?
A-You contribute on the first
$4,000 of your salary, no more.
QI will not need the pension
when / am IS. Will have to con-
tribute?
Ayes. You will be entitled to
the pension at IS the same as
anyone else.
| Q-In the event I want to con-
tinue working after IS, will / get
my pension?
A-No.
Q-What will happen to it?
A-The treasury will keep it
Each year the amount you would
! have received as a pension had
you quit at IS will be deducted
from the death benefit your heirs
are entitled to receive.
Q-Can 1 work for a year or
two after IS and then retire and
draw my pension?
Ayes.
Q-Wiil the amount of my pen
sion be reduced?
A-No, but the cash value of
your death benefit to your heirs
will have been reduced as pre-
viously explained.
Q-f / retire at 65 and die a
year or two after will my heirs
continue to draw my pension?
A-No.
Q-What happens?
A-After January /, 1887, your
participation in the old age pen
sion fund is of value to you, as a
pension, and to your heirs, as a
death benefit. The pension is bas-
ed on yours and your employers
contributions to the fund between
January l and the time you are
65; the death benefit is 3 1-2 per
cent of the wages you earn be-
tween January and the time you
are IS, up to $4,000 year.
As previously explained, if you
reach IS before January 1. 1912,
you get 8 1-2 per cent of your
wages instead of a pension. If you
die after drawing your pension,
for time and the total amount
paid you as pension is less than
the value of your death benefit
! your heirs will ge the difference.
If you have been paid as much or
more than the value of the death
your heirs will get the difference.
ing.
Q-Can I deduct the amount
pay in income and other taxes
from my contributions?
A-No.
Q-Am / entitled to take a
lump sum payment based on 8 LIZ
per cent of my wages instead of a
pension?
A-No. The only lump sum
payment is in the event you are
IS before pension payments start
| in 1912, or total wages are less
than $4,000.
Q- am girl and may quit
work soon and get married. Will
be entitled to receive q pension.
Aft you work for five years
] after January 1, 1887, and have
total earnings of at least $4,000
you will be entitled to an old age
pension at IS, otherwise you will
get a lump sum payment based
on 1-2 per cent of your wages al
age IS.
QI am an alien, will / have
to contribute?
Ayes, the same as a citizen.
Q-Will I be eligible for pen
sion?
Ayes, the same as a citizen.
QI am the president of a cor
pOration In which / own the con-
trolling interest. Am I considered
! an employee?
Ayes, officers of corporations
are considered employees.