Show social cial security Occur ity plan pla n outlined in article from office at richfield D ditora note tills this Is the last lu fula a series ot of articles ai tides as a preview ot dt how the federal government la is preparing to handle the old age and sun survivors ivors program in utah and the rocky mountain area with the beginning of the amended program this month the amount of monthly benefits will depend upon the workers past wages but not as under the old law on the total wages it will be based on oil hla his average monthly wage it la is figured as follows A basic amount equal to 40 per cent of the first 50 of tho the average monthly wage plus 10 per cent of the next of average monthly wage to this Is added I 1 per cent of tile the basic amount for each year in which the individual earns at WAGE AND dependents MONTHLY BENEFITS for three thre oe years yeara lu in the social security program average monthly wage earners benefit for wife benefit for each wage monthly benefit over 05 65 dependent child GO 60 2000 2060 1030 1030 2375 2575 1288 1288 1845 1545 1645 1545 1100 00 1803 1803 2060 2000 widows widow und and orp orphans lialis of liu au insured wage earner earlier also are protected under the now new federal old ago age abild and survivors insurance plan in the event that the worker leaves no such heirs his dependent parents over 65 may receive monthly benefits A haidow over 05 Is entitled to 0 o a benefit equal to three fourths of her husbands s SURVIVORS MONTHLY biily BENEFITS total benefits lene fits total to tal benefits average monthly widows belle benefit fit widow and one widow and two wage child children 50 1645 1545 2575 I 1 1931 2318 2701 the recent amendments to the social ocial security act ablo 1 provide lovide that employers must furnish receipts for social security taxes taken out of tile the workers pay those receipts will show the amount L of the tax and also the amount of the wage they must be furnished at least once a year and lif any case when a worker leaves a job they may lie be furnished oftener it if the worker saves these receipts he can keep track of his social security account he also can check by asking the board what his wage credits are on oil a card which may be secured from any of the three social security field offices in utah amendments to the social security act also affect what the old law lait called the old age re reserve account the new law provides ldes that social security taxes shall go into a fund fund to be known as the federal old age and survivors trust F fund und which shall be managed by a board of trustees this fund will be drawn upon to pay benefits as they conic come due and is to provide in addition a reserve for contingencies the new law also extends the no coverage of the social security system by more than a million men ano and least in covered employment under the new program the wife of a retired worker Is entitled to a supplementary benefit when she alie reaches age ga the payment to lier her will equal one half of her husbands benefit A dependent child under 10 16 or under 18 if attending school also is entitled to a supplementary tary benefit equal to one half of the fathers annuity the rho following examples show the benefits payable under this formula to retired workers with different average earnings and also to their wives and dependent children in each of these examples it is assumed that the wage earner earned tr or more in III covered employment in each of but three years monthly benefit the widow below the ai age of 0 oil 05 who has dependent children in her care I 1 receives a similar sized shed monthly y payment for the dependent child under 10 16 or under IS 18 if attending school there Is a benefit equal to one half of the fathers monthly payment following Is a table showing ex of survivors monthly benefits comy women in jobs not heretofore pro tecal d by old age insurance this includes the employees of national banks and state banks which are members of the federal reserve Sy system storn emp employees loyco of building and wall loan associations and crows of american ships in brief the amendments adopted almost unanimously by the congress in august have expanded and extended the federal old OIA ac and survivors insurance provisions of the social Becu security rity act far past tile the original goal mr du declared lared it protects the workers woi kers families thus illus reaching millions of people not covered under the old law it reduces taxes faxes at the same time however it brings monthly benefit payments nearer ind and puts to work each year mai the purchasing power represented in the taxes the workers and their employ employers cis have paid into the mederal ire deral old age insurance anil and fund |