The Daily Alaska empire., 1937-01-05

shown with Mrs. Jordan l.. Mott, e
 New York society in 8 ewanky midt half of one per cent per month, which is $500
 Note: If you have earned the total sum of $2,00000, you will draw F of one per cent of that amount, which is 5000.
 If you have not earned a total of $2.OO0O0 you are not qualified; :" in that case you will not receive any monthly benefit but will be paid lump sum when you reach 65 years, which will be 34 per cent of the total amount you did earn. A person past 65 is not affected by the law at all.
 On all you earned over $3,0OO0O and up to $45, ,00000 you will draw l1l12 of one per cent, and on all you earned in excess of $45, 5,000.00 you will draw 1/24 of one per cent, but nobody can draw larger monthly benefit than $8500 and in order to be entitled to this, If you will get out your pencil and figure it, worker must have worked forty-three years before he becomes 65 and he must have earned $3,- 0000O during each of the forty three years.
 A few illustrations of the manner in which the benefits are calculated are of interest.
 Suppose an employee is 61 years old on January l, 1887; he works for five years until he is 65, by January l, 1942, at an annual wage of $1 10000 he will have earn ed by the latter date a total of SC, ,00000. He will be entitled to re- ceive until his death,a monthly benefit on and after January 1922 of
 # of 1q5 of the first s.
 
 112 of 1@5 of the remain
 ing $3,00000 or ............... 2.50 Making a total monthly
 benefit of $17.50
 Suppose an employee is 20 years old on January l, 1887, and works 45 years during the course of which he earns a total of $130,00000; he will be entitled from the time he is 65 years until his de ath a monthly benefit of.
 1a of 1qd of the first $3,- 00000 or .....-.....-..........$15.0 % 1/12 of 19o of the next
 $42,000.00 or ...................... $500
 1I24 of 1g6 of the re-
 maining s85 ,O00.0O or ..-. 35.41 Making total monthly
 benefit of $85.41; but since the Act provides that the monthly beenfit can in nc case exceed $8500 such worker will receive only the maximum benefit, which is $3500.
 It will be noticed that the ar arrangement is so devised as greatly to favor employees now of advanced age. The main reason for doing this is to give older people, in the relatively short time that remains to them between now and when they will be 65, chance to ac- cumulate at least little income Almost anybody under sixty, who is now employed can in the next five years earn $3,00000, which will entitle him to $500 month from the time he reaches 65 until his death.
 Payments to Individuals Not
 Qualified for Benefits
 But suppose you are over sixty now. If you are already over 65 the law does not affect you at all You cannot possibly come under it If you are between 60 and 65 you will not get a monthly retirement allowance upon reaching 65, but you will be paid, at that time, 3h per cent of your total wages earned between now and then. For ex- ample: You are 62 years old. You earn $1,800.00 year. On your 65th birthday you will have earned $5,- 10000. On that day you will re- ceive 3Iz% of $5,400O0 which i. $18900. You will have paid the Government in that time $54.00 anc your employer will haze paid a like amount for your account, making a total of $10400 paid in.
 If for any reason you canno qualify for the monthly benefit: (because you have not earned al least s2,O0000 between now ant your 65th birthday or have no worked at least one day in eacl of five years between January 1897, and your 65th birthday bu have paid taxes on your wage