The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1938-08-01
the system.

Each worker under Lne Olo-a8e
insurance system Is accommodating
credits on the basis OF his wages, to-
ward monthly old-age retirement
income. If the wages the employe
receives by the time he reaches age
IS do not qualify him for monthly
retirement income, or If he dies prior
to receiving the minimum amount
to which his wages entitle him, the
system provides for a single pay
ment, based on the total amount OF
his wages, to the worker or his heirs,
as the case may be.
The wages received by each en-
ploye in occupations covered by the
old-age insurance system are regu-
larry reported to the government by
employers. During 1887, the first
year the system was in operation,
employers report their employees
wages every 6 months, but under a
change in regulations effective the
first OF this year, these reports are
now made every three months. EN-
ployer's wage reports are filed with
the bureau of internal revenue as a
part OF their tax returns. These re-
ports are checked against tax re-
turns by the bureau and then turned
over to the Social Security Board
for the recording of each employees
wages to his account.
A lag OF about six months will al
ways occur between the end of the
period for which wages are reported
and the recording of employees
wages In their accounts, the board
explained. Employers are allowed
one month after the end of the re-
porting period in which to make
their reports. The bureau Of internal
revenue requires approximately
three months for auditing the re-
ports, and about the same time is
required for the boards bureau of
old-age insurance to complete the
recording OF wages. During the past
year, the board has been developing
us system Of wage recording and has
been recruiting and training person.
mel Tor the job. Since operations got
1ully under way about three months
ago, the final crediting of wage items
mas proceeded at an average of over
million day.
In comparison with the more than
39,Ooo,000 applications for social Sc
curity accounts, relatively few in
qulrles have been received to date
by the board from employees wishing
10 know the amount of wages rec
order In their social security ac-
counts.
Questions Answered
since July /, the board stated. II
such information as received It
will continue to send wage state
ments to other workers who speci-
fically ask for them. Information
concerning wages for each wear will
be available after July of the fol-
lowing" year. For instance, a man
inquiring as to the status of his
account now will be furnished a
statement showing the amount of
wages credited TO him for the year
1897, and similarly after July /, 1889.
information will be available con-
corning wages credited through 1888.
Managers of field officers of the
Social Security Board have been
instructed to advise any person
wishing to inquire about his account
to give the same name he used in
applying for his social security ac-
count number, the exact date of his
birth, the account number assigned
to him, and his address. Forms for
this purpose are available in field
Offices Of the board throughout the
country.
Accompanying the statements con-
corning the status of their accounts
the Bureau of Old-Age Insurance is
sending to wage earners circular
reminding them that heir benefits
under the old-age provisions of the
Social Security Act will be comput-
ed on the basis of the wages paid
them rather than on the taxes which
they and their employers have paid.
Records Agree
If this statement of your wage
account is incomplete" the circular
continues, ut may be because you
did not give your account number
to your employer and he could not
give it on his report of your wages,
or it may be because your employer
did not file his report promptly, or
because his report has not yet been
received. Where wages earned in
1887 were not actually paid until
1888, they may not be included In
this statement. The amount credit
ed Is also subject to adjustments II
1t is later found that any part Of
1t represents payments for employ
ment not covered by the act.
IF this statement does not agree
with your records, please send
promptly information showing Cd
the name and address of each en-
ployer you had during the year 1887,
90 the beginning and closing date
of employment under each employer
and 90 the amount of wages re-
ceived from each employer"