OCR Text |
Show SOCIAL SECURITY I TAX GOES UP Starting with the first pay checks they receive in the New Year, the nation's working people will pay 4.8 of their earnings toward their social security protection, an increase of .04 over the contribution rate in effect since the beginning begin-ning of 1967. Social Security contributions are still payable on only the first $7,800 of annual earnings. For a person earning $7,800 or more a year ($150 a week or over), the increase will amount to 60 cents a week; a worker earning $100 a week will pay 40 cents a week more. The contribution rate of 4.8 for 1969-70 is actually slightly lower than the 4.9 rate that was scheduled for those two years in the previous law. The increase that goes into effect Jan. 1 was scheduled in the Social Security amendments amend-ments of 1967. Those amendments amend-ments increased cash benefits for all beneficiaries by at least 13. The increase in benefits payable to workers and their families in the future will be even greater. Retirement protection for workers and their families is increased, and so is the protection pro-tection wives and children have if the worker should die. There is also improved protection protec-tion for the entire family if the family breadwinner should become disabled for work for a period of 12 months or more. Younger workers, as well as those Who are middle-aged or older, can look forward to getting social security retirement retire-ment benefits worth considerably consider-ably more than the total they will pay into social security toward that retirement protection. protec-tion. In addition, they have survivor sur-vivor and disability insurance under social security that may mean as much as $75,000 to $100,000 in payments to an individual in-dividual family, should the worker die or ibecome disabled for work before retirement. A representative will be in Beaver at the Community Cen-te Cen-te on Thursday, Jan. 2, from 9 a. m. until noon. |