The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1939-11-09

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If his amounts to $50, she will get
SIS, and the two will have $45. A
Widows benefits is three-quarters of
1er husbands monthly payment, a
child's benefit is one-half until he is
l6 years old, or Is if he is regularly
in school. If, for example, a man
with a $50 monthly benefit dies leav-
ing widow and two dependent chill
dren, the family altogether will have
$3.50 a month until the Oldest child
is 18, when the child's benefit stops.
"You will probably want to know
much more about these family bene-
fits, of course. shall not attempt
more examples here, however, because
l think you will find it easier if you
see the figures in print. This
you can do if you ask for one of the
leaflets which you will find in the lob
by near the Social Security Board
exhibit.
"And incidentally, in the annual re-
port of the Executive Council there
is a splendid explanation Of all Of
these changes, including the ones that
| have just mentioned.
All Members of Workers Family Are
Protected
From what / have said, however,
you will realize that the new provi-
sions for old-age insurance give pro-
lection not only to the worker him
self, but to his family when he dies
more benefits, more protection than
we could possibly buy anywhere with
the amount of his social security tax
1t provides an income for him and an
additional benefit for his wife when
they are old. 1t provides for his
widow and children until the children
are out of school and can presumably
help to take care of their mother. And
when that mother reaches 65, if she
has not married again, she receives
three-fourths Of her husbands month
ly benefit as long as she lives.
"These provisions are so funda-
mental that Congress changed the
title of this part of the Social Security
Act to odd Age and Survivors Insur-
ance.'
Employers Required to Give Employees
Receipts for Social Security Taxes
Paid
"Another change which will be wei
come to you is an amendment to the
law requiring employers to furnish
receipts for social security taxes
taken out of the workers pay. Those
receipts will show the amount of the
tax and also the amount Of the wage
They must be furnished at least once
year, and in any case, when the
worker leaves a job. They may be
| furnished oftener.
''If the worker saves these receipts
he can keep track of his social Sc
curity account. He can also check uE
by asking the Board what his wage
credits are We are now replying tc
many thousands of requests of that
kind, which are coming in on post
cards we have issued for the work
ers' convenience. Any union can OBJ
tain a supply Of these cards for its
members. Many unions have already
done so, and others can, by asking
the nearest Social Security Boarc
field office.
Safe Old Age Reserve Account
Established
another change in the old-age in
surance system affects what the ole
law called the Old Age Reserve Ac
count. The new law provides that SO
cial security taxes shall go into a fun'
to be known as the Federal Old-Ag'
and Survivors Trust Fund whlcl
shall be managed by Board of Trus
tees. The trustees are the Secretar.
of the Treasury, the Secretary Of La
Dor, and the Chairman Of the Socia
Security Board. This fund will b.
drawn upon to pay benefits when the!
come due, and is expected to provide
in addition, a reserve for contingen
cies
Million More Persons Covered
"The new law also extends the GOV
erage of the social security system
by more than a million men an;
women in jobs not covered before. |
brings in the crews of American ships
the employees Of national banks am
State banks which are members o
the Federal Reserve System, and EN-
ploycs of building and loan associa
tionS.
Agricultural and Domestic Workers
Excluded
Labor asked for extension also t.
agricultural and domestic workers
and to employees of religious AM
other non-protit organizations. Th
Board is on record as recommending
this. However, Congress apparentl.
believed that this extension shoul'
not be undertaken, at least for tn
present.
S4OO, 100000 Taxes Saved For
Workers
81 have already referred to anothe
important change which will atfec
labor materially. Congress kept tn
old-agc insurance tax rate, for work
ers and for employers, down to tn
present one per cent of wages fo
another three years. Under the oil
law it would have gone up to L i,
1910. That change amounts to