Milford chronicle., 1952-08-29
Social Security Only
Income OF Many


If economic conditions in Della
ware are at all typical of the coun-
try at large, at least two-thirds Of
the people receiving old-age insur-
ance payments here have little or
no other retirement income. MyrOn
Milbouer, manager of the social
security field Office here, bases this
conclusion on the results, just an
nounced in Washington, of ma
tion-wide survey conducted by the
Bureau of Old Age and Survivors
Insurance at the end of 1851.
The findings came from about
1890 interviews made throughout
the country among Old-age and
aged widow beneficiaries Of social
security who had received pay
ments in every month of 1851. The
staff of the Delaware Office con-
Quoted close to 100 of these inter
views, on a strictly confidential ba-
sis, among local beneficiaries last
November, December and January
and every one of the 500 other OFF,
ces in the country took part, to
give thorough crOss-sectiOn of
people receiving benefits.
Even when old age and surviv-
ors insurance payments are added
to their other Tetirment income,
only 40 percent of the single bene-
ficiaries have as much as $50 a
month or more per person, Mr.. Mil
bOuer said the survey showed. by
retirement income we mean social
security benefits. employer and
union pensions, veterans pensions,
private annuities, income from pri-
Vate trust funds, rents, interest and
dividends" About II percent Of all
beneficiaries received some en-
ployer or union pensions but only
about 6 percent got as muchsas $50
per person from this source.
Because the retirement incomes
of many are inadequate, aged
people receiving social security
benefits often have to find other
means Of support. Among those
who received payments every
month Of the year, about one
fourth of the men and a fifth Of the
women old-age beneficiaries and
one-eighth of the aged widows had
some earnings during the year, the
survey indicates.
For the most part, Mr.. MilbOuer
explained. the earnings are small.
Half of the men that worked earn
ed less than 1890 during the year
1851, and half of the women old
age beneficiaries who had some
earnings made less than $3.50.
The majority of the beneficiaries,
however, are disabled or too old to
work at all At the time Of the in
terview, $50 Of the men, 1919 Of
the women old-age beneficiaries,
and 500 of the aged widows re-
ported that they were unable to
work.
Counting their money income
from all sOurces-including Old-age
and survivors insurance benefits,
other independent permanent in
come, and also their earnings, un-
employment insurance payments,
money contributions from relatives,
and public assistance payments,
almost 2 in every 5 Of the single
beneficiaries or couples had less
than $50 a month per person.
OF course, figures on money in
come do not tell the whole story
Some beneficiaries share house
holds with relatives or friends
others have noncash income such
as garden produce or meals and
room in return for services. About
46 percent of the beneficiaries own
their homes - though some are
mortgaged. Some have other assets
which help to provide security -
real estate or investments in busi.
nesses. About so percent, however
have nothing or less than $500 in
such liquid assets as cash, bank de.
pOsits and stocks and bonds.
Mr.. Milbouer pointed out that the
1880 beneficiaries interviewed in
the study represented wage earn
ers in every variety of financia
circumstances who had retired il
recent years from work in com
merce and industry "The survey
findings make it clear that for (
large majority of these beneficiar
les, the monthly benefit check, eVel