The Daily Alaska empire., 1938-08-02
Employers Wages
 Are Now Credited. To Social Security
Gigantic Task Is Reported Completed Period of
 I937 Cleared Up


 The crediting of each employees wages received during 1887 to his social security account under the old-age insurance system, is now completed, the Social Security Board at Washintong, D. C., an- nounces. 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 em- ployees old-age insurance benefits will be determined by his total wages received in employment cov- cred by the system, separate wage account, identified by an account number, is maintained by each one of the many millions of workers under the system.
 Credits Accumulated
 Each worker under the old-age insurance system is accumulatipg credits, on the basis of his wages, toward a monthly old-age retire ment income. If the wages the enl- ployee receives by the time he reaches age 65 do not qualify him for a monthly retirement income or if he dies prior to receiving the minimum amount to which his wag- es entitle him, the system provides for single payment, 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- ployee in occupations covered by the old age insurance system are regu- larly reported to the Government by employers. During 1937, the first year the system was in operation, employers reported their employees wages every six months, but under a change in regulations effective the first of this year, these reports are now made every three months. Elm ployer's wage reports are filed with the Bureau of Internal Revenue as a part of their tax returns. These reports are checked against tax returns by the Bureau and then turned over to the Social Security Board for the recording of each em- ployee's wages to his account.
 One Month Lag
 A lag of about six months will al ways occur between the end of the period for which wages are report ed 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 Inter- nal 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 develop ing it's 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 credit ing of wage items has proceeded at an average of over million a day.
 In comparison with the more than 39O00,000 applications for social se- curity accounts, relatively few in- auiries have been received to date by the Board from employees wish ing to know the amount of wages recorded in their social security ac- counts.
 Wage Statements
 Since July 1, the Board stated, it has been answering requests for such information as received. It will continue to send wage statements to other workers who specifically ask for them. Information concern ing wages for each year will be available after July of the follow ing year For instance a man inquir- ing as to the status of his account now will be furnished a statement showing the amount of wages cred- ited to him for the year l937, and