Evening star., 1939-08-22

his death 80 years hence, he had
averaged 500 month in wages.
His parents (who would. of course,
have reached the required age of
65) would each receive so per cent
of the workers individual benefit
of $3.50, or $l625 a month until
their death.
Should worker with such q wage
record die without leaving a rela-
tive who is entitled to receive
monthly benefits, there might still
be a single cash payment of six
times the individual benefit, or Sl95.
If there is no relative qualified to
receive this single cash payment,
then the person paying the funeral
costs is reimbursed for these costs
up to s195.
Allows Aged to Get Credits.
Now as to point Accounting wages
earned after IS for benefit and tax
purposes:
The vast majority of American
workers are young or middle aged.
For them the old-age and survivors
insurance system opens up the posi-
bility of building up credits over
long term of years. But for those
now approaching old age, the span
Of working years is shorter. There
fore, for those now nearly IS, and
for those already IS or over, the
amendments make special provision.
Under the old law any wages a
worker earned after reaching IS
did not count toward his benefits,
and the eligibility requirements
were such that no one 81 years of
age when the law went into effect
could ever qualify for monthly bene-
fits regardless of how long he con-
tinued to work. Under the amend
ments. not only those approaching
65 years of age, but also those al
ready IS years of age, can earn the
right to monthly retirement.
Moreover, the change relative to
counting wages earned after age
IS is made effective January !, 1899,
so that men and women of IS or over
who have been employed this year
may get credit for the time they
have worked since January l of
this year.
My discussion of counting wages
earned after IS years of age probably
has raised questions in your mind as
to just how much must person earn
and how long must he work before
he or his family is entitled to bene-
fits. This brings me to point 5-the
new eligibility requirements. Well,
broadly speaking. a fully insured
worker is one whose social security
account shows wage credits for a
period which is equal to at least one
half the time elapsing between jan
uary l, 1887, and the date he be-
comes IS years of age. If the worker
did not become 81 years of age until
after January l, 1887, you take into
consideration only the time that has
elapsed since his 2lst birthday.
Calendar Quarter Unit.
Employers report their employees
wages by quarters of the calendar
year so that calendar quarter, with
earnings of $50 or more, is taken as
the unit in determining what pro-
portion of the time the worker has
earned wages in insured employ
ment.
Between January l, 1887, the date
the insurance system was inaugu-
rated, and January /, 1910, when
benefits will become payable under
the new plan, there are three years,
or II quarters. For a worker who
reaches age IS prior to January l,
1910, his wage record must show that
he has been employed for a period
equal to one-half of this time, or six
quarters. He must show these six
quarters of earnings before he can
be eligible for a monthly retirement
benefit. However, he does not neces-
sarily have had to have worked these
six quarters before he reached age 65
or before January l, 1910. For
worker who becomes age IS in Jan
uary, 1941, his wage record must
show eight quarters of earnings; for
a worker who becomes IS years of
age IN January, 1912, his wage rec
ord must show 10 quarters of earn
ing ), and so on. But once a worker
has record Of 40 quarters-the
equivalent of 10 years-he is fully
insured no matter whether he works
again or not.
You will notice that have used
the term fully insured" BY fully
insured worker is meant one who is
entitled to all of the benefits pay
able under the system, the actual
benefits he receives depending, of
course, on the particular circum-
stances. These benefits are: In
dividual monthly benefits for life
when he retires at IS or over; sup
Elementary benefits for wife IS or
over; supplementary benefits for
children under 18. If he dies either