Milford chronicle., 1958-08-01
QUESTIONS MANY FARMERS
ASK ABOUT THEIR SOCIAL
SECURITY
Question


the farm until spring planting time
comes around Why can't / and
other farmers over SIS get retire
ment benefit payments for those
months when we're not working
the farm?
Answer:
You can. A person eligible for
old age benefits under the social Sc
curity law can get a check for any
month In which he neither works
for wages of more than $50 nor
renders substantial services in
self-employment. This is so, no
matter how much work he does or
how large his earnings are in other
months of the year. A self-emplOy-
ed farmer who sits by the fire
waiting for the spring thaw, or
takes a winter trip to a warmer
climate cail get retirement pay
ments for his inactive months.
Question;
I'm over SIS but i can't afford to
stop farming and live on my social
security benefit payments. That's
why l haven't gone to the social
security Office and filed a claim for
old-age payments. What worries
me is what would happen to my
wife if l should die?
Answer:
II that should happen, and your
wife Is 81 or over at the time, she
will be entitled to widows bene-
fits as your survivor. The fact that
you haven't filed claim for re-
tirement benefits would make no
difference.
Question:
I'm a young farmer, just 35.
Don't see any use paying the tax
all this time. l think I'd rather
take my chances and join up with
social security later, when I'm near
SIS. Can / do that?
Answer:
No. Farmers are covered by So
cial security as of January 1, 1855.
You are required to report your
net earnings from farm self-em-
ployment and pay the socia: Sc
curity tax yearly
Question::
I'm a young farmer and it will
social security retirement bene-
fits My neighbor reached IS this
winter. He has retired and is get
ting old age payments after paying
social security taxes for just two
years. This doesn't seem fair to us
younger people who must go on
paying social security taxes for
May years.
Answer:
Every retirement system-pri-
vate or public-has to start some
where. 1t is no fault of your neigh
Dor that he did not have the op-
portunity to participate in the pro-
gram earlier. Just as private in
dustry has often done in pension
plans, Congress decided that a
worker should have a reasonable
retirement income, even though
the social security program was
set up too late for him to pay for
substantial part of it, While it
is true that he is receiving a lot
more in oid-age benefits than he
paid In social security taxes, he
has suffered the same kind of in
come loss, from retirement, that
may face you after a full lifetime
of farming under the old-age sur
ViVOrs, and disability insurance
program. Also. your family has
survivors insurance protection. In
case Of your death, they stand to
get monthly benefit payments for
many years In addition, you have
disability protection. This provis-
4rga In To- ~4rwEx
to later benefits if you become too
disabled for further gainful work
and provides monthly disability
payments to you when you reach
age so.
Questions
I'm over refinement age but |
haven't quit tarming. Fact is,
don't want to. However, I don't see
why ! have TO keep on paying so
cial security taxes when I'm not
getting anything in return.
Answer;
You are getting something in re-
turn. You're continuing to get pro-
lection against the time when you
or your fami,g may suffer a loss
of earnings because of your old
age. death, or disability. This pro-
lection is available at a far smaller
cost to you than it would be if so
cial security taxes stopped at age
SIS. For working people between
retirement age and age 70, social
security can be considered as an
underpinning of income. Look on
IL as resource to be drawn on for
low income years or periods of in
activity. Farmers, in particular.
should view it that way. You may
have a bad year with snail or no
earnings. You could get old-age
payments to Offset that loss, par
TALLY or wholly. Moreover, there
may be parts of every year in which
you are not actively farming. You
can get social security payments
for those periods regardless of how
much you earn during the farming
season.
Question:
Our family has been in farming
for generations. My father took
over this place from my GRANDPA
ther and when my dad got old
carried on the work and I've been
doing it ever since. I'd like to feel
that my son will take up where
leave off. but can afford It? Ev-
erything have is invested in this
farm.
Answers
You may be overlook the fact
that you have an investment" In
social security also. Many farm