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Show Greater Benefits Offered Citizens Under Hot Social Security Law Tax Structure Chanrra S "Beginning Jan. 1, 1955, earnings earn-ings up to 4200 a year will be credited to an individual's social security account," Charles Feld-hauser Feld-hauser of the Richfield social security office, declared today. This means that both employees employ-ees and employers will be taxed two per cent on wages up to a maximum of $4200 annually. A self-employed individual will pay three per cent of $4200 for his taxable year. Although an individual will be paying a little more social security se-curity tax, it will mean increased benefits to him and his dependents depend-ents or to his survivors upon retirement re-tirement or death. Benefits based on average monthly earnings up to $350 are first payable in 1956 provided the retired or deceased workers has earnings at an annual rate of at least $1200 in 1955 and 195G. For example, an individual and his wife who retires on July 1, 195G, will be eligible for $162.80 monthly, as compared to the present benefit rate of $147.80 monthly. This worker must have had an average monthly wage of $350 in 1955 and for the first six months of 1956. The widow and two children I 1956, and who had the same J.. . average monthly wage cC $35 -' will receive $200 a month ntt! ' the youngest child reaches IS. k The total amount payable to tills T'- family unit will be $200. ' - "It will be seen from the above - examples that raising of the 'f I maximum creditable to one's so- : j . ,: cial security account to $4200 a j -4 , year will mean Increased benefits h. for the worker and his family," I Feldhauser said. 1 Mr. Feldhauser will be in Ce- .' dar City on Tuesday, Jan. A, 1955. . 1 He will be at the Utah Employ- .! K ment office from 10 a. m. to ; R 12 noon and from 1 p. m. to 3 pt f m. All those who have questions t t , concerning social security are In- ' V . vited to contact him. , ' |