The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1938-08-11
Workers 1887 WAGES
Credited To Accounts
Social Security Board Finishes World
Greatest Bookkeeping Job

of the Social Security Board, an
nounced today. When the Board
working at the rate of over a million
a day, finished recording the wage
items reported by employers for 1887,
it completed the first phase of the
worlds largest bookkeeping job.
Since the amount Of each employees
old-age insurance benefits will be de-
termined by his total wages received
in employment covered by the system,
separate wage account, identified by
an account number, is maintained for
each one Of the many millions Of work
ers under the system.
Each worker under the old-age in
surance system is accumulating
credits, on the basis Of his wages, to-
ward monthly old-age retirement in
come. If the wages the employe re-
ceives by the time he reaches age 65
do not qualify him for a monthly re-
tlrement income, or if he dies prior
to receiving the minimum amount to
which his wages entitle him, the sys-
TEN provides for single payment,
based on the total amount of his
wages, TO the worker Of his heirs, as
~the case may be.
The wages received by each empIoye
in occupations covered by the old-age
Insurance system are regularly report
ed to the Government by employers.
During 1887, the first year the system
was IN operation, employers reported
their employees wages every six
months, but under change in regula-
tions effective the first Of this year,
these reports are now made every
three months.
Employers wage reports are filed
with the Bureau Of Internal Revenue
as part Of their tax returns. These
reports 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, Mr.. Faulhaber ex-
planned. Employers are allowed one
month after the end of the reporting
period in which to make their reports
The Bureau Of Internal Revenue re-
quires approximately three months fol
auditing the reports, and about the
same time is required for the Boards
Bureau of Old-Age Insurance to com.
, plete the recording Of wages. During
the past year, the Board has been de
, veloping its system Of wage recording
and has been recruiting and training
, personnel for the job. Since opera
tions got fully under way about three
, months ago, the final crediting Of
wage items has proceeded at an aver
age Of over million a day.
In comparison with the more thar
, 39,0O0,C00 applications for social Sc
: curity accounts, relatively few inqui
ries have been received to date by The
Board from employees wishing to know
the amount of wages recorded in theil
social security accounts.
Since July !, Mr.. Faulhaber stated
the Board has been answering requests
: for such information as received. i
will continue to send wage statement!
to other workers who specifically ash
for them. Information concerning
wages for each year viii be available
after July l of the following year
For instance, a man inquiring as tC
the status Of his account now will bt
! furnished a statement showing the
amount Of wages credited to him fol
the year 1887, and similarly after July
. l, 1899, information will be available
concerning wages credited through
1888.
Managers of field offices Of the So
cial Security Board have been instruct
ed to advise any person wishing to in
quire about his account to give th'
, same name he used in applying fo1
his social security account number
the exact date of his birth, the &C
count number assigned to him and hi!
= address.
Accompanying the statements con
corning the status Of their account!
the Bureau Of Old-Age Insurance il
sending the wage earners a circular
reminding them that their benefits un
der the old-age insurance provision!
of the Social Security Act will b.
computed on the basis Of the wage.
paid them rather than on the take:
which they and their employers have
paid.
IF this statement of your wage ac
count is incomplete" the circular con
tinues, at may be because you die
not give your account number to YOU
employer and he could not give it OIL
his report Of your wages, or it may b.
because your employer did not file hi:
report promptly, or because his repor
has not yet been received Where
wages earned in 1897 were not actual
ly paid until 1898, they may not bt
included in this statement. The amOun
credited is also subject to adjustment:
if it is later found that any part o-
it represents payments for employ
ment not covered by the Act.
"If this statement does not agree
with your records, please send, prompt
ly, information showing 1) the name
oJI,,orc- Of ,oob ,-o,, !, r